We review the literature on resolving bank and corporate sector crises to identify government policies that affect the …, although often missing key to successful bank and corporate restructuring. Sustainability of restructuring calls for deeper …

with a weak bank--once we condition on aggregate demand shocks. Second, the relation between leverage and investment …

greater insider ownership leads to less equity issuances. Several tests are consistent with the view that bank insiders are … between bank equity and lending, the results stress that ownership structure can shape the resilience of banks--and hence the …

, their ownership structures, and national bank regulations. We focus on conflicts between bank managers and owners over risk …, and show that bank risk taking varies positively with the comparative power of shareholders within the corporate … governance structure of each bank. Moreover, we show that the relation between bank risk and capital regulations, deposit …

supervisory/regulatory policies on bank valuations. Except in a few countries with very strong shareholder protection laws, banks … cash flow rights mitigate the adverse effects of weak shareholder protection laws on bank valuations. These results are …

We develop a new identification strategy to evaluate the impact of the geographic expansion of bank holding company … (BHC) assets across U.S. metropolitan statistical areas (MSAs) on BHC risk. We find that the geographic expansion of bank …

to individual banks in the Merton tradition (1974) as a combination put option for the deep tail of bank losses and a … knock-in stop-loss call on bank assets. This model expresses the value of taxpayer loss exposure from a string of defaults … the face value of the debt of the entire sector. We conceive of an individual bank's systemic risk as its contribution to …

This paper assesses the impact of the geographic diversification of bank holding company (BHC) assets across the United … States on their market valuations. Using two novel identification strategies based on the dynamic process of interstate bank …