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 …

representatives on corporate boards. If a banking relationship is a substitute for the stock market, then interaction with a bank … monopolistic control over access to external capital markets, then bank interests may conflict with those of other equityholders … structure of the firms' equity. We test for conflicts-of-interest in bank behavior and ask whether the relationship between …

supporting the shareholder-as-customer model. Bank values responded positively to the presence of large-block individual … concerned with dividend returns than access). Moreover, firm value declined as directors consumed larger fractions of a bank …'s loans, which reduced the bank's ability to extend credit to other shareholders …

. Second, did diffuse ownership systematically alter bank risk taking? It did. Banks with less concentrated ownership followed …

macroeconomic and bank regulatory reform. Bank regulatory policy promoted privatization, financial liberalization, and free entry …. Argentina's bank regulatory system now is widely regarded as one of the two or three most successful among emerging market …

their investors. We show the bank has to have a fragile capital structure, subject to bank runs, in order to perform these … functions. Far from being an aberration to be regulated away, the funding of illiquid loans by a bank with volatile demand … such as narrow banking and bank capital requirements …

recognizing greater risks and losses, can lead to solvency problems that look like liquidity (bank-run) crises. Regulatory …

We develop a theory of bank board risk committees. With this theory, such committees are valuable even though there is … no expectation that bank risk is lower if the bank has a well-functioning risk committee. As predicted by our theory (1 …) many large and complex banks voluntarily chose to have a risk committee before the Dodd-Frank Act forced bank holding …