Countries differ on the extent to which their financial system relies on banks or on the financial market. We offer a …

core. The estimated model matches four facts about banks' Tobin's Q that summarize bank leverage dynamics. (1) Book and … nor market leverage constraints are binding for most banks; (4) bank leverage and Tobin's Q are mean reverting but highly …

a difference-in-difference setting in which private domestic banks serve as the treatment group and state and foreign …-owned banks, whose deposit insurance regime does not change, serve as a control group. …

traditional banks to modernize their core business activities. Banks attempt to confront the challenges of digitalization by … banks to form alliances with fintechs. Furthermore, we analyze whether such bank-fintech alliances affect the market … valuation of banks. We provide descriptive evidence on the different forms of alliances occurring in practice. Using hand …

us to construct a new and better financial development index which measures the level of loans extended by banks to …

Using hand-collected data spanning more than a decade on European banks' sovereign debt portfolios, we show that the … subsidiaries for several reasons, including banks' tendency to hire internally across borders for high-level managerial positions … that differs across banks headquartered in the same country, at the same point in time, with regard to the same target …

Crowdfunding provides innovation in enabling entrepreneurs to contract with consumers before investment. Under … mechanisms. Crowdfunding's after-markets enable consumers to actively implement deferred payments and thereby optimally manage …