financial crisis of the 20th century - the Great Depression. Using balance-sheet and systemic risk measures at the bank level …, we build an econometric model with incidental truncation that jointly considers bank survival, the type of bank closure … (consolidations, absorption, and failures), and changes to bank risk. Despite roughly 9,000 bank closures, risk did not leave the …

. We show that allowing acquisitions stimulates platform innovation, but at the cost of a more concentrated market … investigate how the merger regime influences the direction of the startup’s innovation. …

We analyze the impact of a merger on firms' incentives to innovate. We show that the merging parties always decrease … their innovation efforts post-merger while the outsiders to the merger respond by increasing their effort. A merger tends to … reduce overall innovation. Consumers are always worse off after a merger. Our model calls into question the applicability of …

these multi-sided companies along with each company’s most important market segments. We then track their mergers and … acquisitions and match them with the segments. This exercise shows that these five firms use M&A activity mostly to strengthen …, therefore, acquisition appears to be a substitute for in-house R&D. Finally, from our check for possible "killer acquisitions …

We analyze factors behind 23,213 distressed acquisitions in European emerging markets from 2007–2019. Besides the … probability of distressed acquisitions, followed by corruption control and progress in banking reforms. The impact of institutions …

In the past 20 years, large digital platforms have made many acquisitions, mainly young and innovative startups. Few of …

to be heavily indebted to other banks, their liquidation can trigger other bank failures. We find that the distribution … mechanism of financial shocks. Each period a finite number of banks offers a large, but finite, number of loans to households …. Banks with excess liquidity also offer loans to other banks with insufficient liquidity. Thus, each period an interbank loan …

Because of secrecy, little is known about the political economy of central bank lending. Utilizing a novel, hand …-collected historical daily dataset on loans to commercial banks, we analyze how personal connections matter for lending of last resort …, highlighting the importance of governance for this core function of central banks. We show that, when faced with a banking panic in …

differences in banks ́health at the onset of the Great Recession. Several weak banks were rescued by the State and they reduced … credit more than other banks. We compare employment changes from 2006 to 2010 at firms heavily indebted to weak banks before ….5 percentage points due to weak-bank attachment, representing between 8% and 36% of aggregate job losses. …