rents already. Thus our results suggest that in the bank-dominated financial system of Germany, in which banks intensely …

-European Bank mergers. In this paper we identify other more fundamental reasons for a limited degree of cross-country integration in …-border bank mergers. The paper derives the impact of different underlying stochastic structures on the optimal structure of cross … regional bank mergers. Imposing a symmetry restriction on the underlying stochastic structure of liquidity shocks we find that …