riskier projects. We also investigate whether granting employee stock options reduces the bank's incentive to borrow while … inducing a buildup of regulatory capital. Using a sample of 549 bank-years for publicly traded banks from 1992 to 2002, we find … some evidence that the bank's equity volatility (total as well as residual) and asset volatility increase as CEO stock …

. Despite the risk-shifting, overall bank risk did not increase, evidently because the banks most constrained by the new …

regulation than for other banks and firms. Over a longer twenty-year horizon, we find that changes in the systematic risk of bank …

Many large U.S. bank holding companies (BHCs) continued to pay dividends during the recent financial crisis, even as …

estimate bank biases at the credit level by comparing bank-generated risk estimates within loan syndicates. The biases are … positively correlated with measures of regulatory capital, even in the presence of bank fixed effects, consistent with an effort …

Bank capital requirements are based on a mix of market values and book values. We investigate the effects of a policy … banking organizations. Our analysis is based on security-level data on individual bank portfolios matched to bond …

Bank holding companies (BHCs) can be complex organizations, conducting multiple lines of business through many distinct … legal entities and across a range of geographies. While such complexity raises the costs of bank resolution when …, liquidity management, and synergy improvements that reduce risk. The outcomes of such trade-offs may depend on bank governance …