Banks are unique in that they combine the production of liquid claims with loans. They can replicate most of what … FinTech firms can do, but FinTech firms benefit from an uneven playing field in that they are less regulated than banks. The … uneven playing field enables non-bank FinTech firms to challenge banks for specific products whose success is not tied to …

We explore the actions of financially distressed banks in two distinct periods that include financial crises (1985 … widespread belief that distressed banks gamble for resurrection, we document that distressed banks take actions to reduce … forces beyond formal regulations incentivize bank managers to deleverage when their banks are in distress …

cost of borrowing of these countries on stock returns of banks from other countries. We find that tail sovereign GIIPS CDS … benchmark specification, holdings of peripheral country bonds by banks from other countries do not constitute a statistically or …

The moral hazard incentives of the bank safety net predict that distressed banks take on more risk and higher leverage … include financial crises and are subject to different regulatory regimes (1985–1994, 2005–2014). We find that distressed banks …