Portada fileteada ; Sign.: [ ]1, A-Z6, Aa-Ii6, Kk2 ; [ ]1, A-Z6, Aa-Kk6, Ll2 ; T. I: [2], 384, [4] p. -- T. II: [2], 392, [6] p., [2] p. en bl.

Portada fileteada ; Sign.: [ ]1, A-Z6, Aa-Ii6, Kk2 ; [ ]1, A-Z6, Aa-Kk6, Ll2 ; T. I: [2], 384, [4] p. -- T. II: [2], 392, [6] p., [2] p. en bl.

This paper studies liability management exercises (LME) by banks, which have comparable regulatory capital effects than contingent capital triggers. LMEs are concentrated on low capitalization situations, both in the cross-section and in the time series and are frequently associated with equity...