This article provides an introduction to the special issue. We focus on four themes that are important for policymakers and researchers alike in view of the experiences of the global financial crisis of 2007–09 and the ensuing sovereign debt crisis in the euro area: the relevance of the...

We offer a new explanation for why academic studies typically fail to find value creation in bank mergers. Our conjectures are predicated on the idea that, until recently, large bank acquisitions were a new phenomenon, with no best practices history to inform bank managers or market investors....

We derive five hypotheses regarding market competition, price, and advertising from a theoretical model of a profit maximizing depository institution, and test these conjectures in a simultaneous system of deposit interest rates and advertising expenditures for a data panel of 1,867 thrift...