Ongoing financial innovation and greater information availability increase the tradability of bank assets and reduce … banks' dependence on individual bank managers as private information in the lending process declines. In this paper we argue … bank managers and shareholders becomes less severe. Consequently, banks' capital structure needs to be less concerned with …

Ongoing financial innovation and greater information availability increase the tradability of bank assets and reduce … banks' dependence on individual bank managers as private information in the lending process declines. In this paper we argue … bank managers and shareholders becomes less severe. Consequently, banks' capital structure needs to be less concerned with …

direct investment opportunities, a bank-dominated financial system arises, in which banks provide liquidity transformation … secondary financial markets. Secondly, we analyze the effect a run on a single bank has on the entire financial system …. Interestingly, we can show that a bank run on a single bank causes contagion via the financial market neither in market-oriented nor …

direct investment opportunities, a bank-dominated financial system arises, in which banks provide liquidity transformation … secondary financial markets. Secondly, we analyze the effect a run on a single bank has on the entire financial system …. Interestingly, we can show that a bank run on a single bank causes contagion via the financial market neither in market-oriented nor …