Jokipii, Terhi; Milne, Alistair - In: Journal of Banking & Finance 32 (2008) 8, pp. 1440-1451
Using an unbalanced panel of accounting data from 1997 to 2004 and controlling for individual bank costs and risk, we find capital buffers of the banks in the EU15 have a significant negative co-movement with the cycle. For banks in the accession countries there is significant positive...