. Political indicators reveal bailout expectations after 2009, manifested as beliefs about the predicted probability of receiving … was lower, and loan rates were higher for banks with higher bailout expectations. The interest margins of unsupported …

German banks experienced a merger wave throughout the 1990s. However, the success of bank mergers remains a continuous …

. Political indicators reveal bailout expectations after 2009, manifested as beliefs about the predicted probability of receiving … premium required by depositors was lower for banks with higher bailout expectations. The interest margins of unsupported banks …

-equations model that specifies the probability of a bailout and banks' risk taking.We identify the effect of expected bailout …-2006. The marginal effect of risk with respect to bailout expectations is 7.2 basis points. A change of bailout expectations by … targeting bank management and, to a lesser extent, penalties mitigate moral hazard. Weak interventions, such as warnings, do not …

, we do not find any reduction in risk-taking at the bank level, one purported aim of the regulation …

. Political indicators reveal bailout expectations after 2009, manifested as beliefs about the predicted probability of receiving … was lower, and loan rates were higher for banks with higher bailout expectations. The interest margins of unsupported …

Theoretically, bank's loan monitoring activity hinges critically on its capitalisation. To proxy for monitoring … governance of the firm. Exploiting granular bank-firm relationships observed in the syndicated loan market, we document …