-merger financial performance. We find that, on average, bank mergers in the European Union resulted in improved return on capital. By …

asymmetries within the bank combined with fixed wages. Two kinds of inefficiencies arise in equilibrium: the credit officer either … bank accepts the information asymmetries, is called the centralized structure. Under decentralized structure the bank … finance more small firms, but incur higher costs than centralized ones. Small banks are interpreted as a bank with relatively …

experiment to examine the effect of government guarantees on bank risk taking, using a large data set of matched bank …

deposits towards non-deposit liabilities. We find that unobserved timeinvariant bank fixed effects are ultimately the most … important determinant of banks’ capital structures and that banks’ leverage converges to bank specific, time invariant targets …

We model the impact of bank mergers on loan competition, banks' reserve holdings and aggregate liquidity. Banks compete … in liquidity risk and expected liquidity needs for each bank and for the banking system. Large mergers tend to increase … expected aggregate liquidity needs, and thus the liquidity provision by the central bank. Comparative statics suggest that a …