This paper examines what institutional and bank-specific factors determine bank stock price synchronicity. Using data … on 37 countries from 1996–2007, we find that bank stocks are more aligned with the whole market (1) during the financial … insurance; and (4) in countries that have lower bank-level disclosure. The results hold for both emerging and developed economy …

fixed income unless the value of the bank’s assets falls below a predetermined threshold. In such an event, the debt … obligation is automatically converted to the bank’s common equities. By using a contingent claims valuation approach we present … bank that includes DES or alternatively subordinated debt in its capital structure. We compare and evaluate quantitatively …

In the conventional CAPM model only a single risk factor is considered. However, using a world market portfolio to …

-factor. In the conventional CAPM model only a single risk factor – systemic risk – is considered. However, when using a world …

motivate potential producers of information by changing their incentives. Traditional approaches to bank governance may …