increase their capital buffers – a policy supported by national bank regulators. This paper examines whether the issuance of … CoCo bonds provides the same reduction in bank default risk as the corresponding issuance of common equity by analyzing the … conversion features come with a lower subsequent volatility of the bank asset value, but are inferior to equity in terms of their …

that the market reacts positively to NPL sales and that this reaction is more pronounced when the selling bank has better …

. Ronn and Verma (1986) call the tolerance level below which a bank closure is triggered the regulatory policy parameter. We … derive a model in which we make this parameter stochastic and bank-specific to infer the stock market view of the regulatory …, most substantial in recessions, could represent 17%, on average, of the market valuation of bank equity and could go as …

consider liquidity regulation to be binding. Bank- and country-specific characteristics also matter. Liquid balance sheets and …

Little is known about how bank capital affects bank stock performance. We show that capital does not affect returns …

This paper examines the asset pricing implication of loan loss provisions (LLP). LLP is a bank's dominant accrual and a … is prevalent after controlling for size and bank capital. Further analyses suggest the effect of LLP arises because …