Systemic risk is a key concern for central banks charged with safeguarding overall financial stability. In this paper we investigate how systemic risk is affected by the structure of the financial system. We construct banking systems that are composed of a number of banks that are connected by...

Purpose: The purpose of this paper is to explore new banks ' market niche position choices at the time of founding. Design/methodology/approach: The authors used data on the establishment of new banking organizations in California, over 1979-1988, to test the hypotheses. During that time,...