incentives to monitor on part of the captive financial subsidiaries. Overall, these findings suggest that firm boundaries are an …

for the corporate structure and the related financial stability of Bank Holding Companies (BHCs). We observe that, when …This paper investigates whether the degree of exposure of the parent to the subsidiaries is an important determinant … the parent is more exposed to the subsidiaries, through the holdings of equity or debt claims issued by the same …

A subsidiary failure may deteriorate the bank holding company's (BHC) financial conditions. BHCs' managers possess …. Specifically, BHCs increase leverage ratio as early as one year prior to the failure of their subsidiaries, and substantially lower …

international subsidiary locations and risk of U.S. bank holding companies (BHCs). We find that U.S. BHCs are more likely to operate … subsidiaries in countries with weaker regulation and supervision and that such location decisions are associated with elevated BHC …