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Persistent link: https://www.econbiz.de/10011442999
In this paper, we investigate the extent in which creditor rights protection in bankruptcy induces banks to take more risk, leading to a higher level of systemic risk in the financial system. We apply ∆CoVaR, introduced by Adrian and Brunnermeier (2011), as the measure of systemic risk. Our...
Persistent link: https://www.econbiz.de/10013002804
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