Using aggregate balance sheet data from banks across the EU-25 over the period from 1997 to 2005 this paper provides empirical evidence that national banking market concentration has a negative impact on European banks' financial soundness as measured by the Z-score technique while controlling...

Using aggregate balance sheet data from banks across the EU-25 over the period from 1997 to 2005 this paper provides empirical evidence that national banking market concentration has a negative impact on European banks’ financial soundness as measured by the Z-score technique while controlling...

We use panel data from the EU-25 to estimate the effect of changes in the degree of banking market concentration on the stability of banks by performing separate analyses at the country level and the bank level. The results indicate that the level of analysis matters. Whereas our country-level...

The spread of minority equity interest by large investors within productive sectors has garnered theattention of major institutions worldwide. This work draws a picture of such “common ownership”in the European energy industry in 2007-2018, by means of novel indicators covering both the...

Recent research says 20 percent of Korean manufacturers are stalled-growth small and medium enterprises (SMEs), or companies that have been business for at least 20 years but have under 50 employees, with market factors causing 65 percent of such stagnation and the businesses themselves 35...

Real exchange and interest rates may still fluctuate inside the EMU and give rise to changes in competitiveness. We find, in contrast to what is generally expected, no convergence in these variables after the introduction of the euro. On the contrary, a divergence is found that is extraordinary...

We analyze producer price developments in the transition from a national exchange rate regime to a monetary union. The focus is on the European Economic and Monetary Union (EMU). Stylized facts witness about an exploding gaps in producer-price inflation during the years immediately following the...

The purpose of this paper, structured in three Sections, is twofold: (a) The first is to analyse the conditions under which a group of financial firms is considered to be a ‘financial conglomerate' in accordance with the (complex) definition of this term in Article 2 (point (14)) of the...

The aim of this paper is to briefly present and assess the institutional framework governing the (and some main legal aspects related to the) European Banking Union (EBU), as in force, and the proposals made or suggested in order to enhance it. The paper is structured in three (3) Sections: (1)...

This study is aiming to present (and to a certain extent analyse) the provisions of Articles 24-30 of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 “on markets in financial instruments (…)” (‘MiFID II') – including the relevant provisions of the...