Minton, Bernadette A.; Stulz, René M.; Taboada, Alvaro G. - 2018
Some argue too-big-to-fail (TBTF) status increases the value of the largest banks. In contrast, we find that the value of the largest banks is negatively related to asset size in normal times, but not during the financial crisis when TBTF status was most valuable. Further, shareholders lose when...