This paper analyses the evolution of the safety and soundness of the European banking sector during the various stages of the Basel process of capital regulation. In the first part we document the evolution of various measures of systemic risk as the Basel process unfolds. Most strikingly, we...

Theories of dynamic capabilities emphasise the ability of organisations to sense opportunities, seize them, and reconfigure resources to transform the organisation around them. However, attempts to sense, seize and reconfigure increase the risk of major organisational failure. Organisations are...

This paper analyses the evolution of the safety and soundness of the European banking sector during the various stages of the Basel process of capital regulation. In the first part we document the evolution of various measures of systemic risk as the Basel process unfolds. Most strikingly, we...