Molyneux, Philip; Schaeck, Klaus; Zhou, Tim Mi - In: Journal of International Money and Finance 49 (2014) PB, pp. 258-282
In this paper, we examine the systemic risk implications of banking institutions that are considered ‘Too-systemically-important-to-fail’ (TSITF). We exploit a sample of bank mergers and acquisitions (M&As) in nine EU economies between 1997 and 2007 to capture safety net subsidy effects and...