Consolidation in the financial industry threatens competition and increases systemic risk. Recently, banks have seen … dealt directly with each other.Yet here lies the dilemma: large clearinghouses reduce credit risk, but they heighten … systemic risk since the collapse of one such entity threatens the entire financial system. While the systemic risks posed by …

to a functional convergence between insurance and the broader financial sector.The law literature on financial regulation … accompany all financial regulation. One problem concerns jurisdictional boundaries: to what degree does market integration …. Second, frequent calls for more “functional regulation” fail to appreciate the subtle advantages of retaining formalistic …

significant disruptions in credit markets and contributing to systemic risk. Together with the failure of bank regulators to … monitor bank risk-taking prior to the Financial Crisis, these concerns have prompted renewed calls for making financial … turning to the insights of credit risk modeling, this Article argues that redesigning bank disclosures to facilitate credit …

Are bank resolution regimes effective enough to improve financial stability? We look at the effect of the new bank … resolution reforms on the systemic risk of big financial conglomerates. We find that in developed countries, parents in a … stricter resolution regime have lower systemic risk contributions, compared to their foreign subsidiaries. The opposite is true …

The failure to spot emerging systemic risk and prevent the current global financial crisis warrants a reexamination of …

almost 4,000 bonds, we test whether credit rating based- regulation can create the bank moral hazard predicted by our model … ratings only partially reflect systematic risk. If a bank chooses bonds within a given credit rating that have above median … bank's physical expected default losses, a bank can increase its shareholder value by making loans and investing in bonds …

We examine the effects of opacity on bank valuation and the synchronicity of bank equity prices over the years 2000 … rise in bank equity share prices, decrease in transparent asset holdings by banks, and greater price synchronicity …

institutions is firmly embedded in bank supervisory law and regulation. Most recently there has been intense discussion on the … far as risk and compliance are concerned, but also the remuneration paid to bank directors and senior managers or key … purpose of (non-bank) corporations. Shareholder governance and stakeholder governance have been and still are the two …

shareholder engagement. However, this shareholder engagement strategy only makes sense if the risk appetite of bank shareholders … applied to banks, this view is mistaken. Banks do not internalize the costs of failure, hence the risk appetite of bank … that is triggered by bank failure. I discuss how this has the potential to reduce bank shareholders' risk appetite, and …

) deregulations, upon which, cross-border bank M&As, mainly among neighboring states, could enhance cross-fertilization by injecting … new blood and awakening the market for corporate control. Results show that cross-fertilization in bank performance …