There is no consensus in the literature regarding the financial consequences of megamergers in part due to the difficulty in establishing a good counterfactual. By comparing the performance of these deals to the performance of synthetic mergers constructed using a novel matching procedure, we...

In this paper we examine the predictability of asset returns by developing an approach that combines quantitative methods of forecasting, based on technical analysis. As an innovation we introduce a multiple criteria decision system making simultaneous use of trend indicators and other...

The recent financial crisis has shown that the stability of the investment banking industry plays a key role for the soundness of the financial system as a whole. Do high competition and/or cost inefficiencies increase investment banks' insolvency (and capital) risks? Or, conversely, do...

Cooperative banks are small and their survival is not guaranteed by the "Too Big To Fail" policy so that their default can be concrete in time of crises. We analyze the contribution of efficiency to cooperative bank probability of default. We estimate several measures of bank efficiency...

Enforcement actions (or sanctions) pursue two complementary goals, namely to penalize guilty companies and to provide an example to other companies that bad behaviour will be penalized. Although the recent financial crisis showed that this topic is critical in banking, only a few papers (e.g....