. From both theoretical model and empirical analysis, we find that in analyzing the systemic risk posed by one financial …" argument is not always valid, and alternative measures on systemic importance should be considered. We provide the estimation …

risk and asset allocations. Recent work (Boyd, De Nicolò and Jalal, 2009, BDNJ henceforth) predicts that as competition in … less risk as loan rates decline is sufficiently strong. We test these predictions using two samples with radically … of competition. We also find that as competition intensifies, borrower risk decreases and the loan-to-asset ratio …