, which is the risk that a new technology has negative spillovers on the value of a bank's legacy loan portfolio. Using both … overhang. These results hold for two distinct measures of asset overhang and using bank mergers as a source of exogenous … variation in bank specialization. We further show that these heterogeneous effects arise through financial contracting. Overall …

-- Chapter 7. ALM Evolution Summary -- Conclusions -- Part 2: Place of Asset and Liability Management in a Bank -- Introduction … intelligence of managers in order to maintain the financial health of a bank, and quickly react to external environment challenges … achieve the targets, but also the correct and holistic understanding of processes that should be set up in a bank to prove its …