Lyócsa, Štefan; Výrost, Tomáš; Baumöhl, Eduard - 2018
aspiration level (median performance of peer banks) influence banks' aggregate risk levels. Our results are consistent with the … followed by increased aggregate risk, i.e., risk-taking behavior in the subsequent year. Although under-performing banks tend … to be risk-takers, large banks and banks with high aggregate risk levels tend to limit the increase in their aggregate …