financial intermediation and the supremacy of banks' efficiency. This study examines the concurrent effects of bank risk … risk-taking negatively affects the return. Cost-efficient banks are taking more credit risk; however, more efficiency gains …-taking (efficiency) behaviour of banks. Market competition enhances the risk and efficiency and reduces banks' interest spread. Finally …

The Great Recession focused attention on large financial institutions and systemic risk. We investigate whether large … economies or too-big-to-fail subsidies. Estimating scale economies is made more complex by risk-taking. Better diversification … resulting from larger scale generates scale economies but also incentives to take more risk. When this additional risk …

to consider the association of their size with systemic risk. An equally important question examines whether their size … advantages that improve the efficiency of their capital allocation and liquidity and enhance their international competitiveness …-related changes in risk-taking, which can obscure technological cost advantages, such as those due to better diversification. It …

trading frictions to motivate the issue of risk-spreading ‘bundled’ debt are more promising for money creation, although they … still cannot explain the the holding and valuation of money. Using the concept of team-production of Alchian and Demsetz and … purchasing power from a team-production contract can enhance output and consumption. This conclusion motivates an original …