Wang, Chih-Yung; Chen, Yu-Fen; Tung, Gu-Shin - In: Emerging Markets Finance and Trade 46 (2010) 1, pp. 27-33
This paper examines the link between the issuance of subordinated debt by commercial banks and market discipline. Using cross-sectional and time-series data from 2002 to 2007, we empirically examine the relationship between banks' risk level and their decisions to issue subordinated debts in...