offers a suitable background for empirical examination of these issues because her legal and market institutions are … institutions are weaker and where regional governments are of lower quality or more interventionist. Further, firms led by insiders …

income diversification and market concentration are related to bank stability. Firstly, we document that bank stability is … positively related to revenue diversification, suggesting that banks are more stable when they are more engaged in non … concentration modifies the link between revenue diversification and bank stability. Specifically, it is shown that diversified banks …