Stress Testing During Times of War
The Covid crisis raises important questions about the role of stress testing during periods of systemic distress. Should stress testing of banks be...
Read moreThe Covid crisis raises important questions about the role of stress testing during periods of systemic distress. Should stress testing of banks be...
Read moreThis essay focuses on the classic 1940 case Litwin v. Allen, 25 N.Y.S.2d 667 (1940), in which the court ruled that directors and officers of a bank were...
Read moreThe recent bailout of Credit Suisse is noteworthy for many reasons. One of them is that, while AT1 bondholders were wiped out, shareholders were not. This...
Read moreIn the wake of the global financial crisis, attention has often focused on whether incentives generated by bank executives? compensation programs led...
Read moreThis article reviews regulatory concerns prompted by the difficulties that were encountered by four British banks in making rights issues and other pro...
Read moreLiquidity production is a central role of banks. When there is a market premium for the production of (socially valuable) liquid financial claims and no...
Read moreHow does management insulation from shareholder pressure influence banks’ resilience to crises? To address this question, we develop a...
Read moreBanks are special, and so is the corporate governance of banks and other financial institutions as compared with the general corporate governance of...
Read moreThis paper empirically examines the Capital Purchase program (CPP) under TARP that was used by the U.S. government to bail out distressed banks with...
Read moreFinancial institutions’ heterogeneity, a high degree of dissimilarity across multiple dimensions, including business focuses, correlated asset...
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