Based on data from 32 countries over the period 1996–2010, this paper is the first to assess
the relationship between financial innovation, on the one hand, and bank growth and …

Fragility is affected by how the balance sheet composition of financial intermediaries, the
precision of information signals, and market stress parameters all influence the extent of …

This paper examines the role of credit rating agencies in the subprime crisis that triggered
the 2007–2008 financial turmoil. We focus on two aspects of ratings that contributed to the …

Banks may be unable to refinance short-term liabilities in case of solvency concerns. To
manage this risk, banks can accumulate a buffer of liquid assets, or strengthen transparency …

Research on the impact of transparency and disclosures (TD) on the firm's valuation
presents an ambiguous result. The effect of disclosure on value is a concern because …

This paper finds that loans sold to collateralized loan obligations (CLOs) underperform
matched unsecuritized loans originated by the same bank. We find that banks put less …

We test how the use of financial derivatives affects banks' informational structure and future
stock performance based on a sample of large bank holding companies in the US. Using …

We examine the effects of opacity on bank valuation and synchronicity in bank equity returns
over the years 2000–2006 prior to the 2007 financial crisis. As expected, investments in …

This article introduces a special issue on lessons from the recent crisis on finance, growth,
and stability. The papers in the special issue discuss (i) the benefits and risks of financial …

Purpose This study aims to determine the association of Transparency and Disclosure (TD)
with financial distress (FID) while the competition (as Lerner Index) moderates the …