Size, Risk, and Governance in European Banking

Hardcover | October 5, 2013

byJens Hagendorff, Kevin Keasey, Francesco Vallascas

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The financial crisis that erupted in 2007 has brought the issues of the size, risk, and regulation of banks to the attention of a wide audience. It is difficult to open a broadsheet newspaper or a business magazine without being confronted with some aspect of bank behaviour, be it their risklevels, bankers' excessive rewards, the intertwining of bank and sovereign risk, or how they should be regulated to avoid problems in the future. In Europe, the recent and on-going crisis has demonstrated that the European Union (EU) was institutionally ill-prepared to manage a financial crisis,especially one involving large cross-border institutions which are systemically important to a number of countries. This book aims at integrating and synthesizing the various perspectives on the size, risk, and governance of banking as applied to the European markets, providing fresh insights andnew analysis of the empirical data.The book is divided into three main sections. The first provides an overview of how the size of banking firms affects stability in the European banking sector, reviewing the quantitative empirical literature and offering new insights as to whether bank size motivates risk-taking where explicit orimplicit "too-big-to fail" policies shield bank creditors from market discipline. The next section discusses the debates relating to each of the different elements of risk in European banking, including new insights from a large dataset of European bank risk in different institutional contexts. Thethird section focuses on regulation, board monitoring, and opacity in European banking, employing a unique and hand collected dataset on the governance of European banks, as well as data on U.S. banks as a benchmark. The final chapter critically reviews the new insights gained from the chaptersabove, while offering policy implications as regards the role of size, risk and governance in European banking.

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The financial crisis that erupted in 2007 has brought the issues of the size, risk, and regulation of banks to the attention of a wide audience. It is difficult to open a broadsheet newspaper or a business magazine without being confronted with some aspect of bank behaviour, be it their risklevels, bankers' excessive rewards, the inter...

Jens Hagendorff is the Martin Currie Professor in Finance and Investment at the University of Edinburgh Business School. He has previously worked at the Financial Stability Department of The Bank of Spain, The University of Leeds, and he was also a visiting fellow at the Federal Reserve Bank of Atlanta. Jens' work on European banking h...
Format:HardcoverDimensions:280 pagesPublished:October 5, 2013Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199694893

ISBN - 13:9780199694891

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Table of Contents

(I) Introduction1. Introduction(II) Size in Banking2. Bank Systemic Size and Systemic Crises3. Increases in Size and Bank Default Risk: Evidence from European Bank Mergers(III) Risk in European Banking4. The Trends and Composition of Banking Risk across Europe5. The Determinants of European Bank Exposure to Systemic Shocks(IV) Corporate Governance in European Banking6. Board Monitoring, Regulation and Performance in the European Banking Industry7. Executive Pay and Risk-taking in the European Banking Industry8. Systemic Risk Potential and Opacity in European Banks(V) Conclusions9. Conclusions