This paper is the first to analyze market impact and execution costs of equity trading by a pension fund. We find that …, on average, these costs are nonnegligible. Average market impact costs equal 20 basis points for buys and 30 basis points … relative trade size and market capitalization, commonly found to play an important role, have only limited influence on the …

Traditional theory suggests that high franchise value limits bank risk-taking incentives. Then why did many banks with … paper attempts to reconcile theory and evidence. We consider a setup where a bank takes risk by levering up, to invest in … risky market-based instruments. High franchise value allows the bank to borrow more, so it can take risk on a larger scale …

This paper studies the impact of explicit deposit insurance on market discipline in a framework that resembles a … insurance causes a significant reduction in market discipline. We also show that the effect of deposit insurance depends on the … coverage rate. When the coverage rate is more than 60 percent, market discipline is significantly reduced and it is completely …

An empirical investigation of the relationship between market share or concentration and return on equity or assets … provides evidence for the existence of a profit-structure relationship in the European banking sector. Testing several market …-structure relationship because it stimulates both profitability and market share. Bank mergers in recent years have been successful because …

In this paper various Value-at-Risk techniques are applied tot the Dutch stock market index AEX and to the Dow Jones …