More than ever, the current crisis has highlighted the cost of banking crises in budgetary and economic growth terms. Whether or not to restructure a bank is a key determinant of who bears the costs. The present article surveys the main issues concerning banks' restructuring, by considering the...

This paper reviews the pattern of bank failures during the financial crisis and asks whether there was a link with corporate governance. It revisits the theory of bank governance and suggests a multi-constituency approach that emphasizes the role of weak creditors. The empirical evidence...

This short paper surveys some recent research on the internal organization of firms, with an emphasis on task allocation and synchronization. It focuses on an organization facing no incentive problems but time constraints and costs of communication. It highlights two motives for communication:...