strength and extraordinary sovereign support and provide an estimate of banks' creditworthiness. Thus, the impact of the …

-merger profitability of targets, a decrease in the size of acquirers and a decreasing share of transactions in which banks are acquired by … other banks. Other merger properties, including the size and risk profile of targets, the geographic overlap of merging … banks and the stock market response of rivals appear unaffected. The evidence suggests that the strengthening of merger …

banks' liabilities thereby decreasing the cost of equity relative to the cost of debt. Using a difference …-in-differences approach we assess the impact of this tax levy on banks' participation in the syndicated loan market. We further investigate … the impact of the tax levy along bank size and capital structure. We find that banks located in countries where the tax …

Can banks trade credit default swaps (CDSs) referenced on their current corporate clients at competitive prices, or are … banks penalized for potentially holding private information? To answer this question we merge CDS trades reported under the … that the same dealer offers to banks and to other investors. We find that banks lending to a corporation purchase CDSs on …

reduce loan granting, especially to firms or from banks with lower capital or liquidity ratios. Moreover, responding to … applications for the same loan, weak banks are less likely to grant the loan. Our results suggest that firms cannot offset the … resultant credit restriction by turning to other banks. Importantly the bank-lending channel is notably stronger when we account …

bank loans of the same maturity than non-issuer firms, suggesting an improvement in their bargaining power with banks. In …

power with banks. Issuer firms also reduce the amount of used bank credit, expand their total and fixed assets, and raise …

maturity than non-issuer firms do, suggesting an improvement in their bargaining power with banks. In addition, issuer firms …

We study how relationships between firms and banks evolved between during the Twentieth century in Britain. We document … likely to add a bank. Deregulation and intensifying competition in the banking sector during the 1970s spurred banks to …