This study examines the nexus between sovereigns and banks during a crisis with a focus on the effects of PSI, the voluntary exchange program of Greek sovereign bonds with private sector involvement. The effectiveness of the program is evaluated through its impact on credit default swaps of 8...

We investigate the role of governance on performance and risk-taking for European banks focusing on board diversity and bank culture. We first examine the relationship between governance, performance and risk-taking employing a difference-in-difference approach centered around the 2012 EC...