Sustainable shareholder value is a main strategic objective for financial institutions. This text provides an analytical assessment of shareholder value creation, providing a framework for analyzing theory, and presenting empirical investigations. It analyzes the importance of drivers in...

We assess the effect of securitization activity on banks' loan pricing practices employing a uniquely detailed dataset from the euro-denominated syndicated loan market. We find that in the run up to the 2007-2009 crisis banks that were more active at originating asset-backed securities did not...

"This book provides a detailed analytical assessment of merger and acquisition phenomenon in banking. It advances the prior literature focusing on some specific aspects that have been investigated by only limited previous analysis. It assesses the effect produced by M&A transactions on bank...

A poor risk culture was one cause of the financial crisis. Surprisingly, there is no evidence of the link between risk culture and bank stability. Using a large sample of European banks from 2004 to 2014, our paper shows that a sound risk culture leads to better performance. Our research design...

Financial instruments in levels 2 and 3 for accounting purposes are complex and opaque products and their evaluation is problematic. The amount of these assets held by banks in Europe is exceptionally high (€3 trillion in 2019) and there is no empirical evidence as to the extent, if at all, to...

Provides a detailed analytical assessment of the merger and acquisition phenomenon in banking. It advances the prior literature focusing on some specific aspects that have been investigated by only limited previous analysis by assessing the effect produced by M&A transactions on bank efficiency...