particular, we ask whether bank-dependent firms suffer greater rollover risk than otherwise similar firms that do not rely on … bank financing (i.e., firms that depend on publicly traded debt). Empirical evidence strongly supports the rollover risk … examine if the rollover risk effect is higher for firms that depend on bank financing, compared with firms without this …

.3% increase in default rates. We present evidence revealing the extent to which bank financing dependence affects the influence of … rollover risk on default risk. Firms that depend on bank financing suffer the strongest rollover risk, especially during crisis …

-linear relationships between firm failure and earnings, leverage, and liquidity in a logistic bankruptcy model. Our results show that … modeling excessive non-linearities yields substantially improved bankruptcy predictions, on the order of 70 to 90 percent …-monotonic bankruptcy relationships. We find that low-leveraged and highly profitable firms are riskier than given by a standard model …

We analyze theoretically how financial synergies among bank affiliates affect banks' choice of organizational structure … analysis has implications for current proposals to “ring-fence” bank-affiliates in different countries and affiliates within …

regulatory requirements. Our analytic characterization of the bank policy choices shows that imposing solely liquidity … requirements leads to lower bank losses in default at the cost of an increased likelihood of default. Combining liquidity … requirements with leverage requirements reduces drastically both the likelihood of default and the magnitude of bank losses in …

This paper investigates the relationship between the two major sources of bank default risk: liquidity risk and credit … between these two risk sources on the bank institutional-level and how this relationship influences banks' probabilities of … risks separately increase the PD, the influence of their interaction depends on the overall level of bank risk and can …