In our study we investigate the impact of the European Union integration process on banks' efficiency and the convergence of cost efficiency across banking systems from Central and Eastern European countries from 2004 to 2010. We observe large differences in the level of cost efficiency between...

This paper investigates the impact of governance and regulation on systemic risk across a sample of banks from 10 Emerging CEE countries during 2005-2012. Overall, our results show that tight internal risk management mechanisms and shareholder-friendly supervisory boards are associated with...

This paper revisits the relationship between interest rates and exchange rates in a small open emerging economy using wavelet-based methodologies. Based on data for Romania, our results confirm the theoretical predictions on the interest rate - exchange rate relationship during turmoil or policy...

This paper investigates the impact of board diversity on the performance and risk of banks. We put an emphasis on identifying features of the board structure that could increase performance and lower the possible losses of banks. Using a unique, hand-collected dataset of 156 banks from Central...

This paper investigates the effect of international swap lines on stock returns using data from banks in emerging markets. The analysis first shows that swap lines by the Swiss National Bank (SNB) had a positive impact on bank stocks in Central and Eastern Europe. It then highlights the...

This paper investigates the impact of foreign currency (FX) denominated assets and liabilities on systemic risk using a unique hand-collected dataset of bank-level FX positions for the period 2005-2012. The sample consists of banks from Central and Eastern Europe with large share of FX exposures...

This paper investigates the impact of corporate governance on bank efficiency across a sample of 139 commercial banks from 17 countries of Central and Eastern Europe during the period 2005-2012. The empirical findings indicate that implementing rigorous corporate governance structures is...