are regulated, including the need to obtain a charter to operate and explicit and implicit federal guarantees of bank … liabilities to reduce the probability of bank runs. These aspects of banking affect a bankś choice of risk vs. expected return …, which, in turn, affects bank performance. Banks have an incentive to reduce risk to protect the valuable charter from …

intermediation. In one structure, called Bank, the intermediary is financed by issuing debt contracts to investors, and thus …

competition between a bank and a microfinance institution (MFI), geographical distance and transportation costs alone are no … client play determinant roles in dividing the credit market between a bank and an MFI. …

experiment conducted in a bank. In the treatment group managers obtained access to objective performance measures which raised …