Financial intermediation has distinct value from transforming financial claims to create
liquidity and mitigate risks. However, research and policy competition analyses often neglect …

We study how intermediaries–mortgage servicers–shaped the implementation of mortgage
forbearance during the COVID-19 pandemic and use servicer-level variation to trace out the …

This study uses a panel data regression model to investigate how internal and external
factors affect the profitability of city commercial banks in China. The research sample …

This paper analyzes efficiency and profitability in the Swiss banking sector over the period
1997–2019. We find strong evidence for scale economies: for most banks in the sample …

Using geographic variation in bank lending, I study how bank real estate losses affected the
supply of credit and employment during the Great Recession. Banks exposed to distressed …

We exploit a tightening of anti-money laundering (AML) enforcement that imposed
disproportionate costs on small banks to examine the effects of a change in bank …

This paper studies a newly compiled data set of annual balance sheets of more than 11,000
commercial banks across 17 advanced economies since 1870. The new data allow us to …

We develop a new methodology that goes all-in machine learning to identify FinTech
innovation, and, in turn, to construct a bank-specific proxy of such innovation in China. Since …

While reliance on human discretion is a pervasive feature of institutional design, human
discretion can also introduce costly noise (Kahneman, Sibony, and Sunstein 2021). We …

Purpose The political influence on the determinants of capital structure has been under-
researched for a long time. Taking the turnover of secretary of municipal committee as a …