Banking, Corporate Governance & Managerial Compensation

“The Impacts of Stricter Merger Legislation on Bank Mergers and Acquisitions: Too-Big-To-Fail and Competition” (W.P. Version) with E. Carletti, S. Ongena and J.P. Siedlarek, in Journal of Financial Intermediation, Vol 46, 2021. 

“Financial Stability and Central Bank Governance”, with M. Koetter and K. Roszbach, in The International Journal of Central Banking, December 2014, 10(4), 31-67. 

“Bank Mergers, Competition and Liquidity”, with E. Carletti and P. Hartmann, Journal of Money, Credit, and Banking, 2007, 39(5), 1067-1107. 

“Managerial Incentives and Collusive Behavior”, European Economic Review 49(6), 2005, 1501-1523. 

“Stock-Related Compensation and Product-Market Competition,” RAND Journal of Economics, vol. 31/1, 2000, 22-42. 

“Relative Performance Evaluation, Sabotage and Collusion,” with M. Bloomfield and C. Marvao, CEPR Dp., No 15115, second revision at the Journal of Accounting and Economics. 

“Saving the Banks, but not Reckless Bankers”, Ch. 5.3 of J. Danielsson (Ed.), Post-Crisis Banking Regulation, 2015, an eBook by the Center for Economic Policy Research, London. 

“Bank Competition in Europe: Competition Authorities at Work in the Wake of the Financial Crisis”, with E. Carletti, C. Giannetti and S. Caiazza, in World Competition, 2010, 33(4). 

“Corporate Governance and Collusive Behavior”, with P. Buccirossi, in Dale W. Collins (Ed.) Issues in Competition Law and Policy, 2008, Antitrust Section, American Bar Association. 

“Implications of the Bank Merger Wave for Competition and Stability” (with P.Hartmann and E. Carletti), in Risk Measurement and Systemic Risk: Proceedings of the Third Joint Central Banks Research Conference, 2002, Board of Governors of the Fed, ECB and Bank of Japan. 

2014, “Debt, Managers and Cartels,” with S. Piccolo, CSEF Working Paper No. 365. 

2010, “Information Sharing and Bank Entry Mode,” with N. Jentzsch and C. Giannetti, DIW Working Paper 980, based on ECRI Report No. 11, 

2008, “Governing the Governors: a Clinical Study of Central Banks” with K. Roszbach and L. Frisell, CEPR Discussion Paper No. 6888 (Sveriges Riksank Working Paper 221), press coverage in Financial Times: “Accountability Fears over Central Bankers”, March 24, 2008, p. 3. 

2003 “Banks as Collusive Devices”, extended version of “Debt as a (Credible) Collusive Device,” SSE Working Paper 243, Winner of the 1998 SFA Best Ph.D. Paper Award and of EARIE99’s Young Economist Essay Competition; also presented at EEA99 and at the Financial Intermediation Society meeting, Capri, May 2004. 

2002, “Constitutions and Central Bank Independence,” with P. Giordani, SSE Working Paper 426 (available from http://www.swopec.se/). 

“Limited Records and Credit Cycles,” with S. Kovbasyuk and A. Larinskji