“… this paper argues that recent #eu #regulatory reform to #corporategovernance, as a means to improve #financialstability is a large-scale intellectual fallacy. Absent EU-wide structural reform to control #risktaking in large and complex #financialinstitutions, the stability of the EU #bankingsector will remain compromised. Smaller and less interconnected #banks will both improve bank corporate governance and create a safer and more stable #financialsector.”
Market Discipline and EU Corporate Governance Reform in the Banking Sector: Merits, Fallacies, and Cognitive Boundaries
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