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This article explores the role of antitrust (or competition) law in the recent historical evolution of the U.S. commercial banking sector. A core component of antitrust law is the calculative practice of market definition, which involves identifying not only the product or service attributes of a market but also, pointedly, its geographic extent. Geographic market definition-and the geographic knowledges it furnishes-is the focus of the article. It argues that these legal market maps (\"the law's markets,\" that is to say) materially shape on-the-ground market and competitive realities. The article develops this argument through a study of the recent history of U.S. antitrust theory and practice in regard to commercial banking. It claims that the particular nature of the geographic models created through this practice is pivotal to explaining the history of evolution of that sector in the final decades of the twentieth century-and most especially, large-scale industry consolidation at the national scale. In the process, the article aims to contribute not only to financial geography but also to three relatively-underdeveloped economic-geographic literatures: on the implication of geographic knowledges in political-economic change; on the geographies of markets; and on the role of the law in economic-geographic transformation.

The subject of research in this paper is the profitability of the biggest banks in the European financial market, some of which operate in Montenegro. The profitability of banks is influenced by a large number of factors, including internal banking and external macroeconomic factors. The aim of this paper is to use statistical and econometric methods to examine which factors and with what intensity affect the profitability of large banks in Europe. The empirical analysis used highly balanced panel models with annual data on 47 large banks from 14 European countries over the period 2013-2018. Three static panel models were estimated and evaluated (pooled ordinary least squares, model with fixed effects and model with random effects), as well as dynamic model utilizing general methods of moments. The POLS model was chosen as the best, confirming that all macroeconomic factors have a statistically significant impact on the profitability of big banks, while the impact of internal factors, which are controlled by the bank's management, is not significant. GDP growth rate, inflation rate and market concentration have a positive effect on profitability, while the membership of the European Union has a negative impact on profit, meaning that banks with headquarters outside the EU are more profitable.

This article has a concrete plan in Third Act, an organizing project to help to solve the climate crisis. Older Americans need to use their political power to support the right candidates and their substantial monetary gain to pressure banks to stop supporting the fossil fuel industry.

We investigate how the 2014-2016 depreciation of the euro against the US dollar triggered a cascade effect on the European supply chains which reduced the current account imbalances among the EU member states. In particular, we analyze the specific case of Greece to verify whether the higher export demand towards the USA in the two main European exporting countries, Germany and Italy, increased the demand for Greek goods and services by the German and Italian economies. We employee a linear ARDL model which is able to track short- and long-term effects of the depreciation on the industries of Greece with respect to Germany, Italy and the USA for the period 2010-2016 using bilateral monthly data. The empirical findings show that the euro depreciation increased the integration between the German and Greek production structures in various industries representing more than 35% of the entire trade between the two countries.

Purpose This study aims to explore the use of corporate social responsibility (CSR) disclosures by the “Big Four” Australian banks post the banking royal commission (BRC) to manage their reputational risk. Design/methodology/approach This paper uses a case study approach through a thematic analysis of the Big Four banks’ annual and sustainability reports and uses reputation risk management (RRM) as a conceptual lens to explore the image restoration strategies used by these banks. Findings The study finds that a corrective action strategy was disclosed extensively by all four banks whereby each bank outlined the actions that they were undertaking to correct the deficiencies identified by the BRC. However, the impact of these proposed actions was tampered by the fact that each bank sought to use strategies to reduce the offensiveness of their misdemeanours. It is argued that while disclosure on corrective actions and compensation is useful, an emphasis on reducing offensiveness of actions impacts the effectiveness of banks’ responses and their acceptance of full responsibility for their actions. Research limitations/implications This paper applies the RRM perspective to a recent reputation damaging event, thereby expanding the literature on image restoration strategies used by companies during major incidents. Practical implications This study provides useful insights in relation to the approaches used to manage the reputational risk arising from the BRC. It provides insights into the credibility of information disclosed post an incident and has potential implications for the assurance of such information. Social implications Given the critical importance of the banking industry to modern society, misconduct in this sector needs a closer examination, requiring a greater need for responsibility from its key players. Originality/value This study extends the applicability of the RRM perspective to a social incident and highlights that it is reputation, rather than legitimacy, that is critical when organisations in an industry face extensive public scrutiny. A thematic analysis approach adds value to the methods used for analysing CSR disclosures.

Este artículo ofrece una lectura crítica de economía política sobre las normas bancarias globales formuladas en el Comité de Basilea y el Consejo de Estabilidad Financiera. Al examinar el sesgo político en reglas que aparentan ser neutrales, dilucidar el liderazgo intelectual de los espacios tecnocráticos donde se desarrollan dichas normas, y analizar la legitimidad que estos espacios y sus normas adquieren frente a actores clave, se argumenta que el discurso económico dominan - te en estas regulaciones, aunque aparentemente apolítico, está alineado con la consolidación de una estructura hegemónica que favorece a los bancos demasiado grandes para quebrar.

Although access to financing in Pakistan is expanding quickly, it is two to four times lower than regional benchmarks. Half of Pakistani adults, mostly women, do not engage with the financial system at all, and only 14 percent have access to formal services. Credit for small- and medium-size enterprises is rationed by the financial system. The formal microfinance sector reaches less than 2 percent of the poor, as opposed to more than 25 percent in neighboring countries. Yet it is the micro- and small businesses, along with remittances, that help families escape the poverty trap and participate in the economy. 'Bringing Finance to Pakistan's Poor' is based on a pioneering and comprehensive survey and dataset that measures the access to financial products by Pakistani households. The survey included 10,305 households in all areas of the country, excluding the tribal regions. The accompanying CD contains summary statistics. The authors develop a picture of access to and usage of financial services across the country and across different population groups, and they identify policy and regulatory priorities. Reform measures in Pakistan have been timely, but alone are not enough; financial institutions have lagged behind in adopting technology, segmenting customer bases, diversifying products, and simplifying processes and procedures. Gender bias and low levels of financial literacy remain barriers, as is geographical remoteness. However, the single strongest cause of low financial access is lack of income—not location, education, or even gender. 'Bringing Finance to Pakistan's Poor' will be of great interest to readers working in the areas of business and finance, economic policy, gender and rural development, and microfinance.

The objective of the study was to comparatively assess the impact of credit risk on the performance of big and small banks in South Africa. Data from audited financial reports of 14 commercial banks were obtained and divided into two panel data sets and analysed using the R-Studio software version 3.5.1 to assess the impact of capital adequacy ratio (CAR), non-performing loan to gross loan (NPLGL), loan-to-deposit ratio (LTDR), leverage ratio (LR), board gender diversity (BGD), with bank size (total asset) and AGE as control variables, on performance, (return on asset [ROA] and return on equity [ROE]). The findings of the study revealed that non-performing loan (NPL), CAR, LR, LTDR and age of banks all have significant and greater impact on performance, as measured by ROA, of small banks when compared with big banks. Surprisingly, NPL was revealed to have a lesser impact on the ROE of small banks as compared to the ROE of big banks but showed no impact on the ROA of big banks during the period of 2008–2017.

PurposeThis paper explains the value of interpreting the design of a country's financial safety net as an exercise in incomplete social contracting.Design/methodology/approachSafety net contracts unlucky financial institutions and customers to transfer some or all of what would otherwise be ruinous losses to taxpayers in other sectors. Their capacity to do this is based on a series of unspoken and slowly varying cultural norms that govern when government support is supplied to an insolvent bank, in what forms, on what terms and under what limitations. Identifying these norms is the purpose of this paper. Identifying similarities in the norms that hold sway in the United States and China is the main contribution this paper has to offer.FindingsRegulators do not want to face the consequences of challenging large insolvent banks' claims that funding problems that their managers know to be hopeless reflect a spate of reversible bad luck and a temporary shortfall in liquidity. In hopes of shifting the problem forward to their successors, regulators forbear from meaningful intervention until and unless crisis-driven depositor runs force them into action.Research limitations/implicationsThis means that much like US rescue arrangements, one can demonstrate that the Chinese safety net is incomplete in four ways. It does not fully delineate the events that trigger a loss transfer. It sets formal but imperfectly enforceable limits on the size of potential loss transfers. The political obligations that actually persuade state actors to bail out major banks in a crisis are largely implicit and optional in timing, magnitude and transparency. Finally, the identity of the citizens who will be forced to absorb the costs of crisis bailouts is also optional. Who pays and how they do so will be determined in part during the crisis but will not be finalized until well after the crisis has blown over.Originality/valueThe analysis makes it clear that authorities, express commitment to fair and efficient modes of financial supervision is destined to break down under crisis pressure unless the disadvantaged equity stake that the safety net assigns to taxpayers is rebalanced to record and collect taxpayers' deserved share of the profits a country's megabanks book during booms.

A seldom discussed part of the 2010 Dodd–Frank Act (DFA) is how the deposit insurance assessment alteration impacted different types of banks. We provide details of the reform and investigate the effects on the banking industry. The DFA called for an expansion of the assessment base used to determine deposit insurance fees, along with a simultaneous reduction in assessment rates, so as to not raise additional fees paid. This reform did not affect all banks the same as a result of very different business models. The reform was aimed to benefit community banks at the expense of non-community banks. We estimate that community banks in the aggregate benefitted by more than $3.7 billion in deposit insurance fee reductions since the reform’s implementation in 2011. While non-community banks initially experienced increased fees, offsetting the benefits to community banks, we find evidence that non-community banks in the aggregate adjusted their funding behavior so that all but the largest banks also enjoyed benefits from the reform during our sample period.