Financial Penalties and the Systemic Risk of Banks

摘要: This study analyzes the impact of financial penalties on stability banking sector. Using a unique database 671 imposed between 2007 and 2014 68 international listed banks, we systemic risk banks. We obtain evidence for significant negative relation banks’ exposure but not contribution. also demonstrate that characteristics regulatory supervisory system given country affect exposure. Our results contribute to ongoing debate appropriateness address question whether bank regulators limit or risk.