Keywords: Pro-cyclicality
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Journal Articles
Journal of Capital Markets Studies (2022) 6 (1): 33–47.
Published: 26 October 2021
.... Based on the model of the paper, the fundamental condition for disciplinary takeovers to be effective is that stock prices reflect fundamentals. However, due to some key distinguishing characteristics of large banks including information asymmetry, pro-cyclicality, high leverage and “too-big-to-fail...

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