LYÓCSA, Štefan, Tomáš VÝROST and Eduard BAUMÖHL. Social aspirations in European banks: peer-influenced risk behaviour. Applied Economics Letters. UK: Taylor & Francis, 2019, vol. 26, No 6, p. 473-479. ISSN 1350-4851. Available from: https://dx.doi.org/10.1080/13504851.2018.1486977. |
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@article{1469482, author = {Lyócsa, Štefan and Výrost, Tomáš and Baumöhl, Eduard}, article_location = {UK}, article_number = {6}, doi = {http://dx.doi.org/10.1080/13504851.2018.1486977}, keywords = {Social aspiration; European banks; performance; risk behaviour; prospect theory}, language = {eng}, issn = {1350-4851}, journal = {Applied Economics Letters}, title = {Social aspirations in European banks: peer-influenced risk behaviour.}, url = {https://www.tandfonline.com/doi/full/10.1080/13504851.2018.1486977}, volume = {26}, year = {2019} }
TY - JOUR ID - 1469482 AU - Lyócsa, Štefan - Výrost, Tomáš - Baumöhl, Eduard PY - 2019 TI - Social aspirations in European banks: peer-influenced risk behaviour. JF - Applied Economics Letters VL - 26 IS - 6 SP - 473-479 EP - 473-479 PB - Taylor & Francis SN - 13504851 KW - Social aspiration KW - European banks KW - performance KW - risk behaviour KW - prospect theory UR - https://www.tandfonline.com/doi/full/10.1080/13504851.2018.1486977 L2 - https://www.tandfonline.com/doi/full/10.1080/13504851.2018.1486977 N2 - We test a sample of 3,586 banks from 33 European countries to determine whether performances above or below a social aspiration level (median performance of peer banks) influence banks’ aggregate risk levels. Our results are consistent with the behavioural theory of the firm and prospect theory in that we find that bank performance below a bank’s social aspiration level is followed by increased aggregate risk, i.e. risk-taking behaviour in the subsequent year. Although under-performing banks tend to be risk-takers, large banks and banks with high aggregate risk levels tend to limit the increase in their aggregate risk levels. ER -
LYÓCSA, Štefan, Tomáš VÝROST and Eduard BAUMÖHL. Social aspirations in European banks: peer-influenced risk behaviour. \textit{Applied Economics Letters}. UK: Taylor \&{} Francis, 2019, vol.~26, No~6, p.~473-479. ISSN~1350-4851. Available from: https://dx.doi.org/10.1080/13504851.2018.1486977.
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