Sapo Campus: what users really think about an institutionally supported PLE

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Risk-taking in banks:Does skin-in-the-game really matter?

The belief that bank capital helps improve stability takes for granted the idea that increases in capital are an incentive to reduce risk-taking because bank owners would have more to lose (skin-in-the-game) if their banks fail. Nevertheless, given the higher cost of capital as compared to debt, it is also possible that increases in capital would lead to higher risk-taking due to the need for banks to boost their returns. In light of these contradictory possibilities, we exploit exogenous variations of capital to empirically investigate the actual effects of capital on risk-taking. Our analyses based on a sample of nearly 1,900 US Banking Holding Companies in the 1990-2020 period indicate that increasing capital actually leads to higher risk-taking, which contradicts the skin-in-the-game hypothesis. We show evidence that this relationship could be explained by the consequent increase in funding costs that creates pressure for better returns, which is normally achieved by means of taking higher risk. Our main findings are robust to a number of alternative model and sample specifications

The Creation Process of a Local Museum

The present text holds as its main goal the advance of a number of reflections around the potentialities and problems of local museums taken as development instruments. Secondarily, it also intends to provide support to all those who, in one way or another, have faced the issue of creating a local museum. This support is intended not as a manual of the “the museum made easy” kind, but, instead, as the pointing to some pertinent issues and unavoidable options that, if not taken into account, will come to challenge the form and substance of the future organisation