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Zigraiova, D., and Havranek, T. (2016). Bank competition and financial stability: Much ado about nothing? Journal of Economic Surveys, 30(5), 944–981. 38 Tables Table 1: Summary of empirical literature Authors / Publication year Risk measure Competition / concentration measure Econometric methods Region Data period Results 1. Empirical literature supporting the competition-fragility view Keely (1990) Market-value capital to assets ratio, interest cost on large CDs Tobin’s q ratio OLS, 2SLS USA 19701986 Increased competition accounts for the decline in banks’ charter values, increasing their default risk.