F. Allen, E. Carletti, and R. S. Marquez, Credit Market Competition and Capital Regulation, Review of Financial Studies, vol.24, issue.4, pp.983-1018, 2011.
DOI : 10.1093/rfs/hhp089

I. Alfon, I. Argimon, and P. Bascunana-ambros, What determines how much capital is held by UK banks and building societies? Occasional paper No 22, 2004.

M. Arellano and S. Bond, Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations, The Review of Economic Studies, vol.58, issue.2, pp.277-297, 1991.
DOI : 10.2307/2297968

J. Ayuso, D. Perez, and J. Saurina, Are capital buffers pro-cyclical?, Journal of Financial Intermediation, vol.13, issue.2, pp.249-264, 2004.
DOI : 10.1016/S1042-9573(03)00044-5

URL : http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.225.1675

J. Barth, R. , G. Caprio, J. , and R. Levine, Bank regulation and supervision: what works best?, Journal of Financial Intermediation, vol.13, issue.2, pp.205-248, 2004.
DOI : 10.1016/j.jfi.2003.06.002

A. Berger, R. Herring, and G. Szegö, The role of capital in financial institutions, Journal of Banking & Finance, vol.19, issue.3-4, pp.393-430, 1995.
DOI : 10.1016/0378-4266(95)00002-X

A. Berger, R. Deyoung, M. J. Flannery, D. Lee, and Ö. Öztekin, How Do Large Banking Organizations Manage Their Capital Ratios?, Journal of Financial Services Research, vol.79, issue.2, pp.123-149, 2008.
DOI : 10.1007/s10693-008-0044-5

T. Bernauer and V. Koubi, Taking Firms and Markets Seriously: A Study on Bank Behavior, Market Discipline, and Regulation, CIS working paper, 2006.
DOI : 10.2139/ssrn.933071

R. R. Bliss, Market discipline and subordinated debt: A review of some salient issues, Federal Reserve Bank of Chicago Economic Perspectives, pp.24-45, 2001.

R. R. Bliss and M. J. Flannery, Market discipline in the governance of US Bank Holding Companies: Monitoring versus influencing, Mishkin F. S. Prudential Supervision : What Works and What Doesn't, 2001.

D. Young, R. , M. J. Flannery, W. W. Lang, and S. M. Sorescu, The Information Content of Bank Exam ratings and Subordinated Debt Prices, Journal of Money, Credit and Banking, vol.33, issue.4, pp.900-925, 2001.

. Mktdisc_junior, total liabilities ; Mktdisc_Senior2 = Total money market funding/ total liabilities; Mktdisc = Total market funding/ total liabilities ; Logta = Natural logarithm of total assets ; Comp = Annual mean of the buffer of banks in the same country ; Gdpg = Annual growth rate of the gross domestic product