PHILIP MOLYNEUX is Professor in Banking and Finance at the University of Wales, Bangor, UK He has published widely in the banking and financial services area and has acted as a consultant to a wide range of international organizations and financial service firms. His main research interests focus on the structural features of banking systems and bank performance. ELEUTERIO VALLELADO is currently Vice Chancellor for Strategic Planning and Professor of Finance at University of Valladolid, Spain. He has published widely in corporate finance and banking areas. His research interests includ

• Introduction; P.Molyneux & E.Vallelado Banking Mergers and Acquisitions' Performance in Europe; R.Ayadi Cross-border Bank M&A in Emerging Markets: Value Creation or Destruction?; J.Williams & A.Liao Bank Capital and Loan Pricing: Implications of Basle II; T.Lindblom & M.Olsson Capital Market Frictions and Bank Lending in the EU; Y.Altunbas, D.Marques & B.Zhussupova Banks in the Microfinance Market; M. LaTorre & G.Vento Migrants and Financial Servies: Which Opportunities for Financial Innovation?; L.Anderloni & D.Vandone Deepening Banking Reforms of China to Ensure Sustainable Growth in a Global World; R.van der Linden Efficiency and Productivity Change in Greek Banking: Methods and Recent Evidence; G.E.Chortareas, C.Girardone & A.Ventouri Electronic Money Use: Evidence from Survey Data; D.Pelilli