Depositor discipline for better or for worse. What enhanced depositors' confidence on the banking system in the last ten years?

We found the presence of depositor discipline and also depositors' moral hazard behaviours. The results suggest that depositor discipline worked differently through the periods analysed according to the relevant changes in the economic conditions. Moreover, the specific features of DISs did not influence depositor discipline before and during the crisis; conversely they have proven to be positively evaluated by depositors in the post-crisis period.