Search Results

Showing results 1 to 10 of approximately 75.

(refine search)

SORT BY: PREVIOUS / NEXT

All:
Title:
Author:
Abstract:
Keywords:

+ Add Search Parameter

Journal Article
The persistence of bank profits: what the stock market implies
Levonian, Mark E. (1994)
This paper examines the speed with which abnormal economic profits vanish in the U.S. banking industry. A model is developed to infer expected speeds of profit adjustment from stock market and financial accounting data, deriving the rate of adjustment that is most consistent with observed cross-sectional relationships between bank stock prices and profitability. The model allows for the possibility that reported accounting income may be a biased and noisy signal of economic profit. Estimation is performed using generalized nonlinear least squares on a pooled series of cross sections. The ...
Economic Review

Conference Paper
The effect of new capital issues on the prices of holding company shares
Brown, Donald M.; Isberg, Steven C. (1987)
Proceedings , Paper 179

Conference Paper
Off-balance-sheet items and the changing market and interest-rate sensitivity of deposit-institution equity returns
Unal, Haluk; Kane, Edward J. (1987)
Proceedings , Paper 171

Working Paper
Bank foreign lending, mandatory disclosure rules and the reaction of bank stock prices to the Mexican debt crisis
Smirlock, Michael; Kaufold, Howard (1986)
Working Papers , Paper 86-14

Working Paper
Returns to bidders and targets in the acquisition process: evidence from the banking industry
Wolken, John D.; Hannan, Timothy H. (1989)
Finance and Economics Discussion Series , Paper 64

Working Paper
Changes in interstate banking laws: the impact on shareholder wealth
Schweitzer, Robert; Fields, M. Andrew; Black, Harold A. (1988)
Working Papers , Paper 88-16

Journal Article
Owners versus managers: who controls the bank?
Mester, Loretta J. (1989-05)
Business Review , Issue May , Pages 13-23

Conference Paper
Equity and bond market signals as leading indicators of bank fragility
Gropp, Reint; Vulpes, Giuseppe; Vesala, Jukka M. (2002)
We analyse the ability of equity market-based distances-to-default and subordinated bond spreads to signal a material weakening in banks' financial condition. Using option pricing, we show that both indicators are complete and unbiased indicators of bank fragility. We empirically test these properties using a sample of EU banks. Two different econometric models are estimated: a series of logit-models, which were estimated for different time-leads, and a proportional hazard model. We find support in favour of using both the distance-to-default and spread as leading indicators of bank ...
Conference Series ; [Proceedings]

Working Paper
Offer-price discount of bank seasoned equity offers: do voluntary and involuntary offers convey different information?
Krishnan, C. N. V.; Singh, Ajai K.; Ergungor, O. Emre; Zebedee, Allan A. (2005)
Seasoned equity offers made by undercapitalized banks (labeled involuntary offers) could be different from other seasoned equity offers because the issuer is presumably under regulatory duress to make up the shortfall in required capital. For this reason, involuntary offers may exhibit limited managerial opportunism. When a firm issues seasoned equity, investment bankers gather information about the issuer in the period between the registration of the offer and its issue date. The information gathered during the book-building process gets reflected in the offer price discount on the issue ...
Working Papers (Old Series) , Paper 0515

Working Paper
Bank seasoned equity offers: do voluntary and involuntary offers differ?
Krishnan, C. N. V.; Singh, Ajai K.; Ergungor, O. Emre; Zebedee, Allan A. (2004)
Recent research has shown that for industrial and utilities? seasoned equity offers (SEOs) the offer price discount is informative and has significant price effects. We examine whether the offer price discount for SEOs made by undercapitalized banks is different from those made by banks that were already overcapitalized prior to issue announcement. The former are labeled "involuntary" issues, and the latter "voluntary." Voluntary issues are likely made by opportunistic managers at times when their stock is overvalued. Prior research has argued and provided evidence suggesting that for ...
Working Papers (Old Series) , Paper 0414

PREVIOUS / NEXT

Fed in Print

Search Results

FILTER BY year

FILTER BY Bank

FILTER BY Series

FILTER BY Content Type

FILTER BY Author

FILTER BY Jel Classification

FILTER BY Keywords