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Efficient risk-taking and regulatory covenant enforcement in a deregulated banking industry

DeYoung, Robert; Hughes, Joseph P.; Moon, Choon-geol - 1999

Over the past two decades, a variety of deregulatory measures have increased competition in the U.S. commercial banking … incentives for banks to take additional risk, potentially threatening the safety of banking and payments system. Commercial bank …

Persistent link: https://www.econbiz.de/10011576562

Recovering risky technologies using the almost ideal demand system : an application to U.S. banking

Hughes, Joseph P.; Lang, William W.; Mester, Loretta J.; … - 2000 - This draft: September 2000

between the risk-incentives literature in banking that ignores the microeconomics of production and the production literature …

Persistent link: https://www.econbiz.de/10011576770

Market discipline working for and against financial stability : the two faces of equity capital in U.S. commercial banking

Hughes, Joseph P.; Mester, Loretta J.; Moon, Choon-geol - 2016

The second Basel Capital Accord points to market discipline as a tool to reinforce capital standards and supervision in promoting bank safety and soundness. The Bank for International Settlements contends that market discipline imposes strong incentives on banks to operate in a safe and...

Persistent link: https://www.econbiz.de/10011582019

Measuring agency costs and the value of investment opportunities of U.S. bank holding companies with stochastic frontier estimation

Hughes, Joseph P.; Mester, Loretta J.; Moon, Choon-geol - 2016

By eliminating the influence of statistical noise, stochastic frontier techniques permit the estimation of the best-practice value of a firmś investment opportunities and the magnitude of a firmś systematic failure to achieve its best-practice market value - a gauge of the magnitude of agency...

Persistent link: https://www.econbiz.de/10011490908