This paper expands the commercial bank certification literature by examining the role of banks as issuers of standby letters of credit in the corporate tax-exempt debt market. While considerable evidence for such a role is observed in the equity markets, little has been done to focus on the debt...

We examine the relationship between management ownership and compensation for a sample of savings and loan associations which have recently converted to stock organizations. Previous expense preference literature has indicated that the stock form of organization lessens the potential for...