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We examine the current state of the U.S. public corporation and how it has evolved over the last 40 years. After falling by 50 percent since its peak in 1997, the number of public corporations is now smaller than 40 years ago. These corporations are now much larger and over the last twenty years...
Persistent link: https://www.econbiz.de/10012978530
Legal records indicate that conflicts of interest -- that is, situations in which officers and directors were in a position to benefit themselves at the expense of minority shareholders -- were endemic to corporations in the late-nineteenth and early-twentieth century U.S. Yet investors...
Persistent link: https://www.econbiz.de/10013324108
Reserve Board of Governors demonstrate that deposit insurance influenced the composition of bank suspensions in these states … each system, the bank failure rate rose to an unsustainable height and the system ceased operations …
Persistent link: https://www.econbiz.de/10012778253
labor supply in response to productivity shocks. Bank market integration thus contributes to a moderation of firm-level and …
Persistent link: https://www.econbiz.de/10013135057
This paper assesses the impact of the geographic diversification of bank holding company (BHC) assets across the United … States on their market valuations. Using two novel identification strategies based on the dynamic process of interstate bank …
Persistent link: https://www.econbiz.de/10013117404
-rated tranches were economically trivial for the typical bank, but banks with greater holdings performed more poorly during the …-rated tranches are not higher for banks with large trading books in regressions that control for bank size. The ratio of highly …-rated tranches holdings to assets increases with bank assets, but not for banks with more than $50 billion of assets. This evidence …
Persistent link: https://www.econbiz.de/10013121733
the effect of a state's interstate banking regulation on the level and structure of bank CEO compensation. Using panel …
Persistent link: https://www.econbiz.de/10013125319
The "Federalist financial revolution" may have jump-started the U.S. economy into modern growth, but the Free Banking System (1837-1862) did not play a direct role in sustaining it. Despite lowering entry barriers and extending banking into developing regions, we find in county-level data that...
Persistent link: https://www.econbiz.de/10013107211
the area that would eventually become the Manufacturing Belt. Using a new bank census, the paper shows that these changes …
Persistent link: https://www.econbiz.de/10013087050
An examination of U.S. banking history shows that economically efficient private bank money requires that information …-revealing securities markets for bank liabilities be closed. That is, banks are optimally opaque, which is why they are regulated and … examined. I show this by examining the transition from private bank notes, the predominant form of money before the U.S. Civil …
Persistent link: https://www.econbiz.de/10013074293