We test whether measures of potential influence on regulators affect stress test outcomes. The large trading banks … regulatory connections affect the tests. Stress tests have a greater effect on the value of large trading banks' portfolios; the … large trading banks respond by making more conservative capital plans; and, despite their more conservative capital plans …

policy implications as they imply that the same regulation will have different effects on bank risk taking depending on the …This paper conducts the first empirical assessment of theories concerning relationships among risk taking by banks …, their ownership structures, and national bank regulations. We focus on conflicts between bank managers and owners over risk …

may threaten financial stability by increasing bank failures and by increasing the incentives for banks to take on more … but greater risk. This paper argues that most nontraditional activities, such as banks acting as derivatives dealers …, expose banks to risks and moral hazard problems that are similar to those associated with banks' traditional activities, and …

This paper evaluates various explanations for the profitability of momentum strategies documented in Jegadeesh and …

This paper examines the impact of unionization on profit- ability, growth and productivity using time series data on … paper develops a simple theoretical framework for studying the effect of the union on firm performance. A key result of this … examine several indicators of firm performance in assessing the impact of the union. The empirical analysis reveals sizeable …

The purpose of this paper is to treat scale economies, profit-maximizing markups, economic profitability, capacity … run profit potential from markup behavior. As a result, on average economic profits are normal, but declining … profitability is prevalent in most industries since the early 1970s. Also, although cost and revenue shares tend to be approximately …