Cebula, Richard J. - In: The Review of Regional Studies 26 (1996) 1, pp. 41-53
Based on a constrained S&L profit-maximization model, this empirical study estimates six reduced-form equations, using a heteroskedasticity correction, to identify the factors influencing the rate of return on S&L assets. For the years 1988 and 1989, the results consistently imply that the rate...