Interest rate and institutional data from thirteen OECD countries are used to test whether depositors view the provision of deposit insurance and restrictions on permissible bank activities as risk-increasing or -decreasing. On average, the deposit risk premium is 25 basis points lower in...

Insider ownership and antitakeover provisions affect a firm's vulnerability to takeover, its value, and its managers' incentives and utility. We examine the simultaneous determination of insider ownership and takeover protection using data from mutual savings and loan associations converting to...

Previous research concludes that companies with an established bank borrowing relationship receive certification benefits. Evidence from initial public offerings (IPOs) suggests that certification signals low risk and results in less run-up in price after the offering than firms with no...

In this paper, we investigate the disciplining role of banks and bank debt in the market for corporate control. We find that relationship bank lending intensity and bank client network have positive effects on the probability of a borrowing firm becoming a target. This effect is enhanced in...