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 …

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 …

supervisory/regulatory policies on bank valuations. Except in a few countries with very strong shareholder protection laws, banks … cash flow rights mitigate the adverse effects of weak shareholder protection laws on bank valuations. These results are …

the ramifications of ownership, shareholder protection laws, and supervisory/regulatory policies on bank valuations … weak shareholder protection laws on bank valuations. These results are consistent with the views that expropriation of …

of the traditional bank business model. Specialized providers of financial services can chip away activities that do not …

greater insider ownership leads to less equity issuances. Several tests are consistent with the view that bank insiders are … between bank equity and lending, the results stress that ownership structure can shape the resilience of banks — and hence the …

capitalization ratios of small US bank holding companies (BHCs) are substantially lower than the reported ratios. Empirical evidence … deductions for investments in minority-owned affiliates. These findings have important implications for the regulation of bank …

to individual banks in the Merton tradition (1974) as a combination put option for the deep tail of bank losses and a … knock-in stop-loss call on bank assets. This model expresses the value of taxpayer loss exposure from a string of defaults … the face value of the debt of the entire sector. We conceive of an individual bank's systemic risk as its contribution to …

We develop a new identification strategy to evaluate the impact of the geographic expansion of bank holding company … (BHC) assets across U.S. metropolitan statistical areas (MSAs) on BHC risk. We find that the geographic expansion of bank …