This paper examines the issue of underpricing for converting thrift institutions. Evidence has found this underpricing to be pervasive in the mutual-to-stock thrift conversion process. The issue is of importance given the debate over whether any windfall gains should accrue to depositors,...

Purpose – The purpose of this paper is to provide an overview of the major provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act passed by the US Congress and signed into law by President Obama on July 21, 2010. Design/methodology/approach – This does not offer any...

This paper evaluates factors that encourage or impede cross-border mergers and acquisitions in banking. The effects of bank specific features, as well as bank regulatory factors, from both target and acquiring banks' perspectives, are estimated. Three comprehensive databases are combined to...

ESOPs have the potential to align the interests of employees and owners and may increase firm value. However, employee ownership may also strengthen the position of entrenched management. The literature predicts that firms newly protected from takeover threat will tend to (1) increase long-term...

For the past half century, European countries have moved to harmonize their economies. While there has been a push for a single banking market in Europe, the 25 European Union (EU) countries have still not achieved full harmonization. The purpose of this study is to explore similarities and...

The main purpose of this paper is to investigate macroeconomic variables that are predictive of banking crisis. We focus on selecting variables that have high predictive power to discriminate between two groups of countries: the sound and the distressed. We consider a sample of 50 emerging...