Many large U.S. bank holding companies (BHCs) continued to pay dividends during the recent financial crisis, even as financial market conditions deteriorated, large losses accumulated, and emergency capital and liquidity were being provided by the official sector. In contrast, share repurchases...

Bank payout policy is strongly affected by regulation and politics, especially for the largest banks. Banks, but not industrial firms, have consistently lower payouts in times of high regulation uncertainty and under democratic presidents. After the Global Financial Crisis, bank regulators'...

Mergers and Acquisitions (M&A) are considered to be on the fast track for increasing the size, expanding branch network, and enlarging business operations. The evolution of M&A has been long drawn. In this paper, an attempt has been made to determine the shareholder value addition consequent to...

The most concise definition of The Efficient Market Hypothesis is “The expected value of abnormal returns is zero, but chance generates deviations from zero (anomalies) in both directions” Fama (1998). The present event study gives evidence for the semi-strong form of market efficiency as...