We study the effect of bank merger deregulation on market structure and wages in the banking industry. We show that state deregulation of bank mergers and acquisitions increased the market share of large, multi-state banks and lowered wages for bank workers by up to 8 percentage points, with...

This paper considers how companies use their own mass communication media to create, with the aid of metaphors, a legitimizing image of their practices. The analysis is based on the example of two banks, both of which undertook massive staff and cost reductions between 2001 and 2003. Downsizing...

This study presents an alternative way of estimating credit transition matrices using a hazard function model. The model is useful both for testing the validity of the Markovian assumption, frequently made in credit rating applications, and also for estimating transition matrices conditioning on...

This paper considers how companies use their own mass communication media to create, with the aid of metaphors, a legitimizing image of their practices. The analysis is based on the example of two banks, both of which undertook massive staff and cost reductions between 2001 and 2003. Downsizing...