Cornett, Marcia Millon; Ors, Evren; Tehranian, Hassan - In: Journal of Finance 57 (2002) 1, pp. 501-521
As of 1987, commercial banks in the United States were allowed to establish Section 20 subsidiaries to conduct investment-banking activities. A concern of regulators was that these activities would result in a decrease in performance of commercial banks relative to the risk being undertaken....
