This paper reviews the literature on the effects of combining banking and nonbank financial activities on banking organizations' risk and return. In general, securities activities, insurance agency, and insurance underwriting are all riskier and more profitable than banking activities. They also...

This paper examines the properties of X-inefficiency and the relations of X-inefficiency with risk-taking and stock returns for U.S. banking firms. After controlling for scale differences, the average small size banking firm is found to be relatively less efficient than the average large firm....

This paper examines the impact of deposit rate deregulation on the market value of banks in Hong Kong. We do not find that the release of the Consumer Council's Report "Are Hong Kong Depositors Fairly Treated?" in 1994 was associated with any significant stock market reaction, contrary to the...