of capital from cash flow and discount rate news in bank stock returns, we show that the lower returns do not suggest … evidence points to the nontrivial role of investors' inefficient forecasts of expected bank risk and fundamentals …

the highest financial damages. Using a comprehensive future flood risk measure matched to bank holding companies in the … smaller and less levered banks. Furthermore, I construct a flood risk factor from bank returns that cannot be entirely … explained by the conventional bank risk factors. And, I show that the flood risk factor can explain up to 30% of the variance of …