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Product Mix and Earnings Volatility at Commercial Banks: Evidence from a Degree of Leverage Model
We construct a degree-of-total-leverage framework to test whether and how shifts in product mix affect earnings volatility at 472 U.S. commercial banks between 1988 and 1995. Our framework, which… Expand
Noninterest Income and Financial Performance at U.S. Commercial Banks
Noninterest income now accounts for over 40% of operating income in the U.S. commercial banking industry. This paper demonstrates a number of empirical links between bank noninterest income, business… Expand
How Do Large Banking Organizations Manage Their Capital Ratios?
U.S. banks hold significantly more equity capital than required by their regulators. We test competing hypotheses regarding the reasons for this “excess” capital, using an innovative partial… Expand
Globalization of Financial Institutions: Evidence from Cross-Border Banking Performance
We address the causes, consequences, and implications of the cross-border consolidation of financial institutions by reviewing several hundred studies, providing comparative international data, and… Expand
Nontraditional Banking Activities and Bank Failures During the Financial Crisis
We test whether income from nontraditional banking activities contributed to the failures of hundreds of U.S. commercial banks during the financial crisis. Estimates from a multi-period logit model… Expand
Executive Compensation and Business Policy Choices at U.S. Commercial Banks
We show that contractual risk-taking incentives for chief executive officers (CEOs) increased at large U.S. commercial banks around 2000, when industry deregulation expanded these banks’ growth… Expand
Learning by Observing: Information Spillovers in the Execution and Valuation of Commercial Bank M&As
We offer a new explanation for why academic studies typically fail to find value creation in bank mergers. Our conjectures are predicated on the idea that, until recently, large bank acquisitions… Expand
The Performance of Internet-Based Business Models: Evidence from the Banking Industry
- Robert Deyoung
- Economics, Business
- 1 May 2005
The initial Internet bank startups tended to underperform branching bank startups. This suggested that Internet-only business models were not economically viable for banks. However, firms that… Expand
Foreign-Owned Banks in the United States: Earning Market Share or Buying It?
Foreign-owned U.S. banks have been chronically unprofitable for more than a decade. The authors employ a profit efficiency model introduced by Allen N. Berger, Diana Hancock, and David B. Humphrey… Expand
Mergers and Acquisitions of Financial Institutions: A Review of the Post-2000 Literature
This paper provides a review of the recent financial institution mergers and acquisition (M&A) literature covering over 150 studies. Several robust themes emerge in the post-2000 literature. North… Expand