Anticipating bailouts: The incentive-conflict model and the collapse of the Ohio deposit guarantee fund
AbstractAn examination of the effect of the collapse of the Ohio Deposit Guarantee Fund on insured financial institutions in the context of the incentive-conflict model developed by Edward Kane, finding that differences in abnormal returns of FDIC and FSLIC firms tend to reaffirm that taxpayer-funded bailouts are a natural outgrowth of the moral-hazard problem that taxpayers face.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Banking & Finance.
Volume (Year): 19 (1995)
Issue (Month): 8 (November)
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Web page: http://www.elsevier.com/locate/jbf
Other versions of this item:
- Ramon P. DeGennaro & James B. Thomson, 1994. "Anticipating bailouts: the incentive-conflict model and the collapse of the Ohio Deposit Guarantee Fund," Working Paper 9407, Federal Reserve Bank of Cleveland.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Brown, Stephen J. & Warner, Jerold B., 1985. "Using daily stock returns : The case of event studies," Journal of Financial Economics, Elsevier, vol. 14(1), pages 3-31, March.
- Cooperman, Elizabeth S & Lee, Winson B & Wolfe, Glenn A, 1992. " The 1985 Ohio Thrift Crisis, the FSLIC's Solvency, and Rate Contagion for Retail CDs," Journal of Finance, American Finance Association, vol. 47(3), pages 919-41, July.
- Stone, Bernell K., 1974. "Systematic Interest-Rate Risk in a Two-Index Model of Returns," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 9(05), pages 709-721, November.
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- Giliberto, Michael, 1985. "Interest Rate Sensitivity in the Common Stocks of Financial Intermediaries: A Methodological Note," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 20(01), pages 123-126, March.
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- Edward J. Kane & George G. Kaufman, 1992. "Incentive conflict in deposit-insurance regulation: evidence from Australia," Proceedings, Federal Reserve Bank of Chicago, pages 42-67.
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- James B. Thomson, 1986.
"The use of market information in pricing deposit insurance,"
8609, Federal Reserve Bank of Cleveland.
- Thomson, James B, 1987. "The Use of Market Information in Pricing Deposit Insurance," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 19(4), pages 528-37, November.
- Boehmer, Ekkehart & Masumeci, Jim & Poulsen, Annette B., 1991. "Event-study methodology under conditions of event-induced variance," Journal of Financial Economics, Elsevier, vol. 30(2), pages 253-272, December.
- Kane, Edward J & Unal, Haluk, 1990. " Modeling Structural and Temporal Variation in the Market's Valuation of Banking Firms," Journal of Finance, American Finance Association, vol. 45(1), pages 113-36, March.
- Cyree, Ken B & DeGennaro, Ramon P, 2002.
" A Generalized Method for Detecting Abnormal Returns and Changes in Systematic Risk,"
Review of Quantitative Finance and Accounting,
Springer, vol. 19(4), pages 399-416, December.
- Ken B. Cyree & Ramon P. DeGennaro, 2001. "A generalized method for detecting abnormal returns and changes in systematic risk," Working Paper 2001-8, Federal Reserve Bank of Atlanta.
- Ying Yan, 1998. "The FDICIA and bank CEOs' pay-performance relationship: an empirical investigation," Working Paper 9805, Federal Reserve Bank of Cleveland.
- Jennergren, L. Peter, 2004. "The Effect on Stock Prices of the Swedish Wealth Tax," Working Paper Series in Business Administration 2004:14, Stockholm School of Economics.
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