Advanced Search
MyIDEAS: Login to save this article or follow this journal

An International Comparison of Banks' Equity Returns

Contents:

Author Info

  • Dewenter, Kathryn L
  • Hess, Alan C
Registered author(s):

    Abstract

    This paper tests implications of banking theory and legal theory for cross-country differences in banks' equity betas and returns. Banking theory predicts different risk exposures between transactional banks, found in the United States, the United Kingdom, Australia and Canada, and relationship banks, found in Japan, Germany, Switzerland, and the Netherlands. The authors find strong empirical support for banking theory's prediction of different risks and returns between transactional and relationship banks. Legal theory predicts that differences in banks' equity risks depend on the nature of the legal system for protecting the interests of outside investors. The authors find mixed evidence that banks' returns may vary by the type of legal system.

    Download Info

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below under "Related research" whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Bibliographic Info

    Article provided by Blackwell Publishing in its journal Journal of Money, Credit and Banking.

    Volume (Year): 30 (1998)
    Issue (Month): 3 (August)
    Pages: 472-92

    as in new window
    Handle: RePEc:mcb:jmoncb:v:30:y:1998:i:3:p:472-92

    Contact details of provider:
    Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-2879

    Related research

    Keywords:

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as in new window

    Cited by:
    1. Kho, Bong-Chan & Stulz, Rene M., 2000. "Banks, the IMF, and the Asian crisis," Pacific-Basin Finance Journal, Elsevier, vol. 8(2), pages 177-216, May.
    2. Peik Granlund, 2004. "Economic evaluation of bank exit regimes in US, EU and Japanese financial centres," Finance 0405002, EconWPA.
    3. R. Vander Vennet & O. De Jonghe & L. Baele, 2004. "Bank risks and the business cycle," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 04/264, Ghent University, Faculty of Economics and Business Administration.
    4. Granlund , Peik, 2003. "Economic evaluation of bank exit regimes in US, EU and Japanese financial centres," Research Discussion Papers 5/2003, Bank of Finland.
    5. L. Baele & R. Vander Vennet & A. Van Landschoot, 2004. "Bank Risk Strategies and Cyclical Variation in Bank Stock Returns," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 04/217, Ghent University, Faculty of Economics and Business Administration.

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:mcb:jmoncb:v:30:y:1998:i:3:p:472-92. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.