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Risk Return, And Managerial Objectives: Some Evidence From The Savings And Loan Industry

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  • James A. Verbrugge
  • Steven J. Goldstein

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  • James A. Verbrugge & Steven J. Goldstein, 1981. "Risk Return, And Managerial Objectives: Some Evidence From The Savings And Loan Industry," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 4(1), pages 45-58, March.
    • Handle: RePEc:bla:jfnres:v:4:y:1981:i:1:p:45-58
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    1. Harvey Leibenstein, 1972. "Comment on the Nature of X-Efficiency," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 86(2), pages 327-331.
    2. Paul H. Cootner & Daniel M. Holland, 1970. "Rate of Return and Business Risk," Bell Journal of Economics, The RAND Corporation, vol. 1(2), pages 211-226, Autumn.
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    4. Franklin R. Edwards & Arnold A. Heggestad, 1973. "Uncertainty, Market Structure, and Performance: The Galbraith-Caves Hypothesis and Managerial Motives in Banking," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 87(3), pages 455-473.
    5. Goldfeld, Stephen M & Jaffee, Dwight M, 1970. "The Determinants of Deposit-Rate Setting by Savings and Loan Associations," Journal of Finance, American Finance Association, vol. 25(3), pages 615-632, June.
    6. Kania, John J & McKean, John R, 1976. "Ownership, Control, and the Contemporary Corporation: A General Behavior Analysis," Kyklos, Wiley Blackwell, vol. 29(2), pages 272-291.
    7. Lapp, John S, 1978. "The Determination of Savings and Loan Association Deposit Rates in the Absence of Rate Ceilings: A Cross-Section Approach," Journal of Finance, American Finance Association, vol. 33(1), pages 215-230, March.
    8. Cassidy, Henry J, 1976. "Estimates of the Aggregate Impact of Expected Windfalls for a Portion of the S&L Industry," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 8(4), pages 477-485, November.
    9. Benston, George J, 1972. "Economies of Scale of Financial Institutions," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 4(2), pages 312-341, May.
    10. Stigum, Marcia L, 1976. "Some Further Implications of Profit Maximization by a Savings and Loan Association," Journal of Finance, American Finance Association, vol. 31(5), pages 1405-1426, December.
    11. McKean, John R & Kania, John J, 1978. "An Industry Approach to Owner-Manager Control and Profit Performance," The Journal of Business, University of Chicago Press, vol. 51(2), pages 327-342, April.
    12. Boyd, John H, 1973. "Some Recent Developments in the Savings and Loan Deposit Markets," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 5(3), pages 733-750, August.
    13. I. N. Fisher & G. R. Hall, 1969. "Risk and Corporate Rates of Return," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 83(1), pages 79-92.
    14. John Palmer, 1973. "The Profit-Performance Effects of the Separation of Ownership from Control in Large U.S. Industrial Corporations," Bell Journal of Economics, The RAND Corporation, vol. 4(1), pages 293-303, Spring.
    15. Harvey Leibenstein, 1975. "Aspects of the X-Efficiency Theory of the Firm," Bell Journal of Economics, The RAND Corporation, vol. 6(2), pages 580-606, Autumn.
    16. Mingo, John J, 1976. "Managerial Motives, Market Structures and the Performance of Holding Company Banks," Economic Inquiry, Western Economic Association International, vol. 14(3), pages 411-424, September.
    17. Taggart, Robert A, Jr, 1978. "Effects of Deposit Rate Ceilings: The Evidence from Massachusetts Savings Banks," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 10(2), pages 139-157, May.
    18. Heggestad, Arnold A, 1977. "Market Structure, Risk and Profitability in Commercial Banking," Journal of Finance, American Finance Association, vol. 32(4), pages 1207-1216, September.
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    Cited by:

    1. Hasan, Iftekhar & Lozano-Vivas, Ana, 2002. "Organizational Form and Expense Preference: Spanish Experience," Bulletin of Economic Research, Wiley Blackwell, vol. 54(2), pages 135-150, April.
    2. Kozo Harimaya & Kei Tomimura & Nobuyoshi Yamori, 2015. "Disciplinary Pressure is More Necessary for Cooperative Banks Than Stock Banks: Results from Bank Efficiencies Estimation," Discussion Paper Series DP2015-05, Research Institute for Economics & Business Administration, Kobe University, revised May 2016.
    3. Arnold, Eva A. & Größl, Ingrid & Koziol, Philipp, 2016. "Market discipline across bank governance models: Empirical evidence from German depositors," The Quarterly Review of Economics and Finance, Elsevier, vol. 61(C), pages 126-138.
    4. Nobuyoshi Yamori & Kozo Harimaya & Kei Tomimura, 2017. "Corporate governance structure and efficiencies of cooperative banks," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 22(4), pages 368-378, October.
    5. Karels, Gordon V. & McClatchey, Christine A., 1999. "Deposit insurance and risk-taking behavior in the credit union industry," Journal of Banking & Finance, Elsevier, vol. 23(1), pages 105-134, January.
    6. Williams, Jonathan, 2004. "Determining management behaviour in European banking," Journal of Banking & Finance, Elsevier, vol. 28(10), pages 2427-2460, October.
    7. Neil Murphy & Dan Salandro, 1997. "Form of ownership and risk taking in banking: Some evidence from Massachusetts savings banks," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 21(3), pages 19-28, September.
    8. Garci­a-Marco, Teresa & Robles-Fernández, M. Dolores, 2008. "Risk-taking behaviour and ownership in the banking industry: The Spanish evidence," Journal of Economics and Business, Elsevier, vol. 60(4), pages 332-354.
    9. Clark, Terry & McKee, Daryl, 1997. "Environmental management by marketing decision-makers in financial services," Journal of Business Research, Elsevier, vol. 38(2), pages 161-170, February.
    10. Catherine M. Schrand & Haluk Unal, 1995. "Hedging and Coordinated Risk Management: Evidence from Thrift Conversions," Center for Financial Institutions Working Papers 96-05, Wharton School Center for Financial Institutions, University of Pennsylvania.
    11. Martin Desrochers & Klaus P. Fischer, 2005. "The Power of Networks: Integration and Financial Cooperative Performance," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 76(3), pages 307-354, September.
    12. Adalgiso Amendola & Cristian Barra & Marinella Boccia & Anna Papaccio, 2021. "Market Structure and Financial Stability: the Interaction between Profit-Oriented and Mutual Cooperative Banks in Italy," Journal of Financial Services Research, Springer;Western Finance Association, vol. 60(2), pages 235-259, December.
    13. M. Cary Collins & Van Son Lai & James E. McNulty, 1997. "Thrifty Viability and Traditional Mortgage Lending: A Simultaneous Equations Analysis of the Risk-Return Trade-Off," Journal of Real Estate Research, American Real Estate Society, vol. 13(2), pages 155-176.
    14. Fraser, Donald R. & Zardkoohi, Asghar, 1996. "Ownership structure, deregulation, and risk in the savings and loan industry," Journal of Business Research, Elsevier, vol. 37(1), pages 63-69, September.
    15. James M. Sfiridis & Kenneth N. Daniels, 2004. "The Relative Cost Efficiency of Stock versus Mutual Thrifts: A Bayesian Approach," The Financial Review, Eastern Finance Association, vol. 39(1), pages 153-179, February.
    16. Bradford D. Jordan & James A. Verbrugge & Richard M. Burns, 1988. "Returns to Initial Shareholders in Savings Institution Conversions: Evidence and Regulatory Implications," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 11(2), pages 125-136, June.
    17. James H. Moore & Matthew S. Kraatz, 2011. "Governance Form and Organizational Adaptation: Lessons from the Savings and Loan Industry in the 1980s," Organization Science, INFORMS, vol. 22(4), pages 850-868, August.

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