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The market value impact of operational loss events for US banks and insurers

  • Cummins, J. David
  • Lewis, Christopher M.
  • Wei, Ran
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    File URL: http://www.sciencedirect.com/science/article/B6VCY-4JS1MW7-1/2/c8763ea409053ccc6c17e8b84ed37be7
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    Article provided by Elsevier in its journal Journal of Banking & Finance.

    Volume (Year): 30 (2006)
    Issue (Month): 10 (October)
    Pages: 2605-2634

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    Handle: RePEc:eee:jbfina:v:30:y:2006:i:10:p:2605-2634
    Contact details of provider: Web page: http://www.elsevier.com/locate/jbf

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    1. David F. Babbel & Anthony M. Santomero, 1997. "Risk Management by Insurers: An Analysis of the Process," Center for Financial Institutions Working Papers 96-16, Wharton School Center for Financial Institutions, University of Pennsylvania.
    2. Allen, Linda & Rai, Anoop, 1996. "Bank charter values and capital levels: An international comparison," Journal of Economics and Business, Elsevier, vol. 48(3), pages 269-284, August.
    3. Kenneth A. Froot & David S. Scharfstein & Jeremy C. Stein, 1992. "Risk Management: Coordinating Corporate Investment and Financing Policies," NBER Working Papers 4084, National Bureau of Economic Research, Inc.
    4. A. Craig MacKinlay, 1997. "Event Studies in Economics and Finance," Journal of Economic Literature, American Economic Association, vol. 35(1), pages 13-39, March.
    5. Bhagat, Sanjai & Brickley, James A. & Coles, Jeffrey L., 1994. "The costs of inefficient bargaining and financial distress *1: Evidence from corporate lawsuits," Journal of Financial Economics, Elsevier, vol. 35(2), pages 221-247, April.
    6. Merton, Robert C., 1977. "On the cost of deposit insurance when there are surveillance costs," Working papers 903-77., Massachusetts Institute of Technology (MIT), Sloan School of Management.
    7. Palmrose, Zoe-Vonna & Richardson, Vernon J. & Scholz, Susan, 2004. "Determinants of market reactions to restatement announcements," Journal of Accounting and Economics, Elsevier, vol. 37(1), pages 59-89, February.
    8. Arnold R. Cowan & Jann C. Howell & Mark L. Power, 2002. "Wealth Effects of Banks' Rights to Market and Originate Annuities," Finance 0203002, EconWPA.
    9. Jaffe, Jeffrey F, 1974. "Special Information and Insider Trading," The Journal of Business, University of Chicago Press, vol. 47(3), pages 410-28, July.
    10. Cummins, J David & Lewis, Christopher M, 2003. " Catastrophic Events, Parameter Uncertainty and the Breakdown of Implicit Long-Term Contracting: The Case of Terrorism Insurance," Journal of Risk and Uncertainty, Springer, vol. 26(2-3), pages 153-78, March-May.
    11. Robert C. Merton & André Perold, 1993. "Theory Of Risk Capital In Financial Firms," Journal of Applied Corporate Finance, Morgan Stanley, vol. 6(3), pages 16-32.
    12. Robert C. Merton, 1995. "A Functional Perspective of Financial Intermediation," Financial Management, Financial Management Association, vol. 24(2), Summer.
    13. 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.
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