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Product Mix and Earnings Volatility at Commercial Banks: Evidence from a Degree of Total Leverage Model

  • DeYoung, Robert
  • Roland, Karin P.
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    File URL: http://www.sciencedirect.com/science/article/pii/S1042-9573(00)90305-X
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    Article provided by Elsevier in its journal Journal of Financial Intermediation.

    Volume (Year): 10 (2001)
    Issue (Month): 1 (January)
    Pages: 54-84

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    Handle: RePEc:eee:jfinin:v:10:y:2001:i:1:p:54-84
    Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622875

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    1. Robert DeYoung & Karin P. Roland, 1999. "Product mix and earnings volatility at commercial banks: evidence from a degree of leverage model," Working Paper Series WP-99-6, Federal Reserve Bank of Chicago.
    2. Franklin R. Edwards & Frederic S. Mishkin, 1995. "The Decline of Traditional Banking: Implications for Financial Stabilityand Regulatory Policy," NBER Working Papers 4993, National Bureau of Economic Research, Inc.
    3. Rebecca S. Demsetz & Philip E. Strahan, 1995. "Diversification, size, and risk at bank holding companies," Research Paper 9506, Federal Reserve Bank of New York.
    4. Robert H. Litzenberger & Cherukuri U. Rao, 1971. "Estimates of the Marginal Rate of Time Preference and Average Risk Aversion of Investors in Electric Utility Shares: 1960-66," Bell Journal of Economics, The RAND Corporation, vol. 2(1), pages 265-277, Spring.
    5. Boyd, John H. & Graham, Stanley L. & Hewitt, R. Shawn, 1993. "Bank holding company mergers with nonbank financial firms: Effects on the risk of failure," Journal of Banking & Finance, Elsevier, vol. 17(1), pages 43-63, February.
    6. Robert DeYoung & Karin P. Roland, 1999. "Product mix and earnings volatility at commercial banks: evidence from a degree of leverage model," Proceedings 616, Federal Reserve Bank of Chicago.
    7. Eisenbeis, Robert A & Harris, Robert S & Lakonishok, Josef, 1984. " Benefits of Bank Diversification: The Evidence from Shareholder Returns," Journal of Finance, American Finance Association, vol. 39(3), pages 881-92, July.
    8. Gallo, John G. & Apilado, Vincent P. & Kolari, James W., 1996. "Commercial bank mutual fund activities: Implications for bank risk and profitability," Journal of Banking & Finance, Elsevier, vol. 20(10), pages 1775-1791, December.
    9. George G. Kaufman & Larry R. Mote, 1994. "Is banking a declining industry? A historical perspective," Economic Perspectives, Federal Reserve Bank of Chicago, issue May, pages 2-21.
    10. Mandelker, Gershon N. & Rhee, S. Ghon, 1984. "The Impact of the Degrees of Operating and Financial Leverage on Systematic Risk of Common Stock," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 19(01), pages 45-57, March.
    11. Rebecca Demsetz & Philip E. Strahan, 1995. "Size and the nature of risk at publicly-traded bank holding companies," Proceedings 471, Federal Reserve Bank of Chicago.
    12. Allen N. Berger & David B. Humphrey, 1992. "Measurement and Efficiency Issues in Commercial Banking," NBER Chapters, in: Output Measurement in the Service Sectors, pages 245-300 National Bureau of Economic Research, Inc.
    13. John H. Boyd & Mark Gertler, 1995. "Are Banks Dead? Or Are the Reports Greatly Exaggerated?," NBER Working Papers 5045, National Bureau of Economic Research, Inc.
    14. Kwast, Myron L., 1989. "The impact of underwriting and dealing on bank returns and risks," Journal of Banking & Finance, Elsevier, vol. 13(1), pages 101-125, March.
    15. David B. Humphrey, 1990. "Why do estimates of bank scale economies differ?," Economic Review, Federal Reserve Bank of Richmond, issue Sep, pages 38-50.
    16. John H. Boyd & Stanley L. Graham, 1986. "Risk, regulation, and bank holding company expansion into nonbanking," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Spr, pages 2-17.
    17. Larry D. Wall & Alan K. Reichert & Sunil Mohanty, 1993. "Deregulation and the opportunities for commercial bank diversification," Economic Review, Federal Reserve Bank of Atlanta, issue Sep, pages 1-25.
    18. Allen N. Berger & Anil K. Kashyap & Joseph Scalise, 1995. "The Transformation of the U.S. Banking Industry: What a Long, Strange Trip It's Been," Center for Financial Institutions Working Papers 96-06, Wharton School Center for Financial Institutions, University of Pennsylvania.
    19. Ahmed, Anwer S. & Takeda, Carolyn & Thomas, Shawn, 1999. "Bank loan loss provisions: a reexamination of capital management, earnings management and signaling effects," Journal of Accounting and Economics, Elsevier, vol. 28(1), pages 1-25, November.
    20. Lord, Richard A, 1998. "Properties of Time-Series Estimates of Degree of Leverage Measures," The Financial Review, Eastern Finance Association, vol. 33(2), pages 69-83, May.
    21. Raj Aggarwal & Kevin T. Jacques & Tara Rice, 2000. "The relationship between bank off-balance-sheet activities and credit risk under risk-based capital: a simultaneous equations approach," Proceedings 698, Federal Reserve Bank of Chicago.
    22. Simon H. Kwan, 1998. "Securities activities by commercial banking firms' section 20 subsidiaries: risk, return, and diversification benefits," Proceedings 609, Federal Reserve Bank of Chicago.
    23. Rodney N. Johnson & David R. Meinster, 1974. "Bank Holding Companies: Diversification Opportunities in Nonbank Activities," Eastern Economic Journal, Eastern Economic Association, vol. 1(4), pages 316-323, October.
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