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Manager wealth concentration, ownership structure, and risk in commercial banks

  • Sullivan, Richard J.
  • Spong, Kenneth R.

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File URL: http://www.sciencedirect.com/science/article/B6WJD-4MNYYXM-1/2/680301c7bea90a774a5208d4bd03ef53
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Article provided by Elsevier in its journal Journal of Financial Intermediation.

Volume (Year): 16 (2007)
Issue (Month): 2 (April)
Pages: 229-248

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Handle: RePEc:eee:jfinin:v:16:y:2007:i:2:p:229-248
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622875

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  1. Yakov Amihud & Baruch Lev, 1981. "Risk Reduction as a Managerial Motive for Conglomerate Mergers," Bell Journal of Economics, The RAND Corporation, vol. 12(2), pages 605-617, Autumn.
  2. Rivard, Richard J. & Thomas, Christopher R., 1997. "The effect of interstate banking on large bank holding company profitability and risk," Journal of Economics and Business, Elsevier, vol. 49(1), pages 61-76, February.
  3. Robert Parrino & Allen M. Poteshman & Michael S. Weisbach, 2002. "Measuring Investment Distortions when Risk-Averse Managers Decide Whether to Undertake Risky Projects," NBER Working Papers 8763, National Bureau of Economic Research, Inc.
  4. Demsetz, Rebecca S & Strahan, Philip E, 1997. "Diversification, Size, and Risk at Bank Holding Companies," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 29(3), pages 300-313, August.
  5. Donald P. Morgan, 2002. "Rating Banks: Risk and Uncertainty in an Opaque Industry," American Economic Review, American Economic Association, vol. 92(4), pages 874-888, September.
  6. Gary Gorton & Richard Rosen, . "Corporate Control, Portfolio Choice, and the Decline of Banking," Rodney L. White Center for Financial Research Working Papers 2-93, Wharton School Rodney L. White Center for Financial Research.
  7. A. Sinan Cebenoyan & Elizabeth S. Cooperman & Charles A. Register, 1999. "Ownership Structure, Charter Value, and Risk-Taking Behavior for Thrifts," Financial Management, Financial Management Association, vol. 28(1), Spring.
  8. Knopf, John D. & Teall, John L., 1996. "Risk-taking behavior in the U.S. thrift industry: Ownership structure and regulatory changes," Journal of Banking & Finance, Elsevier, vol. 20(8), pages 1329-1350, September.
  9. Fama, Eugene F, 1980. "Agency Problems and the Theory of the Firm," Journal of Political Economy, University of Chicago Press, vol. 88(2), pages 288-307, April.
  10. Liang, Nellie, 1989. "Bank profits, risk, and local market concentration," Journal of Economics and Business, Elsevier, vol. 41(4), pages 297-305, November.
  11. Rebecca S. Demsetz & Marc R. Saidenberg & Philip E. Strahan, 1996. "Banks with something to lose: the disciplinary role of franchise value," Economic Policy Review, Federal Reserve Bank of New York, issue Oct, pages 1-14.
  12. Forest Myers & Kenneth Spong, 2003. "Community bank performance in slower growing markets : finding sound strategies for success," Financial Industry Perspectives, Federal Reserve Bank of Kansas City, issue Oct, pages 15-30.
  13. Smith, Clifford W. & Stulz, René M., 1985. "The Determinants of Firms' Hedging Policies," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 20(04), pages 391-405, December.
  14. Anderson, Ronald C. & Fraser, Donald R., 2000. "Corporate control, bank risk taking, and the health of the banking industry," Journal of Banking & Finance, Elsevier, vol. 24(8), pages 1383-1398, August.
  15. Rebecca S. Demsetz & Marc R. Saidenberg & Philip E. Strahan, 1997. "Agency problems and risk taking at banks," Research Paper 9709, Federal Reserve Bank of New York.
  16. Pennacchi, George, 2006. "Deposit insurance, bank regulation, and financial system risks," Journal of Monetary Economics, Elsevier, vol. 53(1), pages 1-30, January.
  17. White, Halbert, 1980. "A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity," Econometrica, Econometric Society, vol. 48(4), pages 817-38, May.
  18. Saunders, Anthony & Strock, Elizabeth & Travlos, Nickolaos G, 1990. " Ownership Structure, Deregulation, and Bank Risk Taking," Journal of Finance, American Finance Association, vol. 45(2), pages 643-54, June.
  19. Bagnani, Elizabeth Strock, et al, 1994. " Managers, Owners, and the Pricing of Risky Debt: An Empirical Analysis," Journal of Finance, American Finance Association, vol. 49(2), pages 453-77, June.
  20. Keeley, Michael C, 1990. "Deposit Insurance, Risk, and Market Power in Banking," American Economic Review, American Economic Association, vol. 80(5), pages 1183-1200, December.
  21. Stephen D. Prowse, 1995. "Alternative methods of corporate control in commercial banks," Economic and Financial Policy Review, Federal Reserve Bank of Dallas, issue Q III, pages 24-36.
  22. Carl R. Chen & Thomas L. Steiner & Ann Marie Whyte, 1998. "Risk-Taking Behavior And Management Ownership In Depository Institutions," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 21(1), pages 1-16, 03.
  23. May, Don O, 1995. " Do Managerial Motives Influence Firm Risk Reduction Strategies?," Journal of Finance, American Finance Association, vol. 50(4), pages 1291-1308, September.
  24. DeYoung, Robert & Spong, Kenneth & Sullivan, Richard J., 2001. "Who's minding the store? Motivating and monitoring hired managers at small, closely held commercial banks," Journal of Banking & Finance, Elsevier, vol. 25(7), pages 1209-1243, July.
  25. Demsetz, Harold & Lehn, Kenneth, 1985. "The Structure of Corporate Ownership: Causes and Consequences," Journal of Political Economy, University of Chicago Press, vol. 93(6), pages 1155-77, December.
  26. Rebecca S. Demsetz & Marc R. Saidenberg & Philip E. Strahan, 1997. "Agency problems and risk taking at banks," Staff Reports 29, Federal Reserve Bank of New York.
  27. William Emmons & R. Gilbert & Timothy Yeager, 2004. "Reducing the Risk at Small Community Banks: Is it Size or Geographic Diversification that Matters?," Journal of Financial Services Research, Springer, vol. 25(2), pages 259-281, April.
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