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FSLIC forbearances to stockholders and the value of savings and loan shares


  • James B. Thomson


An investigation of the value of FSLIC forbearances to the stockholders of insolvent stock-chartered thrift institutions, concluding that these forbearances increase the stock-market value of thrift institutions.

Suggested Citation

  • James B. Thomson, 1987. "FSLIC forbearances to stockholders and the value of savings and loan shares," Economic Review, Federal Reserve Bank of Cleveland, issue Q III, pages 26-35.
  • Handle: RePEc:fip:fedcer:y:1987:i:qiii:p:26-35

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    References listed on IDEAS

    1. 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 881-892, July.
    2. Dimson, Elroy, 1979. "Risk measurement when shares are subject to infrequent trading," Journal of Financial Economics, Elsevier, vol. 7(2), pages 197-226, June.
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    Cited by:

    1. William P. Osterberg & James B. Thomson, 1990. "The effect of subordinated debt and surety bonds on banks' cost of capital and on the value of federal deposit insurance," Working Paper 9012, Federal Reserve Bank of Cleveland.
    2. Ramon P. DeGennaro & James B. Thomson, 1992. "Capital forbearance and thrifts: an ex post examination of regulatory gambling," Working Paper 9209, Federal Reserve Bank of Cleveland.
    3. François Marini, 2003. "Bank Insolvency, Deposit Insurance, and Capital Adequacy," Journal of Financial Services Research, Springer;Western Finance Association, vol. 24(1), pages 67-78, August.
    4. William P. Osterberg & James B. Thomson, 1992. "Forbearance, subordinated debt, and the cost of capital for insured depository institutions," Economic Review, Federal Reserve Bank of Cleveland, issue Q III, pages 16-26.
    5. DeGennaro, Ramon P. & Thomson, James B., 1995. "Anticipating bailouts: The incentive-conflict model and the collapse of the Ohio deposit guarantee fund," Journal of Banking & Finance, Elsevier, vol. 19(8), pages 1401-1418, November.
    6. Asli Demirgüç-Kunt, 1991. "On the valuation of deposit institutions," Working Paper 9104, Federal Reserve Bank of Cleveland.
    7. Ramon P. DeGennaro & Larry H. Lang & James B. Thomson, 1991. "Troubled savings and loan institutions: voluntary restructuring under insolvency," Working Paper 9112, Federal Reserve Bank of Cleveland.

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