Thrift Conversions and Windfall Profits

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ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Thrift Conversions and Windfall Profits by : Daniel E. Page

Download or read book Thrift Conversions and Windfall Profits written by Daniel E. Page and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The thrift industry has been studied extensively in recent years due to the enormous costs to resolve failed thrifts during the late 1980s and early 1990s. Almost all of the studies have focused on the causes of these failures. Yet, an important but relatively neglected development that merits further study is the conversion of mutual institutions to the stock form of ownership. Such conversions raise questions regarding the appropriate price for the shares in initial offerings, particularly in view of reports that windfall profits have been realized by the initial investors in numerous cases and who should receive the shares. The purpose of this paper is to examine mutual thrifts that converted to stock ownership form during 1992 and 1993 to determine whether excess returns were indeed realized and, if so, to identify the determinants of those excess returns. The empirical results indicate the initial investors do indeed benefit from significantly positive abnormal returns during the first few days of trading after conversion. Additional empirical results indicate that both the pro-forma price-to-book ratio and the dollar amount of shares management intends to purchase are significant factors in explaining the variation in the abnormal returns.

Conversions of Mutual Savings Institutions

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ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Conversions of Mutual Savings Institutions by : Julie A.B. Cagle

Download or read book Conversions of Mutual Savings Institutions written by Julie A.B. Cagle and published by . This book was released on 1998 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine initial returns of fully underwritten IPOs of converting thrifts for evidence that managers and depositors of conversion-related offers earn significantly greater returns than investors in IPOs of other financial institutions. Regulators have suggested that new guidelines for conversion from a mutual to a stock thrift are designed to curb quot;windfall profitsquot; earned by insiders investing in conversion-related IPOs. While there are reports of average initial returns of more than 20% for conversion-related IPOs, our results suggest that investors earn average initial returns of about 7%, which is not significantly different than returns from IPOs of other thrifts and commercial banks.

Analyzing Claims to the Financial Benefits of Mutual Thrift Conversions

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ISBN 13 :
Total Pages : 9 pages
Book Rating : 4.:/5 (3 download)

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Book Synopsis Analyzing Claims to the Financial Benefits of Mutual Thrift Conversions by : United States. Congressional Budget Office

Download or read book Analyzing Claims to the Financial Benefits of Mutual Thrift Conversions written by United States. Congressional Budget Office and published by . This book was released on 1994 with total page 9 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Pricing IPOs of Mutual Thrift Conversions

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Publisher :
ISBN 13 :
Total Pages : 57 pages
Book Rating : 4.:/5 (492 download)

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Book Synopsis Pricing IPOs of Mutual Thrift Conversions by : Elijah Brewer

Download or read book Pricing IPOs of Mutual Thrift Conversions written by Elijah Brewer and published by . This book was released on 2001 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Ibss: Economics: 1999

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Publisher : Psychology Press
ISBN 13 : 9780415240093
Total Pages : 660 pages
Book Rating : 4.2/5 (4 download)

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Book Synopsis Ibss: Economics: 1999 by : Compiled by the British Library of Political and Economic Science

Download or read book Ibss: Economics: 1999 written by Compiled by the British Library of Political and Economic Science and published by Psychology Press. This book was released on 2000-12-07 with total page 660 pages. Available in PDF, EPUB and Kindle. Book excerpt: IBSS is the essential tool for librarians, university departments, research institutions and any public or private institution whose work requires access to up-to-date and comprehensive knowledge of the social sciences

Regulation Q and Related Measures

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Publisher :
ISBN 13 :
Total Pages : 1026 pages
Book Rating : 4.3/5 (121 download)

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Book Synopsis Regulation Q and Related Measures by : United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Financial Institutions Supervision, Regulation and Insurance

Download or read book Regulation Q and Related Measures written by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Financial Institutions Supervision, Regulation and Insurance and published by . This book was released on 1980 with total page 1026 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Journal Econonmics and Business

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Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4./5 ( download)

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Book Synopsis Journal Econonmics and Business by :

Download or read book Journal Econonmics and Business written by and published by . This book was released on 1997 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Current Legal Issues Affecting Central Banks, Volume IV.

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Publisher : International Monetary Fund
ISBN 13 : 9781557755032
Total Pages : 1042 pages
Book Rating : 4.7/5 (55 download)

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Book Synopsis Current Legal Issues Affecting Central Banks, Volume IV. by : Mr.Robert C. Effros

Download or read book Current Legal Issues Affecting Central Banks, Volume IV. written by Mr.Robert C. Effros and published by International Monetary Fund. This book was released on 1997-04-03 with total page 1042 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume, edited by Robert C. Effros, surveys developments at international financial institutions, regional developments affecting central banks, the progress of the European Union countries toward monetary union and a unified banking market, the effect of the General Agreement on Tariffs and Trade and the World Trade Organization on banking services, and the implications of the North American Free Trade Agreement for central banks. Other topics discussed include banking regulation and reform in the United States, the United Kingdom, Canada, countries of the former Soviet Union, and China; banking supervision; the role of deposit insurance; bankruptcy policy; derivatives; securitization; payments systems; securities transfers; and capital standards for market risk. Appendices reproduce relevant legal documentation.

Mutual-to-stock Conversions--S. 1801

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ISBN 13 :
Total Pages : 120 pages
Book Rating : 4.0/5 ( download)

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Book Synopsis Mutual-to-stock Conversions--S. 1801 by : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs

Download or read book Mutual-to-stock Conversions--S. 1801 written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 1994 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Moratorium on Conversions of Savings and Loan Associations and Mutual Savings Banks

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Publisher :
ISBN 13 :
Total Pages : 204 pages
Book Rating : 4.:/5 (327 download)

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Book Synopsis Moratorium on Conversions of Savings and Loan Associations and Mutual Savings Banks by : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Financial Institutions

Download or read book Moratorium on Conversions of Savings and Loan Associations and Mutual Savings Banks written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Financial Institutions and published by . This book was released on 1976 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt:

BNA's Banking Report

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Publisher :
ISBN 13 :
Total Pages : 1188 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis BNA's Banking Report by :

Download or read book BNA's Banking Report written by and published by . This book was released on 1994 with total page 1188 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Zen of Thrift Conversions

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Publisher :
ISBN 13 :
Total Pages : 284 pages
Book Rating : 4.6/5 (757 download)

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Book Synopsis The Zen of Thrift Conversions by : James F Royal, PH D

Download or read book The Zen of Thrift Conversions written by James F Royal, PH D and published by . This book was released on 2020-10 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Though no one speaks about them, thrift conversions have been tremendously lucrative for savvy investors." If you dream of digging up hidden treasure in the stock market, you'll want to read this book. You're about to discover a niche that portfolio managers and top investment experts can't touch - even if they knew about it! It's an area you have a huge advantage on Wall Street. It's a place where the potential returns are high and the risks are low, and most of the stocks are acquired at a substantial premium. Here's your guide to these secret stocks: - Discover how to systematically uncover these hidden gems- Invest even before they go public- Find banks so cheap they're worth more dead than alive- Analyze how to buy them and what to look for - even let pro analysts value them for you- Get expert insight from investors who dominate this niche- Supercharge your returns by getting these top professionals to work for you - for free!This book provides step-by-step guidance for investors and offers case studies of current and past stocks. You'll have the tools to find attractive risk-adjusted returns in small banks. James F. Royal, Ph.D., got hooked on special situation investments after he discovered that the stock market sometimes gives away companies for free and occasionally even pays you to take them. He worked at The Motley Fool as an analyst managing a portfolio of spinoffs and thrift conversions. He has been investing in stocks for over 20 years and has a doctorate from the University of Florida.

Office of Thrift Supervision Journal

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Publisher :
ISBN 13 :
Total Pages : 1028 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Office of Thrift Supervision Journal by :

Download or read book Office of Thrift Supervision Journal written by and published by . This book was released on 1982 with total page 1028 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Financial Institutions Act of 1975, Hearings Before the Subcommittee on Financial Intstitutions of ..., 94-1 on S. 1267 ... S. 1475 ... S. 1540 ..., May 14 ... June 11, 1975

Download Financial Institutions Act of 1975, Hearings Before the Subcommittee on Financial Intstitutions of ..., 94-1 on S. 1267 ... S. 1475 ... S. 1540 ..., May 14 ... June 11, 1975 PDF Online Free

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ISBN 13 :
Total Pages : 1080 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Financial Institutions Act of 1975, Hearings Before the Subcommittee on Financial Intstitutions of ..., 94-1 on S. 1267 ... S. 1475 ... S. 1540 ..., May 14 ... June 11, 1975 by : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs

Download or read book Financial Institutions Act of 1975, Hearings Before the Subcommittee on Financial Intstitutions of ..., 94-1 on S. 1267 ... S. 1475 ... S. 1540 ..., May 14 ... June 11, 1975 written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 1975 with total page 1080 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Conversion of Savings and Loan Associations from Mutual to Stock Form

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Publisher :
ISBN 13 :
Total Pages : 528 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Conversion of Savings and Loan Associations from Mutual to Stock Form by : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Financial Institutions

Download or read book Conversion of Savings and Loan Associations from Mutual to Stock Form written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Financial Institutions and published by . This book was released on 1974 with total page 528 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Securities Regulation of Thrifts

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ISBN 13 :
Total Pages : 714 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Securities Regulation of Thrifts by :

Download or read book Securities Regulation of Thrifts written by and published by . This book was released on 1989 with total page 714 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Conversion of Savings and Loan Associations from Mutual to Stock Form, Hearings Before the Subcommittee on Financial Institutions of ...,93-2 OnS.3132 ...,S.3224 ..., April 8, 9, and 10. 1974

Download Conversion of Savings and Loan Associations from Mutual to Stock Form, Hearings Before the Subcommittee on Financial Institutions of ...,93-2 OnS.3132 ...,S.3224 ..., April 8, 9, and 10. 1974 PDF Online Free

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Publisher :
ISBN 13 :
Total Pages : 538 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Conversion of Savings and Loan Associations from Mutual to Stock Form, Hearings Before the Subcommittee on Financial Institutions of ...,93-2 OnS.3132 ...,S.3224 ..., April 8, 9, and 10. 1974 by : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs

Download or read book Conversion of Savings and Loan Associations from Mutual to Stock Form, Hearings Before the Subcommittee on Financial Institutions of ...,93-2 OnS.3132 ...,S.3224 ..., April 8, 9, and 10. 1974 written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 1974 with total page 538 pages. Available in PDF, EPUB and Kindle. Book excerpt: