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Whats Happened At Divested Bank Offices
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Book Synopsis What's Happened at Divested Bank Offices? An Empirical Analysis of Antitrust Divestitures in Bank Mergers by : Steven J. Pilloff
Download or read book What's Happened at Divested Bank Offices? An Empirical Analysis of Antitrust Divestitures in Bank Mergers written by Steven J. Pilloff and published by . This book was released on 2002 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: In their competitive analysis of proposed bank mergers, the Federal Reserve Board, Department of Justice, and other agencies accept branch divestitures as an antitrust remedy in local markets where there is substantial overlap between the acquirer and target. The results of this study, which examines the performance of 751 branches that were divested between June 1989 and June 1998 in conjunction with a merger that raised possible competition issues, suggest that the policy of accepting branch divestitures as an antitrust remedy has been successful. Divested branches operate for lengths of time that are comparable to all branches, and even though they experience substantial deposit runoff around the time of the merger, divested branches subsequently exhibit deposit growth rates that are comparable to those of other similar branches. Cross-sectional analysis does not find any significant relationships between either deposit runoff or subsequent growth and various characteristics of the branch being sold or the firm that purchased it, except for some evidence that post-divestiture growth may increase with the size of the purchaser.
Book Synopsis What's Happened at Divested Bank Offices? An Analysis of Antitrust Divestitures in Bank Mergers in the U.S. by : Steven J. Pilloff
Download or read book What's Happened at Divested Bank Offices? An Analysis of Antitrust Divestitures in Bank Mergers in the U.S. written by Steven J. Pilloff and published by . This book was released on 2016 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: In their competitive analysis of proposed bank mergers, the Board of Governors of the Federal Reserve System, the U.S. Department of Justice, and other U.S. banking agencies accept branch divestitures as an antitrust remedy in local markets where there is substantial overlap between the acquirer and target. The results of this study, which examines the performance of 751 branches that were divested between June 1989 and June 1999 in conjunction with a merger in the U.S. that raised possible competition issues, are consistent with the policy of accepting branch divestitures as an antitrust remedy being successful. Divested branches operate for lengths of time that are comparable to all branches, and even though they experience substantial deposit runoff around the time of the merger, divested branches subsequently exhibit deposit growth rates that are comparable to those of other similar branches.
Book Synopsis What's Happened at Divested Bank Offices? by : Steven J. Pilloff
Download or read book What's Happened at Divested Bank Offices? written by Steven J. Pilloff and published by . This book was released on 2002 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Industry and Firm Studies by : Victor J. Tremblay
Download or read book Industry and Firm Studies written by Victor J. Tremblay and published by Routledge. This book was released on 2015-03-26 with total page 530 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fourth edition of this acclaimed text is a rich resource for undergraduate and graduate courses in industrial organization, applied game theory, and management strategy. It incorporates game theory into industry analysis by studying the behavior of successful and failing firms as well as the structure-conduct-performance of particular industries. Chapters address a wide variety of issues concerning industry structure, policy towards business, and the strategic innovations and blunders of individual firms. New coverage of professional sports, soft drinks, distilled spirits, and cigarettes complements revised and updated chapters on airline services, retail and commercial banking, health insurance, motion pictures, and brewing. The book includes firm case studies of General Motors, Microsoft, Schlitz, and TiVo.
Book Synopsis Prices, Production, and Inventories Over the Automotive Model Year by : Adam Copeland
Download or read book Prices, Production, and Inventories Over the Automotive Model Year written by Adam Copeland and published by . This book was released on 2005 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper studies the within-model-year pricing and production of new automobiles. Using new monthly data on U.S. transaction prices, we document that for the typical new vehicle, prices typically fall over the model year at a 9.2 percent annual rate. Concurrently, both sales and inventories are hump shaped. To explain these time series, we formulate a market equilibrium model for new automobiles in which inventory and pricing decisions are made simultaneously. On the demand side, we use micro-level data to estimate time-varying aggregate demand curves for each vehicle. On the supply side, we solve a dynamic programming model of an automaker that, while able to produce only one vintage of a product at a time, may accumulate inventories and consequently sell multiple vintages of the same product simultaneously. The profit maximizing pricing and production strategies under a build-to-stock inventory policy imply declining prices and hump-shaped sales and inventories of the magnitudes observed in the data. Further, roughly half of the price decline is driven by inventory control considerations, as opposed to decreasing demand"--Abstract.
Book Synopsis Volatility Puzzles by : Tim Bollerslev
Download or read book Volatility Puzzles written by Tim Bollerslev and published by . This book was released on 2003 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Long-run Relationship Between House Prices and Rents by : Joshua Hojvat Gallin
Download or read book The Long-run Relationship Between House Prices and Rents written by Joshua Hojvat Gallin and published by . This book was released on 2004 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: "I show that when house prices are high relative to rents (that is, when the rent-price ratio is low) changes in real rents tend to be larger than usual and changes in real prices tend to be smaller than usual. Standard error-correction models provide inconclusive results about the predictive power of the rent-price ratio at a quarterly frequency. I use a long-horizon regression approach to show that the rent-price ratio helps predict changes in real rents and real prices over three-year periods. This result withstands the inclusion of a measure of the user cost of capital. I show that a long-horizon regression approach can yield biased estimates of the degree of error correction if prices have a unit root but do not follow a random walk. I construct bootstrap distributions to conduct appropriate inference in the presence of this bias. The results lend empirical support to the view that the rent-price ratio is an indicator of valuation in the housing market"--Abstract.
Book Synopsis Gestation Lags and the Relationship Between Investment and Q in Regressions by : Jonathan N. Millar
Download or read book Gestation Lags and the Relationship Between Investment and Q in Regressions written by Jonathan N. Millar and published by . This book was released on 2005 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Debt Maturity, Risk, and Asymmetric Information by :
Download or read book Debt Maturity, Risk, and Asymmetric Information written by and published by . This book was released on 2004 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: "We test the implications of Flannery's (1986) and Diamond's (1991) models concerning the effects of risk and asymmetric information in determining debt maturity, and we examine the overall importance of informational asymmetries in debt maturity choices. We employ data on over 6,000 commercial loans from 53 large U.S. banks. Our results for low-risk firms are consistent with the predictions of both theoretical models, but our findings for high-risk firms conflict with the predictions of Diamond's model and with much of the empirical literature. Our findings also suggest a strong quantitative role for asymmetric information in explaining debt maturity"--Abstract.
Book Synopsis Why and when Do Spot Prices of Crude Oil Revert to Futures Price Levels? by : Mark W. French
Download or read book Why and when Do Spot Prices of Crude Oil Revert to Futures Price Levels? written by Mark W. French and published by . This book was released on 2005 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent studies of crude oil price formation emphasize the role of interest rates and convenience yield (the adjusted spot-futures spread), confirming that spot prices mean-revert and normally exceed discounted futures. However, these studies don't explain why such "backwardation" is normal. Also, models derived in these studies typically explain only about 1 percent of daily returns, suggesting other factors are important, too.
Book Synopsis A Review of Backtesting and Backtesting Procedures by : Sean D. Campbell
Download or read book A Review of Backtesting and Backtesting Procedures written by Sean D. Campbell and published by . This book was released on 2005 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The GSE Implicit Subsidy and Value of Government Ambiguity by : Wayne Passmore
Download or read book The GSE Implicit Subsidy and Value of Government Ambiguity written by Wayne Passmore and published by . This book was released on 2003 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Expectation Traps in a New Keynesian Open Economy Model by : David M. Arseneau
Download or read book Expectation Traps in a New Keynesian Open Economy Model written by David M. Arseneau and published by . This book was released on 2004 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper illustrates that the introduction of a money demand distortion into an otherwise standard New Keynesian Open Economy model generates multiple discretionary equilibria. These equilibria arise in the form of expectations traps whereby the monetary authority is trapped into validating expectations of the private sector because failing to do so is costly. One implication of the model is that provided initial inflation expectations are sufficiently anchored the global Friedman rule emerges as an equilibrium under discretion. It is therefore a time-consistent outcome and hence fully sustainable even in absence of a commitment device or reputational considerations"--Abstract.
Book Synopsis Calculating and Using Second Order Accurate Solutions of Discrete Time Dynamic Equilibrium Models by :
Download or read book Calculating and Using Second Order Accurate Solutions of Discrete Time Dynamic Equilibrium Models written by and published by . This book was released on 2003 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Do Liquidity Constraints Matter for New Entrepreneurs? by : Kevin Moore
Download or read book Do Liquidity Constraints Matter for New Entrepreneurs? written by Kevin Moore and published by . This book was released on 2004 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Numerous studies have found a positive relationship between wealth and entering entrepreneurship, and interpret this as evidence of the existence of liquidity constraints. However, recent research has shown that the relationship between wealth and entering entrepreneurship may be non-linear and only significant for high-wealth households; this result cannot be interpreted as evidence of liquidity constraints. Using data from the SCF, we construct a proxy for wealth based on the household's home equity wealth at the time of the entrepreneurial decision. The results provide further evidence that the relationship between wealth and entering entrepreneurship is only significant for high-wealth households and that liquidity constraints do not appear to bind for the majority of new entrepreneurs. Possible explanations for the relationship between wealth and becoming an entrepreneur include lower risk aversion and differences in the types of businesses started by high-wealth households"--Federal Reserve Board web site.
Book Synopsis A New Approach to the Valuation of Intangible Capital by : Jason G. Cummins
Download or read book A New Approach to the Valuation of Intangible Capital written by Jason G. Cummins and published by . This book was released on 2004 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Estimating the Worldwide Volume of Counterfeit U.S. Currency by : Ruth A. Judson
Download or read book Estimating the Worldwide Volume of Counterfeit U.S. Currency written by Ruth A. Judson and published by . This book was released on 2003 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
