An important issue in the debate over whether bank holding companies (BHCs) should be
permitted to enter nonbanking activities is the effect of expanded nonbanking powers on …

This paper examines the risk structure of bank holding companies and the effect of mutual
fund activities on bank risk and profitability over the period 1987–1994. Findings from …

We create synthetic universal banks to examine the impact of securities and insurance
activities on the banking firms' risk. We find that these nonbank activities reduce the overall …

Of key importance in the governance structure of firms is the role of financial incentives for
each major player. The main contribution of this article is an analysis of how an insider's …

We analyze the implications of European bank consolidation on the default risk of acquiring
banks. For a sample of 134 bidding banks, we employ the Merton distance to default model …

This paper assesses the potential diversification benefits of the increasing reliance on
nontraditional business activities based on data from the Chinese banking industry in 1986 …

This study examines the effect of activity diversification on bank holding company risk. Banks
increasingly are branching into financial services such as security underwriting and …

Australian credit unions (CUs) have introduced new fee generating activities, increased
transaction fees on existing products, and diversified into residential mortgages. Using …

We provide evidence on the potential for bidder wealth gains in bancassurance mergers by
examining a sample of such mergers in the United States and abroad. These combinations …

The turbulence in financial markets since mid-2007 continues to reshape the industry and
raises fundamental questions about how large, complex financial firms operate. Greater …