Multibank Holding Companies and Bank Behavior

Public Disclosure, Risk, and Performance at Bank Holding Companies

This paper examines the relationship between the amount of information disclosed by bank holding companies (BHCs) and their subsequent risk profile and performance. Using data from the annual reports of BHCs with large trading operations, we construct an index of publicly disclosed information about the BHCs’ forward-looking estimates of market risk exposure in their trading and market-making a...

Full Disclosure: The SEC's Requirements Relating to Bank Holding Companies

Federal secur i t ies laws requ i re that investors in a pub l i c l y t r aded c o m p a n y be fu rn ished w i t h comp le te and t ime l y i n f o rma t i on a b o u t t he f i rm a n d its securi t ies. This ful l d isc losure c o n c e p t is cr i t ical to t he e f f i c iency of our capi ta l markets and t he p r o t e c t i o n of investors. Du r i ng t he 50 years s ince t he secur i t...

Is Corporate Governance Different for Bank Holding Companies?

n the wake of the recent corporate scandals, corporate governance practices have received heightened attention. Shareholders, creditors, regulators, and academics are examining the decision-making process in corporations and other organizations and are proposing changes in governance structures to enhance accountability and efficiency. To the extent that these proposals are based on academic re...

Do Bank Holding Companies I I Act as “ Sources of Strength ” for Their Bank Subsidiaries ?

HOSE WHO WISH to determine why banks fail typically focus on the characteristics of banks and their local markets that make them vulnerable to losses.1 A key factor often overlooked, however, is capital injections by shareholders. A bank whose losses exceed its capital need not fail, if its shareholders (existing or new) inject sufficient additional funds to restore its capital ratio to a level...

Equity Underwriting Spreads at Commercial Bank Holding Companies and Investment Banks