The Thrift Industry and the Community Reinvestment Act: Assessing the Cost of Social Responsibility
نویسندگان
چکیده
a stochastic frontier cost function indicates that the annual cost of complying with the anti-redlining Community Reinvestment Act (CRA) is $171,000 per thrift institution, roughly 2.3 percent of variable costs. But compliance cost is significantly less than the estimated 21 percent cost inefficiency. Based on published estimates of the incremental number of mortgage loans induced by CRA, the marginal cost is $38,000 per loan. The regulations whose compliance cost is estimated apply to about 80 percent of all U.S. banks. JEL Codes: G28 (Government Policy and Regulation); G21 (Banks); M14 (Social Responsibility). † corresponding author: [email protected]
منابع مشابه
The Role of Managers Ownership in the Relationship between the Disclosure of Corporate Ethical & Social Responsibility & Cost of Equity
Background: Accurate and timely disclosure of information is one of the most important tools for company managers to reduce the cost of capital. The purpose of this study is to investigate the role of managerschr('39') ownership in the relationship between the disclosure of corporate social and moral responsibility and the cost of equity in companies listed on the Tehran stock exchange. Method...
متن کاملThe Responsibility of the Academic System to the Community: Designing a Model to Assess Its Current and Desirable Status
The purpose of this study was to design a model for assessing the social responsibility of the academic system.The research method was mixed exploration method. In qualitative part, 10 academic experts were selected for confirmation of qualitative research findings and in quantitative part, 259 faculty members were selected by stratified random sampling. In the first step, by reviewing the lite...
متن کاملThe relationship between management style and social responsibility at Tehran hospitals
Introduction: Nowadays, the success of a hospital administration is not only subject to taking care of hospital internal processes but also identifying the hospital concerns about external processes that is, the social responsibility of hospitals. It seems one of the factors influencing the acceptance of social responsibility is the management style. This study is going to investigate the relat...
متن کاملThe Ranking of Corporate Social Responsibility by Using of DEA Cross Efficiency
Social responsibility provides a framework for ethical monitoring on the business enterprises activities whereby business enterprises must responsible to society and environment. This study based on financial variables and using the data envelopment analysis technique, ranks automotive companies in terms of social responsibility. Data and theoretical frameworks of the research are based on libr...
متن کاملThe efectiveness of an integrated approach of Acceptance and Commitment Therapy (ACT) and Olson's preparation approach on marriage expectation and responsibility among unmarried girls
Increasing the age of marriage may cause major damages to unmarried young people, especially girls, their families and the society . Economic, social, and cultural factors have changed the marriage pattern in societies. The aim of the present study was to investigate the effectiveness of an integrated approach of Acceptance Commitment Therapy(ACT) and Olson's preparation approach in enhancing...
متن کامل