The valuation effects of the 1977 Community Reinvestment Act and its enforcement
Article Abstract:
The passage of the Community Reinvestment Act (CRA) of 1977 has had considerable wealth effects for commercial banks and savings and loan associations (S&Ls). Substantially negative average excess returns for small New York Stock Exchange (NYSE)/American Stock Exchange (AMEX) banks and S&Ls to some events related to the enactment of the CRA have been noted. No wealth losses were observed for large NYSE/AMEX institutions or NASDAQ institutions, however. Individual CRA protests against institutions were also found to produce significantly negative excess returns which are not reversed even when the protest has been settled. Changes to the CRA are proposed as a result of these findings.
Publication Name: Journal of Banking & Finance
Subject: Business
ISSN: 0378-4266
Year: 1996
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Firm size and the information content of bank loan announcements
Article Abstract:
The effect of bank credit agreement announcements on the share prices of exchange listed and NASDAQ companies was investigated. The results showed that share price response varied and were dependent on the size of the firm as well as the information contained in the initial announcement. In the case of small firms, renewals and initiations of loans had a positive effect. However, such announcements were detrimental for larger companies.
Publication Name: Journal of Banking & Finance
Subject: Business
ISSN: 0378-4266
Year: 1992
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Governance mechanisms in Spanish banks. Does ownership matter?
Article Abstract:
The effective use of governance mechanism in Spanish banking sector and the method of conduct by governance mechanism on non-performing managers and directors in commercial and saving banks is presented.
Publication Name: Journal of Banking & Finance
Subject: Business
ISSN: 0378-4266
Year: 2004
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