On the Riskiness of Universal Banking: Evidence from Banks in the Investment Banking Business Pre- and Post-GLBA

We explore whether an economically significant differential exists in market-based risk measures between universal banks and traditional banks. Using a three-asset portfolio regression model, we find that between 1990 and 2007—a period of gradual deregulation culminating in passage of the Gramm—Leac...

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Bibliographic details
Volume: 41
Main Author: GEYFMAN, VICTORIA
YEAGER, TIMOTHY J
Format: Journal Article
Language: English
Zielgruppe: Academic
Place of publication: Malden, USA Blackwell Publishing Inc 01.12.2009
Wiley Periodicals Incorporated
WILEY
Wiley Periodicals, Inc
John Wiley & Sons, Inc
published in: Journal of money, credit and banking Vol. 41; no. 8; pp. 1649 - 1669
Edition: Received January 26, 2006; and accepted in revised form June 18, 2009.
Data of publication: 2009-12
ISSN: 0022-2879
1538-4616
EISSN: 1538-4616
Classification Codes:


Discipline: Economics
Business
Bibliography: This paper is an extension of “Banks in the Securities Business: Market‐Based Implications of Section 20 Subsidiaries,” Federal Reserve Bank of Philadelphia Working Paper No. 05‐26. Victoria Geyfman thanks Elyas Elyasiani, Loretta Mester, Mitchell Berlin, Leonard Nakamura, Robert Hunt, seminar participants at the Federal Reserve Bank of Philadelphia, the University of Arkansas, and participants of Mid‐Atlantic Research Conference in Finance at Villanova University for helpful comments and discussions.
Subjects:
G21
G24
G28
G21
G24
G28
Online Access: Fulltext
Database: Istex
Web of Knowledge
Social Sciences Citation Index
Web of Science
Web of Science - Social Sciences Citation Index - 2009
CrossRef
Database information Databases - DBIS