| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w17660 |
| 来源ID | Working Paper 17660 |
| The Valuation Effects of Geographic Diversification: Evidence from U.S. Banks | |
| Martin Goetz; Luc Laeven; Ross Levine | |
| 发表日期 | 2011-12-15 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | This paper assesses the impact of the geographic diversification of bank holding company (BHC) assets across the United States on their market valuations. Using two novel identification strategies based on the dynamic process of interstate bank deregulation, we find that exogenous increases in geographic diversity reduce BHC valuations. These findings are consistent with the view that geographic diversity makes it more difficult for shareholders and creditors to monitor firm executives, allowing corporate insiders to extract larger private benefits from firms. |
| 主题 | Financial Economics ; Financial Institutions ; Corporate Finance ; Industrial Organization ; Firm Behavior |
| URL | https://www.nber.org/papers/w17660 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/575335 |
| 推荐引用方式 GB/T 7714 | Martin Goetz,Luc Laeven,Ross Levine. The Valuation Effects of Geographic Diversification: Evidence from U.S. Banks. 2011. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w17660.pdf（401KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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