Impact of the Thrift Reform Act and the Future of the Thrift Industry
Author :
Publisher :
Page : 804 pages
File Size : 34,69 MB
Release : 1990
Category : Banking law
ISBN :
Author :
Publisher :
Page : 804 pages
File Size : 34,69 MB
Release : 1990
Category : Banking law
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Author : Practising Law Institute
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Page : pages
File Size : 14,26 MB
Release : 19??
Category : Financial institutions
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Author : United States. Congress. House. Committee on the Judiciary. Subcommittee on Criminal Justice
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Page : 138 pages
File Size : 14,55 MB
Release : 1990
Category : Bank fraud
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Author : James R. Barth
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Page : 38 pages
File Size : 23,66 MB
Release : 1989
Category : Savings and loan associations
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Author :
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Page : 268 pages
File Size : 44,3 MB
Release : 1988
Category : Mortgage loans
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Author :
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Page : 638 pages
File Size : 15,18 MB
Release : 1989
Category : Banking law
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Author : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
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Page : 976 pages
File Size : 40,23 MB
Release : 1986
Category : Corporations
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Author : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
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Page : 224 pages
File Size : 50,10 MB
Release : 1990
Category : Deposit insurance
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Author :
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Page : 187 pages
File Size : 31,5 MB
Release : 1981
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Author : John D. Knopf
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Page : 33 pages
File Size : 20,20 MB
Release : 2008
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ISBN :
This paper is concerned with the relationship between ownership structure and risk taking in the U.S. thrift industry along with the impact of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA) on this relationship. Our results, based on balance sheet and market measures of risk, suggest that insider controlled thrifts were more likely to engage in risk taking behavior prior to 1989 than were diversely held institutions. FIRREA seems to have curtailed much of the risk taking behavior of these institutions; in fact, some evidence suggests that insider controlled thrifts may have actually engaged in less risk taking behavior than their diversely held counterparts after 1989. We find inverse relationships between risk-taking behavior and levels of institutional shareholdings during all periods. This finding, along with the finding that increased risk-taking does not increase returns to thrift shareholders, suggests that the motive for risk-taking behavior on the part of insider held thrifts may not have been the maximization of the acirc;not;Soptionacirc;not;? value associated with shares as reported elsewhere. We do find evidence that entrenched managers may have generated significant private benefits for themselves.