Managerial Finance: Volume 23 Issue 2

Alternative Models for the Conditional Heteroskedasticity of Stock Returns: Evidence from Deposit Institutions

Bill B. Francis

The interest shown in the study of the volatility of asset prices has been considerable for several years. In an important paper, Merton (1980) pointed out that a weakness of a…

What Caused the Great Depression in the United States?

Paul Evans

Friedman and Schwartz have argued that the Great Depression was primarily caused by mistakes in monetary policy. This paper presents evidence supporting this view. Four percent…

The Re‐Internationalization of Banking and the Financial System

James R. Lothian

Banking and finance during the past several decades have become “re‐internationalized,” not simply “internationalized.” This becomes clear when we compare the institutional…

Accounting Income and Market Prices: Explaining Core‐Deposit Premiums

Mike Carhill

Core‐deposit franchises usually fetch substantial premiums when placed on the market. Those premiums are consistent with the “core‐deposit hypothesis:” because of limitations on…

Branching Restrictions and Banking Offices

Gerald P. Dwyer

The available evidence is partly consistent and partly inconsistent with a negative association of branching restrictions and the number of banking offices. In this paper, I…

Thrift Size, Risk‐Taking and Return Performance

John D. Knopf, John L. Teall

Return and risk performance of US thrift institutions during the period 1986–90 was inversely related to both firm size and the extent to which the thrifts engaged in…