RISK‐TAKING BEHAVIOR AND MANAGEMENT OWNERSHIP IN DEPOSITORY INSTITUTIONS
We examine the relation between risk and ownership structure among depository institutions. The empirical results provide evidence that the relation between managerial ownership and depository institution risk is negative and significant, suggesting that as managerial ownership increases the level o...
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| Veröffentlicht in: | The Journal of financial research 1998-04, Vol.21 (1), p.1-16 |
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| container_title | The Journal of financial research |
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| creator | Chen, Carl R. Steiner, Thomas L. Whyte, Ann Marie |
| description | We examine the relation between risk and ownership structure among depository institutions. The empirical results provide evidence that the relation between managerial ownership and depository institution risk is negative and significant, suggesting that as managerial ownership increases the level of risk‐taking decreases. This finding, which supports a risk aversion hypothesis, is consistent across several market‐based risk measures. Furthermore, we document greater risk and greater risk aversion for savings institutions relative to commercial banks. |
| doi_str_mv | 10.1111/j.1475-6803.1998.tb00266.x |
| format | Article |
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The empirical results provide evidence that the relation between managerial ownership and depository institution risk is negative and significant, suggesting that as managerial ownership increases the level of risk‐taking decreases. This finding, which supports a risk aversion hypothesis, is consistent across several market‐based risk measures. Furthermore, we document greater risk and greater risk aversion for savings institutions relative to commercial banks.</description><subject>Bank holding companies</subject><subject>Banking industry</subject><subject>Commercial banks</subject><subject>Compensation</subject><subject>Deposit insurance</subject><subject>Depository Institutions Deregulation & Monetary Control Act 1980-US</subject><subject>Economic models</subject><subject>Equity</subject><subject>Financial institutions</subject><subject>Hedging</subject><subject>Hypotheses</subject><subject>Insolvency</subject><subject>Interest rates</subject><subject>Ownership</subject><subject>Put & call options</subject><subject>Risk aversion</subject><subject>Risk exposure</subject><subject>Statistical analysis</subject><subject>Stock exchanges</subject><subject>Stockholders</subject><subject>Studies</subject><subject>Volatility</subject><issn>0270-2592</issn><issn>1475-6803</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>1998</creationdate><recordtype>article</recordtype><sourceid>X2L</sourceid><recordid>eNqVkNFOgzAUhhujiXP6DmT34GkLBbzDybbqBgZQ41VToMSR6SZs6u58BJ_RJ7FsxnubnJ7T9Pz_aT-EBhgsrNd5bWHbdUzmAbWw73vWOgcgjFkfB6j3d3WIekBcMInjk2N00rY1AGDHdXroOuHpzffnVxbc8GhsXIaT4J7HiRFEV8YsiIJxOAujzIgfojBJJ_zW4JFxFd7GKc_i5FGf0oxndxmPo_QUHVVy0aqz39xHd6MwG07MaTzmw2BqFjYhzCxzv8IuUCaBQu7Ssirc0i6pykuPMM-1Gc1VpZgvCctLiaEAaUvAvgOklODSPhrsfVfN8nWj2rWol5vmRY8URH-K-I6HddPFvqlolm3bqEqsmvmzbLYCg-jQiVp0fETHR3ToxC868aHF4724UStV_Cnzhayrl0a14k1QSbDetjp2YirnXaljtcuYiaf1s3YK9k7v84Xa_uMN4nrEk11NfwBi4onC</recordid><startdate>19980401</startdate><enddate>19980401</enddate><creator>Chen, Carl R.</creator><creator>Steiner, Thomas L.</creator><creator>Whyte, Ann Marie</creator><general>Southern Finance Association</general><general>Wiley Subscription Services, Inc</general><scope>DKI</scope><scope>X2L</scope><scope>AAYXX</scope><scope>CITATION</scope></search><sort><creationdate>19980401</creationdate><title>RISK‐TAKING BEHAVIOR AND MANAGEMENT OWNERSHIP IN DEPOSITORY INSTITUTIONS</title><author>Chen, Carl R. ; Steiner, Thomas L. ; Whyte, Ann Marie</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c4226-db9f17036a030b73dfc7d4d3ebd82687463befe69a26bda10c0a4a019502da073</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>1998</creationdate><topic>Bank holding companies</topic><topic>Banking industry</topic><topic>Commercial banks</topic><topic>Compensation</topic><topic>Deposit insurance</topic><topic>Depository Institutions Deregulation & Monetary Control Act 1980-US</topic><topic>Economic models</topic><topic>Equity</topic><topic>Financial institutions</topic><topic>Hedging</topic><topic>Hypotheses</topic><topic>Insolvency</topic><topic>Interest rates</topic><topic>Ownership</topic><topic>Put & call options</topic><topic>Risk aversion</topic><topic>Risk exposure</topic><topic>Statistical analysis</topic><topic>Stock exchanges</topic><topic>Stockholders</topic><topic>Studies</topic><topic>Volatility</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Chen, Carl R.</creatorcontrib><creatorcontrib>Steiner, Thomas L.</creatorcontrib><creatorcontrib>Whyte, Ann Marie</creatorcontrib><collection>RePEc IDEAS</collection><collection>RePEc</collection><collection>CrossRef</collection><jtitle>The Journal of financial research</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Chen, Carl R.</au><au>Steiner, Thomas L.</au><au>Whyte, Ann Marie</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>RISK‐TAKING BEHAVIOR AND MANAGEMENT OWNERSHIP IN DEPOSITORY INSTITUTIONS</atitle><jtitle>The Journal of financial research</jtitle><date>1998-04-01</date><risdate>1998</risdate><volume>21</volume><issue>1</issue><spage>1</spage><epage>16</epage><pages>1-16</pages><issn>0270-2592</issn><eissn>1475-6803</eissn><abstract>We examine the relation between risk and ownership structure among depository institutions. The empirical results provide evidence that the relation between managerial ownership and depository institution risk is negative and significant, suggesting that as managerial ownership increases the level of risk‐taking decreases. This finding, which supports a risk aversion hypothesis, is consistent across several market‐based risk measures. Furthermore, we document greater risk and greater risk aversion for savings institutions relative to commercial banks.</abstract><cop>Columbia</cop><pub>Southern Finance Association</pub><doi>10.1111/j.1475-6803.1998.tb00266.x</doi><tpages>16</tpages></addata></record> |
| fulltext | fulltext |
| identifier | ISSN: 0270-2592 |
| ispartof | The Journal of financial research, 1998-04, Vol.21 (1), p.1-16 |
| issn | 0270-2592 1475-6803 |
| language | eng |
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| source | RePEc; EBSCOhost Business Source Complete; Access via Wiley Online Library |
| subjects | Bank holding companies Banking industry Commercial banks Compensation Deposit insurance Depository Institutions Deregulation & Monetary Control Act 1980-US Economic models Equity Financial institutions Hedging Hypotheses Insolvency Interest rates Ownership Put & call options Risk aversion Risk exposure Statistical analysis Stock exchanges Stockholders Studies Volatility |
| title | RISK‐TAKING BEHAVIOR AND MANAGEMENT OWNERSHIP IN DEPOSITORY INSTITUTIONS |
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