Valuation effects of the International Banking Act on foreign banks operating in the United States
This study empirically evaluates the daily stock price behavior of 31 major foreign banks operating in the United States at the time of the passage of the International Banking Act of 1978. Statistically insignificant abnormal returns are observed during the months of debate over this legislation. H...
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| Veröffentlicht in: | Journal of money, credit and banking credit and banking, 1991-02, Vol.23 (1), p.110-110 |
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| container_title | Journal of money, credit and banking |
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| creator | Mahajan, Arvind Dubofsky, David A Fraser, Donald R |
| description | This study empirically evaluates the daily stock price behavior of 31 major foreign banks operating in the United States at the time of the passage of the International Banking Act of 1978. Statistically insignificant abnormal returns are observed during the months of debate over this legislation. However, negative and statistically significant abnormal returns are found after the bill was signed by President Carter. The empirical results of this analysis, taken together with those of previous research, suggest that the IBA was perceived at the time as having reduced the regulatory inequities between U.S. banks and foreign banks operating in the U.S. (Printed by permission of the publisher.) |
| doi_str_mv | 10.2307/1992767 |
| format | Article |
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Statistically insignificant abnormal returns are observed during the months of debate over this legislation. However, negative and statistically significant abnormal returns are found after the bill was signed by President Carter. 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| fulltext | fulltext |
| identifier | ISSN: 0022-2879 |
| ispartof | Journal of money, credit and banking, 1991-02, Vol.23 (1), p.110-110 |
| issn | 0022-2879 1538-4616 |
| language | eng |
| recordid | cdi_proquest_miscellaneous_37108302 |
| source | Periodicals Index Online; JSTOR Archive Collection A-Z Listing |
| subjects | Analysis Banking Economic models Effects Federal legislation Financial research Foreign banks Hypotheses International banking Prices and rates Regression analysis Stock prices Stocks Studies U.S.A United States Valuation |
| title | Valuation effects of the International Banking Act on foreign banks operating in the United States |
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