Publications

Article

The Cross Section of Bank Value

By: Mark Egan, Stefan Lewellen and Adi Sunderam

We study the determinants of value creation in U.S. commercial banks. We develop novel measures of individual banks' productivities at collecting deposits and making loans. We relate these measures to bank market values and find that deposit productivity is responsible... View Details

Keywords: Productivity; Banks and Banking; Valuation; Performance Productivity; Value Creation; United States

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April 2010 (Revised July 2010)
Background Note

Introduction to Mutual Funds

By: Robert C. Pozen

This note is an excerpt from my book The Mutual Fund Business and is an introduction to mutual funds, contrasted with commercial banks. View Details

Keywords: Commercial Banking; Investment; Investment Funds; Banking Industry

29 Aug 2012
News

Composer finds mix of avocations a fine 'cocktail'

Keywords: Performing Arts, Spectator Sports, and Related Industries; Arts, Entertainment; Finance

February 1996
Case

USX Corporation

By: Stuart C. Gilson and Jeremy Cott

A large diversified steel and energy firm is pressured by a corporate raider to spin off its steel business in order to increase its stock price. As an alternative to the spinoff, management proposes replacing the company's common stock with two new classes of... View Details

Keywords: Restructuring; Stocks; Valuation; Financial Institutions; Cash Flow

October 1995 (Revised June 1996)
Case

ABN-AMRO Holding N.V. and Smit Transformatoren N.V. (A)

By: Peter Tufano

ABN-AMRO, the largest bank in the Netherlands, must decide whether to take any action in regard to the poor performance of Smit Transformatoren, a Dutch transformer manufacturer. ABN-AMRO acted as lead underwriter for the IPO of Smit, and also released a favorable... View Details

Keywords: Initial Public Offering; Capital Markets; Investment Banking; Banking Industry; Financial Services Industry; Netherlands

February 1992 (Revised July 1993)
Case

Telefonica de Argentina S.A.

Deals with the privatization of the Argentine telephone industry. Focuses on the restructuring aspect. Commercial banks owned sovereign debt of Argentina trading at a deep discount to par. The question is whether the banks should exchange their sovereign debt... View Details

Keywords: Financial Instruments; Restructuring; Privatization; Commercial Banking; Telecommunications Industry; Argentina

March 2021
Article

Loan Guarantees and Credit Supply

By: Natalie Bachas, Olivia S. Kim and Constantine Yannelis

The efficiency of federal lending guarantees depends on whether guarantees increase lending supply or simply act as a subsidy to lenders. We use notches in the guarantee rate schedule for Small Business Administration (SBA) loans to estimate the elasticity of bank... View Details

Keywords: Borrowing and Debt; Financing and Loans; Banks and Banking; Credit

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April 2012
Case

Bank of America: Mobile Banking (Abridged)

By: Sunil Gupta and Michael Norris

In January 2010, Bank of America is discussing its future mobile strategy. Should the company add complexity to its app, design multiple apps for business segments, or expand into other mobile channels? View Details

Keywords: Technology Adoption; Mobile and Wireless Technology; Banks and Banking; Banking Industry; United States

1995
Chapter

Financial Infrastructure and Public Policy: A Functional Perspective

By: Robert C. Merton and Zvi Bodie

Keywords: Financial Markets; Financial Institutions; Policy; Government and Politics; Business and Government Relations; Banking Industry; Financial Services Industry

2007
Working Paper

New Framework for Measuring and Managing Macrofinancial Risk and Financial Stability

By: Dale F. Gray, Robert C. Merton and Zvi Bodie

This paper proposes a new approach to improve the way central banks can analyze and manage the financial risks of a national economy. It is based on the modern theory and practice of contingent claims analysis (CCA), which is successfully used today at the level of... View Details

Keywords: Financial Crisis; Macroeconomics; Central Banking; Risk Management

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July 2002
Case

First American Bank: Credit Default Swaps

This case examines a bank's ability to manage its credit exposure to a particular client using credit default swaps. View Details

Keywords: Credit Derivatives and Swaps; Risk and Uncertainty; Banks and Banking; Banking Industry

1995
Chapter

The Evolution of European Multinational Banking before 1914: Comparisons and Contrasts

By: G. Jones

Keywords: History; Multinational Firms and Management; Banks and Banking; Banking Industry; Europe

spring 1983
Article

The Evolution of International Banking Competition and Its Implications for Regulation

By: D. B. Crane and Samuel L. Hayes III

Keywords: Banks and Banking; Competition; Governing Rules, Regulations, and Reforms