Managerial Finance: Volume 22 Issue 7

Finance and the Regulatory Environment — An Introduction

M. Andrew Fields

The pace of new regulation has been quite rapid in the United States during the past fifteen years. Consider the number of major pieces of legislation that have been passed during…

Effects of Bailout Legislation: Implications from the Stock Market for Thrift Shareholders

Sylvia C. Hudgins, Richard Gregory

The examination of the differential effects of bailout legislation on well‐capitalized versus under‐capitalized thrifts is the focus of this study. The study examines return…

The Impact of Interstate Banking Legislation on Target and Buyer Bank Stock Returns

Harold A. Black, M. Andrew Fields, Robert L. Schweitzer

There has been a loosening of the regulation governing the market for corporate control in the banking industry. Nearly every state in the U.S. has passed some form of interstate…

Wealth Impact of Dividend Changes Within the Insurance Industry

Roger M. Shelor, Dennis T. Officer, Mark L. Cross

This study examines the market reaction when announcements of large dividend increases are made by more versus less rate‐regulated firms in the same industry. The insurance…

Changes in Corporate Capital Structures: Evidence from the 1986 Tax Reform Act

Chang‐Soo Kim

This paper employs choice‐theoretic models to study the impact of the 1986 Tax Reform Act on firms' issue behavior and the determinants of corporate capital structures…

Third World Debt Default Announcements and Market Learning: Effects of Sequential Debt Defaults on U.S. Banks

George C. Philippatos, K.G. Viswanathan

From 1982 to 1987, several Third World borrowers defaulted on their loans to U.S. creditor banks. The defaults resulted in the deterioration of the quality of loan assets held by…