Thesis (Ph. D.)--Ohio State University, 2003. / Title from first page of PDF file. Document formatted into pages; contains xii, 131 p.; also includes graphics (some col.) Includes bibliographical references (p. 120-131). Available online via OhioLINK's ETD Center

Thesis (M.B.A.)--University of Hong Kong, 1998. / Includes bibliographical references (leaf 73-74).

Thesis (M. Soc. Sc.)--University of Hong Kong, 1992.

Thesis (M.Soc.Sc.)--University of Hong Kong, 1992. / Also available in print.

A variety of both parametric and nonparametric test statistics have been employed in the finance literature for the purpose of conducting hypothesis tests in event studies. This thesis begins by formally deriving the result that these statistics may not follow their conventionally assumed distribution in finite samples and in some cases even asymptotically. Thus, standard event study test statistics can exhibit a statistically significant bias to size in practice, a result which I document extensively. The bias typically arises due to commonly observed stock return traits, including non-normality, which violate basic assumptions underlying the event study test statistics. In this thesis, I develop an unbiased and powerful alternative: conventional test statistics are normalized in a straightforward manner, then their distribution is estimated using the bootstrap. This bootstrap approach allows researchers to conduct powerful and unbiased event study inference. I adopt the approach in an event study which makes use of a unique data set of failed-bank acquirers in the United States. By employing the bootstrap approach, instead of more conventional and potentially misleading event study techniques, I overturn the past finding of significant gains to failed-bank acquirers. This casts doubt on the common belief that the federal deposit insurance agency's failed-bank auction procedures over-subsidize the acquisition of failed banks.

A variety of both parametric and nonparametric test statistics have been employed in the finance literature for the purpose of conducting hypothesis tests in event studies. This thesis begins by formally deriving the result that these statistics may not follow their conventionally assumed distribution in finite samples and in some cases even asymptotically. Thus, standard event study test statistics can exhibit a statistically significant bias to size in practice, a result which I document extensively. The bias typically arises due to commonly observed stock return traits, including non-normality, which violate basic assumptions underlying the event study test statistics. In this thesis, I develop an unbiased and powerful alternative: conventional test statistics are normalized in a straightforward manner, then their distribution is estimated using the bootstrap. This bootstrap approach allows researchers to conduct powerful and unbiased event study inference. I adopt the approach in an event study which makes use of a unique data set of failed-bank acquirers in the United States. By employing the bootstrap approach, instead of more conventional and potentially misleading event study techniques, I overturn the past finding of significant gains to failed-bank acquirers. This casts doubt on the common belief that the federal deposit insurance agency's failed-bank auction procedures over-subsidize the acquisition of failed banks. / Business, Sauder School of / Graduate

published_or_final_version / Business Administration / Master / Master of Business Administration

In partial fulfilment of the requirements for the Master of Management Degree in Finance & Investment Management / The fragility of the banking sector and the systemic effects of bank failures coupled with the position banks occupy as the centre of financial and economic activity has called for effective regulatory reforms to ensure greater supervision and monitoring, prudent banking practices, financial stability and restoration of public confidence in the financial system. Therefore, this study is aimed at examining the spate of bank failures in Africa and the extent to which the introduction of regulatory reforms and prudential measures by regulatory authorities have impacted or helped in reducing the incidence of bank failures in Africa. To this end, the study looks at the various determinants of bank failures and fragility, indicators of financial soundness, the measures adopted so far in curbing bank failures and the resultant effect, the deficiencies in the existing reforms and regulations as well as policy recommendations for future studies. The study revealed that successful implementation of reforms is not limited to effective prudential approach & guidelines but largely influenced by Macro-economic conditions in the economy. For the purpose of performance evaluation and assessing the impact of regulatory reforms on the banking sector in Africa (Pre reform and Post reform), this study looks at a case study of some selected African countries namely Nigeria, South Africa, Zambia, Uganda, Ghana to enable us have a clear insight on the performance of banks pre-reforms and post reforms. Keywords: Banking sector reforms, Financial intermediation, Banking crisis, Bank performance, Capital adequacy. / GR2018

Thesis (Ph. D.)--Hong Kong University of Science and Technology, 2004. / Includes bibliographical references. Also available in electronic version. Access restricted to campus users.

Thesis (Ph.D.)--Iowa State University, 2008. / Advisers: Harvey E. Lapan, P. Marcelo Oviedo. Includes bibliographical references.