Since the Great Depression and through the mid-seventies, banks have been considered to be relatively stable. However, more recently the rate of failed banks has increased from.04% per year to 0.5% per year. These changes and problems in the banking industry have focused renewed attention on banks and bank failures as an area of research. / This dissertation examines bank failures and bank runs from a theoretical perspective and an empirical perspective. It is organized in the form of two essays. The first essay examines banks from a theoretical perspective using a simulation model. It identifies and explores many of the underlying reasons for failures. The second essay examines banks from an empirical perspective using multiple discriminant analysis and logit analysis. The goal in this essay is to correctly classify and predict group membership in either the failed bank group or the nonfailed bank group. It is hoped that a better understanding of bank failures and runs can be developed from these two essays. / Source: Dissertation Abstracts International, Volume: 51-09, Section: A, page: 3132. / Major Professor: William A. Christiansen. / Thesis (Ph.D.)--The Florida State University, 1990.

Thesis (Ph.D.)--Indiana University, Kelley School of Business, 2009. / Title from PDF t.p. (viewed on Feb. 8, 2010). Source: Dissertation Abstracts International, Volume: 70-05, Section: A, page: 1703. Adviser: Robert Jennings.

This thesis consists of two essays on empirical corporate finance. The first essay documents that the short-run and the long-run stock performance after seasoned equity offerings (SEOs) is positively related to the pre-issue demand from short-term and long-term institutional investors, respectively. This suggests that institutional investors acquire information that is most relevant to their investment horizons. Moreover, institutional investors' information advantage is more pronounced in cold issue markets than in hot issue markets, confirming firms' tendency to issue equity in periods of reduced information asymmetry. In addition, this essay documents that firms issue seasoned equity at a greater discount when the pre-issue demand from short-term institutional investors is low. The second essay examines the effects of CEO career concern incentives on firm policy. We document that a CEO's probability of being fired is positively related to equity risk, idiosyncratic risk and R&D investments. This supports the idea that CEOs with a very high likelihood of being fired tend to take more risks so that good outcomes can prevent their firing (e.g. Zwiebel (1995)). We also document that when a CEO has a high likelihood of being fired, her firm tends to have a higher leverage ratio and lower firm diversification. This is consistent with the idea that CEOs' risk-taking incentives generated when they are facing the pressure of termination could mitigate their risk aversion and induce them to implement riskier corporate policy. / Cette thèse comprend deux essais en finance d'entreprise empirique. Le premier essai met en évidence une relation entre les performances de court terme et de long terme d'une action après une augmentation de capital, et les demandes respectives d'investisseurs institutionnels de court terme et de long terme avant l'opération. Ce résultat suggère que les investisseurs institutionnels acquièrent l'information la plus pertinente pour leurs horizons d'investissement. De plus, l'avantage informationnel des investisseurs institutionnels est plus marqué lorsque les marchés primaires sont favorables que lorsqu'ils sont défavorables, ce qui confirme la tendance des entreprises à émettre du capital lorsque les asymétries informationnelles sont réduites. Cet essai montre aussi que la décote que subissent les entreprises sur les actions nouvellement émises est plus importante lorsque la demande des investisseurs institutionnels de court terme avant l'opération est faible. Le deuxième essai s'intéresse aux effets des ambitions de carrière des chefs d'entreprise sur les politiques menées par l'entreprise. Nous montrons une relation positive entre la probabilité de renvoi du chef d'entreprise et le risque des actions, le risque idiosyncratique et les investissements en R&D. Ce résultat conforte l'idée selon laquelle les chefs d'entreprise ayant une forte probabilité d'être révoqués prennent des risques, en espérant qu'un résultat favorable empêche leur renvoi (voir par exemple Zwiebel, 1995). Nous montrons également qu'une plus forte probabilité d'être révoqué est associée à un levier financier plus élevé et une diversification plus faible. Ce résultat peut s'expliquer par la pression induite par la perspective d'un renvoi, qui attenue l'aversion au risque des chefs d'entreprise et leur donne des incitations mener des politiques d'entreprise plus risquées.

The purpose of this study is to provide a precise and exhaustive study as well as an analysis of the place occupied by the banking security under Quebec Law in relation to the coming into force of the Civil Code of Quebec on January 1st 1994. / The author shall emphasize her research on specific elements that have changed with the existence of new rules of civil law and that will contribute to the creation of new conflicts between financing banks of specific classes of debtors under the Bank Act mechanism and the other creditors of the latter. / A first step will be to review constitutional principles underlying conflicts between provincial private law and federal exclusive jurisdiction matters, an analysis being considered necessary in order to study specific conflicts that might exist along the overlap situations between the Civil Code of Quebec and the Bank Act. / This text core shall emphasize on the nature of the right conferred to the bank by the banking security under the light of the new Quebec law of real security, the effect of article 1801 C.c.Q. in relation to the banking conventions, and the multiple interactions between the banking security and certain types of hypotheses.

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This dissertation investigates the early closure reform proposal through the derivation of bank-specific market-based closure parameters. The study covers 32 quarters from the years 1984 through 1991. The first essay analyzes the relationship between early closure, the flat-rate deposit insurance premium, and the FDIC direct assistance. Optimal bank-specific closure thresholds, expressed as an assets-to-deposits ratio, which make the deposit insurance premium fair, are generated using the Ronn and Verma (1986) option pricing methodology. The results support the hypotheses that troubled banks have a closure threshold less or equal to one but closer to one than for safe banks and that higher capital levels provide additional cushion, inciting the insuring agency to revise the bank's closure threshold downward. In a second essay, bank-specific closure-condition parameters, which represent the value of the opportunity to become solvent and to preserve the franchise value, are derived using the framework developed by Cordell and King (1992). For most banks, the value of forbearance is near zero. The findings also suggest that the model identifies to a certain extent the banks that are financially unsound. A comparison of the closure-condition parameters determined by the franchise value with the closure thresholds that make the deposit insurance premium fair reveals that for most banks, the insuring agency has enough funds to provide the banks with the opportunity to become solvent and preserve the franchise value. The third essay explores the relationship between the bank-specific closure-condition parameters determined in the second essay and business cycles. A leading economic indicator and state personal income are used separately to capture economic activity. The sample consists of 77 banks that are classified into five regions. A seemingly unrelated / regressions framework is used for each region. The results indicate that banks' conditions are rarely influenced by national business cycles. The findings associated with state personal income provide some evidence to support the contention that banks' conditions are influenced by regional economic activity. / Source: Dissertation Abstracts International, Volume: 55-01, Section: A, page: 0112. / Major Professors: William A. Christiansen; David R. Peterson. / Thesis (Ph.D.)--The Florida State University, 1994.

Regulation of the banking industry has been a prominent part of our financial structure for most of this century. The evolutionary cycle of regulation has gone through phases with emphasis vacillating between the extremes of safety and efficiency. As the riskiness of the banking industry heightens, the debate over protectionism versus market discipline intensifies. / The purpose of this dissertation is to investigate the social costs of bank failure through an examination of both the financial and real economic sectors. An empirical examination into the presence of a contagion effect resulting from a large bank failure is conducted by analyzing how banks of various size and geographic regions were affected by the failure of First Republic Bank in Texas. Bank stock price reactions are examined, taking into account nonsynchronous trading and cross-sectional dependence to detect information based industry effects versus panic based contagion effects resulting from this failure. Strong support for the presence of industry effects is observed. Little reaction occurred by banks outside the Texas and Southwest regions. / The effects of bank failure on real sectors of the economy are investigated by examining the impact of a contracted credit intermediation process upon levels of production. The regional economy of Texas is modelled to determine if the disruption in credit services caused by bank instability has adversely affected Gross State Product. Support for the hypothesis that costs of credit intermediation impose real costs upon the Texas economy is observed. / Source: Dissertation Abstracts International, Volume: 50-10, Section: A, page: 3288. / Major Professor: William A. Christiansen. / Thesis (Ph.D.)--The Florida State University, 1989.