First published in 1996. The focus of this work is to investigate the changing nature of competition in the United States' commercial banking industry from 1973-1988 by examining earnings from individual products. The industry underwent tremendous changes during this period.
First published in 1996. The focus of this work is to investigate the changing nature of competition in the United States' commercial banking industry from 1973-1988 by examining earnings from individual products. The industry underwent tremendous changes during this period.
List of Tables List of Figures Acknowledgments Preface CONTESTABLE MARKETS THEORY AND COMMERCIAL BANKING Introduction Application of Contestable Markets Theory to Commercial Banking Discussion of Theory Assumptions for Individual Products LITERATURE REVIEW Aggregate Empirical Research in CMT Other Empirical Research in CMT METHODOLOGY Profitability Measurement One Factor Model Excess Market Value Tobin's q Approximation Compensating Deviation Measurement Cash Flow Evaluation Disaggregated FCA Data RESULTS Profitability Measurement Tests One Factor Model Excess Market Value Tobin's q Approximation V. IMPLICATIONS OF RESULTS Summary of Results Implications Future Research BIBLIOGRAPHY INDEX
List of Tables List of Figures Acknowledgments Preface CONTESTABLE MARKETS THEORY AND COMMERCIAL BANKING Introduction Application of Contestable Markets Theory to Commercial Banking Discussion of Theory Assumptions for Individual Products LITERATURE REVIEW Aggregate Empirical Research in CMT Other Empirical Research in CMT METHODOLOGY Profitability Measurement One Factor Model Excess Market Value Tobin's q Approximation Compensating Deviation Measurement Cash Flow Evaluation Disaggregated FCA Data RESULTS Profitability Measurement Tests One Factor Model Excess Market Value Tobin's q Approximation V. IMPLICATIONS OF RESULTS Summary of Results Implications Future Research BIBLIOGRAPHY INDEX
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