An examination of the equity market response to the gramm-leach-bliley act across commercial banking, investment banking, and insurance firms
- Authors
- Semih Yildirim; 곽승욱; Cary Collins
- Issue Date
- Nov-2006
- Publisher
- Blackwell Publishing
- Citation
- Journal of Business Finance and Accounting, v.33, no.9-10, pp 1629 - 1649
- Pages
- 21
- Journal Title
- Journal of Business Finance and Accounting
- Volume
- 33
- Number
- 9-10
- Start Page
- 1629
- End Page
- 1649
- URI
- https://scholarworks.sookmyung.ac.kr/handle/2020.sw.sookmyung/148536
- DOI
- 10.1111/j.1468-5957.2006.00642.x
- ISSN
- 0306-686X
1468-5957
- Abstract
- This paper examines the wealth effects of the events surrounding the passage of the Gramm-Leach-Bliley Act of 1999 and changes in systematic risk from the pre-Act period to the post-Act period for commercial banks, investment banks, and insurance firms. The results suggest that investment, banks and insurance firms are better positioned to exploit the benefits of product-line diversification opportunities allowed by the legislation compared to commercial banks that experience no significant market reaction. Further evidence indicates a significant risk shift and overall reduction in riskiness for the financial sectors under consideration around the event period. © 2006 Blackwell Publishing Ltd.
- Files in This Item
-
Go to Link
- Appears in
Collections - 경상대학 > 경영학부 > 1. Journal Articles
Items in ScholarWorks are protected by copyright, with all rights reserved, unless otherwise indicated.