The sensitivity of bank stock returns to market, interest and exchange rate risks

Article Abstract:

A study of 48 US banks from 1975 to 1987 is conducted using a multifactor index model. The empirical examination focuses on the joint sensitivity of bank stock returns to interest and exchange rates and market risk factors. Results indicate that exchange rates have a significant negative relation to bank stock returns for the period covered until after Oct 1979, when the effect became positive. The effects of market risk and interest rate factors on returns are temporal and dewpendent of the money-center status of banks.

Prices and rates, Foreign exchange, Foreign exchange rates, Interest rates, Bank stocks

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Productive efficiency performance of minority and nonminority-owned banks: a nonparametric approach

Article Abstract:

The productive efficiency of minority-owned banks (MOBs) is examined against that of nonminority-owned banks (NMOBs). Findings indicate that, all things being equal, MOBs are equal in terms overall efficiency measure, input usage, optimality of the resource mix, pure technical and scale efficiency components to NMOBs. Within the MOB group efficiency differentials exist relative to their location. The poor profitability of MOBs, then, can be attributed to factors other than input-output transformation.

Banking industry, Evaluation, Industrial efficiency, Economic efficiency, Minority-owned banks

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Does the stock market predict real activity? Time series evidence from the G-7 countries

Article Abstract:

Links between real stock returns and growth rates for industrial production are examined for G-7 economies.

Securities and Commodity Exchanges, Security and commodity exchanges, Securities Exchanges, Stock-exchange, Stock exchanges, Exchanges, Group of 7

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