Cross-border impact of the Financial Services Modernization Act: evidence from large foreign banks

被引：1

作者：

Mamun, Abdullah ^{[1
]}

Hassan, M. Kabir ^{[2
]}

Isik, Ihsan ^{[3
]}

机构：

[1] Univ Saskatchewan, Edwards Sch Business, Saskatoon, SK S7N 5A7, Canada

[2] Univ New Orleans, Coll Business Adm, New Orleans, LA 70148 USA

[3] Rowan Univ, Rohrer Coll Business, Glassboro, NJ USA

来源：

APPLIED ECONOMICS LETTERS | 2011年 / 18卷 / 04期

关键词：

INTERNATIONAL DEBT CRISIS; UNITED-STATES; SECURITY RETURNS;

D O I：

10.1080/13504851003670627

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This article investigates the impact of the Financial Services Modernization Act (FSMA) on foreign banks. We find that the banking sectors of most developed countries experience significant negative spillover effect. However, the impacts on any two countries' banking sectors are not identical. Most importantly, we show that exposure to systematic risk with respect to the world equity index can explain the cross-sectional variation of the wealth effects. We also find that larger banks are more adversely affected.

引用

页码：337 / 341

页数：5

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