The Case for Regulatory Rent-Seeking: CRA Based Protests of Bank Mergers and Acquisitions

被引：0
|
作者：
Marshall Gramm
机构：
[1] Rhodes College,Department of Economics and Business
来源：
Public Choice | 2003年 / 116卷
关键词：
Public Finance; Significant Time; Time Cost; Community Group; Group Behavior;
D O I：
暂无
中图分类号：
学科分类号：
摘要：
This paper addresses the question of regulatory rent seekingbased on protests of proposed bank mergers and acquisitionssubmitted by community groups to bank regulators. Theories ofCRA-related community group behavior based on benevolence andrent seeking, yield significantly different implicationsconcerning the effect of a bank's CRA rating on protestprobability, allowing for a clear test of the underlyingmotive for protest activity. The analysis shows: (1) protestsimpose significant time cost on merger and acquisitionapplications and (2) the benevolent-based theory must berejected in favor of the rent-seeking theory.
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页码：367 / 379
页数：12
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