Bank regulation, financial crisis and the announcement effects of seasoned equity offerings of US commercial banks

This paper studies the differences in the announcement effects of seasoned equity offerings (SEOs) of commercial banks and non-banks, and explores the influence of bank regulation and the financial crisis on such differences. We find that abnormal stock returns on SEO announcements for US commercial banks are significantly higher than those of non-banks, consistent with the hypothesis that bank regulations reduce the likelihood that bank SEOs signal overpriced equity. The propensity score matching-based difference-in-difference analysis indicates that the differences in stock returns between banks and non-banks decreased during the 2007–2009 financial crisis period and increased after the passage of the Dodd-Frank Act in 2010

Short-term safety or long-term failure? Empirical evidence of the impact of securitization on bank risk

Based on a sample of U.S. commercial banks from 2002 to 2012, this paper shows that bank loan securitization has a significant and positive impact on both Z-scores and the likelihood of bank failure, indicating a short-term risk reduction and a long-term risk increase effect. We also find disparate impacts between mortgage and non-mortgage securitization. Loan sale activities are found to have a similar impact to securitization

Elbow plot for loglikelihood-based indices among the LPA solutions.

<p>Elbow plot for loglikelihood-based indices among the LPA solutions.</p

Construct correlations with external variables (for variable-centered approach solution) and mean comparison among profiles on external variables (for person-centered approach solution).

<p>Construct correlations with external variables (for variable-centered approach solution) and mean comparison among profiles on external variables (for person-centered approach solution).</p

Fit information of latent profile analysis (LPA), confirmatory factor analysis (CFA), and factor mixture modeling (FMM).

<p>Fit information of latent profile analysis (LPA), confirmatory factor analysis (CFA), and factor mixture modeling (FMM).</p

Selected latent profile solutions.

<p>Selected latent profile solutions.</p

The age distribution of nosocomial <i>A</i>. <i>baumannii</i> complex isolates from children younger than 18 years.

<p>The age distribution of nosocomial <i>A</i>. <i>baumannii</i> complex isolates from children younger than 18 years.</p

Comparison of risk factors among children with nosocomial MDR <i>A</i>. <i>baumannii</i> complex and nosocomial non-MDR <i>A</i>. <i>baumannii</i> complex: univariate analysis.

<p>Comparison of risk factors among children with nosocomial MDR <i>A</i>. <i>baumannii</i> complex and nosocomial non-MDR <i>A</i>. <i>baumannii</i> complex: univariate analysis.</p

The distribution of nosocomial <i>A</i>. <i>baumannii</i> complex isolates from children in different hospital departments.

<p>The distribution of nosocomial <i>A</i>. <i>baumannii</i> complex isolates from children in different hospital departments.</p

The antibiotic susceptibility of nosocomial <i>A</i>. <i>baumannii</i> complex.

<p>The antibiotic susceptibility of nosocomial <i>A</i>. <i>baumannii</i> complex.</p