This paper explores the effects of earnout contracts used in US financial services M&A. We use propensity score matching (PSM) to address selection bias issues with regard to the endogeneity of the decision of financial institutions to use such contracts. We find that the use of earnout...

The 2008 financial crisis was a watershed moment which clearly influenced the public's perception of the role of 'finance' in society. Since 2008, a plethora of books and newspaper articles have been produced accusing the academic community of being unable to produce valid models which can...

Cover -- Half-Title -- Title -- Copyright -- Contents -- List of Figures -- List of Tables -- Preface and Acknowledgments -- Notes on Contributors -- 1 Financial Development and Financial Crises: Lessons from the Early United States -- 2 Monetary Transmission and Regulatory Impacts: Empirical...

This study examines the firm size distribution of US financial institutions. A truncated lognormal distribution describes the size distribution, measured using assets data, of a large population of small, community-based commercial banks. The size distribution of a smaller but increasingly...

We investigate the determinants of US credit union capital-to-assets ratios, before and after the implementation of the current capital adequacy regulatory framework in 2000.Capitalization varies pro-cyclically, and credit unions classified as adequately capitalized or below followed a faster...