Universal banking, Conflicts of interest and firm growth

Journal of Financial Services Research

Volumn 32, Issue 3, 2007, Pages 177-202

  Xie, Lili ^a  

^a BALL STATE UNIVERSITY   (United States)

Author keywords

Conflicts of interest; Economies of scale; Economies of scope; Firm incentive; Universal banking

Indexed keywords

EID: 35348943408     PISSN: 09208550     EISSN: None     Source Type: Journal    
DOI: 10.1007/s10693-007-0016-1     Document Type: Article

References (43)

1. Barth JR, Caprio G Jr, Levine R (2001a) Financial regulation and performance: cross-country evidence. In: Hernandez L, Schmidt-Hebbel K (eds) Banking, financial integration and international crises, Central Bank of Chile
2. Barth JR, Caprio G Jr, Levine R (2001b) Banking systems around the globe: do regulation and ownership affect performance and stability? In: Mishkin FS (ed) Prudential supervision: what works and what doesn't. University of Chicago Press, Chicago, Ill
3. Beck T, Demirguc-Kunt A, Maksimovic V (2005) Financial and legal constraints to firm growth. J Finance 60(1):137-177
4. Berger AN, Udell GF (1996) Universal banking and the future of small business lending. In: Saunders A, Walter I (eds) Universal banking: financial system design reconsidered. Irwin Professional Publishing, Chicago, pp 558-627
5. Calomiris CW (1995) Universal banking and the financing of industrial development. World bank policy research working paper 1533.
6. Cetorelli N, Gambera M (2001) Banking market structure, financial dependence and growth: international evidence from industry data. J Finance 56:617-648
7. Claessens S, Laeven L (2004) What drives bank competition? some international evidence. J Money Credit Bank 36(3):563-583
8. Cornett MM, Ors E, et al. (2002) Bank performance around the introduction of a section 20 subsidiary. J Finance 57(1):501-521
9. Da Rin M, Hellman T (2002) Banks as catalysts for industrialization. J Financ Intermed 11(4):366-397
10. Demirguc-Kunt A, Maksimovic V (2002) Funding growth in bank-based and market-based financial systems: evidence from firm level data. J Financ Econ 65:337-363
11. DeYoung R, Goldberg LG, White LJ (1999) Youth, adolescence and maturity of banks: credit availability to small business in an era of banking consolidation. J Bank Financ 23:463-492
12. Djankov S, McLiesh C, Shleifer A (2007) Private credit in 129 countries. J Financ Econ 84(2):299-329
13. Drucker S, Puri M (2005) On the benefits of concurrent lending and underwriting. J Finance 60(6):2763-2799
14. Elya DP, Robinson KJ (2004) The impact of banks' expanded securities powers on small-business lending. Rev Financ Econ 13:79-102
15. Gande A, Puri M, Saunders A, Walter I (1997) Bank underwriting of debt securities: modern evidence. Rev Financ Stud 10(4):1175-1202
16. Gerschenkron A (1962) Economic backwardness in historical perspective. Harvard Univ. Press, Cambridge, MA
17. Greenbaum SI, Kanatas G, Venezia I (1989) Equilibrium loan pricing under the bank client relationship. J Bank Finance 13(2):221-235
18. Hebb GM, Fraser DR (2002) Conflicts of interest in commercial bank security underwritings: Canadian evidence. J Bank Finance 26:1935-1949
19. Hebb GM, Fraser DR (2003) Conflicts of interest in commercial bank security underwritings: United Kingdom evidence. Q J Bus Econ 42:79-95
20. Kanatas G, Qi J (1998) Underwriting by commercial banks: incentive conflicts, scope economies, and project quality. J Money Credit Bank 30(1):119-133
21. Kaufmann D, Kraay A, Zoido-Lobaton P (1999) Government matters. World Bank Policy Research Working Paper No. 2196
22. King RG, Levine R (1993) Finance, entrepreneurship and growth-theory and evidence. J Monet Econ 32(3):513-542
23. Kroszner RS, Rajan RG (1994) Is the Glass-Steagall Act justified? a study of the U.S. experience with universal banking before 1933. Am Econ Rev 84:810-832
24. Kroszner RS, Rajan RG (1997) Organizational structure and credibility: evidence from commercial bank securities activities before the Glass-Steagall Act. J Monet Econ 39:475-516
25. Laeven L, Levine R (2005) Is there a diversification discount in financial conglomerates? CEPR Discussion Paper No. 5121. Available at SSRN: http://ssrn.com/abstract=781365
26. La Porta R, Lopez-de-Silanes F, Shleifer A (2002) Government ownership of banks. J Finance 57(1):265-301
27. La Porta R, Lopez-de-Silanes F, Shleifer A (2006) What works in securities laws. J Finance 61(1):1-32
28. La Porta R, Lopez-de-Silanes F, Shleifer A, Vishny RW (1998) Law and finance. J Polit Econ 106(6):1113-1155
29. Levine R (2002) Bank-based or market-based financial systems: which is better? J Financ Intermed 11:398-428
30. Levine R, Zervos S (1998) Stock markets, banks and economic growth. Am Econ Rev 88(3):537-558
31. Morck R, Yeung B, Yu W (2000) The information content of stock markets: why do emerging markets have synchronous stock price movements? J Financ Econ 58:215-260
32. Petersen MA, Rajan RG (1995) The effect of credit market competition on lending relationships. Q J Econ 110(2):407-443
33. Puri M (1994) The long-term default performance of bank underwritten security issues. J Bank Financ 18:397-418
34. Puri M (1996) Commercial banks in investment banking: conflicts of interest or certification role? J Financ Econ 40:373-401
35. Rajan RG (1996) The entry of commercial banks into the securities business: a selective survey of theories and evidence. In: Saunders A, Walter I (eds) Universal banking: financial system design reconsidered. Irwin Professional Publishing, Chicago, IL
36. Rajan RG, Zingales L (1998) Financial dependence and growth. Am Econ Rev 88(3):559-586
37. Reynolds TH, Flores AA (1996) Foreign law: current sources of codes and legislation in jurisdictions of the world. Rothman, Littleton, Colo.
38. Roten IC, Mullineaux DJ (2002) Debt underwriting by commercial bank-affiliated firms and investment banks: more evidence. J Bank Financ 26:689-718
39. Sapienza P (2004) The effects of government ownership on bank lending. J Financ Econ 72:357-384
40. Schumpeter J (1939) Business cycles. McGraw-Hill, New York
41. Tadesse S (2002) Financial architecture and economic performance: international evidence. J Financ Intermed 11(4):429-454
42. Xie L (2005) Essays on banking and interest rates. UIUC dissertation.
43. Yasuda A (2005) Do bank relationship affect the firm's underwriter choice in the corporate-bond underwriting market? J Finance 60(3):1259-1291