Geographic diversification, bank holding company value, and risk

被引：141

作者：

Deng, Saiying ^{[1
,2
]}

Elyasiani, Elyas ^{[3
]}

机构：

[1] Univ Minnesota, Dept Finance, Labovitz Sch Business & Econ, Duluth, MN 55812 USA

[2] Univ Minnesota, MIS, Labovitz Sch Business & Econ, Duluth, MN 55812 USA

[3] Temple Univ, Fox Sch Business & Management, Dept Finance, Philadelphia, PA 19122 USA

来源：

JOURNAL OF MONEY CREDIT AND BANKING | 2008年 / 40卷 / 06期

关键词：

bank holding company; geographic diversification; distance; firm value; risk;

D O I：

10.1111/j.1538-4616.2008.00154.x

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We assess the association between geographic diversification and bank holding company (BHC) value and risk, controlling for the distance between the headquarters and branches. The distance-adjusted deposit dispersion index used as a measure of geographic diversification accounts for the number of locations where a BHC operates, the level of activity in each location, and the distance between a BHC and its branches. We find that geographic diversification is associated with BHC value enhancement and risk reduction, increased distance between a BHC and its branches is associated with firm value reduction and risk increase, and geographic diversification across more remote areas is associated with greater value enhancement but smaller risk reduction.

引用

页码：1217 / 1238

页数：22