IMF paper investigates valuation impacts of geographic diversification
A new International Monetary Fund research paper finds that geographic diversification of bank holding company assets makes it more difficult for shareholders and creditors to monitor firm executives.
Martin Goetz, Luc Laeven and Ross Levine, the paper's authors, assess the impact of the geographic diversification of bank holding company assets across the US on their market valuations. Making use of two identification strategies based on the dynamic process of interstate bank deregulation, the
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