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| Author: | Ahmed, A. Takeda, C. |
| Title: | Stock market valuation of gains and losses on commercial banks' investment securities: an empirical analysis |
| Journal: | Journal of Accounting & Economics
1995 : SEP, VOL. 20:2, p. 207-225 |
| Index terms: | VALUATION STOCK MARKETS LOSS |
| Language: | eng |
| Abstract: | Prior studies document an insignificant effect of unrealized gains/losses (URGL) and a negative effect of a realized gains/losses (SGL) on bank stock returns. The authors argue that these results may reflect the omission of changes in value of other net assets resulting from interest rate changes. The authors find that after controlling for effects of other (on-balance sheet) net assets, both URGL and SGL have significant positive effects on bank returns in normal periods. |
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