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| Author: | Flannery, M. J. Kwan, S. H. Nimalendran, M. |
| Title: | Market evidence on the opaqueness of banking firms' assets |
| Journal: | Journal of Financial Economics
2004 : MAR, VOL. 71:3, p. 419-460 |
| Index terms: | Assets Banking Bank holding companies Market structure USA |
| Language: | eng |
| Abstract: | The market microstructure properties of U.S. banking companies' equity are assesed to determine whether they exhibit more or less evidence of asset opaqueness than similar-sized nonbanking companies. The results show that large bank holding companies (BHCs), traded on the NYSE, have very similar trading properties to their matched nonfinancial companies. In contrast, smaller BHC's, traded on NASDAQ, trade much less frequently despite having very similar spreads. |
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