search query: @author Berger, A.N. (et al.) / total: 3
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| Author: | Berger, A.N. (et al.) |
| Title: | Why are bank profits so persistent? The roles of product market competition, informational opacity, and regional/macroeconomic shocks |
| Journal: | Journal of Banking and Finance
2000 : JUL, VOL. 24:7, p. 1203-1235 |
| Index terms: | Banking Profit Regulations Products Markets Competition |
| Language: | eng |
| Abstract: | This paper investigates how banking market competition, informational opacity, and sensitivity to shocks have changed over the last 3 decades by examining the persistence of firm-level rents. Developed are propagation mechanisms with testable implications to isolate the sources of persistence. This paper's analysis suggests that different processes underlie persistence at the high and low ends of the performance distribution. The tests suggest among others that impediments to competition and informational opacity continue to be strong determinants of persistence. The findings also suggest reasons for the recent record profitability of the industry. |
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