The Risk Effects of Bank Acquisitions
研究了1984年第一季度至1993年第四季度间银行收购的风险效应，发现银行并未通过收购增加风险暴露，且收购长期提升了盈利能力，质疑了风险分散作为收购动机的重要性。
An examination of the risk effects of bank acquisitions that occurred between the first quarter of 1984 and the last quarter of 1993. Its findings -- that banks are not using acquisitions to increase their risk exposure and that acquisitions increase profitability over time -- cast doubt on the importance of risk diversification as a motive for bank acquisitions.