Changes in Interstate Banking Laws: The Impact on Shareholder Wealth
研究跨州银行法变更对股东财富的影响，发现允许跨州银行的法律会提升区域银行股价，但降低货币中心银行股价。
ABSTRACT This study examines the impact on shareholder wealth of changes in interstate banking laws. The research demonstrates that changes in state statutes which allow interstate banking have a positive impact on the stock prices of regional banking organizations and a negative impact on the stock prices of money center banks. Interstate banking statutes initially exclude those states in which the money center banks are headquartered. The findings provide evidence that, by excluding money center banks from expansion across state lines, the competition from the regional banks may have an adverse competitive effect on the money center banks.