Bank stock performance and bank regulation around the globe
研究了1999-2012年间全球银行资本、监管和监督对年度股票表现的影响，发现高一级资本在平时降低表现，但在危机时提升表现，且更可能获得政府救助的银行表现更差。
We analyze the effect of bank capital, regulation, and supervision on the annual stock performance of global banks during the period of 1999–2012. We study a large comprehensive panel of international banks and find that higher Tier 1 capital decreases a bank's stock performance over the whole sample period. However, during turbulent times stocks of more highly capitalized banks perform significantly better. Additionally, we find strong evidence that banks that are more likely to receive government bailout during financial distress realize smaller stock performance. In contrast, we find no convincing evidence that banks that generate higher non-interest income have a higher performance.