Regulatory oversight and bank risk
以2018年《经济增长、监管救济与消费者保护法案》为背景，研究发现受监管变化影响的大型银行控股公司风险上升，同时盈利能力和市场估值提高，合规成本降低。
We investigate how a change in regulatory oversight affects bank risk, using the passage of the Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018 as a setting. Using a sample of bank holding companies (BHCs) covering the period 2015Q1 through 2020Q1, we find that risk increases for large BHCs affected by a change in regulatory oversight. In addition to increasing bank level risk, affected BHCs increase their respective contribution to the systemic risk. These BHCs also experience higher profitability, increased market valuation and reduced compliance costs.