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- Title
PENN SQUARE, PROBLEM LOANS, AND INSOLVENCY RISK.
- Authors
Lamy, Robert E.; Thompson, G. Rodney
- Abstract
This paper investigates the influence of the failure of Penn Square Bank of Oklahoma City on stock prices within the banking industry. This influence is compared to the results of previous studies of the failures of Franklin National Bank of New York and United States National Bank of San Diego. While each of these earlier studies finds only a transitory impact on bank securities, this paper finds evidence of a structural change in the pricing mechanism for bank stocks after the Penn Square failure.
- Subjects
UNITED States; PENN Square Bank (Company); FRANKLIN National Bank (Company); UNITED States National Bank (Company); PRICES of securities; BANKING industry; STOCK prices; BANKRUPTCY
- Publication
Journal of Financial Research, 1986, Vol 9, Issue 2, p103
- ISSN
0270-2592
- Publication type
Article
- DOI
10.1111/j.1475-6803.1986.tb00440.x