Evidence on the (non) relationship between concentration and profitability in banking
M Smirlock - Journal of money, credit and Banking, 1985 - JSTOR
SHORTLY AFTER THE Philadelphia National Bank case of 1963, which brought banking
under the jurisdiction of antitrust laws, numerous researchers began to investigate the structure…
under the jurisdiction of antitrust laws, numerous researchers began to investigate the structure…
Tobin's q and the Structure-Performance Relationship
M Smirlock, T Gilligan, W Marshall - The American Economic Review, 1984 - JSTOR
The" traditional" interpretation of the structure-conduct-performance (SCP) relationship is
based on the proposition that market concentration fosters collusion by firms. One result of this …
based on the proposition that market concentration fosters collusion by firms. One result of this …
Day-of-the-week and intraday effects in stock returns
M Smirlock, L Starks - Journal of Financial Economics, 1986 - Elsevier
This study examines day-of-the-week effects using hourly values of the Dow Jones Industrial
Average. We find that over the 1963–1983 period the weekend effect has sifted from …
Average. We find that over the 1963–1983 period the weekend effect has sifted from …
Scale and scope economies in the multi-product banking firm
T Gilligan, M Smirlock, W Marshall - Journal of Monetary Economics, 1984 - Elsevier
The multi-product nature of the banking firm is examined utilizing the translog cost function.
This analysis indicates that, contrary to conventional wisdom, natural monopoly, scale …
This analysis indicates that, contrary to conventional wisdom, natural monopoly, scale …
An empirical analysis of the stock price-volume relationship
M Smirlock, L Starks - Journal of Banking & Finance, 1988 - Elsevier
… level to be achieved over any ot probabi!ity ?dvel is equally likely and their distribution
should be uniform on t This assumption and likelihood ratio test was alsa employed by Smirlock …
should be uniform on t This assumption and likelihood ratio test was alsa employed by Smirlock …
Asset returns, discount rate changes, and market efficiency
M Smirlock, J Yawitz - The Journal of Finance, 1985 - Wiley Online Library
The primary purpose of this paper is to reconcile the previous findings of discount rate
endogeneity with the presence of discount rate announcement effects in securities markets. The …
endogeneity with the presence of discount rate announcement effects in securities markets. The …
A further examination of stock price changes and transaction volume
M Smirlock, L Starks - Journal of Financial research, 1985 - Wiley Online Library
This study provides a further test of whether the price change‐volume relationship is asymmetric
as Epps' theoretical model and empirical evidence indicate. Testing during periods of …
as Epps' theoretical model and empirical evidence indicate. Testing during periods of …
An empirical study of joint production and scale economies in commercial banking
TW Gilligan, ML Smirlock - Journal of Banking & Finance, 1984 - Elsevier
… TW Gilligan and ML Smirlock, Joint production and scale economies … Estimation of 172
cost equations for m bank activities assumes that the marginal costs of producing output Yt is …
cost equations for m bank activities assumes that the marginal costs of producing output Yt is …
Bank foreign lending, mandatory disclosure rules, and the reaction of bank stock prices to the Mexican debt crisis
M Smirlock, H Kaufold - Journal of Business, 1987 - JSTOR
This paper examines the effects on bank valuation of the Mexican debt moratorium in
August 1982. The Mexican default resulted in the passage of regulations requiring public …
August 1982. The Mexican default resulted in the passage of regulations requiring public …
An examination of the empirical relationship between the dividend and investment decisions: a note
M Smirlock, W Marshall - The Journal of Finance, 1983 - Wiley Online Library
This paper empirically examines the separation principle, which asserts that investment
decisions are not influenced by dividend decisions. Existing empirical evidence on this …
decisions are not influenced by dividend decisions. Existing empirical evidence on this …