University of North Carolina and University of Oregon, respectively. Special thanks go to Ron Masulis and Wayne Ferson for lengthy discussions on the subject of this paper. We would also like to thank Larry Dann, Mike Hopewell, Megan Partch, George Racette, Richard Startz, Alden Toevs, and Peggy Wier for helpful discussion and criticisms. Sally Collier, Kathi Martell, and Diane Mayer provided excellent research assistance. A portion of this study was undertaken while the first author was a research advisor to the Federal Reserve Bank of Philadelphia and the second author was a consultant to the Comptroller of the Currency. The views expressed here in no way represent those of the Federal Reserve Bank of Philadelphia or the Comptroller of the Currency.
The Effect of Interest Rate Changes on the Common Stock Returns of Financial Institutions
Version of Record online: 30 APR 2012
© 1984 the American Finance Association
The Journal of Finance
Volume 39, Issue 4, pages 1141–1153, September 1984
How to Cite
FLANNERY, M. J. and JAMES, C. M. (1984), The Effect of Interest Rate Changes on the Common Stock Returns of Financial Institutions. The Journal of Finance, 39: 1141–1153. doi: 10.1111/j.1540-6261.1984.tb03898.x
- Issue online: 30 APR 2012
- Version of Record online: 30 APR 2012
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