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Journal of Financial Services Research

Erschienen in:

19.01.2022

Retrospective on Twenty Years of the FDIC-JFSR Bank Research Conference

verfasst von: Haelim Anderson, Michael Carabello, Troy Kravitz

Erschienen in: Journal of Financial Services Research | Ausgabe 1/2022

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Abstract

The first annual Bank Research Conference was held at the Federal Deposit Insurance Corporation in 2000. The conference has served to disseminate policy-relevant research on issues affecting the banking sector and the stability of the financial system. We evaluate the impact of the conference on policy and research communities, financial regulation, and the banking and finance literature. We examine the topics discussed since the conference’s inception and we provide qualitative evidence that the conference has contributed to policy implementation and evaluation. We also examine publication status and citation counts and show that the conference has made an important contribution to research in banking and finance.

Nächster Artikel Local Banking Market Frictions and Youth Crime: Evidence from Bank Failures

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A full list of BRC session titles is included in Appendix 1, and presentations are organized by topic in Appendix 2.

The inaugural Poster Session at the 2019 conference was not limited to graduate students.

See Appendix 3 for a list of keynote addresses.

There was no conference in 2001 as the Bank Research Conference was initially planned to be biennial. Following the success of the first conference, FDIC sponsors committed additional resources to make it an annual conference.

The 2020 Bank Research Conference was cancelled due to the COVID-19 pandemic.

Similar results are obtained by charting the frequency of identifying keywords used in the titles of conference presentations.

Presentations from 2008 were submitted in the spring and selected in the summer, before the collapse of Lehman Brothers.

Hett and Schmidt (2017), for example, find that market discipline deteriorated over the course of the crisis following the rescue of Bear Stearns.

In 2012, the FDIC launched a Consumer Research Symposium focused on research in consumer finance.

The Emergency Economic Stabilization Act of 2008, Pub. L. No. 110–343 (2008), available at https://www.govinfo.gov/content/pkg/BILLS-110hr1424enr/pdf/BILLS-110hr1424enr.pdf.

See Bachelder (2008).

See Bennett et al. (2015), DeYoung et al. (2013), Erkens et al. (2012), Fahlenbrach and Stulz (2011), Srivastav et al. (2018), Thanassoulis (2012) (presented as “Bankers’ Pay Structure and Risk”), Tzioumisa and Geeb (2013), and Vallascas and Hagendorff (2013).

The process is often complicated as papers sometimes change titles during the publication process. Rarely, too, authors are added or removed.

The timeline is not comprehensive as other financial system regulations were promulgated during the period. For more information, see Appendix 2: Selected Federal Agency Actions Affecting Community Banks, 2008–2019 of the 2020 FDIC Community Banking Study, available at https://www.fdic.gov/resources/community-banking/cbi-study.html, and the FDIC’s list of “Important Banking Laws,” available at https://www.fdic.gov/regulations/laws/important/.

Consumer Financial Protection Bureau, “Ability-to-Repay and Qualified Mortgage Standards Under the Truth in Lending Act (Regulation Z),” Federal Register 78, No. 20 (January 30, 2013): 6407, https://www.govinfo.gov/content/pkg/FR-2013-01-30/pdf/2013-00736.pdf.

Federal Reserve System, “Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Capital Adequacy, Transition Provisions, Prompt Corrective Action, Standardized Approach for Risk-Weighted Assets, Market Discipline and Disclosure Requirements, Advanced Approaches Risk-Based Capital Rule, and Market Risk Capital Rule,” Federal Register 78, No. 198 (October 11, 2013): 62018, https://www.govinfo.gov/content/pkg/FR-2013-10-11/pdf/2013-21653.pdf.

Published as “Credit Ratings and Security Prices in the Subprime MSB Market.”

Published as “Ratings-Based Regulation and Systematic Risk Incentives,” with João Santos.

Dodd-Frank Wall Street Reform and Consumer Protection Act, U.S. Code 12 (2010) § 1851.

Office of the Comptroller of the Currency et al., “Credit Risk Retention,” Federal Register 79, No. 247 (December 24, 2014): 77601, https://www.govinfo.gov/content/pkg/FR-2014-12-24/pdf/2014-29256.pdf.

Fast Track Sessions include papers that did not fit within other conference sessions. Those papers are presented in a shared panel without moderator discussion.

The Poster Session is a presentation of a poster-sized billboard of key points of research papers. Posters are displayed in the conference meeting area for discussion between conference sessions.

Acharya V, Steffen S (2015) The "greatest" carry trade ever? Understanding Eurozone Bank risks. J Financ Econ 115(2):215–236. https://doi.org/10.1016/j.jfineco.2014.11.004CrossRef

Agarwal V, Daniel N, Naik N (2009) Role of managerial incentives and discretion in hedge fund performance. J Financ 64(5):2221–2256. https://doi.org/10.1111/j.1540-6261.2009.01499.xCrossRef

Bachelder J (2008) EESA limits on executive pay at affected institutions. New York Law J 14:2008

Baele L, De Jonghe O, Vennet RV (2007) Does the stock market value Bank diversification? J Bank Financ 31(7):1999–2023. https://doi.org/10.1016/j.jbankfin.2006.08.003CrossRef

Bennett R, Güntay L, Ünal H (2015) Inside debt, Bank default risk, and performance during the crisis. J Financ Intermed 24(4):487–513. https://doi.org/10.1016/j.jfi.2014.11.006CrossRef

Berger A, Bouwman C (2009) Bank liquidity creation. Rev Financ Stud 22(9):3779–3837. https://doi.org/10.1093/rfs/hhn104CrossRef

Boyd J, De Nicoló G (2005) The theory of Bank risk-taking and competition revisited. J Financ 60(3):1329–1343. https://doi.org/10.1111/j.1540-6261.2005.00763.xCrossRef

Brunnermeier M, Dong GN, Palia D (2020) Banks' noninterest income and systemic risk. Rev Corp Financ Stud 9(2):229–255. https://doi.org/10.1093/rcfs/cfaa006CrossRef

Buchak G, Matvos G, Piskorski T, Seru A (2018) Fintech, regulatory arbitrage, and the rise of shadow banks. J Financ Econ 130(3):453–483. https://doi.org/10.1016/j.jfineco.2018.03.011CrossRef

Chakraborty I, Goldstein I, MacKinlay A (2020) Monetary stimulus and Bank lending. J Financ Econ 136(1):189–218. https://doi.org/10.1016/j.jfineco.2019.09.007CrossRef

Coles J, Daniel N, Naveen L (2006) Managerial incentives and risk-taking. J Financ Econ 79(2):431–468. https://doi.org/10.1016/j.jfineco.2004.09.004CrossRef

DeYoung R, Peng E, Yan M (2013) Executive compensation and business policy choices at U.S. commercial banks. J Financial Quant Analysis 48(1):165–196CrossRef

Elsinger H, Lehar A, Summer M (2006) Risk Assessment for Banking Systems. Manag Sci 52(9):iv–1456. https://doi.org/10.1287/mnsc.1060.0531CrossRef

Erkens D, Hung M, Matos P (2012) Corporate governance in the recent financial crisis: evidence from financial institutions worldwide. J Corp Finan 18(2):389–411. https://doi.org/10.1016/j.jcorpfin.2012.01.005CrossRef

Fahlenbrach R, Stulz R (2011) Bank CEO incentives and the credit crisis. J Financ Econ 99(1):11–26. https://doi.org/10.1016/j.jfineco.2010.08.010CrossRef

Faulkender M, Kadyrzhanova D, Prabhala N, Senbet L (2010) Executive compensation: an overview of research on corporate practices and proposed reforms. J Appl Corp Finance 22:107–118. https://doi.org/10.1111/j.1745-6622.2010.00266.xCrossRef

Federal Deposit Insurance Corporation (2003) FDIC Launches New Center for Financial Research. fdic.gov/news/press-releases/2003/pr11303.html

Gropp R, Mosk T, Ongena S, Wix C (2019) Bank response to higher capital requirements: evidence from a quasi-natural experiment. Rev Financ Stud 32(1):266–299. https://doi.org/10.1093/rfs/hhy052CrossRef

Hett F, Schmidt A (2017) Bank rescues and bailout expectations: the Erosion of market discipline during the financial crisis. J Financ Econ 126(3):635–651. https://doi.org/10.1016/j.jfineco.2017.10.003CrossRef

Iannotta G, Pennacchi G, Santos J (2018) Ratings-based regulation and systematic risk incentives. Rev Financ Stud 32(4):1374–1415. https://doi.org/10.1093/rfs/hhy091CrossRef

Puri M, Rocholl J, Steffen S (2011) Global retail lending in the aftermath of the U.S. financial crisis: distinguishing between supply and demand effects. J Financ Econ 100 (3):556–578. https://doi.org/10.1016/j.jfineco.2010.12.001

Srivastav A, Armitage S, Hagendorff J, King T (2018) Better safe than sorry? CEO inside debt and risk-taking in Bank acquisitions. J Financ Stab 36:208–224. https://doi.org/10.1016/j.jfs.2018.04.005CrossRef

Thanassoulis J (2012) The case for intervening in Bankers' pay. J Financ 67(3):849–895. https://doi.org/10.1111/j.1540-6261.2012.01736.xCrossRef

Tzioumisa K, Geeb M (2013) Nonlinear incentives and mortgage officers’ decisions. J Financ Econ 107(2):436–453. https://doi.org/10.1016/j.jfineco.2012.08.014CrossRef

Vallascas F, Hagendorff J (2013) CEO Bonus compensation and Bank default risk: evidence from the U.S. and Europe. J Financ Markets Instit Instrum 22(2):47–49. https://doi.org/10.1111/fmii.12004CrossRef

Titel: Retrospective on Twenty Years of the FDIC-JFSR Bank Research Conference
verfasst von: Haelim Anderson
Michael Carabello
Troy Kravitz
Publikationsdatum: 19.01.2022
Verlag: Springer US
Erschienen in: Journal of Financial Services Research / Ausgabe 1/2022
Print ISSN: 0920-8550
Elektronische ISSN: 1573-0735
DOI: https://doi.org/10.1007/s10693-021-00374-9

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