Risk and regulation: An empirical test of the relationship |
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| Authors: | W.P. Hogan I.G. Sharpe P.A. Volker |
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| Affiliation: | University of Sydney, Sydney, N.S.W. 2006, Australia;University of Newcastle, Newcastle, N.S.W. 2308, Australia;Australian National University, Canberra, A.C.T. 2600, Australia |
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| Abstract: | The relationship of the variance of rates of return and estimates of systematic risk to the nature of the regulatory paradigm is examined for Bank Holding Companies in Australia. Strong evidence is found to support the hypothesis that shareholder risk is negatively related to the intensity of regulation. |
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