1995 Working Paper Series

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#95-01
The Role of Capital in Financial Institutions
Allen N. Berger, Richard J. Herring and Giorgio P. Szegö, January 1995
This is the preprint version only. For the published version please see: "The Role of Capital in Financial Institutions." Journal of Banking and Finance. May 1995.

#95-02
Financial Markets, Intermediaries, and Intertemporal Smoothing
Franklin Allen and Douglas Gale, January 1995
This is the preprint version only. For the published version please see: "Financial Markets, Intermediaries, and Intertemporal Smoothing." Journal of Political Economy. Vol. 105 (3), pp. 523-46. June 1997.

#95-03
Performance in Consumer Financial Services Organizations: Framework and Results from the Pilot Study
Frances X. Frei, Patrick T. Harker, and Larry W. Hunter, February 1995

#95-04
How Will Competition Change Human Resource Management in Retail Banking? A Strategic Perspective
Larry W. Hunter, February 1995

#95-05-B
The Place of Risk Management in Financial Institutions
George S. Oldfield and Anthony M. Santomero, January 1997
This is the preprint version only. For the published version please see: "The Place of Risk Management in Financial Institutions." Sloan Management Review. Vol. 39 (1). Fall 1997.

#95-06
Insolvency Experience, Risk-Based Capital, and Prompt Corrective Action in Property-Liability Insurance
J. David Cummins, Scott E. Harrington and Robert Klein, February 1995
This is the preprint version only. For the published version please see: "Insolvency Experience, Risk-Based Capital, and Prompt Corrective Action in Property-Liability Insurance." Journal of Banking & Finance. Vol. 19 (3-4), pp. 511-27. June 1995.

#95-07
Banks and Derivatives
Gary Gorton and Richard Rosen, February 1995
This is the preprint version only. For the published version please see: "Banks and Derivatives." NBER Macroeconomics Annual 1996. Bernanke, Ben S. Rotemberg, Julio J., eds., Cambridge and London: MIT Press. pp. 299-339. 1995.

#95-08
The Role of the Financial Sector in Economic Performance
Richard J. Herring and Anthony M. Santomero, July 1991
This is the preprint version only. For the published version please see: "The Role of the Financial Structure in Economic Performance," a study prepared for the Center for Business and Policy Studies, SNS, and the Productivity Commission of the Kingdom of Sweden. Published in Swedish as "Finans-Sektorn och Välfärden." SNS Förlag, Stockholm, 1991.

#95-09
Corporate Control, Portfolio Choice, and the Decline of Banking
Gary Gorton and Richard Rosen, July 1994
This is the preprint version only. For the published version please see: "Corporate Control, Portfolio Choice, and the Decline of Banking." Journal of Finance. Vol. 50 (5), pp. 1377-1420. December 1995.

#95-10
Noise Trading, Delegated Portfolio Management, and Economic Welfare
James Dow and Gary Gorton, June 1994
This is the preprint version only. For the published version please see: "Noise Trading, Delegated Portfolio Management, and Economic Welfare." Journal of Political Economy. Vol. 105 (5), pp. 1024-50. October 1997.

#95-11-C
Commercial Bank Risk Management: An Analysis of the Process
Anthony M. Santomero, February 1997
This is the preprint version only. For the published version please see: "Commercial Bank Risk Management: An Analysis of the Process." Journal of Financial Services Research. Vol. 12 (2-3), pp. 83-115. October-December 1997.

#95-12
The Impact of I.T. on the Degree of Outsourcing, the Number of Suppliers, and the Duration of Contracts
Eric K. Clemons and Sashidhar P. Reddi, January 1994

#95-13
The Coexistence of Multiple Distributions Systems for Financial Services: The Case of Property-Liability Insurance
Allen N. Berger, J. David Cummins and Mary A. Weiss, March 1995
This is the preprint version only. For the published version please see: "The Coexistence of Multiple Distribution Systems for Financial Services: The Case of Property-Liability Insurance." Journal of Business. Vol. 70 (4), pp. 515-46. October 1997.

#95-14
Banking Markets: Productivity, Risk, and Customer Satisfaction
Gerald R. Faulhaber, May 1995

#95-15
Regulatory Misconceptions in Pricing Thrift Conversions: A Closer Look at the Appraisal Process
Haluk Unal, April 1995
This is the preprint version only. For the published version please see: "Regulatory Misconceptions in Pricing Thrift Conversions: A Closer Look at the Appraisal Process." Journal of Financial Services Research. Vol. 11 (3), pp. 239-54. June 1997.

#95-16
Recovering Technologies that Account for Generalized Managerial Preferences: An Application to Non-Risk-Neutral Banks
Joseph P. Hughes, William Lang, Loretta J. Mester and Choon-Geol Moon, April 1995
This is the preprint version only. For the published version please see: "Recovering Banking Technologies When Managers are Not Risk-Neutral." Proceedings of a Conference on Bank Structure and Competition. Federal Reserve Bank of Chicago. May 1995, pp. 49-68.

#95-17
Universal Banking and the Future of Small Business Lending
Allen N. Berger and Gregory F. Udell, April 1995
This is the preprint version only. For the published version please see: "Universal Banking and the Future of Small Business Lending" in Anthony Saunders and Ingo Walter, eds., Financial System Design: The Case for Universal Banking. Homewood, IL: Irwin Publishing, pp. 559-627. 1996.

#95-18
The Impact of Information Technology on the Organization of Economic Activity: The "Move to the Middle" Hypothesis
Eric K. Clemons, Sashidhar P. Reddi and Michael C. Rowe, March 1995
This is the preprint version only. For the published version please see: "The Impact of Information Technology on the Organization of Economic Activity: The 'Move to the Middle' Hypothesis." Journal of Management Information Systems. Vol. 10(2), pp. 9-36. Fall 1993.

#95-19
Probability and Statistics Applied to the Practice of Financial Risk Management: The Case of JP Morgan's RiskMetrics™
Michael Phelan, August 1995
This is the preprint version only. For the published version please see: "Probability and Statistics Applied to the Practice of Financial Risk Management: The Case of J.P. Morgan's RiskMetrics™." Journal of Financial Services Research. Vol. 12 (2-3), pp. 175-200. October-December 1997.

#95-20
Universal Banking, Intertemporal Smoothing and European Financial Integration
Franklin Allen and Douglas Gale, March 1995
This is the preprint version only. For the published version please see: "Universal Banking, Intertemporal Risk Smoothing, and European Financial Integration." Chapter 16 in Universal Banking, edited by A. Saunders and I. Walter, Chicago: Irwin Publishing, pp. 528-542. 1996.

#95-21
Stochastic Growth Prospects and Corporate Demand for Lines of Credit
J. Spencer Martin and Anthony M. Santomero, October 1995
This is the preprint version only. For the published version please see: "Investment Opportunities and Corporate Demand for Lines of Credit." Journal of Banking and Finance, Vol. 21 (10), pp. 1331-1350. October 1997.

#95-22-C
Projections onto Efficient Frontiers: Theoretical and Computational Extensions to DEA
Frances X. Frei and Patrick T. Harker, February 1998
Forthcoming, Journal of Productivity Analysis.

#95-23
The Effect of Regulatory Oversight on Internal and External Mechanisms to Change Corporate Control
Douglas O. Cook, Arthur Hogan and Robert Kieschnick, September 1995

#95-24
Wharton's FDIC Research Database
Jalal D. Akhavein, November 1995

#95-24 Appendix D, pp. 1-9

#95-24 Appendix D, pp. 10-18

#95-24 Appendix D, pp. 19-28

#95-24 Appendix D, pp. 29-37

#95-24 Supplement
Using Wharton's FDIC Research Database
Jalal D. Akhavein, April 1996