Steven Dennis
Debarshi Nandy
Lan G Sharpe -
Dennis, College of Business, Baull State University, Muncie, IN47306; Nandy and Sharpe, School of Banking and Finance, University of New South Wales, Sydney, NSW 2052 Australia. An earlier version of this paper was presented at the Australian Graduate School of Business, Monash University at Clayton, University of Technology-Sydney, The University of New England, The University of Western Australia, the 1998 AAANZ Conference, the 1998 FMA Meetings in Chincago, and the Banking Research Study Group at the University of New South Wales. The authors would like to thank participants at these presentations and Neil Esho, Mark Flannery, Benton Gup, Warren Hogan, paul Kofman, Kerry Pattenden, Jian-Xin Wang, Jonathan Karpoff (the editor), and Elazar Berkovitch (the referee) for their helpful comments. The financial support of the Australain Research Council is also recognized