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Keywords: Moral hazard
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Journal Articles
Journal:
Managerial Finance
Managerial Finance (2004) 30 (9): 56–69.
Published: 01 September 2004
... for persistence and then attempts to identify its determinants for U.S. thrifts operating during 1989 to 1994. A moral hazard hypothesis for losing persistence is examined, as well as the effectiveness of the takeover market in disciplining persistent losers. Results indicate significant performance persistence...
