作者：Fahlenbrach, Rudiger; Prilmeier, Robert; Stulz, Rene M.
作者单位：Swiss Finance Institute (SFI); Swiss Federal Institutes of Technology Domain; Ecole Polytechnique Federale de Lausanne; Tulane University; University System of Ohio; Ohio State University; National Bureau of Economic Research
摘要：From 1973 to 2014, the common stock of U.S. banks with loan growth in the top quartile of banks over a three-year period significantly underperformed the common stock of banks with loan growth in the bottom quartile over the next three years. After the period of high growth, these banks have a lower return on assets and increase their loan loss reserves. The poorer performance of fast-growing banks is not explained by merger activity. The evidence is consistent with banks, analysts, and invest...
作者：Breuer, Matthias; Hombach, Katharina; Muller, Maximilian A.
