Vassar College Digital Library

Vassar Scholarship

Vassar Scholarship, the institutional repository formerly known as Digital Window, reflects the research and scholarly output of the Vassar College community.  It provides access to a variety of collections, including senior theses and projects across a wide range of disciplines.

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Vassar Scholarship

Share-price reaction to supervisory goodwill litigation: The Cal Fed case

Publication Date
2000-February-01
Document Type
working paper
Authors
Smith, John Z., Jr.
Department or Program
Economics Department
Document Type
Working Paper
Abstract

More than 100 savings and loans are currently involved in supervisory goodwill litigation against the federal government, with total claims approach fifty billion dollars. These claims arise from a provision in the 1989 Financial Institutions Reform Recovery and Enforcement Act...

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Vassar Scholarship

Wealth effects of supervisory goodwill litigation: A portfolio approach

Publication Date
2000-March-18
Document Type
working paper
Authors
Smith, John Z., Jr.
Beauregard, Joshua M.
Department or Program
Economics Department
Document Type
Working Paper
Abstract

Using a unique set of publicly-traded litigation certificates, we measure the wealth effects of (largely) unanticipated damage awards in the ongoing supervisory goodwill litigation between thrifts and the federal government. Estimating abnormal returns for portfolios of litigation certificates and retained...

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