Pitfalls in Using Market Prices to Assess the Financial Condition of Depository Institutions

James Barth, Daniel E Page and Brumbaugh, R Dan,

The Journal of Real Estate Finance and Economics, 1992, vol. 5, issue 2, 66 pages

Abstract: In this article the authors examine the information that stock prices provide about the financial condition of federally insured thrift institutions. In order to assess their financial condition from the different perspectives of stockholders and the federal insurer, they calculate the value of the put option of federal deposit insurance available to thrift institutions. Their results demonstrate that the two perspectives often provide, particularly for unhealthy institutions, quite different views of the financial condition of individual institutions. Copyright 1992 by Kluwer Academic Publishers

Date: 1992
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