The Effect of Nonbank Diversification on Bank Holding Company Risk
Examines the effect of activity diversification on bank holding company (BHC) risk. Historical background of the BHC; Presentation of the research design and test results; Predictions of the modern portfolio theory; Implications of the study regarding the effect of nonbank diversification on BHC risk.
Templeton, William K. and Jacobus T. Severiens, "The Effect of Nonbank Diversification on Bank Holding Company Risk," Quarterly Journal of Business and Economics, (Autumn 1992), pp. 3-17.