摘要：Prior research suggests that shareholder limitations under Subchapter S (Sub-S) status enhance performance but result
in slow growth. A sample of up to 882 de novo banks, started between 2001 and 2014 and lasting at least two years,
is used to test how early the performance and growth effects appear. Testing uses cross-sectional regressions for
performance and growth separately for two years, then three, and so forth up to seven years after bank start-up.
During this period, positive performance effects appear early and tend to remain, while negative growth effects tend to
be both weaker and appear later in the life-cycle of the bank.
