教師資料查詢 | 類別: 期刊論文 | 教師: 蔡政言 Tsai Jeng-yan (瀏覽個人網頁)

標題:How does equity capital cost affect bank performance during a financial crisis?
學年103
學期2
出版(發表)日期2015/04/16
作品名稱How does equity capital cost affect bank performance during a financial crisis?
作品名稱(其他語言)
著者Tsai, Jeng-Yan; Chen, Shi
單位
出版者
著錄名稱、卷期、頁數Applied Economics 47(42), pp.4459-4474
摘要This article theoretically examines how equity capital cost affects return performance and safety of a bank and how this effect varies across a financial crisis comparing to a normal time when the bank manager’s performance reveals the like of higher equity return and the dislike of higher equity risk. We derive two main results. First, an increase in the bank’s equity capital cost from an increase of the interest rate of the Federal funds results in a reduced loan risk-taking at an increased optimal bank interest margin, implying better bank performance. Second, by ignoring the dislike, we find that the better performance is reinforced during a financial crisis but is reduced during a normal time. Financial crises and the dislike preference as such contribute a relatively low return and the stability of banking activities.
關鍵字bank interest margin;equity capital cost;barrier;utility maximization
語言英文
ISSN0003-6846;1466-4283
期刊性質國外
收錄於SSCI;
產學合作
通訊作者Tsai, Jeng-Yan
審稿制度
國別英國
公開徵稿
出版型式,電子版,紙本
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