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:Politically connected lending, government capital injection, and bank performance
學年105
學期1
出版(發表)日期2017/01/01
作品名稱Politically connected lending, government capital injection, and bank performance
作品名稱(其他語言)
著者Jou, Rosemary; Chen, Shi; Tsai, Jeng-Yan
單位
出版者
著錄名稱、卷期、頁數International Review of Economics and Finance 47, p.220-232
摘要This paper takes a contingent claim approach to evaluate the equity and risk of a bank. The paper investigates how government capital injection affects the bank's lending and equity risk, and how these effects vary across remaining privately owned and becoming government-owned. In particular, we argue that the strength of government ownership is useful in disciplining management of preferential access to debt financing for politically connected borrowing firms. It is shown that government capital injection leads to superior performance and greater safety for the bank remaining privately owned. The advantage of large capital is likely to be more pronounced to equity return, but less to safety for the government-owned bank. Moreover, political connection reinforces the increased return performance and safety. Government capital injection as such makes the bank less prone to risk-taking, thereby affecting the stability of the banking system.
關鍵字Government capital injection;Ownership structure;Political connection;Barrier option
語言英文
ISSN1059-0560
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
國別荷蘭
公開徵稿
出版型式,紙本
相關連結
Google+ 推薦功能,讓全世界都能看到您的推薦!