教師資料查詢 | 類別: 期刊論文 | 教師: 林志鴻 Jyh-horng Lin (瀏覽個人網頁)

標題:Regulatory policies on Gramm-Leach-Bliley consolidation of commercial banking, shadow banking, and life insurance
學年106
學期1
出版(發表)日期2017/09/14
作品名稱Regulatory policies on Gramm-Leach-Bliley consolidation of commercial banking, shadow banking, and life insurance
作品名稱(其他語言)
著者Jyh-Horng Lin; Xuelian Li
單位
出版者
著錄名稱、卷期、頁數J. Int. Financ. Markets Inst. Money 50, p.69-84
摘要This paper takes a contingent claim approach to the market valuation of equity and default risk in a financial services holding company eligible to consolidate commercial banking, shadow banking and life insurance under the Gramm-Leach-Bliley Act (GLBA) of 1999. We find a case where the GLBA consolidation destroys value captured by scope disequities. Four main results are demonstrated. First, bank capital requirement enhances a likelihood of bankruptcy and destroys value for the consolidated bank. Second, an increase in the regulatory guaranteed interest rate of the life insurance policy increases the default risk and decreases value for the consolidated bank. Third, on the contrary, the regulatory participation rate enhances the survival probability and value for the consolidated bank. Finally, our findings sound a cautionary note to adoption of regulatory mechanisms that may discourage functional consolidation of the GLBA.
關鍵字Scope equities;Shadow-banking entrusted loan;GLBA
語言英文
ISSN1042-4431
期刊性質國外
收錄於SSCI;
產學合作
通訊作者
審稿制度
國別荷蘭
公開徵稿
出版型式,電子版
相關連結
Google+ 推薦功能,讓全世界都能看到您的推薦!