| Banking market structure, liquidity needs, and industrial growth volatility | |
|---|---|
| 學年 | 102 |
| 學期 | 2 |
| 出版（發表）日期 | 2014-03-01 |
| 作品名稱 | Banking market structure, liquidity needs, and industrial growth volatility |
| 作品名稱（其他語言） | |
| 著者 | Huang, Ho-Chuan (River); Fang, WenShwo; Miller, Stephen M. |
| 單位 | 淡江大學財務金融學系 |
| 出版者 | Amsterdam: Elsevier BV * North-Holland |
| 著錄名稱、卷期、頁數 | Journal of Empirical Finance 26, p.1-12 |
| 摘要 | While the existing literature acknowledges the effect of banking structure on industrial growth as well as the effect of financial development on industrial growth and its volatility, we examine whether banking structure, given financial development, exerts any nontrivial effect on industrial growth volatility. We show that bank concentration magnifies industrial growth volatility, but reduces the volatility in sectors with higher external liquidity needs. The reduction in industrial growth volatility mostly reflects the smoothing in the volatility of real value added per firm growth. A variety of sensitivity checks show that our findings remain for different model specifications, banking market structure measures, liquidity need indicators, and omitted variables. |
| 關鍵字 | Bank concentration;External liquidity;Financial development;Industrial growth volatility |
| 語言 | en_US |
| ISSN | 0927-5398 |
| 期刊性質 | 國外 |
| 收錄於 | SSCI |
| 產學合作 | |
| 通訊作者 | Miller, Stephen M. |
| 審稿制度 | 是 |
| 國別 | NLD |
| 公開徵稿 | |
| 出版型式 | ,紙本 |
| 相關連結 |
機構典藏連結 ( http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/96206 ) |
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