کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
974020 | 1479790 | 2013 | 17 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Financial fragility, uninsured deposits, and the cost of debt
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موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
Using annual data from 1995 to 2009, I analyze the impact of banks’ financial fragility on the costs of U.S. corporate bank loans. Diamond and Rajan (2001) hypothesize that financially fragile banks are able to raise funds at a lower cost and competition among banks result in some of these benefits being passed on to borrowers. My results provide broad support for this hypothesis, as I find that a one standard deviation increase in a bank's financial fragility lowers the cost of this bank's corporate loans by 7%. Since some types of regulation, such as deposit insurance, can decrease banks’ financial fragility, this paper also contributes to the debate on the benefits and costs of bank regulation which can be helpful for policy-making.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: The North American Journal of Economics and Finance - Volume 24, January 2013, Pages 159–175
Journal: The North American Journal of Economics and Finance - Volume 24, January 2013, Pages 159–175
نویسندگان
Margot Quijano,