کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
980379 1480455 2012 7 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
An empirical analysis of the relation between bank charter value and risk taking
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
An empirical analysis of the relation between bank charter value and risk taking
چکیده انگلیسی

This paper examines the relation between bank charter value and risk taking. Using a sample of U.S. banks over the period 1990–2006, we find that the relation is U-shaped: as charter value increases, risk taking first decreases and then increases. This finding is robust across alternative measures of risk taking and an estimation method that accounts for the joint determination of charter value and risk taking.


► This paper examines the relation between bank charter value and risk taking.
► Five measures of risk taking are employed: total risk, systematic risk, firm specific risk, the ratio of nonperforming loans to total loans, and Z-score.
► The two-step system GMM estimator is used.
► A U-shaped relation between charter value and risk taking is obtained.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: The Quarterly Review of Economics and Finance - Volume 52, Issue 3, August 2012, Pages 298–304
نویسندگان
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