期刊論文
| 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 | en |
| ISSN | 1059-0560 |
| 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 | 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/987654321/110034 ) |