Politically connected lending, government capital injection, and bank performance
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 )