登入
選單
返回
Google圖書搜尋
Spoilt and Lazy
Blaise Gadanecz
其他書名
The Impact of State Support on Bank Behaviour in the International Loan Market
出版
SSRN
, 2008
URL
http://books.google.com.hk/books?id=BMPBzgEACAAJ&hl=&source=gbs_api
註釋
Banks that enjoy generous financial support (typically from the public sector) tend to be associated with risk under-pricing and lack of innovation in the international syndicated loan market. Loans arranged by such banks have on average lower spreads (controlling for risk and other characteristics) and supported banks also retain loan portfolios that are on average priced below market. When supported banks' investment strategy differs materially from that of the average bank it is in holding less specialised portfolios, in aligning more closely with market trends, and in exhibiting lower persistence in their sectoral allocations.
