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How Does Competition Impact Bank Risk-taking?

Gabriel JiménezJosé A. LópezJesús Saurina

出版	Banco de España, 2010
URL	http://books.google.com.hk/books?id=xfSgXwAACAAJ&hl=&source=gbs_api

註釋

A common assumption in the academic literature is that franchise value plays a key role in limiting bank risk-taking. As market power is the primary source of franchise value, reduced competition in banking markets has been seen as promoting banking stability. We test this hypothesis using data for the Spanish banking system. We find that standard measures of market concentration do not affect bank risk-taking. However, we find a negative relationship between market power measured using Lerner indexes based on bank-specific interest rates and bank risk. Our results support the franchise value paradigm. [Resumen de autor]