منابع مشابه
Banking Competition, Capital Accumulation, and Monetary Policy
In recent years, the increased concentration of activity in the banking system has received much attention. This paper studies the implications of concentration in the banking sector for economic activity. Changes in the competitive structure affect investment, risk-sharing, and social welfare. A key aspect of our analysis is that banks in more concentrated systems allocate a lot of resources t...
متن کاملBank Capital Ratios, Competition and Loan Spreads
This paper empirically investigates whether or not banks charge higher loan spreads for having high capital ratios by using a dataset of all syndicated loans issued by public nonfinancial U.S. borrowers during the 1993 to 2007 period. We find convincing evidence that well-capitalized banks can indeed charge a ’spread premium’. We further investigate whether this result can be explained by banks...
متن کاملState Capacity, Capital Mobility, and Tax Competition
Abstract The theory of international tax competition suggests that governments attempt to attract mobile capital bases by undercutting the foreign capital tax rate. An analysis of the role that state capacity plays in tax policymaking under international pressures is, however, missing. The central contribution of our study is to highlight the importance of the interaction between state capaci...
متن کاملOligopoly Banking and Capital Accumulation∗
We develop a dynamic general equilibrium model of capital accumulation where credit is intermediated by banks operating in a Cournot oligopoly. The number of banks affects capital accumulation through two channels. First, it affects the quantity of credit available to entrepreneurs. Second, it affects banks’ decisions to collect costly information about entrepreneurs, and thus determines the ef...
متن کاملCapital Structure and Competition in the Banking Industry: Theory and Empirics
This paper incorporates the observation that in banking industries, debts are usually affected by current return and cannot be predetermined before competition. In a portfolio choice model, we have analyzed how two banks sequentially decide their capital structures through choosing equity levels, and then the levels of risky investment which is subject to the rival’s competition. Taking equity ...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: European Financial Management
سال: 2010
ISSN: 1354-7798
DOI: 10.1111/j.1468-036x.2010.00551.x