Liberalization and Risk-Taking: Evidence from Government-Controlled Banks
Metadades
Mostra el registre complet de l'elementcomunitat-uji-handle:10234/9
comunitat-uji-handle2:10234/8648
comunitat-uji-handle3:10234/8649
comunitat-uji-handle4:
INVESTIGACIONAquest recurs és restringit
http://dx.doi.org/10.1093/rof/rft023 |
Metadades
Títol
Liberalization and Risk-Taking: Evidence from Government-Controlled BanksData de publicació
2014-07Editor
Oxford University PressISSN
1572-3097Cita bibliogràfica
Manuel Illueca, Lars Norden, and Gregory F. Udell Liberalization and Risk-Taking: Evidence from Government-Controlled Banks Review of Finance (2014) 18 (4): 1217-1257Tipus de document
info:eu-repo/semantics/articleVersió de l'editorial
http://rof.oxfordjournals.org/content/18/4/1217Versió
info:eu-repo/semantics/publishedVersionResum
We study the effects of the interplay between deregulation and governance on risk-taking in the financial industry. We consider the removal of regulatory geographic constraints for savings banks in Spain, the cajas, ... [+]
We study the effects of the interplay between deregulation and governance on risk-taking in the financial industry. We consider the removal of regulatory geographic constraints for savings banks in Spain, the cajas, which led to a nationwide expansion of these banks during the past two decades. Based on a unique dataset that combines information on the geographic distribution of bank lending, matched lender-borrower financial statements, and borrower defaults, we find that the governance of the savings banks significantly affects the way in which they expand their lending activities. Savings banks that are subject to political influence by regional governments exhibit higher ex ante risk-taking and higher ex post loan defaults. Our study highlights the broader implications of the impact of global deregulation and consolidation and their interaction with governance issues. [-]
Publicat a
Review of Finance, 18 (4)Drets d'accés
© The Authors 2013. Published by Oxford University Press [on behalf of the European Finance Association]. All rights reserved.
http://rightsstatements.org/vocab/InC/1.0/
info:eu-repo/semantics/restrictedAccess
http://rightsstatements.org/vocab/InC/1.0/
info:eu-repo/semantics/restrictedAccess
Apareix a les col.leccions
- COFIN_Articles [213]