Эксоцман
на главную поиск contacts

Internal Capital Markets in Financial Conglomerates: Evidence from Small Bank Responses to Monetary Policy

Опубликовано на портале: 05-06-2006
Journal of Finance. 2002.  Vol. 57. No. 6. P. 2773-2805. 
This paper looks at internal capital markets in financial conglomerates by comparing the responses of small subsidiary and independent banks to monetary policy. I find that internal capital markets in financial conglomerates relax the credit constraints faced by smaller bank affiliates. Further analysis indicates that those markets lessen the impact of Fed policies on bank lending activity. The paper also examines the role of internal capital markets in influencing the investment allocation process of those conglomerates. My findings suggest that frictions between conglomerate headquarters and external capital markets are at the root of investment inefficiencies generated by internal capital markets.

Ссылки
http://web14.epnet.com/citation.asp?tb=1&_ug=sid+CD5E5331%2DA234%2D4908%2D8722%2DA26C51FF509E%40sessionmgr3+dbs+aph%2Cbth%2Cf5h+cp+1+341B&_us=sel+False+sl+%2D1+hd+False+hs+False+or+Date+fh+False+ss+SO+sm+ES+mdbs+aph%2Cbth%2Cf5h+ri+KAAACBWB00049061+dstb+ES+mh+1+frn+1+E192&_usd=0000&_uso=tg%5B2+%2D+tg%5B1+%2D+tg%5B0+%2DTI+db%5B2+%2Df5h+db%5B1+%2Dbth+db%5B0+%2Daph+hd+False+clv%5B1+%2DY+clv%5B0+%2DY+op%5B2+%2DAnd+op%5B1+%2DAnd+op%5B0+%2D+cli%5B1+%2DRV+cli%5B0+%2DFT+st%5B2+%2D+st%5B1+%2D+st%5B0+%2Dinternal++capital++market+0CB0&fn=1&rn=6
BiBTeX
RIS
Ключевые слова

См. также:
Олег Олегович Бобрышев
Внешнеэкономические связи. 2006.  Т. 21. № 1. С. 32-35. 
[Статья]
Светлана Владимировна Орехова
Journal of Institutional Studies (Журнал институциональных исследований). 2016.  Т. 8. № 4. С. 106-122. 
[Статья]
Balas Vedres, David Stark
Российский журнал менеджмента. 2005.  Т. 3. № 3. С. 43-80. 
[Статья]
Ю.В. Кривцова
Экономические науки. 2011.  № 1. С. 324-327. 
[Статья]
Meir Statman
Journal of Financial and Quantitative Analysis. 1987.  Vol. 22. No. 3. P. 353-363. 
[Статья]
James H. Lorie, Leonard J. Savage
Journal of Business. 1955.  Vol. 28. No. 4. P. 229-239. 
[Статья]