haku: @author Kwast, M. L. / yhteensä: 2
viite: 1 / 2
« edellinen | seuraava »
| Tekijä: | Nicolo, G. De Kwast, M. L. |
| Otsikko: | Systemic risk and financial consolidation: Are they related? |
| Lehti: | Journal of Banking and Finance
2002 : MAY, VOL. 26:5, p. 861-880 |
| Asiasana: | BANKS BANKING RISK RISK ANALYSIS |
| Kieli: | eng |
| Tiivistelmä: | The creation of a number of very large and sometimes increasingly complex financial institutions, resulting in part from the on-going consolidation of the financial system, has raised concerns that the degree of systemic risk in the financial system may have increased. The authors argue that firm inter-dependencies, as measured by correlations of stock returns, provide an indicator of systemic risk potential. The authors analyze the dynamics of the stock return correlations of a sample of US large and complex banking organizations (LCBOs) over 1988- 1999, and find a significant positive trend in stock return correlations. This finding is consistent with the view that the systemic risk potential in the financial sector appears to have increased over the last decade. |
« edellinen | seuraava »
SCIMA