haku: @author Mester, L. / yhteensä: 4
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| Tekijä: | Hughes, J. Mester, L. |
| Otsikko: | Bank capitalization and cost: evidence of scale economies in risk management and signaling |
| Lehti: | Review of Economics and Statistics
1998 : MAY, VOL. 80:2, p. 314-325 |
| Asiasana: | RISK MANAGEMENT BANKING |
| Kieli: | eng |
| Tiivistelmä: | The authors amend the standard cost model to account for the role of financial capital in banking. The cost function is conditioned on the level of capital, but the authors model the demand for financial capital so that it can serve as a cushion against insolvency for potentially risk-averse managers and as a signal of risk for less informed outsiders. Scale economies are then computed without assuming that the bank chooses a level of capitalization that minimizes cost. |
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