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| Tekijä: | Nash, R. Sinkey, J. Jr. |
| Otsikko: | On competition, risk, and hidden assets in the market for bank credit cards |
| Lehti: | Journal of Banking and Finance
1997 : JAN, VOL. 21:1, p. 89-112 |
| Asiasana: | FINANCE BANKING RISK |
| Kieli: | eng |
| Tiivistelmä: | The market for credit cards has been the subject of recent attention and controversy because of "high" profits earned on credit cards and substantial premiums on the resale of credit-card receivables. This paper estimates risk-return profiles for credit-card banks and explores the role of intangible assets in determining resale premiums on credit-card receivables. In addition, the effects on the resale market of securitization and the opportunity cost of acquiring new accounts are analyzed. |
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