The objective function of government-controlled banks in a financial crisis

研究成果: Article査読

15 被引用数 (Scopus)

抄録

We present evidence that government-controlled banks (GCBs) significantly increased their lending to small and medium-sized enterprises (SMEs) whose main bank was a large bank in the 2008–09 financial crisis. Further analyses show that the weak relationship between large banks and SMEs is a major cause for this phenomenon. The mixed Cournot oligopoly model with relationship banking, where profit-maximizing private banks and a welfare-maximizing GCB coexist, shows that this finding is consistent with the welfare maximization by a GCB rather than its own profit maximization.

本文言語English
ページ(範囲)78-93
ページ数16
ジャーナルJournal of Banking and Finance
89
DOI
出版ステータスPublished - 2018 4

ASJC Scopus subject areas

  • 財務
  • 経済学、計量経済学

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