| 来源类型 | FEEM working papers "Note di lavoro" series |
| 规范类型 | 论文 |
| On the Real Effects of Bank Bailouts: Micro-Evidence from Japan | |
| Mariassunta Giannetti; Andrei Simonov | |
| 发表日期 | 2009 |
| 出处 | Economy and Society |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | Exploiting the Japanese banking crisis as a laboratory, we provide firm-level evidence on the real effects of bank bailouts. Government recapitalizations result in positive abnormal returns for the clients of recapitalized banks. After recapitalizations, banks extend larger loans to their clients and some firms increase investment, but do not create more jobs than comparable firms. Most importantly, recapitalizations allow banks to extend larger loans to low and high quality firms alike, and low quality firms experience higher abnormal returns than other firms. Interestingly, recapitalizations by private investors have similar effects. Moreover, bank mergers engineered to enhance bank stability appear to hurt the borrowers of the sounder banks involved in the mergers. |
| 特色分类 | G21;G34 |
| 关键词 | Recapitalization Merger Banking Crisis |
| URL | https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/on-the-real-effects-of-bank-bailouts-micro-evidence-from-japan/ |
| 来源智库 | Fondazione Eni Enrico Mattei (Italy) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/117652 |
| 推荐引用方式 GB/T 7714 | Mariassunta Giannetti,Andrei Simonov. On the Real Effects of Bank Bailouts: Micro-Evidence from Japan. 2009. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| 20091119125051Nota_d（71KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
| 200911191250294103-0（326KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
| 文件名： | 20091119125051Nota_di_Lavoro.jpg |
| 格式： | JPEG |
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