| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP11625 |
| DP11625 No Smoking Gun: Private Shareholders, Governance Rules and Central Bank Financial Behavior | |
| Beatrice Weder di Mauro; Bernhard Bartels | |
| 发表日期 | 2016-11-11 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | Do central banks with private shareholders differ in their financial behavior from purely public central banks? Private shareholders might bias central banks toward focusing excessively on profits, dividends and risks to their balance sheets, but their influence may also be mitigated by governance rules. We study 35 OECD central banks, including eight with private shareholders, using new data on governance rules. We find that central banks with private shareholders do not differ from their purely public counterparts in their profitability, nor are they more financially cautious in the sense of building more loss-absorbing capacity. Surprisingly, their transfers to governments out of current profits tend to be higher, not lower. We find that broader governance rules matter for financial payouts. |
| 主题 | International Macroeconomics and Finance |
| 关键词 | Central bank governance Private sharehoders |
| URL | https://cepr.org/publications/dp11625 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/540439 |
| 推荐引用方式 GB/T 7714 | Beatrice Weder di Mauro,Bernhard Bartels. DP11625 No Smoking Gun: Private Shareholders, Governance Rules and Central Bank Financial Behavior. 2016. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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