| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w23755 |
| 来源ID | Working Paper 23755 |
| The Complexity of Bank Holding Companies: A Topological Approach | |
| Mark D. Flood; Dror Y. Kenett; Robin L. Lumsdaine; Jonathan K. Simon | |
| 发表日期 | 2017-09-04 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | Large bank holding companies (BHCs) are structured into intricate ownership hierarchies involving hundreds or even thousands of legal entities. Each subsidiary in these hierarchies has its own legal form, assets, liabilities, managerial goals, and supervisory authorities. In the event of BHC default or insolvency, regulators may need to resolve the BHC and its constituent entities. Each entity individually will require some mix of cash infusion, outside purchase, consolidation with other subsidiaries, legal guarantees, and outright dissolution. The subsidiaries are not resolved in isolation, of course, but in the context of resolving the consolidated BHC at the top of the hierarchy. The number, diversity, and distribution of subsidiaries within the hierarchy can therefore significantly ease or complicate the resolution process. We propose a set of related metrics intended to assess the complexity of the BHC ownership graph. These proposed metrics focus on the graph quotient relative to certain well identified partitions on the set of subsidiaries, such as charter type and regulatory jurisdiction. The intended measures are mathematically grounded, intuitively sensible, and easy to implement. We illustrate the process with a case study of one large U.S. BHC. |
| 主题 | Econometrics ; Data Collection ; Microeconomics ; Economics of Information ; Financial Economics ; Financial Institutions ; Corporate Finance ; Industrial Organization ; Firm Behavior |
| URL | https://www.nber.org/papers/w23755 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/581429 |
| 推荐引用方式 GB/T 7714 | Mark D. Flood,Dror Y. Kenett,Robin L. Lumsdaine,et al. The Complexity of Bank Holding Companies: A Topological Approach. 2017. |
| 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 | ||
| w23755.pdf（3501KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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