| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w28751 |
| 来源ID | Working Paper 28751 |
| Private Equity and Financial Stability: Evidence from Failed Bank Resolution in the Crisis | |
| Emily Johnston-Ross; Song Ma; Manju Puri | |
| 发表日期 | 2021-05-10 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | This paper investigates the role of private equity (PE) in failed bank resolutions after the 2008 financial crisis, using proprietary FDIC failed bank acquisition data. PE investors made substantial investments in underperforming and riskier failed banks, particularly in geographies where local banks were also distressed, filling the gap created by a weak, undercapitalized banking sector. Using a quasi-random empirical design based on detailed bidding information, we show PE-acquired banks performed better ex post, with positive real effects for the local economy. Overall, PE investors had a positive role in stabilizing the financial system through their involvement in failed bank resolution. |
| 主题 | Macroeconomics ; Fiscal Policy ; Financial Economics ; Financial Markets ; Financial Institutions |
| URL | https://www.nber.org/papers/w28751 |
| 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/586425 |
| 推荐引用方式 GB/T 7714 | Emily Johnston-Ross,Song Ma,Manju Puri. Private Equity and Financial Stability: Evidence from Failed Bank Resolution in the Crisis. 2021. |
| 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 | ||
| w28751.pdf（647KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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