A Q-Theory of Banks
收藏NBER2020-10-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w27935
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资源简介：
We introduce a dynamic bank theory featuring delayed loss recognition and a regulatory capital constraint, aiming to match the bank leverage dynamics captured by Tobins Q. We start from four facts: (1) book and market equity values diverge, especially during crises; (2) Tobins Q predicts future bank
提供机构：
美国国家经济研究局
创建时间：
2020-10-01
