Financing as a Supply Chain: The Capital Structure of Banks and Borrowers
收藏NBER2013-11-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w19633
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资源简介：
We develop a model of the joint capital structure decisions of banks and their borrowers. Strikingly high bank leverage emerges naturally from the interplay between two sets of forces. First, seniority and diversification reduce bank asset volatility by an order of magnitude relative to that of
提供机构：
美国国家经济研究局
创建时间：
2013-11-01
