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    Please use this identifier to cite or link to this item: http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/60054

    Title: A note on selling distressed loans with bank bailouts: modelling of bank interest margins with default probabilities
    Authors: Lin, Jyh-horng;Lin, Jyh-jiuan;Chang, Ching-hui
    Contributors: 淡江大學國際企業學系
    Keywords: Bank bailout;Interest margin;Default probability;Distressed loan
    Date: 2012
    Issue Date: 2011-10-07 13:28:58 (UTC+8)
    Publisher: Abingdon: Routledge
    Abstract: This article extends the framework of Merton (1974) with Vassalou and Xing (2004) to value a troubled but solvent bank's equity by explicitly incorporating distressed assets purchased by the government in an imperfectly competitive loan market. We show that the bank may be willing to take this bailout when the purchased amount is relatively small and the margin is relatively low. However, the bank may be harder to entice even when the unit price of the bailed-out assets subsidized by the government is relatively high. As a consequence, most of the first half of the Troubled Asset Relief Program's money is not used to buy troubled assets (Wilson, 2010).
    Relation: Applied Economics Letters 19(7), pp.623-627
    DOI: 10.1080/13504851.2011.591724
    Appears in Collections:[國際企業學系暨研究所] 期刊論文

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