A note on selling distressed loans with bank bailouts: modelling of bank interest margins with default probabilities

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題名:	A note on selling distressed loans with bank bailouts: modelling of bank interest margins with default probabilities
作者:	Lin, Jyh-horng;Lin, Jyh-jiuan;Chang, Ching-hui
貢獻者:	淡江大學國際企業學系
關鍵詞:	Bank bailout;Interest margin;Default probability;Distressed loan
日期:	2012
上傳時間:	2011-10-07 13:28:58 (UTC+8)
出版者:	Abingdon: Routledge
摘要:	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).
關聯:	Applied Economics Letters 19(7), pp.623-627
DOI:	10.1080/13504851.2011.591724
顯示於類別:	[國際企業學系暨研究所] 期刊論文

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