多德-弗兰克法案》之后银行控股公司的贷款和风险控制

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2023-11-02 DOI:10.1111/jfir.12363

Marta Degl'Innocenti, Si Zhou, Yue Zhou

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引用次数: 0

摘要

我们研究了《多德-弗兰克法案》（DFA）对复杂银行控股公司（BHC）信用风险行为的影响。具体而言，我们评估了《多德-弗兰克法案》在降低复杂银行信贷风险方面的有效性。与道德风险假说一致，我们发现受 DFA 影响的复杂银行控股公司会增加其信贷风险。我们认为，可能的解释是，在 DFA 之后，银行控股公司降低了贷款组合质量、贷款监控以及风险管理职能的强度和独立性。这些结果对于内生性问题、不同的样本选择标准、各种模型和处理规范以及安慰剂测试都是稳健的。

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Lending and risk controls for BHCs after the Dodd–Frank act

We investigate the impact of the Dodd–Frank Act (DFA) on the credit risk behavior of complex bank holding companies (BHCs). Specifically, we assess the effectiveness of the DFA in reducing the credit riskiness of complex banks. Consistent with the moral hazard hypothesis, we find that complex BHCs affected by the DFA increase their credit risk. We argue that possible explanations are that BHCs decreased their lending portfolio quality, loan monitoring, and strength and independence of the risk management function after the DFA. The results are robust to endogeneity concerns, different sample selection criteria, various model and treatment specifications, and placebo tests.

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来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.