摘要This paper tests the hypothesis that low interest rates are likely to exacerbate banks’ risk-taking behavior by examining approximately 6000 annual observations in the United States over the period of 2001-2015 I find mixed results Inconsistent with this hypothesis I find that banks’ risk assets rise with short-term rate long-term rate and central bank rate However I find opposite results when I measure the level of banks’ risk-taking by non-performing loans In addition I find that heterogeneous risk-taking behavior is likely to result from differential bank characteristics Specifically less efficient banks tend to take on higher risk than more efficient counterparts
|獎項日期||2016 六月 15|
|監督員||Ping-Hsun Huang (Supervisor)|
Do banks take excessive risks?
毓文, 張. (Author). 2016 六月 15
學生論文: Master's Thesis