LEADER 06260oam 22015014 450 001 9910809283803321 005 20240410162252.0 010 $a1-4623-4777-0 010 $a1-4527-7939-2 010 $a1-283-45039-9 010 $a9786613823663 010 $a1-4519-1010-X 035 $a(CKB)3360000000443362 035 $a(EBL)3012548 035 $a(SSID)ssj0001323906 035 $a(PQKBManifestationID)11978484 035 $a(PQKBTitleCode)TC0001323906 035 $a(PQKBWorkID)11505603 035 $a(PQKB)10456336 035 $a(OCoLC)568151313 035 $a(MiAaPQ)EBC3012548 035 $a(IMF)WPIEE2006297 035 $a(EXLCZ)993360000000443362 100 $a20020129d2006 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aBank Risk-Taking and Competition Revisited : $eNew Theory and New Evidence /$fGianni De Nicolo, Abu M. Jalal, John Boyd 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2006. 215 $a1 online resource (51 p.) 225 1 $aIMF Working Papers 300 $a"December 2006." 311 $a1-4518-6557-0 320 $aIncludes bibliographical references (p. 48-49). 327 $a""Bank Risk-Taking and Competition Revisited: New Theory and New Evidence""; ""Contents""; ""I. INTRODUCTION""; ""II. THEORY""; ""III. EVIDENCE""; ""IV. CONCLUSION""; ""Appendix I. Pareto Dominant Equilibria""; ""References"" 330 3 $aThis paper studies two new models in which banks face a non-trivial asset allocation decision. The first model (CVH) predicts a negative relationship between banks' risk of failure and concentration, indicating a trade-off between competition and stability. The second model (BDN) predicts a positive relationship, suggesting no such trade-off exists. Both models can predict a negative relationship between concentration and bank loan-to-asset ratios, and a nonmonotonic relationship between bank concentration and profitability. We explore these predictions empirically using a cross-sectional sample of about 2,500 U.S. banks in 2003 and a panel data set of about 2,600 banks in 134 nonindustrialized countries for 1993-2004. In both these samples, we find that banks' probability of failure is positively and significantly related to concentration, loan-to-asset ratios are negatively and significantly related to concentration, and bank profits are positively and significantly related to concentration. Thus, the risk predictions of the CVH model are rejected, those of the BDN model are not, there is no trade-off between bank competition and stability, and bank competition fosters the willingness of banks to lend. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2006/297 606 $aBank failures$xEconometric models 606 $aCompetition$xEconometric models 606 $aBank loans$xEconometric models 606 $aRisk$xEconometric models 606 $aBanks and Banking$2imf 606 $aFinance: General$2imf 606 $aInvestments: Bonds$2imf 606 $aMacroeconomics$2imf 606 $aIndustries: Financial Services$2imf 606 $aEconometrics$2imf 606 $aBanks$2imf 606 $aDepository Institutions$2imf 606 $aMicro Finance Institutions$2imf 606 $aMortgages$2imf 606 $aFinancing Policy$2imf 606 $aFinancial Risk and Risk Management$2imf 606 $aCapital and Ownership Structure$2imf 606 $aValue of Firms$2imf 606 $aGoodwill$2imf 606 $aOligopoly and Other Imperfect Markets$2imf 606 $aGeneral Financial Markets: General (includes Measurement and Data)$2imf 606 $aPersonal Income, Wealth, and Their Distributions$2imf 606 $aEstimation$2imf 606 $aBanking$2imf 606 $aFinance$2imf 606 $aInvestment & securities$2imf 606 $aEconometrics & economic statistics$2imf 606 $aLoans$2imf 606 $aBonds$2imf 606 $aCompetition$2imf 606 $aPersonal income$2imf 606 $aFinancial institutions$2imf 606 $aNational accounts$2imf 606 $aFinancial markets$2imf 606 $aEstimation techniques$2imf 606 $aEconometric analysis$2imf 606 $aBanks and banking$2imf 606 $aIncome$2imf 606 $aEconometric models$2imf 607 $aUnited States$2imf 615 0$aBank failures$xEconometric models. 615 0$aCompetition$xEconometric models. 615 0$aBank loans$xEconometric models. 615 0$aRisk$xEconometric models. 615 7$aBanks and Banking 615 7$aFinance: General 615 7$aInvestments: Bonds 615 7$aMacroeconomics 615 7$aIndustries: Financial Services 615 7$aEconometrics 615 7$aBanks 615 7$aDepository Institutions 615 7$aMicro Finance Institutions 615 7$aMortgages 615 7$aFinancing Policy 615 7$aFinancial Risk and Risk Management 615 7$aCapital and Ownership Structure 615 7$aValue of Firms 615 7$aGoodwill 615 7$aOligopoly and Other Imperfect Markets 615 7$aGeneral Financial Markets: General (includes Measurement and Data) 615 7$aPersonal Income, Wealth, and Their Distributions 615 7$aEstimation 615 7$aBanking 615 7$aFinance 615 7$aInvestment & securities 615 7$aEconometrics & economic statistics 615 7$aLoans 615 7$aBonds 615 7$aCompetition 615 7$aPersonal income 615 7$aFinancial institutions 615 7$aNational accounts 615 7$aFinancial markets 615 7$aEstimation techniques 615 7$aEconometric analysis 615 7$aBanks and banking 615 7$aIncome 615 7$aEconometric models 700 $aDe Nicolo$b Gianni$0375199 701 $aJalal$b Abu M$01630702 701 $aBoyd$b John$0341064 712 02$aInternational Monetary Fund.$bResearch Dept. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910809283803321 996 $aBank Risk-Taking and Competition Revisited$93969147 997 $aUNINA