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Autore: | Kirti Divya |
Titolo: | Why Do Bank-Dependent Firms Bear Interest-Rate Risk? / / Divya Kirti |
Pubblicazione: | Washington, D.C. : , : International Monetary Fund, , 2017 |
Descrizione fisica: | 1 online resource (57 pages) : illustrations, tables, graphs |
Disciplina: | 332.10681 |
Soggetto topico: | Interest rate risk |
Corporations - Finance | |
Banks and Banking | |
Investments: General | |
Money and Monetary Policy | |
Industries: Financial Services | |
Banks | |
Depository Institutions | |
Micro Finance Institutions | |
Mortgages | |
Financing Policy | |
Financial Risk and Risk Management | |
Capital and Ownership Structure | |
Value of Firms | |
Goodwill | |
Financial Markets and the Macroeconomy | |
Monetary Policy, Central Banking, and the Supply of Money and Credit: General | |
General Financial Markets: General (includes Measurement and Data) | |
Interest Rates: Determination, Term Structure, and Effects | |
Banking | |
Finance | |
Monetary economics | |
Investment & securities | |
Financial services law & regulation | |
Loans | |
Bank credit | |
Securities | |
Short term interest rates | |
Financial institutions | |
Money | |
Financial services | |
Hedging | |
Financial regulation and supervision | |
Banks and banking | |
Credit | |
Financial instruments | |
Interest rates | |
Financial risk management | |
Soggetto geografico: | United States |
Nota di bibliografia: | Includes bibliographical references. |
Sommario/riassunto: | I document that floating-rate loans from banks (particularly important for bank-dependent firms) drive most variation in firms' exposure to interest rates. I argue that banks lend to firms at floating rates because they themselves have floating-rate liabilities, supporting this with three key findings. Banks with more floating-rate liabilities, first, make more floating-rate loans, second, hold more floating-rate securities, and third, quote lower prices for floating-rate loans. My results establish an important link between intermediaries' funding structure and the types of contracts used by non-financial firms. They also highlight a role for banks in the balance-sheet channel of monetary policy. |
Titolo autorizzato: | Why do bank-dependent firms bear interest-rate risk |
ISBN: | 1-4755-6974-2 |
1-4755-6977-7 | |
Formato: | Materiale a stampa |
Livello bibliografico | Monografia |
Lingua di pubblicazione: | Inglese |
Record Nr.: | 9910162943703321 |
Lo trovi qui: | Univ. Federico II |
Opac: | Controlla la disponibilità qui |