International Diversification Gains and Home Bias in Banking:
This paper assembles a bank-level dataset covering the operations of 38 international banks from eight industrial countries and their subsidiaries overseas during 1995-2004, and studies the extent of diversification gains from their local operations abroad. The paper finds that international banks w...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2007
|
| Schriftenreihe: | IMF Working Papers
Working Paper No. 07/281 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | This paper assembles a bank-level dataset covering the operations of 38 international banks from eight industrial countries and their subsidiaries overseas during 1995-2004, and studies the extent of diversification gains from their local operations abroad. The paper finds that international banks with a larger share of assets allocated to foreign subsidiaries, particularly to those located in emerging market countries, are able to attain higher risk-adjusted returns. These gains are somewhat reduced- but by no means depleted-when international banks concentrate their subsidiaries in specific geographical regions. The paper also finds a substantial home bias in the international allocation of bank assets, relative to the results of a mean-variance portfolio optimization model. Overall, international diversification gains in banking appear to be substantial, albeit largely unexploited by current bank expansion strategies. These results suggest that international diversification gains could usefully be considered in the second pillar of Basel II as the first pillar is based only on the idiosyncratic risk of recipient countries |
| Beschreibung: | 1 Online-Ressource (29 p) |
| ISBN: | 1451868448 9781451868449 |
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| illustrated | Not Illustrated |
| index_date | 2024-07-03T20:13:24Z |
| indexdate | 2024-07-10T09:35:33Z |
| institution | BVB |
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| language | English |
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| series2 | IMF Working Papers |
| spelling | García-Herrero, Alicia Verfasser aut International Diversification Gains and Home Bias in Banking García-Herrero, Alicia Washington, D.C International Monetary Fund 2007 1 Online-Ressource (29 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 07/281 This paper assembles a bank-level dataset covering the operations of 38 international banks from eight industrial countries and their subsidiaries overseas during 1995-2004, and studies the extent of diversification gains from their local operations abroad. The paper finds that international banks with a larger share of assets allocated to foreign subsidiaries, particularly to those located in emerging market countries, are able to attain higher risk-adjusted returns. These gains are somewhat reduced- but by no means depleted-when international banks concentrate their subsidiaries in specific geographical regions. The paper also finds a substantial home bias in the international allocation of bank assets, relative to the results of a mean-variance portfolio optimization model. Overall, international diversification gains in banking appear to be substantial, albeit largely unexploited by current bank expansion strategies. These results suggest that international diversification gains could usefully be considered in the second pillar of Basel II as the first pillar is based only on the idiosyncratic risk of recipient countries Online-Ausg Vázquez, Francisco F. Sonstige oth http://elibrary.imf.org/view/IMF001/08858-9781451868449/08858-9781451868449/08858-9781451868449.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | García-Herrero, Alicia International Diversification Gains and Home Bias in Banking |
| title | International Diversification Gains and Home Bias in Banking |
| title_auth | International Diversification Gains and Home Bias in Banking |
| title_exact_search | International Diversification Gains and Home Bias in Banking |
| title_exact_search_txtP | International Diversification Gains and Home Bias in Banking |
| title_full | International Diversification Gains and Home Bias in Banking García-Herrero, Alicia |
| title_fullStr | International Diversification Gains and Home Bias in Banking García-Herrero, Alicia |
| title_full_unstemmed | International Diversification Gains and Home Bias in Banking García-Herrero, Alicia |
| title_short | International Diversification Gains and Home Bias in Banking |
| title_sort | international diversification gains and home bias in banking |
| url | http://elibrary.imf.org/view/IMF001/08858-9781451868449/08858-9781451868449/08858-9781451868449.xml |
| work_keys_str_mv | AT garciaherreroalicia internationaldiversificationgainsandhomebiasinbanking AT vazquezfranciscof internationaldiversificationgainsandhomebiasinbanking |