Bank Profitability and Risk-Taking:
Traditional theory suggests that more profitable banks should have lower risk-taking incentives. Then why did many profitable banks choose to invest in untested financial instruments before the crisis, realizing significant losses? We attempt to reconcile theory and evidence. In our setup, banks are...
Saved in:
| Main Author: | |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Washington, D.C
International Monetary Fund
2015
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| Series: | IMF Working Papers: Working Paper No. 15 / 249
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| Online Access: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Summary: | Traditional theory suggests that more profitable banks should have lower risk-taking incentives. Then why did many profitable banks choose to invest in untested financial instruments before the crisis, realizing significant losses? We attempt to reconcile theory and evidence. In our setup, banks are endowed with a fixed core business. They take risk by levering up to engage in risky 'side activities'(such as market-based investments) alongside the core business. A more profitable core business allows a bank to borrow more and take side risks on a larger scale, offsetting lower incentives to take risk of given size. Consequently, more profitable banks may have higher risk-taking incentives. The framework is consistent with cross-sectional patterns of bank risk-taking in the run up to the recent financial crisis |
| Physical Description: | 1 Online-Ressource (43 p) |
| ISBN: | 1513517589 9781513517582 |
Staff View
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| illustrated | Not Illustrated |
| index_date | 2024-07-03T20:13:37Z |
| indexdate | 2024-07-10T09:35:48Z |
| institution | BVB |
| isbn | 1513517589 9781513517582 |
| language | English |
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| oclc_num | 1337127463 |
| open_access_boolean | |
| owner | DE-20 DE-824 DE-70 DE-155 DE-BY-UBR DE-29 DE-22 DE-BY-UBG DE-473 DE-BY-UBG DE-1102 DE-703 DE-859 DE-706 DE-384 DE-860 DE-19 DE-BY-UBM DE-739 DE-355 DE-BY-UBR DE-Aug4 DE-1049 DE-12 DE-91 DE-BY-TUM |
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| physical | 1 Online-Ressource (43 p) |
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| publishDate | 2015 |
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| publisher | International Monetary Fund |
| record_format | marc |
| series2 | IMF Working Papers: Working Paper No. 15 / 249 |
| spelling | Martynova, Natalya Verfasser aut Bank Profitability and Risk-Taking Martynova, Natalya Washington, D.C International Monetary Fund 2015 1 Online-Ressource (43 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers: Working Paper No. 15 / 249 Traditional theory suggests that more profitable banks should have lower risk-taking incentives. Then why did many profitable banks choose to invest in untested financial instruments before the crisis, realizing significant losses? We attempt to reconcile theory and evidence. In our setup, banks are endowed with a fixed core business. They take risk by levering up to engage in risky 'side activities'(such as market-based investments) alongside the core business. A more profitable core business allows a bank to borrow more and take side risks on a larger scale, offsetting lower incentives to take risk of given size. Consequently, more profitable banks may have higher risk-taking incentives. The framework is consistent with cross-sectional patterns of bank risk-taking in the run up to the recent financial crisis Online-Ausg Ratnovski, Lev Sonstige oth Vlahu, Razvan Sonstige oth http://www.elibrary.imf.org/view/IMF001/22961-9781513517582/22961-9781513517582/22961-9781513517582.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Martynova, Natalya Bank Profitability and Risk-Taking |
| title | Bank Profitability and Risk-Taking |
| title_auth | Bank Profitability and Risk-Taking |
| title_exact_search | Bank Profitability and Risk-Taking |
| title_exact_search_txtP | Bank Profitability and Risk-Taking |
| title_full | Bank Profitability and Risk-Taking Martynova, Natalya |
| title_fullStr | Bank Profitability and Risk-Taking Martynova, Natalya |
| title_full_unstemmed | Bank Profitability and Risk-Taking Martynova, Natalya |
| title_short | Bank Profitability and Risk-Taking |
| title_sort | bank profitability and risk taking |
| url | http://www.elibrary.imf.org/view/IMF001/22961-9781513517582/22961-9781513517582/22961-9781513517582.xml |
| work_keys_str_mv | AT martynovanatalya bankprofitabilityandrisktaking AT ratnovskilev bankprofitabilityandrisktaking AT vlahurazvan bankprofitabilityandrisktaking |