The relationship between banks' capitalizations and risk-taking behaviors has been one of the central issues in the banking literature because of its implications on regulatory policies. Despite the fact that a considerable amount of studies have been conducted concerning the issue, neither...

We investigate the relationship between banks' capitalization and risk-taking behavior. The conventional wisdom is that well-capitalized banks are less inclined to increase asset risk, because the option value of deposit insurance decreases with capitalization. There are, however, at least three...

This paper provides a theoretical framework to investigate the relationship between banks' capitalization and risk-taking behavior. The conventional wisdom is that relatively well-capitalized banks are less inclined to increase asset risk, because the option value of deposit insurance decreases...

Extant literature finds large differences in loan denials between small firms owned by whites and other demographic groups. However, none of this literature focuses on the business owner's personal wealth, despite it being a potentially important part of the small business lending decision. We...

Korean Abstract: 자본충실도가 높은 은행이 고위험-고수익 사업에 투자하여 부실화될 수 있는 가능성은 은행이 론의 주요한 연구 대상이 되어 왔다. 만약 자본충실도가 높은 은행의 투자위험과 파산확률이 더 높다면, 이는...

Korean Abstract: 이 글은 금융위기 이후 바젤위원회에서 추진한 금융규제개혁 과제 중에서 은행 자본규제체계의 재설계와 관련한 부분을 살펴보는 것을 목적으로 하였다. 바젤위원회는 규제자본의 질, 일관성 및 투명성의...

This study was based on the hypothesis that a fund manager has incentive to take more risk with funds to conceal his actual management ability. A theoretical model was built to test this hypothesis. According to the model, when a fund manager's ability is not observable, a poor fund manager may...

Berle and Means's analysis of the corporation - in particular, their view that those in control are not the owners of the corporation - raises questions about actions that corporations take to counter concerns regarding management's influence. What mechanisms, if any, do corporations implement...