메뉴 건너뛰기




Volumn 49, Issue 4, 2009, Pages 1429-1459

Requiem for market discipline and the specter of TBTF in Japanese banking

Author keywords

Credit Default Swap; Event study; Market discipline; Too Big To Fail

Indexed keywords


EID: 70350613220     PISSN: 10629769     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.qref.2009.08.001     Document Type: Article
Times cited : (21)

References (45)
  • 1
    • 34248550270 scopus 로고    scopus 로고
    • Bank for International Settlements BIS, April, BIS Working Paper No. 3
    • Bank for International Settlements (BIS). (2004, April). Bank failures in mature economies. BIS Working Paper No. 3.
    • (2004) Bank failures in mature economies
  • 2
    • 70350581429 scopus 로고    scopus 로고
    • Can banks grow Too Big To Fail? Research finds lenders would pay more to cross $100 billion threshold
    • Berman D.K. Can banks grow Too Big To Fail? Research finds lenders would pay more to cross $100 billion threshold. Wall Street Journal (2007, December) 9
    • (2007) Wall Street Journal , pp. 9
    • Berman, D.K.1
  • 4
    • 0002033791 scopus 로고
    • Bank portfolio regulation and the probability of bank failure: A note
    • Blair R.D., and Heggestad A. Bank portfolio regulation and the probability of bank failure: A note. Journal of Money, Credit, and Banking (1978, February) 80-93
    • (1978) Journal of Money, Credit, and Banking , pp. 80-93
    • Blair, R.D.1    Heggestad, A.2
  • 5
    • 0036119986 scopus 로고    scopus 로고
    • Information and the market's perceptions of Japanese bank risk: Regulation, environment, and disclosure
    • Bremer M., and Pettway R.H. Information and the market's perceptions of Japanese bank risk: Regulation, environment, and disclosure. Pacific-Basin Finance Journal (2002, April) 119-139
    • (2002) Pacific-Basin Finance Journal , pp. 119-139
    • Bremer, M.1    Pettway, R.H.2
  • 8
  • 9
    • 38249006133 scopus 로고
    • A nonparametric test for abnormal security-price performance in event studies
    • Corrado C.J. A nonparametric test for abnormal security-price performance in event studies. Journal of Financial Economics (1989, August) 385-395
    • (1989) Journal of Financial Economics , pp. 385-395
    • Corrado, C.J.1
  • 11
    • 2942575447 scopus 로고    scopus 로고
    • Measuring abnormal daily trading volume for samples of NYSE/ASE and NASDAQ securities using parametric and nonparametric test statistics
    • Campbell C.J., and Wasley C.E. Measuring abnormal daily trading volume for samples of NYSE/ASE and NASDAQ securities using parametric and nonparametric test statistics. Review of Quantitative Finance and Accounting (1996, May) 309-326
    • (1996) Review of Quantitative Finance and Accounting , pp. 309-326
    • Campbell, C.J.1    Wasley, C.E.2
  • 14
    • 0037647368 scopus 로고    scopus 로고
    • Evidence of bank market discipline in subordinated debentures yields: 1983-1991
    • Flannery M.J., and Sorescu S.M. Evidence of bank market discipline in subordinated debentures yields: 1983-1991. Journal of Finance (1996, September) 1347-1377
    • (1996) Journal of Finance , pp. 1347-1377
    • Flannery, M.J.1    Sorescu, S.M.2
  • 15
    • 33748537075 scopus 로고    scopus 로고
    • Weakening market and regulatory discipline in the Japanese financial system
    • Borio C., Hunter W.C., Kaufman G.G., and Tsatsaronis K. (Eds), MIT Press, Cambridge, MA
    • Fukao M. Weakening market and regulatory discipline in the Japanese financial system. In: Borio C., Hunter W.C., Kaufman G.G., and Tsatsaronis K. (Eds). Market discipline across countries and industries (2004), MIT Press, Cambridge, MA 119-133
    • (2004) Market discipline across countries and industries , pp. 119-133
    • Fukao, M.1
  • 17
    • 0035602664 scopus 로고    scopus 로고
    • Using bond and stock markets to monitor Bank Holdings Companies: Is it feasible?
    • Hancock D., and Kwast M.L. Using bond and stock markets to monitor Bank Holdings Companies: Is it feasible?. Journal of Financial Services Research (2001, October/December) 147-187
    • (2001) Journal of Financial Services Research , pp. 147-187
    • Hancock, D.1    Kwast, M.L.2
  • 20
    • 4644372273 scopus 로고    scopus 로고
    • The relationship between Credit Default Swap spreads, bond yields, and credit rating announcements
    • Hull J., Predescu M., and White A. The relationship between Credit Default Swap spreads, bond yields, and credit rating announcements. Journal of Banking and Finance (2004, November) 2789-2811
    • (2004) Journal of Banking and Finance , pp. 2789-2811
    • Hull, J.1    Predescu, M.2    White, A.3
  • 21
    • 33750865684 scopus 로고    scopus 로고
    • Market discipline and deposit insurance reform in Japan
    • Imai M. Market discipline and deposit insurance reform in Japan. Journal of Banking and Finance (2006, December) 3433-3452
    • (2006) Journal of Banking and Finance , pp. 3433-3452
    • Imai, M.1
  • 23
    • 34247626881 scopus 로고    scopus 로고
    • Good and bad credit contagion: Evidence from credit default swaps
    • Jorion P., and Zhang G. Good and bad credit contagion: Evidence from credit default swaps. Journal of Financial Economics (2007, June) 860-883
    • (2007) Journal of Financial Economics , pp. 860-883
    • Jorion, P.1    Zhang, G.2
  • 25
    • 0000696585 scopus 로고    scopus 로고
    • Incentives for banking megamergers: What motives might regulators infer from event-study evidence?
    • Kane E.J. Incentives for banking megamergers: What motives might regulators infer from event-study evidence?. Journal of Money, Credit and Banking (2000, August) 671-701
    • (2000) Journal of Money, Credit and Banking , pp. 671-701
    • Kane, E.J.1
  • 26
    • 0040955283 scopus 로고    scopus 로고
    • Price limit performance: Evidence from the Tokyo Stock Exchange
    • Kim K.A., and Rhee G.S. Price limit performance: Evidence from the Tokyo Stock Exchange. Journal of Finance (1997, June) 885-901
    • (1997) Journal of Finance , pp. 885-901
    • Kim, K.A.1    Rhee, G.S.2
  • 27
    • 84977349716 scopus 로고
    • Regulation of bank capital and portfolio risk
    • Koehn M., and Santomero A.M. Regulation of bank capital and portfolio risk. Journal of Finance (1980, December) 1235-1244
    • (1980) Journal of Finance , pp. 1235-1244
    • Koehn, M.1    Santomero, A.M.2
  • 28
    • 33644808364 scopus 로고    scopus 로고
    • Reactions of Japanese markets to changes in credit ratings by global and local agencies
    • Li J., Shin Y.S., and Moore W.T. Reactions of Japanese markets to changes in credit ratings by global and local agencies. Journal of Banking and Finance (2006, March) 1007-1021
    • (2006) Journal of Banking and Finance , pp. 1007-1021
    • Li, J.1    Shin, Y.S.2    Moore, W.T.3
  • 29
    • 33646474648 scopus 로고    scopus 로고
    • The price impact of rating announcements: Evidence from the Credit Default Swap market
    • Micu M., Remolona E.M., and Wooldridge P.D. The price impact of rating announcements: Evidence from the Credit Default Swap market. BIS Quarterly Review (2004, June) 55-65
    • (2004) BIS Quarterly Review , pp. 55-65
    • Micu, M.1    Remolona, E.M.2    Wooldridge, P.D.3
  • 30
    • 33847370320 scopus 로고    scopus 로고
    • How big a problem is Too Big To Fail? A review of Gary Stern and Ron Feldman's Too Big to Fail: The Hazards of Bank Bailouts
    • Mishkin F.S. How big a problem is Too Big To Fail? A review of Gary Stern and Ron Feldman's Too Big to Fail: The Hazards of Bank Bailouts. Journal of Economic Literature (2006, December) 988-1004
    • (2006) Journal of Economic Literature , pp. 988-1004
    • Mishkin, F.S.1
  • 32
    • 4644300605 scopus 로고    scopus 로고
    • Informational efficiency of Credit Default Swap and stock markets: The impact of credit rating announcements
    • Norden L., and Weber M. Informational efficiency of Credit Default Swap and stock markets: The impact of credit rating announcements. Journal of Banking and Finance (2004, November) 2813-2843
    • (2004) Journal of Banking and Finance , pp. 2813-2843
    • Norden, L.1    Weber, M.2
  • 33
    • 84977736967 scopus 로고
    • Deposit insurance and wealth effects: The value of being 'Too Big To Fail'
    • O'Hara M., and Shaw W. Deposit insurance and wealth effects: The value of being 'Too Big To Fail'. Journal of Finance (1990, December) 1587-1660
    • (1990) Journal of Finance , pp. 1587-1660
    • O'Hara, M.1    Shaw, W.2
  • 34
    • 9944260283 scopus 로고    scopus 로고
    • Gains in bank mergers: Evidence from the bond markets
    • Penas M.F., and Unal H. Gains in bank mergers: Evidence from the bond markets. Journal of Financial Economics (2004, November) 149-179
    • (2004) Journal of Financial Economics , pp. 149-179
    • Penas, M.F.1    Unal, H.2
  • 38
    • 70350583545 scopus 로고    scopus 로고
    • The role of deferred tax accounting in the Japanese banking crisis
    • mimeo
    • Skinner D.J. The role of deferred tax accounting in the Japanese banking crisis. University of Chicago (2006, July) mimeo
    • (2006) University of Chicago
    • Skinner, D.J.1
  • 39
    • 1642318710 scopus 로고    scopus 로고
    • The evolution of bank resolution policies in Japan: Evidence from market equity values
    • Spiegel M.M., and Yamori N. The evolution of bank resolution policies in Japan: Evidence from market equity values. Journal of Financial Research (2004, Spring) 115-132
    • (2004) Journal of Financial Research , pp. 115-132
    • Spiegel, M.M.1    Yamori, N.2
  • 41
    • 0001320180 scopus 로고
    • Stock market reaction to regulatory action in the Continental Illinois crisis
    • Swary I. Stock market reaction to regulatory action in the Continental Illinois crisis. Journal of Business (1986, July) 451-473
    • (1986) Journal of Business , pp. 451-473
    • Swary, I.1
  • 44
    • 38249019568 scopus 로고
    • The effect of Continental Illinois' failure on the financial performance of other banks
    • Wall L.D., and Peterson D.R. The effect of Continental Illinois' failure on the financial performance of other banks. Journal of Monetary Economics (1990, July) 77-99
    • (1990) Journal of Monetary Economics , pp. 77-99
    • Wall, L.D.1    Peterson, D.R.2
  • 45
    • 36348951513 scopus 로고    scopus 로고
    • Wealth effect of public fund injections to ailing banks: Do deferred tax assets and auditing firms matter?
    • Yamori N., and Kobayashi A. Wealth effect of public fund injections to ailing banks: Do deferred tax assets and auditing firms matter?. Japanese Economic Review (2007, December) 466-483
    • (2007) Japanese Economic Review , pp. 466-483
    • Yamori, N.1    Kobayashi, A.2


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.