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  • 标题:The relationship between capital structure and risk in emerging market banks
  • 本地全文:下载
  • 作者:Keegan Floquet ; Nicholas Biekpe
  • 期刊名称:Banks and Bank Systems
  • 印刷版ISSN:1816-7403
  • 电子版ISSN:1991-7074
  • 出版年度:2008
  • 卷号:3
  • 期号:1
  • 页码:63-74
  • 语种:English
  • 出版社:LLC "CPC "Business Perspectives"
  • 摘要:The relationship between capital structure and risk in the banking industry received renewed attention after the recommendations on minimal capital requirements for banks made by the Basel Committee in 1988. A number of studies have been conducted on this relationship since,but few have focused on emerging markets. This study aims to identify the nature of the relationship between capital structure and risk-taking in emerging market banks. A three-stage least squares (3SLS) method of estimation is applied to a modified version of the capital model developed by Shrieves and Dahl and a modified version of Kwan and Eisenbeis’ efficiency model. The relationship between changes in capital structure and risk and absolute levels of capital and risk are examined for 2 940 banks across 44 emerging market countries for the period of 1995 to 2003. Results show that no significant relationship exists between changes in capital and changes in risk,contrary to the positive relationship presented by developed market empirical evidence. A positive relationship between the absolute levels of capital and risk is,however,identified amongst emerging market banks. The evidence suggests that emerging market banks do not align capital and risk positively in the short term,but are able to make this alignment in the longer term.
  • 关键词:bank;capital;risk;3SLS;emerging market.
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