政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/61739

English | 正體中文 | 简体中文 | Post-Print筆數 : 27 | Items with full text/Total items : 112721/143689 (78%)
Visitors : 49548948 Online Users : 698

RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.

Home ‧ Login ‧ Upload ‧ Help ‧ About ‧ Administer

政大機構典藏 > 商學院 > 金融學系 > 期刊論文 > Item 140.119/61739

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/61739

Title:	An Analysis of Strategic Equity Stakes Acquisition of Chinese Bank by Foreign Financial Institutions
Authors:	廖四郎 Liao,Szu-Lang;Wang,Ming-Chieh;Huang,Li-Jhang
Contributors:	金融系
Keywords:	capital control;contingent claim;optimal acquisition equity stake ratio;risk-weighted asset
Date:	2013.07
Issue Date:	2013-11-20 17:45:37 (UTC+8)
Abstract:	This paper applies a contingent claim model to examine the risk of and returns to foreign financial institutions after they acquire equity stakes in a Chinese bank. The model considers dynamic factors such as individual asset value and exchange rates in maximizing shareholder value. In addition to analyzing the asset value and factors associated with risk after participation, this paper evaluates the optimal acquisition equity stake ratio using numerical analyses under regulatory capital control. For the Chinese banking sector, we discover that the portfolio risk of foreign financial institution will decrease after acquiring equity stakes when its asset increases, the debt ratio decreases, and the required risk-weighted asset increases. Overall, these foreign financial institutions have well-diversified currency portfolios and enjoy better asset quality and surplus earnings; therefore, they will likely increase their optimal acquisition equity stake ratio if the Chinese banks in which they invest have with good quality assets and are focused on local business.
Relation:	Emerging Markets Finance & Trade, 49(Supplement 3), 98-109
Data Type:	article
DOI 連結:	http://dx.doi.org/10.2753/REE1540-496X4904S307
DOI:	10.2753/REE1540-496X4904S307
Appears in Collections:	[金融學系] 期刊論文

Files in This Item:

File	Description	Size	Format
98109.pdf		675Kb	Adobe PDF2	1493	View/Open

社群 sharing

著作權政策宣告 Copyright Announcement

1.本網站之數位內容為國立政治大學所收錄之機構典藏，無償提供學術研究與公眾教育等公益性使用，惟仍請適度，合理使用本網站之內容，以尊重著作權人之權益。商業上之利用，則請先取得著作權人之授權。
The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

2.本網站之製作，已盡力防止侵害著作權人之權益，如仍發現本網站之數位內容有侵害著作權人權益情事者，請權利人通知本網站維護人員(nccur@nccu.edu.tw)，維護人員將立即採取移除該數位著作等補救措施。
NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.

Loading...