English  |  正體中文  |  简体中文  |  Post-Print筆數 : 27 |  Items with full text/Total items : 109951/140892 (78%)
Visitors : 46197833      Online Users : 606
RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.
Scope Tips:
  • please add "double quotation mark" for query phrases to get precise results
  • please goto advance search for comprehansive author search
  • Adv. Search
    HomeLoginUploadHelpAboutAdminister Goto mobile version
    政大機構典藏 > 商學院 > 金融學系 > 學位論文 >  Item 140.119/81465
    Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/81465


    Title: 金融中介與貸放風險
    Financial Intermediation and Lending Risk
    Authors: 李立璿
    Contributors: 江永裕
    張興華

    李立璿
    Keywords: 金融中介
    銀行競爭
    Financial Intermediation
    Bank Competition
    Date: 2016
    Issue Date: 2016-03-01 10:28:56 (UTC+8)
    Abstract: 隨著金融交易與經濟活動的不斷演變,以及資訊科技的更迭與普及,有別於傳統的、非實體型態的金融中介機構逐漸威脅過去如銀行、保險公司等傳統中介機構的功能與收益,故隨之而來討論新型態金融中介是否仍有助於經濟成長、如何影響金融中介發展等議題也漸漸升溫。有鑒於此,本文第2.3章將探討兩種不同型態的中介機構(銀行與群眾募資平台) 之風險穩定程度,並據此提出新的分析結論。
    金融中介在向大眾提供資金融通服務的同時也面臨風險。以信用風險及流動性風險為例,銀行利用創新金融工具,不但能將手中融資貸款部位的信用風險轉移至願冒險投資的投資人手中,藉此增加資金以繼續提供融資服務,成功達到幫助銀行增加利潤、分散信用風險,以及增加流動性等功能,但實際上,這些可能違約的信用風險其實並未消失。
    本文試圖重新檢視金融中介的信用風險議題,首先分析銀行產業結構會如何影響銀行的違約風險;並關注次貸後因市場流動性急遽消失而新興的新興金融工具--群眾募資,是否將再次導致市場上高風險項目的出現。
    Reference: Allen, F., and Gale, D. (2000). Comparing financial systems. Cambridge, MA: MIT Press.
    Allen, F., and Gale, D. (2004). Competition and financial stability. Journal of Money, Credit, and Banking 36:3 Pt.2, 433-80.
    Allen, F., and Santomero, A. M. (1998). The theory of financial intermediation. Journal of Banking and Finance, 21(11), 1461-1485.
    Allen, F., and Santomero, A. M. (2001). What do financial intermediaries do?. Journal of Banking and Finance, 25(2), 271-294.
    Ashta, A., and Assadi, D. (2009). An Analysis of European Online micro-lending Websites. EMN 6th Annual Conference (Vol. 33, pp. 4-28).
    Bachmann, A., Becker, A., Buerckner, D., Hilker, M., Kock, F., Lehmann, M., and Funk, B. (2011). Online Peer-to-Peer Lending–A Literature. Journal of Internet Banking and Commerce, 16(2), 1-18.
    Baeck, P., Collins, L., and Zhang, B. (2014). Understanding Alternative Finance. Nesta and University of Cambridge.
    Barnett, C. (2013). Top 10 Crowdfunding Sites For Fundraising. New York: Forbes.
    Beck, T., Demirgüç-Kunt, A., and Levine, R. (2006). Bank concentration, competition, and crises: First results. Journal of Banking and Finance 30, 1581-603.
    Belleflamme, P., Lambert, T., and Schwienbacher, A. (2010). Crowdfunding: An industrial organization perspective. In Prepared for the workshop Digital Business Models: Understanding Strategies, held in Paris on June, 25-26.
    Berger, A. N., Klapper, L. F., and Turk-Ariss, R. (2009). Bank competition and financial stability. Journal of Financial Services Research, 35, 99-118.
    Besanko, D., and Thakor, A. V. (1993). Relationship banking, deposit insurance and bank portfolio choice. In: Mayer, C. and Vives, X. (eds), Capital Markets and Financial Intermediation. Cambridge, UK: Cambridge University Press, 292-318.
    Boot, A., and Greenbaum, S. (1993) Bank regulation, reputation and rents theory and policy implications. In: Mayer, C. and Vives, X. (eds), Capital Markets and Financial Intermediation. Cambridge, UK: Cambridge University Press, 262~285.
    Boyd, J.H., and De Nicoló, G. (2005). The theory of bank risk-taking and competition revisited. Journal of Finance 60, 1329-343.
    Boyd, J. H., De Nicoló, M. G., and Jalal, A. M. (2009). Bank risk taking and competition: New theory, new empirics. IMF Working Paper 09/143.
    Boyd, J. H., and Gertler, M. (1994). Are banks dead? Or are the reports greatly exaggerated?. Federal Reserve Bank of Minneapolis. Quarterly Review-Federal Reserve Bank of Minneapolis, 18(3), 2.
    Bradford, C. S. (2012). Crowdfunding and the federal securities laws. Columbia Business Law Review, 2012(1).
    Burtch, G., Ghose, A., and Wattal, S. (2013a). An empirical examination of the antecedents and consequences of contribution patterns in crowd-funded markets.Information Systems Research, 24(3), 499-519.
    Burtch, G., Ghose, A., and Wattal, S. (2013b). Cultural differences and geography as determinants of online pro-social lending. MIS Quarterly, Forthcoming, 14-021.
    Caminal, R., and Matutes, C. (2002). Market power and banking failures. International Journal of Industrial Organization 20, 1341-61.
    Carletti , E. (2008) Competition and Regulation in Banking, in A. Boot and A. Thakor (eds.), Handbook in Financial Intermediation, Elsevier, North Holland.
    Chan, Y-S., Greenbaum, S. I. and Thakor, A. V. (1986). Information reusability, competition and bank asset quality. Journal of Banking and Finance, 10, 243-53.
    Clarke, R. and Davies, S. (1982). Market structure and price-cost margins, Economica, 49: 277-287.
    Cronin, M. J. (1998). Banking and Finance on the Internet. John Wiley and Sons.
    Crowling, K. and M. Waterson. (1976) Price cost margins and market structure. Economica, 43, 267-274.
    Cumming, D. J., Leboeuf, G., and Schwienbacher, A. (2014). Crowdfunding Models: Keep-it-All vs. All-or-Nothing. In Paris December 2014 Finance Meeting EUROFIDAI-AFFI Paper.
    De Buysere, K., Gajda, O., Kleverlaan, R., Marom, D., and Klaes, M. (2012). A framework for European crowdfunding. European Crowdfunding Network (ECN).
    Diamond, D. W. (1984). Financial intermediation and delegated monitoring. The Review of Economic Studies, 51(3), 393-414.
    Diamond, D. W., and Dybvig, P. H. (1983). Bank runs, deposit insurance, and liquidity. The journal of political economy, 401-419.
    Dick, A. A. (2006). Nationwide Branching and Its Impact on Market Structure, Quality, and Bank Performance. The Journal of Business, 79(2), 567-592.
    EU Commission. (2014). Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions. Brussels, 27.3.
    Feyzioğlu, T., Porter, N. and Takáts, E. (2009). Interest Rate Liberalization in China, IMF Working Paper 09/171.
    Freedman, S., and Jin, G. Z. (2008). Do social networks solve information problems for peer-to-peer lending? evidence from prosper. com.
    Frame, W. S., and White, L. J. (2004). Empirical studies of financial innovation: lots of talk, little action?. Journal of Economic Literature, 42(1), 116-144.
    Frame, W. S., and White, L. J. (2014). Technological change, financial innovation, and diffusion in banking.
    Freixas, X., and Rochet, J. C. (1997). Microeconomics of banking (Vol. 2). Cambridge, MA: MIT press.
    Gerber, E. M., Hui, J. S., and Kuo, P. Y. (2012). Crowdfunding: Why people are motivated to post and fund projects on crowdfunding platforms. InProceedings of the International Workshop on Design, Influence, and Social Technologies: Techniques, Impacts and Ethics.
    Greenbaum, S. I., and Thakor, A. V. (1987). Bank funding modes: Securitization versus deposits. Journal of Banking and Finance, 11(3), 379-401.
    Griffin, Z. J. (2012). Crowdfunding: fleecing the American masses. Case W. Res. JL Tech. and Internet, 4, 375.
    Gomez, F., and Ponce, J. (2014). Bank Competition and Loan Quality. Journal of Financial Services Research, 46(3), 215-233.
    Gorton, G., and Winton, A. (2003). Financial intermediation. Handbook of the Economics of Finance, 1, 431-552.
    Hauswald, R., and Marquez, R. (2003). Information technology and financial services competition. Review of Financial Studies, 16(3), 921-948.
    Hellmann, T. F., Murdock, K. C., and Stiglitz, J. E. (2000). Liberalization, moral hazard in banking, and prudential regulation: Are capital requirements enough. American economic review, 147-165.
    Ho, T. S. Y. and Saunders, A. (1981). The determinants of bank interest margins: theory and empirical evidence, Journal of Financial and Quantitative Analysis, 16, 581-600.
    Hoggarth, G., Milnem, A. and Wood, G. (1998). Alternative routes to banking stability: A comparison of UK and German banking systems, Financial Stability Review, October, Bank of England.
    Hollas, J. (2013). Is crowdfunding now a threat to traditional finance? Corporate Finance Review, 18(1), 27.
    Hornuf, L., and Schwienbacher, A. (2014). Crowdinvesting–Angel Investing for the masses?. Handbook of research on venture capital, 3.
    Jimenez, G., Lopez, J. and Saurina, J. (2010). How does competition impact bank risk taking, Banco de Espana Working Paper, No. 1005.
    Keeley, M.C. (1990). Deposit insurance, risk and market power in banking, American Economic Review 80, 1183-200.
    Iyer, R., Khwaja, A. I., Luttmer, E. F., and Shue, K. (2009). Screening in new credit markets: Can individual lenders infer borrower creditworthiness in peer-to-peer lending? In AFA 2011 Denver Meetings Paper.
    Kirby, E., and Worner, S. (2014). Crowd-funding: An Infant Industry Growing Fast. IOSCO, Madrid.
    Koskela, E and Stenbacka, R. (2000). Is there a tradeoff between bank competition and financial fragility?, Journal of Banking and Finance, 24, 1853-1873.
    Lambert, T., and Schwienbacher, A. (2010). An empirical analysis of crowdfunding. Social Science Research Network, 1578175.
    Levine, R. (1999). Law, finance, and economic growth. Journal of financial Intermediation, 8(1), 8-35.
    Levine, R., Loayza, N., and Beck, T. (2000). Financial intermediation and growth: Causality and causes. Journal of monetary Economics, 46(1), 31-77.
    Lin, M., Prabhala, N. R., and Viswanathan, S. (2013). Judging borrowers by the company they keep: friendship networks and information asymmetry in online peer-to-peer lending. Management Science, 59(1), 17-35.
    Marquez, R. (2002). Competition, adverse selection, and information dispersion in the banking industry, Review of Financial Studies, 15, 901-926.
    Martinez-Miera, D., and Repullo, R. (2010). Does competition reduce the risk of bank failure, Review of Financial Studies, 23, 3638-3664.
    Massolution. (2012). 2012 The Crowdfunding Industry Report. Massolution.
    Massolution. (2013). 2013 The Crowdfunding Industry Report. Massolution.
    Massolution. (2015). 2015 The Crowdfunding Industry Report. Massolution.
    Mayer, C. (1990). Financial systems, corporate finance, and economic development. In Asymmetric information, corporate finance, and investment (pp. 307-332). University of Chicago Press.
    Mian, A., and Sufi, A. (2008). The consequences of mortgage credit expansion: Evidence from the 2007 mortgage default crisis (No. w13936). National Bureau of Economic Research.
    Miller, M. H. (1986). Financial innovation: The last twenty years and the next. Journal of Financial and Quantitative Analysis, 21(04), 459-471.
    Miller, M.H. (1992). Financial innovation: Achievements and prospects, Journal of Applied Corporate Finance 4:4-11.
    Moritz, A., and Block, J. H. (2014). Crowdfunding: A Literature Review and Research Directions. Available at SSRN 2554444.
    Morre, E and Moules, J (2011). Peer to peer loans Company closes, financial times.
    Nadauld, T. D., and Sherlund, S. M. (2013). The impact of securitization on the expansion of subprime credit. Journal of Financial Economics, 107(2), 454-476.
    Ordanini, A., Miceli, L., Pizzetti, M., and Parasuraman, A. (2011). Crowd-funding: transforming customers into investors through innovative service platforms. Journal of service management, 22(4), 443-470.
    Perotti, E. C. and J. Suarez. (2002). Last bank standing: What do I gain if you fail? European Economic Review, 46, 1599 - 1622.
    Pierrakis, Y., and Collins, L. (2013). Banking on each other: peer-to-peer lending to business: evidence from funding circle.
    Rajan, R. G. (2006). Has finance made the world riskier?. European Financial Management, 12(4), 499-533.
    Reinhart, C., J. Kirkegaard and M. Sbrancia. (2011). Financial repression redux, Finance and Development, 48, 22-26.
    Repullo, R. (2013). Cyclical adjustment of capital requirements: A simple framework. Journal of Financial Intermediation, 22(4), 608-626.
    Rubinton, B. J. (2011). Crowdfunding: disintermediated investment banking. Available at SSRN 1807204.
    Schacht, K. N. (2014). Does Crowdfunding Pose a Threat to Investors?. CFA Institute Magazine, 25(3), 46-46.
    Schaeck, K., Cihak, M. M. and Wolfe, S. (2009). Are More Competitive Banking Systems More stable, Journal of Money, Credit and Banking, 41, 711-734.
    Stemler, A. R. (2013). The JOBS Act and crowdfunding: Harnessing the power—and money—of the masses. Business Horizons, 56(3), 271-275.
    Uhde, A. and U. Heimeshoff. (2009). Consolidation in banking and financial stability in Europe: Empirical evidence, Journal of Banking and Finance, 33, 1299-1311.
    UKCFA, UK Crowdfunding Association, http://www.ukcfa.org.uk/
    Ward, C., and Ramachandran, V. (2010). Crowdfunding the next hit: Microfunding online experience goods. In Workshop on Computational Social Science and the Wisdom of Crowds at NIPS2010.
    Wagner, W. (2010). Loan market competition and bank risk-taking. Journal of Financial Services Research, 37(1), 71-81.
    Wilson, K. E., and Testoni, M. (2014). Improving the role of equity crowdfunding in Europe`s capital markets. Available at SSRN 2502280.
    World Economic Forum and Deloitte, (2015). The Future of Financial Services – How disruptive innovations are reshaping the way financial services are structured, provisioned and consumed.
    Description: 博士
    國立政治大學
    金融研究所
    95352501
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G0095352501
    Data Type: thesis
    Appears in Collections:[金融學系] 學位論文

    Files in This Item:

    File SizeFormat
    index.html0KbHTML2303View/Open


    All items in 政大典藏 are protected by copyright, with all rights reserved.


    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.
    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library IR team Copyright ©   - Feedback