Marginal cost of risk-based capital and risk-taking

We explore the impact of capital adequacy requirements on financial institutions’ risk-taking behavior from a novel perspective. Specifically, we show that an important feature of the risk-based capital (RBC) system—a built-in diversification benefit in aggregating risk categories—induces moral haza...

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Váldodahkkit: Chen, Tao, Goh, Jing Rong, Kamiya, Shinichi, Lou, Pingyi
Eará dahkkit: Nanyang Business School
Materiálatiipa: Journal Article
Giella:English
Almmustuhtton: 2020
Fáttát:
Liŋkkat:https://hdl.handle.net/10356/143660