Capital structure in banking

Capital structure in banking
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银行业资本结构

DOI:
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发表时间:
2009
期刊:
FRBSF Economic Letter
影响因子:
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通讯作者:
Simon H. Kwan
Simon H. Kwan
中科院分区:
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文献类型:
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作者:
Simon H. Kwan

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资本结构理论试图解释为什么企业选择不同的债务和股权组合来为其运营融资。银行公司是一个特例,因为该行业的某些独特特征,包括联邦安全网和广泛的监管。过去两年的金融危机提供了另一组银行需要筹集资本的特殊情况。可以从资本结构理论的角度来看待银行在非公开市场发行优先股、支持政府融资的偏好。
Capital structure theories seek to explain why businesses choose different mixes of debt and equity to finance their operations. Banking firms represent a special case because of certain unique features in the industry, including a federal safety net and extensive regulation. The financial crisis of the past two years provided another set of special circumstances in which banks needed to raise capital. The preference banks have shown for issuing preferred shares in the private market in favor of government financing can be viewed through the lenses of capital structure theories.