Theoretical and empirical consideration on market discipline in the financial system
金融体系市场纪律的理论与实证思考
基本信息
- 批准号:15530224
- 负责人:
- 金额:$ 1.73万
- 依托单位:
- 依托单位国家:日本
- 项目类别:Grant-in-Aid for Scientific Research (C)
- 财政年份:2003
- 资助国家:日本
- 起止时间:2003 至 2006
- 项目状态:已结题
- 来源:
- 关键词:
项目摘要
In order to reform the financial system of Japan in 21st century, it is necessary to incorporate a mechanism which mitigates banks' moral hazard. The key concept when we consider such a mechanism is market discipline. This research aims to analyze this concept theoretically and empirically. The important theme is how to discipline banks with reference to the information production function of banks which helps to allocate resources efficiently. Especially if we base our argument on the facts that financial conglomerates are widely formed, the importance of our research has been increasing. In the concrete, first, we construct a basic theoretical framework based on two-period model, then we extend this basic model to incorporate more structure in order to analyze several ways to discipline banks. We studied a transmission mechanism of banks' risks to the premium of banks' bonds. After the theoretical consideration, we collected premium data of subordinated bonds which banks issue, and analyzed the movement of this premium empirically. The spread data which is constructed from the price data of subordinated debts and the data which can be seen in the financial documents of banks are used to verify the theoretical model. As a result, we have found out that market discipline is working very well in Japan.
为了世纪对日本金融体系进行改革,有必要引入一种抑制银行道德风险的机制。我们考虑这种机制时的关键概念是市场纪律。本研究旨在对这一概念进行理论和实证分析。如何根据银行的信息生产功能对银行进行约束是一个重要的课题,它有助于有效地配置资源。特别是如果我们的论点是基于事实,金融集团的广泛形成,我们的研究的重要性已经增加。具体而言,首先构建了一个基于两阶段模型的基本理论框架,然后对该基本模型进行了扩展,使其包含更多的结构,从而分析了约束银行的几种方式。我们研究了银行风险向银行债券溢价的传导机制。在理论思考之后,本文收集了我国银行发行次级债券的溢价数据,并对该溢价的变动进行了实证分析。利用次级债价格数据构建的利差数据和银行财务文件中可见的数据对理论模型进行了验证。结果,我们发现市场纪律在日本运作得非常好。
项目成果
期刊论文数量(45)
专著数量(0)
科研奖励数量(0)
会议论文数量(0)
专利数量(0)
Microeconomic foundation of LLR from the viewpoint of payment
支付视角下LLR的微观经济基础
- DOI:
- 发表时间:2008
- 期刊:
- 影响因子:0
- 作者:Y.Maeda;Y.Sakai
- 通讯作者:Y.Sakai
Financial conglomerate and economy of scope : An analysis of profitability
金融集团和范围经济:盈利能力分析
- DOI:
- 发表时间:2004
- 期刊:
- 影响因子:0
- 作者:Y.Maeda;T.Nagata;H Imahigashi
- 通讯作者:H Imahigashi
Bank's Disclosure and the Efficiency of Allocation
银行的信息披露和配置效率
- DOI:
- 发表时间:2005
- 期刊:
- 影响因子:0
- 作者:Masatomo Akita;Yasuo MAEDA
- 通讯作者:Yasuo MAEDA
{{
item.title }}
{{ item.translation_title }}
- DOI:
{{ item.doi }} - 发表时间:
{{ item.publish_year }} - 期刊:
- 影响因子:{{ item.factor }}
- 作者:
{{ item.authors }} - 通讯作者:
{{ item.author }}
数据更新时间:{{ journalArticles.updateTime }}
{{ item.title }}
- 作者:
{{ item.author }}
数据更新时间:{{ monograph.updateTime }}
{{ item.title }}
- 作者:
{{ item.author }}
数据更新时间:{{ sciAawards.updateTime }}
{{ item.title }}
- 作者:
{{ item.author }}
数据更新时间:{{ conferencePapers.updateTime }}
{{ item.title }}
- 作者:
{{ item.author }}
数据更新时间:{{ patent.updateTime }}
MAEDA Yasuo其他文献
MAEDA Yasuo的其他文献
{{
item.title }}
{{ item.translation_title }}
- DOI:
{{ item.doi }} - 发表时间:
{{ item.publish_year }} - 期刊:
- 影响因子:{{ item.factor }}
- 作者:
{{ item.authors }} - 通讯作者:
{{ item.author }}
{{ truncateString('MAEDA Yasuo', 18)}}的其他基金
Redesign of the financial system using the market discipline and the prudential regulation
利用市场纪律和审慎监管重新设计金融体系
- 批准号:
19530284 - 财政年份:2007
- 资助金额:
$ 1.73万 - 项目类别:
Grant-in-Aid for Scientific Research (C)
A study on the control mechanisms of starvation response and cell differentiation, using the developmental system of Dictyostelium
利用盘基网柄菌发育系统研究饥饿反应和细胞分化的控制机制
- 批准号:
16370030 - 财政年份:2004
- 资助金额:
$ 1.73万 - 项目类别:
Grant-in-Aid for Scientific Research (B)
A Theoretical Analysis on Efficiency of a Narrow Bank System
狭义银行体系效率的理论分析
- 批准号:
10630007 - 财政年份:1998
- 资助金额:
$ 1.73万 - 项目类别:
Grant-in-Aid for Scientific Research (C)
Molecular basis of cellular functions in Dictyostelium
盘基网柄菌细胞功能的分子基础
- 批准号:
10044192 - 财政年份:1998
- 资助金额:
$ 1.73万 - 项目类别:
Grant-in-Aid for Scientific Research (B).
Molecular basis of cellular functions in Dictyostelium
盘基网柄菌细胞功能的分子基础
- 批准号:
08044189 - 财政年份:1996
- 资助金额:
$ 1.73万 - 项目类别:
Grant-in-Aid for international Scientific Research
Cell differentiation and pattern formation in a cell-cycle dependent manner in slime mold cells
粘菌细胞中以细胞周期依赖性方式进行细胞分化和模式形成
- 批准号:
04454018 - 财政年份:1992
- 资助金额:
$ 1.73万 - 项目类别:
Grant-in-Aid for General Scientific Research (B)
Dependency of the slime mold development on the cell-cycle position at the onset of starvation
饥饿开始时粘菌发育对细胞周期位置的依赖性
- 批准号:
62540522 - 财政年份:1987
- 资助金额:
$ 1.73万 - 项目类别:
Grant-in-Aid for General Scientific Research (C)
The Functional Significance of Sporopollenin in the Morphogenesis of the Cellular Slime Moulds
孢粉质在细胞粘菌形态发生中的功能意义
- 批准号:
60540442 - 财政年份:1985
- 资助金额:
$ 1.73万 - 项目类别:
Grant-in-Aid for General Scientific Research (C)