An Economic Analysis of the Timing and Methods of the Distressed Financial Institutions : A Quantitative Approach for Credit Associations and Credit Cooperatives

本研究的目的是探讨信用协会和信用合作社等陷入困境的金融机构的合理时机和解决方法。数据来自1999年至2002年期间的25家不良信贷协会。财政年度。采用多项逻辑分析、Tobit分析和普通最小二乘法。结果表明，资本充足率是不良金融机构和救助金融机构分类的主要决定因素。清算成本受资本充足率和企业净利润的影响，但资产规模无关。金融监督当局的处置顺序是合理的，因为财务状况较严重的机构被较早地处置。

The purpose of this study is to investigate rational timing and methods for resolving distressed financial institutions such as credit associations and credit cooperatives. Data are obtained from 25 distressed credit associations during the period between 1999 to 2002. fiscal year. Multinomial logic analysis and Tobit analysis as well as ordinary least squares method were used. The results suggest that capital adequacy ratio is the main determinant for classifying distressed institutions and bail out institutions as expected. Costs of resolution were affected by capital adequacy ratio and net business profit, but asset size did not matter. The order of resolution by the financial supervisory authorities was rational since financially more serious institutions were resolved earlier.