Competition among Financial Intermediaries When Diversification Matters

Journal of Financial Intermediation - Tập 6 - Trang 307-346 - 1997
Andrew Winton1
1Finance Department, Northwestern University, Evanston, IL, 60208–2001

Tài liệu tham khảo

Barlow, 1975 Baumol, 1986, On the theory of perfectly contestable markets Besanko, 1993, Relationship banking, deposit insurance, and portfolio choice, 292 Bhattacharya, 1993, Contemporary banking theory, J. Finan. Intermediation, 3, 2, 10.1006/jfin.1993.1001 Bordo, 1995, A Comparison of the Stability and Efficiency of the Canadian and American Banking Systems, 1870–1925, NBER Historical Paper, 67 Bordo, 1995, A comparison of the stability and efficiency of the Canadian and American banking systems in the Twentieth Century: Stability v. efficiency?, 11 Boyd, 1986, Financial intermediary coalitions, J. Econ. Theory, 38, 211, 10.1016/0022-0531(86)90115-8 Calomiris, 1993, Regulation, industrial structure, and instability in U.S. banking: An historical perspective, 19 Campbell, 1980, Information production, market signalling, and the theory of financial intermediation, J. Finance, 35, 863, 10.1111/j.1540-6261.1980.tb03506.x Capie, 1995, Prudent and stable (but inefficient?): Commercial banks in Britain, 1890–1940, 41 Capie, 1982, Concentration in British banking, 1870–1920, Business History, 24, 280, 10.1080/00076798200000052 Cerasi, 1995, The Optimal Size of a Bank: Costs and Benefits of Diversification, working paper Chari, 1988, Banking panics, information, and rational expectations equilibrium, J. Finance, 43, 749, 10.1111/j.1540-6261.1988.tb04606.x Checkland, 1975 Cockerell, 1994 Collins, 1988 Diamond, 1984, Financial intermediation and delegated monitoring, Rev. Econ. Stud., 51, 393, 10.2307/2297430 Diamond, 1983, Bank runs, deposit insurance and liquidity, J. Polit. Economy, 91, 401, 10.1086/261155 Dowd, 1992, Free banking in Australia, 48 Emmons, 1993, Deposit Insurance and Last-Resort Lending as Delegated Monitoring: A Theory of Bank Safety Nets, working paper Farrell, 1986, Installed base and compatibility: Innovation, product preannouncements, and predation, Am. Econ. Rev., 76, 940 Flood, 1995, The Boom and Bust Phenomenon and U.S. Bank Failure Experience, 1914–1929, working paper Gehrig, 1995, ‘Excessive Risk’ and Banking Regulation, working paper Gilson, 1990, An empirical study of private reorganization of firms in default, J. Finan. Econ., 27, 315, 10.1016/0304-405X(90)90059-9 Gorton, 1990, Financial intermediaries and liquidity creation, J. Finance, 45, 49, 10.1111/j.1540-6261.1990.tb05080.x Griffiths, 1973, The development of restrictive practices in the U.K. monetary system, Manchester Sch. Econ. Soc. Stud., 41, 3, 10.1111/j.1467-9957.1973.tb00063.x Innes, 1990, Limited liability and incentive contracting with ex-ante action choices, J. Econ. Theory, 52, 45, 10.1016/0022-0531(90)90066-S Jacklin, 1988, Distinguishing panics and information-based bank runs: Welfare and policy implications, J. Polit. Econ., 96, 568, 10.1086/261552 Jenkins, 1984, The practice of insurance against fire, 1750–1840, and historical research, 9 Katz, 1985, Network externalities, competition, and compatibility, Am. Econ. Rev., 75, 424 Krasa, 1992, A theory of optimal bank size, Oxford Econ. Pap., 44, 725, 10.1093/oxfordjournals.oep.a042072 Marcus, 1984, Deregulation and bank financial policy, J. Banking Finance, 8, 557, 10.1016/S0378-4266(84)80046-1 Matutes, 1996, Competition for deposits, fragility, and insurance, J. Finan. Intermediation, 5, 184, 10.1006/jfin.1996.0010 Myers, 1977, Determinants of corporate borrowing, J. Finan. Econ., 5, 147, 10.1016/0304-405X(77)90015-0 Neufeld, 1972 Rajan, 1992, Insiders and outsiders: The choice between informed and arm's-length debt, J. Finance, 47, 1367, 10.1111/j.1540-6261.1992.tb04662.x Ramakrishnan, 1984, Information reliability and a theory of financial intermediation, Rev. Econ. Stud., 51, 415, 10.2307/2297431 Roe, 1997, Backlash, Center for Law and Economic Studies Working Paper, 127 Rothschild, 1970, Increasing risk: I. A definition, J. Econ. Theory, 2, 225, 10.1016/0022-0531(70)90038-4 Shaffer, 1993, A test of competition in Canadian banking, J. Money, Credit, Banking, 25, 49, 10.2307/2077819 Sheppard, 1971 Smith, 1984, Private information, deposit interest rates, and the “stability” of the banking system, J. Monet. Econ., 14, 293, 10.1016/0304-3932(84)90045-X Tirole, 1988 Williamson, 1986, Costly monitoring, financial intermediation, and equilibrium credit rationing, J. Monet. Econ., 18, 159, 10.1016/0304-3932(86)90074-7 A. Winton, 1990, Three Essays on Information, Contracting, and Financial Intermediation, University of Pennsylvania Winton, 1995, Delegated monitoring and bank structure in a finite economy, J. Finan. Intermediation, 4, 158, 10.1006/jfin.1995.1008 Yanelle, 1989, The strategic analysis of intermediation, Eur. Econ. Rev., 33, 294, 10.1016/0014-2921(89)90106-2 Yanelle, 1997, Banking competition and market efficiency, Rev. Econ. Stud., 64, 215, 10.2307/2971710 Yosha, 1997, Diversification and competition: Financial intermediation in a large Cournot–Walras economy, J. Econ. Theory, 75, 64, 10.1006/jeth.1997.2262