Bank risk-taking: are contingent convertibles a resolution mechanism? (notice n° 208926)
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|---|---|
| fixed length control field | 02601cam a2200313 4500500 |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20250112053050.0 |
| 041 ## - LANGUAGE CODE | |
| Language code of text/sound track or separate title | fre |
| 042 ## - AUTHENTICATION CODE | |
| Authentication code | dc |
| 100 10 - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Maati-Sauvez, Christine |
| Relator term | author |
| 245 00 - TITLE STATEMENT | |
| Title | Bank risk-taking: are contingent convertibles a resolution mechanism? |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Date of publication, distribution, etc. | 2014.<br/> |
| 500 ## - GENERAL NOTE | |
| General note | 9 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | Les CoCos (obligations convertibles contingentes) sont des titres hybrides récents qui sont convertis en fonds propres lorsqu’une recapitalisation de la banque est nécessaire. Notre modélisation permet d’obtenir une structure endogène optimale du capital qui tient compte du niveau de risque associé à la politique d’investissement. Elle montre que les CoCos réduisent la probabilité de défaillance des banques sans l’annuler. Toutefois, les CoCos peuvent inciter les actionnaires à la prise de risque et conduire à une destruction de richesse. |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | CoCos (contingent convertibles) are recent hybrid securities which are converted into equity when banks are in need of a recapitalization. Our model derives an optimal capital structure endogenously while also allowing for bank risk choice. It shows that CoCos significantly reduce their probability of failure although they cannot completely protect banks against bankruptcy. Moreover, they may destroy wealth due to greater incentives for shareholders to risk-take. JEL classification G12. G13. G21. G28. G32 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | Los CoCos (bonos convertibles contingentes) son bonos híbridos recientes que son convertibles en bonos propios cuando una recapitalización del banco es necesaria. Nuestra modelización permite obtener una estructura endógena óptima del capital que toma en cuenta el nivel de riesgo asociado a la política de inversión. Ella muestra que los CoCos reducen la probabilidad de deficiencia de los bancos no obstante sin cancelarla. Sin embargo, los CoCos pueden incitar a los accionistas a tomar el riesgo y conducir a una destrucción de riqueza. |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | banking governance |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | endogenous capital structure |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | financial crisis |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | contingent convertibles |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | asset substitution |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | banking governance |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | endogenous capital structure |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | financial crisis |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | contingent convertibles |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | asset substitution |
| 700 10 - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Maati, Jérôme |
| Relator term | author |
| 786 0# - DATA SOURCE ENTRY | |
| Note | Recherches en Sciences de Gestion | o. 99 | 6 | 2014-05-01 | p. 105-124 | 2259-6372 |
| 856 41 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://shs.cairn.info/journal-recherches-en-sciences-de-gestion-2013-6-page-105?lang=en">https://shs.cairn.info/journal-recherches-en-sciences-de-gestion-2013-6-page-105?lang=en</a> |
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