Discipline de marché par la dette subordonnée (notice n° 838942)
[ vue normale ]
| 000 -LEADER | |
|---|---|
| fixed length control field | 02311cam a2200289 4500500 |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20250123141604.0 |
| 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 | Distinguin, Isabelle |
| Relator term | author |
| 245 00 - TITLE STATEMENT | |
| Title | Discipline de marché par la dette subordonnée |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Date of publication, distribution, etc. | 2019.<br/> |
| 500 ## - GENERAL NOTE | |
| General note | 99 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | Nous analysons l’impact de l’opacité des banques et de la crédibilité de l’absence d’intervention des autorités en cas de défaillance d’une banque sur l’efficacité de la discipline de marché. Nous montrons que pour les banques les plus opaques, pour celles perçues comme « too-big-to-fail » ou en période de forte incertitude, la mise en place d’une politique de dette subordonnée peut s’avérer contreproductive et conduire la banque à choisir un monitoring insuffisant. Pour favoriser la discipline de marché, les régulateurs devraient imposer plus de transparence et faire en sorte que des créanciers soient, de manière crédible, soumis à des pertes potentielles. L’utilisation de la dette subordonnée convertible pourrait ainsi être une solution.Classification JEL: G21, G28. |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | Market discipline and subordinated debtWe construct a theoretical model to analyse the impact of bank opacity and the credibility of no bail-out policies on the effectiveness of market discipline exerted by subordinated debt holders. We find that for the most opaque banks, for banks perceived as too-big-to-fail and in periods of high uncertainty like in crisis, mandatory subordinated debt can be counterproductive and lead to lower monitoring. To ensure the effectiveness of market discipline, regulators should impose more transparency and ensure that subordinated debt holders are at risk. For this purpose, we argue that contingent capital might be an effective instrument. |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | banque |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | discipline de marché |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | risque bancaire |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | dette subordonnée |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | dette convertible |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | bank |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | bank risk |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | contingent capital |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | subordinated debt |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | market discipline |
| 786 0# - DATA SOURCE ENTRY | |
| Note | Revue économique | 70 | 2 | 2019-02-25 | p. 207-227 | 0035-2764 |
| 856 41 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://shs.cairn.info/revue-economique-2019-2-page-207?lang=fr&redirect-ssocas=7080">https://shs.cairn.info/revue-economique-2019-2-page-207?lang=fr&redirect-ssocas=7080</a> |
Pas d'exemplaire disponible.
Réseaux sociaux