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dc.contributor.author
Schclarek Curutchet, Alfredo
dc.contributor.author
Xu, Jiajun
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Yan, Jianye
dc.date.available
2023-06-26T17:31:19Z
dc.date.issued
2023-03
dc.identifier.citation
Schclarek Curutchet, Alfredo; Xu, Jiajun; Yan, Jianye; The maturity-lengthening role of national development banks; John Wiley and Sons Inc; International Review of Finance; 23; 1; 3-2023; 130-157
dc.identifier.issn
1369-412X
dc.identifier.uri
http://hdl.handle.net/11336/201560
dc.description.abstract
We analyze why national development banks (NDBs) may provide longer-term loans to firms than private commercial banks (PCBs). If NDB bonds have higher collateral value than PCB bonds, then NDBs may lend longer-term than PCBs. NDBs may enjoy higher recapitalization willingness and capacity by the state and hence greater collateral value than PCBs. Moreover, NDBs may have advantages over state-owned commercial banks if NDB bonds enjoy higher market liquidity. However, NDBs may suffer from poor monitoring quality owing to undue political intervention, thus undermining collateral value. Our study implies that NDBs are not substitutes for but complements to PCBs.
dc.format
application/pdf
dc.language.iso
eng
dc.publisher
John Wiley and Sons Inc
dc.rights
info:eu-repo/semantics/openAccess
dc.rights.uri
https://creativecommons.org/licenses/by-nc-sa/2.5/ar/
dc.subject
COLLATERAL CAPACITY
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LOAN MATURITY
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MARKET LIQUIDITY
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MONITORING QUALITY
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NATIONAL DEVELOPMENT BANKS
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RECAPITALIZATION
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Economía, Econometría
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Economía y Negocios
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CIENCIAS SOCIALES
dc.title
The maturity-lengthening role of national development banks
dc.type
info:eu-repo/semantics/article
dc.type
info:ar-repo/semantics/artículo
dc.type
info:eu-repo/semantics/publishedVersion
dc.date.updated
2023-06-26T13:46:41Z
dc.identifier.eissn
1468-2443
dc.journal.volume
23
dc.journal.number
1
dc.journal.pagination
130-157
dc.journal.pais
Estados Unidos
dc.description.fil
Fil: Schclarek Curutchet, Alfredo. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas. Departamento de Economía; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas; Argentina
dc.description.fil
Fil: Xu, Jiajun. Peking University; China
dc.description.fil
Fil: Yan, Jianye. Beijing Institute Of Technology; China
dc.journal.title
International Review of Finance
dc.relation.alternativeid
info:eu-repo/semantics/altIdentifier/url/https://onlinelibrary.wiley.com/doi/10.1111/irfi.12391
dc.relation.alternativeid
info:eu-repo/semantics/altIdentifier/doi/http://dx.doi.org/10.1111/irfi.12391
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