Casu, Barbara and Clare, Andrew and Sarkisyan, Anna and Thomas, Stephen (2013) Securitization and Bank Performance. Journal of Money, Credit and Banking, 45 (8). pp. 1617-1658. DOI https://doi.org/10.1111/jmcb.12064
Casu, Barbara and Clare, Andrew and Sarkisyan, Anna and Thomas, Stephen (2013) Securitization and Bank Performance. Journal of Money, Credit and Banking, 45 (8). pp. 1617-1658. DOI https://doi.org/10.1111/jmcb.12064
Casu, Barbara and Clare, Andrew and Sarkisyan, Anna and Thomas, Stephen (2013) Securitization and Bank Performance. Journal of Money, Credit and Banking, 45 (8). pp. 1617-1658. DOI https://doi.org/10.1111/jmcb.12064
Abstract
Using predominantly precrisis U.S. commercial bank data, this paper employs a propensity score matching approach to analyze whether individual banks did improve their performance through securitization. On average, our results show that securitizing banks tend to be more profitable institutions, with higher credit risk exposure. Despite a more diversified funding structure, they face higher funding costs. We also find that securitizing banks tend to hold larger and less diversified loan portfolios, have less liquidity, and hold less capital. However, our analysis does not provide evidence to suggest that securitization had an impact upon bank performance. © 2013 The Ohio State University.
Item Type: | Article |
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Uncontrolled Keywords: | G21; G32; securitization; bank performance; propensity score matching |
Subjects: | H Social Sciences > HG Finance |
Divisions: | Faculty of Social Sciences Faculty of Social Sciences > Essex Business School |
SWORD Depositor: | Unnamed user with email elements@essex.ac.uk |
Depositing User: | Unnamed user with email elements@essex.ac.uk |
Date Deposited: | 24 Nov 2013 09:49 |
Last Modified: | 16 May 2024 16:48 |
URI: | http://repository.essex.ac.uk/id/eprint/8541 |