تجزیه و تحلیل بین کشوری رژیم های ورشکستگی بانک
|کد مقاله||سال انتشار||مقاله انگلیسی||ترجمه فارسی||تعداد کلمات|
|48286||2014||17 صفحه PDF||سفارش دهید||14210 کلمه|
Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)
Journal : Journal of Financial Stability, Volume 13, August 2014, Pages 134–150
This article analyzes bank bankruptcy regimes across 142 countries. By employing factor analysis, we identify five main dimensions of bank bankruptcy frameworks: (1) difficulty of forbearance and ease of court appeal, (2) availability of supervisory tools, (3) court involvement, (4) supervisory powers with respect to managers, and (5) supervisory powers with respect to shareholders and preinsolvency phase. We use cluster analysis to identify and group countries according to two prevalent types of bank bankruptcy frameworks: a court-led and administrative bank bankruptcy regime. Administrative bank bankruptcy regimes are associated with less court involvement in the resolution process, less likely forbearance, a higher possibility of court appeal, greater availability of supervisory tools, weaker supervisory powers with respect to managers and stronger supervisory powers with respect to shareholders, and a preinsolvency phase as opposed to the court-led bank bankruptcy regimes. Administrative bank bankruptcy regimes are also associated with fewer creditor rights, less government effectiveness, and lower institutional quality than court-led bank bankruptcy regimes. We find some evidence that the type and main dimensions of a bank bankruptcy regime are related to the occurrence and severity of the global financial crisis.