دانلود مقاله ISI انگلیسی شماره 80266
ترجمه فارسی عنوان مقاله

ارتباطات سیاسی، ساختار مالکیت و نارسایی موسسه مالی

عنوان انگلیسی
Political connections, ownership structure, and financial institution failure
کد مقاله سال انتشار تعداد صفحات مقاله انگلیسی
80266 2012 15 صفحه PDF
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : Journal of Multinational Financial Management, Volume 22, Issues 1–2, April 2012, Pages 39–53

ترجمه کلمات کلیدی
ساختار مالکیت متمرکز؛ ارتباطات سیاسی؛ مدل پیش بینی شکست؛ شکنندگی بخش مالی؛ سیستم های هشدار دهنده؛ بحران مالی شرق آسیا
کلمات کلیدی انگلیسی
G32; G33; G34; G38Concentrated ownership structure; Political connections; Failure prediction model; Financial sector fragility; Early warning systems; East Asian financial crisis
پیش نمایش مقاله
پیش نمایش مقاله  ارتباطات سیاسی، ساختار مالکیت و نارسایی موسسه مالی

چکیده انگلیسی

Thailand was at the origin of the Asian financial crisis of 1997. Our research seeks to understand what economic and political factors contributed to the collapses of Thailand's financial institutions during the crisis. The distinctive feature of our model is that it incorporates variables for ownership structure as well as political connections in addition to the traditional financial variables. Foreign-owned financial institutions were less likely to fail. The probability of failure is also inversely related to the control rights of the largest shareholder. Finally, there is evidence of the too-big-to-fail (TBTF) policy. Our results are important because they demonstrate that traditional models, especially when applied to emerging economies, can be enhanced by incorporating variables related to ownership structure as well as political connections.