Geographic Diversification and Banks’ Funding Costs
Publication in refereed journal
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香港中文大學研究人員
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摘要We assess the impact of geographic diversification on a bank’s costs of interest-bearing liabilities. We employ a new identification strategy and discover that geographic expansion across U.S. states lowered funding costs. Consistent with expansion facilitating risk diversification, we find that (1) funding costs fall more when banks expand into states whose economies are less correlated with banks’ headquarter-state and (2) geographic diversification reduces the costs of uninsured, but not insured, deposits. Consistent with expansion intensifying agency frictions, which puts upward pressures on funding costs, we discover that geographic diversification reduces the costs of interest-bearing liabilities more in better-monitored banks.
出版社接受日期10.12.2019
著者Ross Levine, Chen Lin, Wensi Xie
期刊名稱Management Science
出版年份2019
國際標準期刊號0025-1909
電子國際標準期刊號1526-5501
語言美式英語

上次更新時間 2021-13-01 於 23:24