Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/127838 
Erscheinungsjahr: 
2004
Schriftenreihe/Nr.: 
PIDS Discussion Paper Series No. 2004-17
Verlag: 
Philippine Institute for Development Studies (PIDS), Makati City
Zusammenfassung: 
This paper attempts to examine the performances of Asian AMCs. Our analysis reveals that the AMCs vary significantly in their design and performances. We claim that AMCs can trigger moral hazard-inspired bank lending, especially when the mode of NPL transfer from banks to AMC entails little cost to banks. Empirical examination of Thai experience of AMCs reveals that the moral hazard–inspired bank lending resulted in creating more new NPLs in the case of public AMCs. On the other hand, the new centralized AMC, the Thai Asset Management Company (TAMC) decreases the new NPL ratio, suggesting that TAMC provokes no adverse moral hazard effect on financial institutions. In addition, we find that the same institutional consideration significantly decreases new NPL in foreign banks and finance companies. The former because they are generally considered better managed, and the latter because they are the institutions that survived the Asian crisis, and hence the more viable and presumably better run finance companies.
Schlagwörter: 
Asian financial crisis
bank restructuring
asset management company (AMC)
Thailand
moral hazard
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
368.68 kB





Publikationen in EconStor sind urheberrechtlich geschützt.