RT Journal Article
T1 Are Charter Value and Supervision Aligned? A Segmentation Analysis.
A1 Aparicio, Juan
A1 Durán-Muñoz, Miguel Ángel
A1 Lozano-Vivas, Ana María
A1 Pastor, Jesús T.
K1 Bancos - Supervisión del Estado
K1 Gestión de activos y pasivos
AB Previous work suggests that the charter value hypothesis is theoretically grounded and empirically supported, but not universally. Accordingly, this paper aims to perform an analysis of the relations between charter value, risk taking, and supervision, taking into account the relations’ complexity. Specifically, using the CAMELS rating system as a general framework for supervision, we study how charter value relates to risk and supervision by means of classification and regression tree analysis. The sample covers the period 2005–2016 and consists of listed banks in countries that were members of the Eurozone when it came into existence, along with Greece. To evaluate the crisis consequences, we also separately analyze four subperiods and countries that required financial aid from third parties and those that did not so, along with large and small banks. Our results reflect the complexity of the relations between charter value, supervision, and risk. Indeed, supervision and charter value seem aligned regarding only some types of risk.
PB Elsevier
YR 2018
FD 2018-06-05
LK https://hdl.handle.net/10630/29130
UL https://hdl.handle.net/10630/29130
LA eng
NO Juan Aparicio, Miguel A. Duran, Ana Lozano-Vivas, Jesus T. Pastor, Are charter value and supervision aligned? A segmentation analysis, Journal of Financial Stability, Volume 37, 2018, Pages 60-73, ISSN 1572-3089, https://doi.org/10.1016/j.jfs.2018.05.004
NO Política de acceso abierto tomada de: https://v2.sherpa.ac.uk/id/publication/13929
NO Spanish Ministry of Economics and Competitiveness (Projects ECO2014-52345-P and MTM2016-79765-P (AEI/FEDER, UE)
DS RIUMA. Repositorio Institucional de la Universidad de Málaga
RD 21 ene 2026