Why Bank Equity Is Not Expensive
发布时间 2011-06-09 20:45:22 来源
摘要
"Quite simply, bank equity is not expensive from a social perspective, and high leverage is not required in order for banks to perform all their socially valuable functions, including lending, taking deposits, and issuing money-like securities," professors Anat R. Admati, Peter M. DeMarzo, and Paul C. Pfleiderer wrote in a paper presented at the Stanford Finance Forum. (A fourth coauthor, Martin F. Hellwig of the Max Planck Institute, was not present.)
Related Links
Why Bank Equity Is Not Expensive: http://www.gsb.stanford.edu/news/research/admati_equity.html
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