Les effets de la réglementation sur la valorisation des banques et leur incitation à la prise de risque
Abstract
[fre] Après avoir rappelé le rôle d'assurance de liquidité imparti aux banques, on cherche à évaluer dans quelle mesure l'organisation et la réglementation bancaires affaiblissent la discipline de marché, et provoquent des distorsions qui valorisent les banques, mais en même temps sont à l'origine d'effets incitatifs positifs et les rendent prudentes, tandis que leur dévalorisation sous l'effet de la déréglementation est au contraire favorable à la prise de risque. L'étude empirique menée sur un panel de banques françaises cotées en bourse au travers, notamment, de leur ratio q de Tobin montre que leur valeur d'agrément s'est effritée en même temps que leur pouvoir de marché, ce qui peut expliquer leurs difficultés récentes et la dégradation de l'efficacité du dispositif français de solidarité de place.Download Info
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Article provided by Programme National Persée in its journal Revue française d'économie.
Volume (Year): 11 (1996)
Issue (Month): 4 ()
Pages: 37-82
Note: DOI:10.3406/rfeco.1996.1008
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Web page: http://www.persee.fr/web/revues/home/prescript/revue/rfeco
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