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A pénzügyi konglomerátumok létrejöttének kockázati hatásai
[The risk effects of the evolution of financial conglomerates]

Author

Listed:
  • Szüle, Borbála

Abstract

Az Európai Unióban a pénzügyi konglomerátumok kockázataival kapcsolatban 2005től egy új direktíva rendelkezései érvényesülnek. A pénzügyi konglomerátumok az utóbbi évtizedekben a világ számos országában a biztosítók és a különféle bankok egyre szorosabbá váló együttműködése során tulajdonosi kapcsolatok létrehozásával alakultak ki. A pénzügyi konglomerátumok megjelenésének hatásai jelenleg még nem teljeskörűen tisztázottak, és a kérdés gyakorlati - az európai uniós direktíva megalkotása által is jelzett - fontossága ellenére különösen kidolgozatlan a kialakulásukhoz kapcsolódó kockázati hatások elmélete. A tanulmány - a szakirodalomban újnak számító - elméleti keretben a pénzügyi konglomerátumok létrejöttének tranzakciós, motivációs és portfólióhatását különíti el, és ezen hatások eredőjeként a pénzügyi konglomerátumok létrehozásának a bankok és biztosítók intézményszintű stabilitására ható következményeit elemzi. Journal of Economic Literature (JEL) kód: G21, G22, G34.

Suggested Citation

  • Szüle, Borbála, 2006. "A pénzügyi konglomerátumok létrejöttének kockázati hatásai [The risk effects of the evolution of financial conglomerates]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(7), pages 661-680.
    • Handle: RePEc:ksa:szemle:858
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    References listed on IDEAS

    as
    1. Elisa Bain & Ian Harper, 2000. "Integration of Financial Services," North American Actuarial Journal, Taylor & Francis Journals, vol. 4(3), pages 1-19.
    2. Elizabeth Laderman, 2000. "The potential diversification and failure reduction benefits of bank expansion into nonbanking activities," Working Paper Series 2000-01, Federal Reserve Bank of San Francisco.
    3. Boyd, John H. & Graham, Stanley L. & Hewitt, R. Shawn, 1993. "Bank holding company mergers with nonbank financial firms: Effects on the risk of failure," Journal of Banking & Finance, Elsevier, vol. 17(1), pages 43-63, February.
    4. Lewellen, Wilbur G, 1971. "A Pure Financial Rationale for the Conglomerate Merger," Journal of Finance, American Finance Association, vol. 26(2), pages 521-537, May.
    5. Boot, Arnoud W. A. & Schmeits, Anjolein, 2000. "Market Discipline and Incentive Problems in Conglomerate Firms with Applications to Banking," Journal of Financial Intermediation, Elsevier, vol. 9(3), pages 240-273, July.
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    More about this item

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

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