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Experience of Asian Asset Management Companies (AMCs): Do they Increase Moral Hazard? - Evidence from Thailand

Listed author(s):
  • Akiko Terada-Hagiwara

    (Asian Development Bank)

  • Gloria Pasadilla

    (Philippines Institute for Development Study)

This paper examines the performances of Asian asset management companies (AMCs). The analysis reveals that AMCs vary in their design and performance. Asset management companies can trigger moral hazard- inspired bank lending. Empirical examination of the Thai experience reveals that the moral hazard-inspired bank lending resulted in creating more new NPLs in the case of public asset management companies. Alternatively, the centralized Thai Asset Management Company (TAMC) decreases the new NPL ratio, suggesting that TAMC provokes no adverse moral hazard effect on financial institutions.

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Paper provided by EconWPA in its series Finance with number 0410001.

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Length: 41 pages
Date of creation: 04 Oct 2004
Handle: RePEc:wpa:wuwpfi:0410001
Note: Type of Document - pdf; pages: 41
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