昆士兰大学 金融市场经济学教学课件Lecture 7 Banking and the Management of Financial Institutions.pdfVIP

Economics of Financial Markets – Lecture 7 Nhan Phan School of Economics Review: Concepts from Last Week • Principal agent problem • Moral hazard • Equity contract • Asymmetric information • Basic facts about financial structure • Adverse selection • Agency theory • Lemons problem • Monitoring (Costly state verification) • Collateral • Restrictive covenants Preview •We examine how banks attempt to maximize their profits. •Although the discussion that follows focuses primarily on commercial banks, many of the sam