This paper investigates whether securitizations placed by banks affect competition among Italian credit institutions. Our hypothesis is that banks may use securitization to gain competitive ad-vantages. After testing for the presence of non-random selection bias, we compare the degree of competition among several groups of banks, identified in relation to their involvement in securitization, in the years 2000-2006. To measure banks’ degree of competition, we employ the methodology developed by Panzar and Rosse (1987). Our main finding is that, after placing securitization, Italian banks have moved toward a perfectly competitive benchmark.

Cartolarizzazioni e competizione nel settore bancario italiano. Un'analisi empirica

Agostino M.;Mazzuca M.;Trivieri F.
2011-01-01

Abstract

This paper investigates whether securitizations placed by banks affect competition among Italian credit institutions. Our hypothesis is that banks may use securitization to gain competitive ad-vantages. After testing for the presence of non-random selection bias, we compare the degree of competition among several groups of banks, identified in relation to their involvement in securitization, in the years 2000-2006. To measure banks’ degree of competition, we employ the methodology developed by Panzar and Rosse (1987). Our main finding is that, after placing securitization, Italian banks have moved toward a perfectly competitive benchmark.
2011
cartolarizzazione; competitività nel settore bancario ; statistica H di Panzar e Rosse
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/20.500.11770/151042
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