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Monitored finance, liquidity, and institutional investment choice

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  • Andrew Winton

Abstract

A presentation of a model predicting that debt or similar claims will dominate the portfolios of institutions that specialize in providing monitored finance. Among these institutions, those with greater liquidity needs should hold fewer monitored equity positions, make less risky loans, and monitor less intensively.

Suggested Citation

  • Andrew Winton, 1996. "Monitored finance, liquidity, and institutional investment choice," Working Papers (Old Series) 9616, Federal Reserve Bank of Cleveland.
    • Handle: RePEc:fip:fedcwp:9616
    DOI: 10.26509/frbc-wp-199616
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    References listed on IDEAS

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