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Finanzintermediaere - Groessennachteile und Spezialisierungsvorteile

Author

Listed:
  • Michael Breuer

    (Socioeconomic Institute, University of Zurich)

Abstract

Fuer das Entstehen von Finanzintermediaeren existieren in der theoretischen Literatur zahlreiche ueberzeugende Begruendungen, die konsequent zu Ende gedacht allerdings auf einen Finanzintermediaer als natuerliches Monopol hinauslaufen. Beitraege, die Grenzen fuer das Wachstum von Finanzintermediaeren aufzeigen, sind indessen selten. Das vorliegende Papier baut auf einem Modell von Millon und Thakor auf. Die betrachteten Akteure sind die einzelnen Informationsagenten (z.B. Sachbearbeiter) des Finanzintermediaers, die einen gewissen Aufwand fuer das Sammeln von Informationen ueber ihre Kunden betreiben muessen. Zu einer freiwilligen und oekonomisch sinnvollen Zusammenarbeit zwischen ihnen kommt es nur dann, wenn sie im Rahmen ihrer Zusammenarbeit Informationsteilung betreiben koennen. Die wesentlichen neuen Ergebnisse des vorliegenden Beitrags sind, dass es unter heterogenen Informationsagenten nur zu Gruppenbildungen von recht homogenen (spezialisierten) Agenten kommen wird. Zugleich bestehen aber dynamische Anreizwirkungen, durch welche eben diese Homogenitaet innerhalb eines Finanzintermediaers bedroht wird. Die dynamischen Anreizwirkungen innerhalb eines Finanzintermediaers sind nicht nur fuer die begrenzte Groesse von Finanzintermediaeren verantwortlich, sondern koennen sogar den Keim fuer eine spaetere Aufspaltung oder Aufloesung von Finanzintermediaeren bilden.

Suggested Citation

  • Michael Breuer, 2001. "Finanzintermediaere - Groessennachteile und Spezialisierungsvorteile," SOI - Working Papers 0103, Socioeconomic Institute - University of Zurich.
  • Handle: RePEc:soz:wpaper:0103
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    References listed on IDEAS

    as
    1. Cerasi, Vittoria & Daltung, Sonja, 2000. "The optimal size of a bank: Costs and benefits of diversification," European Economic Review, Elsevier, vol. 44(9), pages 1701-1726, October.
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    More about this item

    Keywords

    financial intermediaries; economies of scale;

    JEL classification:

    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • G20 - Financial Economics - - Financial Institutions and Services - - - General

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