Monitored finance, liquidity, and institutional investment choice

Andrew Winton

No 9616, Working Papers (Old Series) from Federal Reserve Bank of Cleveland

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.

Keywords: Financial institutions; Liquidity (Economics) (search for similar items in EconPapers)
Date: 1996
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