Bank-affiliated funds contribute to funding their parent banks in times of crisis

A study published recently in the journal Review of Financial Studies by the researchers Javier Gil-Bazo, Sergio Mayordomo and Peter Hoffmann, shows clear evidence that in Spain, bank-affiliated funds provided funding support to their parent company via purchases of bonds in the primary market during the last crisis (2008-2012). Cost-benefit calculation by conglomerates The research […]