Several papers argue that franchise value works to reduce the moral hazard problem by increasing the cost of bankruptcy, so it acts as a disciplinary device against risk-taking.
许多研究文献证明：特许权价值能通过提高银行破产成本从而降低道德风险，因而其发挥着银行风险自律器的作用。
Several papers argue that franchise value works to reduce the moral hazard problem by increasing the cost of bankruptcy, so it acts as a disciplinary device against risk-taking.
许多研究文献证明：特许权价值能通过提高银行破产成本从而降低道德风险，因而其发挥着银行风险自律器的作用。
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