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Caught between Scylla and Charybdis? : regulating bank leverage when there is rent seeking and risk shifting
Acharya, Viral V.; Mehran, Hamid; Thakor, Anjan V. - 2010 - Rev.
Banks face two different kinds of moral hazard problems: asset substitution by shareholders (e.g., making risky, negative net present value loans) and managerial rent seeking (e.g., investing in inefficient “pet” projects and consuming perquisites that yield private benefits). The privately...
Persistent link: https://www.econbiz.de/10008657183
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Crisis management at cross-roads : challenges facing cross-border financial institutions at the EU level : a joint publication with the Centre for European Policy Studies (CEPS)
Ayadi, Rym (ed.); Lierman, Frank (ed.); Balling, Morten (ed.) - Conference "Crisis Management at Cross-Roads" <2009, …; … - 2010
On 16th November 2009, SUERF, CEPS and the Belgian Financial Forum coorganized a conference "Crisis management at cross-roads" in Brussels. All papers in the present volume are based on contributions at the conference and the SUERF Annual Lecture which followed the event.
Persistent link: https://www.econbiz.de/10011706117
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Essays in finance
Carlin, Bruce Ian - 2007
Persistent link: https://www.econbiz.de/10009691370
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How do different models of foreign exchange settlement influence the risks and benefits of global liquidity management?
Schanz, Jochen (contributor) - 2009
Large, international banking groups have sought to centralise their cross-currency liquidity management: liquidity … shortages in one currency are financed using liquidity surpluses in another currency. The nature of risks to financial stability … emerging from global liquidity management depends on how these foreign exchange transactions settle. I analyse these risks in a …
Persistent link: https://www.econbiz.de/10003884728
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Liquidity management of US global banks : internal capital markets in the great recession
Cetorelli, Nicola; Goldberg, Linda S. - 2011
is the liquidity management of these banks, specifically the regular flow of funds between parent banks and their … transmission. -- bank ; global ; liquidity ; transmission ; capital markets ; crisis ; contagion …
Persistent link: https://www.econbiz.de/10009266718
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Resource allocation and organizational form
Friebel, Guido; Raith, Michael - 2009 - Rev.
We develop a theory of firm scope and structure in which merging two firms allows the integrated firm's top management to allocate resources that are costly to trade. However, information about their use resides with division managers. We show that establishing truthful upward communication...
Persistent link: https://www.econbiz.de/10003888114
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Resource allocation and firm scope
Friebel, Guido (contributor); Raith, Michael (contributor) - 2006
We develop a theory of firm scope in which integrating two firms into one facilitates the allocation of resources, but leads to weaker incentives for effort, compared with non-integration. Our theory makes minimal assumptions about the underlying agency problem. Moreover, the benefits and costs...
Persistent link: https://www.econbiz.de/10003464116
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Delegation and incentives
Bester, Helmut (contributor); Krähmer, Daniel (contributor) - 2006
This paper analyses the relation between authority and incentives. It extends the standard principal-agent model by a project selection stage in which the principal can either delegate the choice of project to the agent or keep the authority. The agent's subsequent choice of effort depends both...
Persistent link: https://www.econbiz.de/10003422618
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Access pricing : a discussion paper
King, Stephen P. - 1995
Persistent link: https://www.econbiz.de/10000928712
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Optimal contracts and contractual arrangements within the hospital : bargaining vs. take-it-or-leave-it offers
Galizzi, Matteo M.; Miraldo, Marisa - 2008
Persistent link: https://www.econbiz.de/10003671240