Similar Search Results

Bougheas, Spiros - 2012

Traditionally banks have used securitization for expanding credit and thus their profitability. It has been well …-rated tranche. This paper builds a simple model of securitization that accounts for the above retention strategies. Banks in the …

Persistent link: https://www.econbiz.de/10010283592

Securitization of mortgage debt, asset prices and international risk sharing

Hoffmann, Mathias; Nitschka, Thomas - 2009

We explore the impact of mortgage securitization on the international diversification of macroeconomic risk. By making … mortgage-related risks internationally tradeable, securitization contributes considerably to better international consumption … countries that do not allow for mortgage securitization. Our results are based on quarterly data from a panel of 16 …

Persistent link: https://www.econbiz.de/10010264540

The Financial and Non-Financial Performance of Token-Based Crowdfunding : Certification Arbitrage, Investor Choice, and the Optimal Timing of ICOs

Dombrowski, Niclas; Drobetz, Wolfgang; Hornuf, Lars; … - 2023

financial and operating performance are consistent with our theory of certification arbitrage; i.e., institutional investors use … investigate the operating and financial performance of ventures conducting ICOs with different types of investors at different …-backed ICO ventures exhibit poorer operating performance and fail earlier. However, conditional on their survival, these ventures …

Persistent link: https://www.econbiz.de/10014355191

Bank Capital Regulation with an Opportunistic Rating Agency

Efing, Matthias - 2013

This paper models the strategic interaction between a rating agency, a bank and a bank regulator who lacks information about bank asset risk. The regulator can either (1) make bank capital requirements contingent on credit ratings; or (2) set rating-independent capital requirements. Truthful...

Persistent link: https://www.econbiz.de/10010316997

On the preferences of CoCo bond buyers and sellers: a logistic regression analysis

Caporale, Guglielmo Maria; Kang, Woo-Young - 2019

This paper estimates the preference scores of CoCo bond buyers and sellers by running logistic regressions taking into account both bond and issuing bank’s characteristics, and also considers the role of country−specific CoCo bond market competitiveness. Buyers are found to be characterised...

Persistent link: https://www.econbiz.de/10012018242

Marketplace Lending of SMEs

Cumming, Douglas J.; Hornuf, Lars - 2020

Peer-to-business lending refers to online platforms facilitating loans from individuals to smalland medium-sized enterprises (SMEs). We conjecture that easy-to-understand risk ratings conveyed by the platform play a pronounced role in influencing the borrowing success of SMEs and that more...

Persistent link: https://www.econbiz.de/10012179899

Marketplace Lending of SMEs

Cumming, Douglas J. - 2020

Peer-to-business lending refers to online platforms facilitating loans from individuals to small and medium-sized enterprises (SMEs). We conjecture that easy-to-understand risk ratings conveyed by the platform play a pronounced role in influencing the borrowing success of SMEs and that more...

Persistent link: https://www.econbiz.de/10012841146

On the Preferences of CoCo Bond Buyers and Sellers

Caporale, Guglielmo Maria - 2020

This paper estimates the preference scores of CoCo bond buyers and sellers by running multinomial logistic regressions taking into account both bond and issuing banks' characteristics; it also provides evidence on the role of country−specific CoCo bond market concentration. Buyers are defined...

Persistent link: https://www.econbiz.de/10012849808

Holes in the Dike: The Global Savings Glut, U.S. House Prices and the Long Shadow of Banking Deregulation

Hoffmann, Mathias; Stewen, Iryna - 2015

We explore empirically how capital inflows into the US and financial deregulation within the United States interacted in driving the run-up (and subsequent decline) in US housing prices over the period 1990-2012. To obtain an ex ante measure of financial liberalization, we focus on the history...

Persistent link: https://www.econbiz.de/10010531822

Investment Shocks, Tax Evasion and the Consumption Puzzle: A DSGE Analysis with Financial Frictions

Chiarini, Bruno; Ferrara, Maria; Marzano, Elisabetta - 2016

This paper contributes to the GDP-consumption comovement puzzle literature investigating the role of tax evasion in explaining the consumption path after a Marginal Efficiency of Investment shock. We use an otherwise standard medium-scale New Keynesian DSGE model combining tax evasion with...

Persistent link: https://www.econbiz.de/10011522515