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Konstruktion einer Anleihe mit hypothekarischer Besicherung

Alram, Johannes - 2009

This work describes the legal structuring of a mortgage covered bond in accordance with the regulations of paragraphs … rights of the bond holders according to the regulations of the German Statue Governing Common Rights of Owners of Debt … Securities (Schuldverschreibungsgesetz). Furthermore, the work describes how the bond creditors shall have preferences of the …

Persistent link: https://www.econbiz.de/10010298959

Exploring the CDS-Bond Basis

De Wit, Jan - 2006

. Nonetheless, the average CDS-bond basis (i.e. the difference between both measures) is positive in the period 2004-2005. We detect …

Persistent link: https://www.econbiz.de/10011506625

Are Banks Different? Evidence from International Data

Buch, Claudia M. - 2000

paper presents a simple model on the choice between bank debt and bond finance which builds on Rajan (1992), and it uses two … new datasets to test the implications, focusing on bilateral cross-border bank claims and bond holdings. We find support …

Persistent link: https://www.econbiz.de/10010260449

A note on the valuation of risky corporate bonds

Schöbel, Rainer - 1997

Simple formulas for the price of corporate discount and coupon bonds are found using the Longstaff and Schwartz valuation approach for the debt claims of a firm, where default is triggered by a special State variable: the firm's asset-to-debt-ratio. Instead of keeping the total amount of debt...

Persistent link: https://www.econbiz.de/10010435546

Corporate credit and leverage in the EU: Recent evolution, main drivers and financial stability implications

Beck, Thorsten; Peltonen, Tuomo; Perotti, Enrico C.; … - 2023

This report presents a long-term view of the evolution of financing of EU non-financial corporations (NFCs) in recent decades. It finds a decline in NFC leverage since at least 2008, and across countries, size categories and industries. It also documents a growing role of non-bank financial...

Persistent link: https://www.econbiz.de/10014327946

Capital Structure and Regulation: Does Ownership Matter?

Cambini, Carlo; Bortolotti, Bernardo; Rondi, Laura; … - 2007

We construct a comprehensive panel data of 96 publicly traded European utilities over the period 1994-2005 in order to study the relationship between the capital structure of regulated firms, regulated prices, and investments, and examine if and how this interaction is affected by ownership...

Persistent link: https://www.econbiz.de/10010312393

Managerial incentives and the efficiency of capital structure

Hughes, Joseph P.; Lang, William W.; Moon, Choon-Geol; … - 2001

We extend the literature on the effects of managerial entrenchment on capital structure to consider how safety-net subsidies and financial distress costs interact with managerial incentives to influence capital structure in U.S. commercial banking. Using cross-sectional data on publicly traded,...

Persistent link: https://www.econbiz.de/10010318364

Leasing by small enterprises

Neuberger, Doris; Räthke-Döppner, Solvig - 2012

Using internal data of a leasing company in Germany, we examine the determinants of the probability and use of leasing by small firms. We find that small and young firms are likely to be constrained on the leasing market but use leasing to increase their debt capacity. Beyond contract- and...

Persistent link: https://www.econbiz.de/10010319296

Mental Accounting in the Housing Market

Almenberg, Johan; Karapetyan, Artashes - 2009

We use a survey to identify a consumer bias with regard to different sources of debt-financing. Less salient debt may generate psychological benefits. This should be weighed against the possible economic costs of a sub-optimal capital structure; but low levels of financial literacy make it...

Persistent link: https://www.econbiz.de/10010320263

The Relationship between Bank Capital, Risk-Taking, and Capital Regulation: A Review of the Literature

Stolz, Stéphanie - 2002

Bank capital regulation seems to be today's most accepted regulatory instrument. The reasoning is that limited liability and deposit insurance appear to give banks incentives for excessive risk-taking. Capital requirements can alleviate this problem as banks are obliged to hold more capital...

Persistent link: https://www.econbiz.de/10010260495