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The role of games in security design

Harris, Milton - In: The review of financial studies 8 (1995) 2, pp. 327-367

Persistent link: https://www.econbiz.de/10001184650

Incentive compatible financial contracts, asset prices, and the value of control

Lacker, Jeffrey Malcolm - In: Journal of financial intermediation 1 (1990) 1, pp. 31-56

Persistent link: https://www.econbiz.de/10001089873

Optimal financial contracts with hidden effort, unobservable profits and endogenous costs of effort

Dang, Viet Anh - In: The quarterly review of economics and finance : journal … 50 (2010) 1, pp. 75-89

Persistent link: https://www.econbiz.de/10008689012

Portfolio liquidation and security design with private information

DeMarzo, Peter M.; Frankel, David M.; Jin, Yu - 2015 - This Revision: November 7, 2015

sales of the senior and junior tranche structures that are typical of asset-backed securities. We show that, when the … securities are designed ex ante, splitting a given security into distinct tranches always increases the issuer's payoff. We … debt contract is given by a simple differential equation. We establish the robustness of this limit result by showing that …

Persistent link: https://www.econbiz.de/10011862114

Optimal design of securities under asymmetric information

Nachman, David C. - In: The review of financial studies 7 (1994) 1, pp. 1-44

Persistent link: https://www.econbiz.de/10001161001

The liquidity service of benchmark securities

Yuan, Kathy - In: Journal of the European Economic Association 3 (2005) 5, pp. 1156-1180

Persistent link: https://www.econbiz.de/10003101753

Opacity and Liquidity

Stenzel, André - 2014

We present a model that links the opacity of an asset to its liquidity. While low opacity assets are liquid, intermediate levels of opacity provide incentives for investors to acquire private information, causing adverse selection and illiquidity. High opacity, however, benefits liquidity by...

Persistent link: https://www.econbiz.de/10013062008

Opacity and Liquidity

Stenzel, André - 2014

Persistent link: https://www.econbiz.de/10013062340

Portfolio Liquidation and Security Design with Private Information

DeMarzo, Peter M. - 2011

I consider the problem faced by an issuer holding a portfolio of securities that can be sold to raise cash. The issuer … has private information that affects the value of all of the securities held, and so faces a lemons problem in the market … for the securities. On the other hand, the issuer bears a retention cost if the securities are not sold. An equilibrium …

Persistent link: https://www.econbiz.de/10013126178

Discussion of "Information and liquidity"

Rocheteau, Guillaume - In: Journal of money, credit and banking : JMCB 43 (2011) 7, pp. 379-384

Persistent link: https://www.econbiz.de/10009349298