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Option Happiness and Liquidity : Is the Dynamics of the Volatility Smirk Affected by Relative Option Liquidity?

Norden, Lars L.; Xu, Caihong - 2009

relative index option liquidity. We find that, on a daily basis, option happiness is significantly dependent on the relative … liquidity between option series with different moneyness. In particular, the larger the difference in liquidity between an out … relative option liquidity measures based on bid-ask spreads, trading volumes and option price impacts. The results also show a …

Persistent link: https://www.econbiz.de/10014204110

Recourse and Residential Mortgage Default : Evidence from U.S. States

Ghent, Andra C.; Kudlyak, Marianna - 2011

We quantify the effect of recourse on default. We find that recourse affects default through lowering the borrower's sensitivity to negative equity. At the mean value of the default option for defaulted loans, borrowers are 30% more likely to default in non-recourse states; for homes appraised...

Persistent link: https://www.econbiz.de/10014206421

Open-end real estate funds in Germany : genesis and crisis

Bannier, Christina E.; Fecht, Falko; Tyrell, Marcel - In: Kredit und Kapital 41 (2008) 1, pp. 9-36

Persistent link: https://www.econbiz.de/10003715843

Rediscounting under aggregate risk with moral hazard

Chapman, James (contributor); Martin, Antoine (contributor) - 2007

Freeman (1999) proposes a model in which discount window lending and open market operations have different effects. This is important because in most of the literature, these policies are indistinguishable. However, Freeman’s argument that the central bank should absorb losses associated with...

Persistent link: https://www.econbiz.de/10003590034

Typologien von Unternehmenskrisen im Wandel

Hauschildt, Jürgen; Grape, Christian; Schindler, Marc - In: Die Betriebswirtschaft : DBW 66 (2006) 1, pp. 7-25

Persistent link: https://www.econbiz.de/10003270655

Renascent entrepreneurship

Stam, Erik (contributor); Audretsch, David B. (contributor); … - 2006

Persistent link: https://www.econbiz.de/10003305797

Do reorganization costs matter for efficiency? : evidence from a bankruptcy reform in Colombia

Giné, Xavier; Love, Inessa - 2006

Persistent link: https://www.econbiz.de/10003371369

The adjustment of credit ratings in advance of defaults

Güttler, André; Wahrenburg, Mark - In: Journal of banking & finance 31 (2007) 3, pp. 751-767

Persistent link: https://www.econbiz.de/10003429774

Bankruptcy Decision Making

Baird, Douglas G.; Morrison, Edward R. - 2016

When a firm encounters financial distress, there is a significant possibility that, at some point, the firm itself should be shut down and its assets put to a better use. But Chapter 11 and indeed all market-mimicking reorganization regimes other than a speedy auction entrust the shutdown...

Persistent link: https://www.econbiz.de/10014129795

The Effect of Bankruptcy Reform on the Number of Corporate Reorganization Proposals

Fisher, Timothy C. G.; Martel, Jocelyn - 2005

One of the major aims of the 1992 reform to bankruptcy law in Canada was to increase the number of reorganization proposals. The purpose of this paper is to analyze the number of reorganization proposals filed by companies in Toronto and Montreal before and after bankruptcy reform to see whether...

Persistent link: https://www.econbiz.de/10014138393