Streitz, Daniel - Sonderforschungsbereich 649: Ökonomisches Risiko, … - 2015
We analyze the impact of CDS trading on bank syndication activity. Theoretically, the effect of CDS trading is ambiguous: on the one hand, CDS can improve risksharing and hence be a more flexible risk management tool than loan syndication; on the other hand, CDS trading can reduce bank...