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Is relationship lending special? Evidence from credit-file data in Germany
Elsas, Ralf; Krahnen, Jan Pieter - Center for Financial Studies - 1998
The German financial market is often characterized as a bank-based system with strong bank-customer relationships. The corresponding notion of a housebank is closely related to the theoretical idea of relationship lending. It is the objective of this paper to provide a direct comparison between...
Persistent link: https://www.econbiz.de/10010958765
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The Basle scuritisation framework explained: The regulatory treatment of asset securitisation
Jobst, Andreas A. - Center for Financial Studies - 2005
The paper provides a comprehensive overview of the gradual evolution of the supervisory policy adopted by the Basle Committee for the regulatory treatment of asset securitisation. We carefully highlight the pathology of the new securitisation framework to facilitate a general understanding of...
Persistent link: https://www.econbiz.de/10010986448
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Tying lending and underwriting: Scope economies, incentives, and reputation
Laux, Christian; Walz, Uwe - Center for Financial Studies - 2006
in investment banking when universal banks compete against each other. We derive several empirical predictions regarding … sword for universal banks. It helps to compete against specialized investment banks, but it can reduce the rent to be earned …
Persistent link: https://www.econbiz.de/10010958604
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Is rated debt arm's length? Evidence from mergers and acquisitions
Gropp, Reint; Hirsch, Christian; Krahnen, Jan Pieter - Center for Financial Studies - 2011
borderline between investment grade and junk. Finally, we are able to empirically exclude a large number of alternative …
Persistent link: https://www.econbiz.de/10010958748
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The Basle Securitisation Framework Explained: The Regulatory Treatment of Asset Securitisation
Jobst, Andreas - Center for Financial Studies - 2004
The paper provides a comprehensive overview of the gradual evolution of the supervisory policy adopted by the Basle Committee for the regulatory treatment of asset securitisation. We carefully highlight the pathology of the new “securitisation framework” to facilitate a general understanding...
Persistent link: https://www.econbiz.de/10005022417
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Tying Lending and Underwriting: Scope Economies, Incentives, and Reputation
Laux, Christian; Walz, Uwe - Center for Financial Studies - 2006
in investment banking when universal banks compete against each other. We derive several empirical predictions regarding … sword for universal banks. It helps to compete against specialized investment banks, but it can reduce the rent to be earned …
Persistent link: https://www.econbiz.de/10005176441
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Do consumers choose the right credit contracts?
Agarwal, Sumit; Chomsisengphet, Souphala; Liu, Chunlin; … - Center for Financial Studies - 2005
A number of studies have pointed to various mistakes that consumers might make in their consumption-saving and financial decisions. We utilize a unique market experiment conducted by a large U.S. bank to assess how systematic and costly such mistakes are in practice. The bank offered consumers a...
Persistent link: https://www.econbiz.de/10010958552
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Credit market competition and capital regulation
Allen, Franklin; Carletti, Elena; Marquez, Robert - Center for Financial Studies - 2005
Market discipline for financial institutions can be imposed not only from the liability side, as has often been stressed in the literature on the use of subordinated debt, but also from the asset side. This will be particularly true if good lending opportunities are in short supply, so that...
Persistent link: https://www.econbiz.de/10010958587
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Credit information in universal banking: A clinical study
Burghof, Hans-Peter; Henschel, Claudia - Center for Financial Studies - 1998
, whereas the direct observation of the firm's investment outlook seems to be very costly. Also, too much knowledge about the … firm's investments might leave the bank in a very strong bargaining position and distort investment incentives. Therefore …, the traditional view of credit assessment as observation of the quality of a borrower's investment programme needs to be …
Persistent link: https://www.econbiz.de/10010958602
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Credit risk transfer and contagion
Allen, Franklin; Carletti, Elena - Center for Financial Studies - 2005
with banking and insurance sectors, we show that credit risk transfer can be beneficial when banks face uniform demand for …
Persistent link: https://www.econbiz.de/10010958684