Similar Search Results

The role of accounting in the German financial system

Leuz, Christian; Wüstemann, Jens - Center for Financial Studies - 2003

This chapter analyzes the role of financial accounting in the German financial system. It starts from the common … perception that German accounting is rather uninformative. This characterization is appropriate from the perspective of an arms … perspective is adopted. The German accounting system exhibits several arrangements that privately communicate information to …

Persistent link: https://www.econbiz.de/10010986429

The Role of Accounting in the German Financial System

Leuz, Christian; Wüstemann, Jens - Center for Financial Studies - 2003

This chapter analyzes the role of financial accounting in the German financial system. It starts from the common … perception that German accounting is rather "uninformative". This characterization is appropriate from the perspective of an arm … perspective is adopted. The German accounting system exhibits several arrangements that privately communicate information to …

Persistent link: https://www.econbiz.de/10005120790

Default risk sharing between banks and markets: The contribution of collateralized debt obligations

Franke, Günter; Krahnen, Jan Pieter - Center for Financial Studies - 2005

This paper contributes to the economics of financial institutions risk management by exploring how loan securitization a.ects their default risk, their systematic risk, and their stock prices. In a typical CDO transaction a bank retains through a first loss piece a very high proportion of the...

Persistent link: https://www.econbiz.de/10010986468

Hold-up in multiple banking: Evidence from SME lending

Brunner, Antje; Krahnen, Jan Pieter - Center for Financial Studies - 2010

This paper analyzes loan pricing when there is multiple banking and borrower distress. Using a unique data set on SME lending collected from major German banks, we can instrument for effective coordination between lenders, carrying out a panel estimation. The analysis allows to distinguish...

Persistent link: https://www.econbiz.de/10010958524

Der Handel von Kreditrisiken: Eine neue Dimension des Kapitalmarktes

Krahnen, Jan Pieter - Center for Financial Studies - 2005

This paper makes an attempt to present the economics of credit securitization in a nontechnical way, starting from the description and the analysis of a typical securitization transaction. The paper sketches a theoretical explanation for why tranching, or nonproportional risk sharing, which is...

Persistent link: https://www.econbiz.de/10010958581

Household economic decisions under the shadow of terrorism

Christelis, Dimitris; Georgarakos, Dimitris - Center for Financial Studies - 2009

We investigate, using the 2002 US Health and Retirement Study, the factors influencing individuals' insecurity and expectations about terrorism, and study the effects these last have on households' portfolio choices and spending patterns. We find that females, the religiously devout, those...

Persistent link: https://www.econbiz.de/10010958603

Multiple lenders and corporate distress: Evidence on debt restructuring

Brunner, Antje; Krahnen, Jan Pieter - Center for Financial Studies - 2006

In the recent theoretical literature on lending risk, the coordination problem in multi-creditor relationships have been analyzed extensively. We address this topic empirically, relying on a unique panel data set that includes detailed credit-file information on distressed lending relationships...

Persistent link: https://www.econbiz.de/10010958807

Der Handel von Kreditrisiken: Eine neue Dimension des Kapitalmarktes

Krahnen, Jan Pieter - Center for Financial Studies - 2005

This paper makes an attempt to present the economics of credit securitization in a non-technical way, starting from the description and the analysis of a typical securitization transaction. The paper sketches a theoretical explanation for why tranching, or nonproportional risk sharing, which is...

Persistent link: https://www.econbiz.de/10005022450

Default Risk Sharing Between Banks and Markets: The Contribution of Collateralized Debt Obligations

Franke, Günter; Krahnen, Jan Pieter - Center for Financial Studies - 2005

Persistent link: https://www.econbiz.de/10005120778

Mark-to-market accounting and liquidity pricing

Allen, Franklin; Carletti, Elena - Center for Financial Studies - 2006

amount of liquidity available in the market rather than the future earning power of the asset. Mark-to-market accounting is … are insolvent. In contrast, if historic cost accounting is used, banks are allowed to continue and can meet all their … future liabilities. Mark-to-market accounting can thus lead to contagion where none would occur with historic cost accounting. …

Persistent link: https://www.econbiz.de/10010986447