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What’s Common to Relationship Banking and Relationship Investing? Reflections within the Contractual Theory of the Firm

Neuberger, Doris - EconWPA - 2005

-bank institutional investors. The present paper examines to what extent this implies a substitution of relationship finance by arm …’s length finance or just of one form of relationship finance by another. Within the contractual theory of the firm, we seek … complements rather than substitutes to finance and control firms with different redeployability and information opaqueness of …

Persistent link: https://www.econbiz.de/10005134639

What’s Common to Relationship Banking and Relationship Investing? Reflections within the Contractual Theory of the Firm

Neuberger, Doris - EconWPA - 2005

paper examines whether this implies a substitution of relationship finance by arm’s length finance or of firm … advantages depend on two kinds of asset specificity. They are complements to finance and control firms with different …

Persistent link: https://www.econbiz.de/10005134668

Central counterparty clearing: constructing a framework for evaluation of risks and benefits

Ripatti, Kirsi - EconWPA - 2005

A Central Counterparty (CCP) is an entity that interposes itself between transacting counterparties – a seller vis-à-vis the original buyer and a buyer vis-àvis the original seller – to quarantee execution of the transaction. Thus, the original transacting parties substitute their...

Persistent link: https://www.econbiz.de/10005134670

A descriptive analysis of the Finnish treasury bond market 1991–1999

Keloharju, Matti; Malkamäki, Markku; Nyborg, Kjell G.; … - EconWPA - 2004

This paper presents a descriptive analysis of the primary and secondary market for Finnish treasury bonds. The paper focuses on three issues. First, we report basic descriptive statistics such as auction volumes and secondary market yields and volumes. Second, we estimate the revenues earned by...

Persistent link: https://www.econbiz.de/10005134696

Common Structures of Asset-Backed Securities and Their Risks

Sabarwal, Tarun - EconWPA - 2005

In recent years, one area of growing concern in corporate governance is the accounting and transfer of risk using special purpose entities (or trusts). Such entities are used widely in issuing asset-backed securities. This paper provides an overview of the asset-backed securities market, and...

Persistent link: https://www.econbiz.de/10005134710

Equilibrium in financial markets with adverse selection

Takalo, Tuomas; Toivanen, Otto - EconWPA - 2004

invest as entrepreneurs or financiers, or not to invest. We show that often a lack of outside finance leads to the emergence … of financial markets where availability of outside finance leads to autarky. We find that i) there exist Pareto …

Persistent link: https://www.econbiz.de/10005134723

Business cycle effects on Portfolio Credit Risk: scenario generation through Dynamic Factor analysis

cipollini, rea; missaglia, giuseppe - EconWPA - 2005

In this paper, we focus on measuring the risk associated to a bank loan portfolio. In particular, we depart from the standard one factor model representation of portfolio credit risk. In particular, we consider an hetrogeneous portfolio, and we account for stochastic dependent recoveries. We...

Persistent link: https://www.econbiz.de/10005134746

Caught On Tape: Predicting Institutional Ownership With Order Flow

Campbell, John; Ramadorai, Tarun; Vuolteenaho, Tuomo - EconWPA - 2004

Many questions about institutional trading behavior can only be answered if one can track institutional equity ownership continuously, yet institutional ownership data are only available on quarterly reporting dates. We infer institutional trading behavior from the “tape”, the Transactions...

Persistent link: https://www.econbiz.de/10005134775

INDIAN VENTURE CAPITALISTS (VCs) INVESTMENT EVALUATION CRITERIA

Mishra, Asim - EconWPA - 2005

The Venture capital (VC) industry in India is of recent origin. However, the average investment value of each deal in India have grown from $3.85 million in 2000 to $7.89 million in 2001.These developments together with the recent steps taken by government to promote venture capitalism in India...

Persistent link: https://www.econbiz.de/10005134795

What’s Common to Relationship Banking and Relationship Investing? Reflections within the Contractual Theory of the Firm

Neuberger, Doris - EconWPA - 2005

Persistent link: https://www.econbiz.de/10005134829