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Die Krise der internationalen Finanzmärkte hat die allgemeine Wahrnehmung für die in diesen Märkten inhärenten Risiken merklich verändert. Glaubten manche Anleger in den Boomphasen der Finanzmärkte, dass sich eine hohe Kapitalrendite mit geringem Risiko verbinden ließe, wenn man nur die...
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Certifiers contribute to the sound functioning of markets by reducing asymmetric information. They, however, have been heavily criticized during the 2008-09 financial crisis. This paper investigates on which side of the market a monopolistic profit-maximizing certifier offers his service. If the...
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the standard commercial bank (henceforth standard bank), can act as a delegated monitor in the sense of the term used by … different strands in the literature. Its first subject is about competition between banks. Comprehensive surveys on bank com … banks. Second, Boot and Thakor (2000) examine whether relationship banking that involves unique bank-specific services can …
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