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Risk-taking, competition and uncertaint : do contingent convertible (CoCo) bonds increase the risk appetite of banks?
Fatouh, Mahmoud; Neamtu, Ioana; Wijnbergen, Sweder van - 2022
conversion on the risk-taking behaviour of the issuing bank. We also test for regulatory arbitrage: do banks try to maintain risk … sample selection bias, we show that CoCo bonds issuance has a strong positive e↵ect on risk-taking behaviour, particularly … amplifies the impact of CoCo bonds on risk-taking. …
Persistent link: https://www.econbiz.de/10012887890
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Entrepreneurial moral hazard in income insurance
Ejrnæs, Mette; Hochgürtel, Stefan - 2011
We study entrepreneurs’ behavioral responses of effort (moral hazard) to avoid business failure.This is done in the context of an unemployment insurance scheme for self-employed, wherewe estimate how much of the transition probability to unemployment can be causally attributedto being insured....
Persistent link: https://www.econbiz.de/10011376618
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Better safe than sorry? : ex ante and ex post moral hazard in dynamic insurance data
Abbring, Jaap H.; Chiappori, Pierre-André; Zavadil, Tibor - 2008
This paper empirically analyzes moral hazard in car insurance using a dynamic theory of an insuree's dynamic risk (ex … ante moral hazard) and claim (ex post moral hazard) choices and Dutch longitudinal micro data. We use the theory to …
Persistent link: https://www.econbiz.de/10011376656
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Till debt do us part : strategic divorces and a test of moral hazard
Kim, Yeorim; Mastrogiacomo, Mauro; Hochgürtel, Stefan; … - 2022
lender against borrower default and transfers the risk to the public. Divorce is one of the major events that obliges the …
Persistent link: https://www.econbiz.de/10013332708
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Selecting less corruptible bureaucrats
Hu, Audrey Xianhua; Zou, Liang - 2007
A government officials' propensity to corruption, or corruptibility, can be affected by his intertemporal preference over job benefits. Through a dynamic model of rent-seeking behavior, this paper examines how endogenously determined corruptibility changes with monitoring intensity, salary...
Persistent link: https://www.econbiz.de/10011373824
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Seeking rents in the shadow of coase
Dari-Mattiacci, Guiseppe; Onderstal, Sander; Parisi, … - 2006
Trade opportunities are generally seen as valuable instruments to improve the allocation of resources in society. However, when the traded rights are secured through unproductive rent-seeking contests, the tradeability of the rents may provide stronger incentives to invest in rent-seeking...
Persistent link: https://www.econbiz.de/10011349186
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The pricing of bank debt guarantees
Arping, Stefan - 2009
Persistent link: https://www.econbiz.de/10003860987
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Reciprocity and incentive pay in the workplace
Dur, Robert A. J.; Non, Jan Adrianus; Roelfsema, Hein - 2008
We study optimal incentive contracts for workers who are reciprocal to management attention. When neither worker …
Persistent link: https://www.econbiz.de/10011377049
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The unobserved heterogeneity distribution in duration analysis
Abbring, Jaap H.; Berg, Gerard J. van den - 2006
In a large class of hazard models with proportional unobserved heterogeneity, the distribution of the heterogeneity among survivors converges to a gamma distribution. This convergence is often rapid. We derive this result as a general result for exponential mixtures and explore its implications...
Persistent link: https://www.econbiz.de/10011349195
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Killing the bearer of ill tidings : a theory of consensus-provision moral hazard
Boot, Arnoud W. A.; Milbourn, Todd; Thakor, Anjan V. - 1998
Persistent link: https://www.econbiz.de/10000986122