, securitization and bank risk-taking in a context of the rapid growth in off-balance-sheet activities. The data come from the Canadian … financial sector. Evidence from the 1988-1998 period indicates that: (a) securitization has a negative statistical link with … securitization and bank risk-taking. Profit-risk measure is more sensitive than loss-risk measure to the variation in securitization …

government and central bank intervention are essential and required in financial regulation. The role presently assumed by … regulation is not the same as it was thirty years ago. Deregulation and conglomeration have significantly altered the landscape … in which regulation previously existed and to an extent, defined the role which it presently assumes. For this reason …

, this paper will focus on the impact of shadow banking and Basel III on regulatory arbitrage, the corresponding need for …

arbitrage increase as a result of Basel III’s more stringent capital and liquidity rules? As well as Basel III reforms which are … impact of Basel III on shadow banking and its facilitation of regulatory arbitrage as well as consider the response of …

. Collateral as a refinancing instrument. Collateral is shifting from a mere hedging instrument for counterparty risk to a … strategic refinancing instrument. 2. Improve asymmetric collateral quality and profitability. Recent requirements on …

form a coalition to coordinate their reports and to arbitrage on the goods. We find that when the types of agents are … without arbitrage; when the types are weakly negatively correlated, the monopolist can achieve the same profit regardless of … whether or not buyers can arbitrage on their goods. Allowing arbitrage within coalitions result in right discontinuity between …

We find a positive association between short-selling and accruals during 1988-2003. Short arbitrage occurs primarily … holdings). Consistent with limits to short arbitrage, there is an asymmetry between the up- and down- sides of the accrual … liquidity (turnover and size), and high residual volatility. Thus, there is short arbitrage of the accrual anomaly, but short …

This paper shows that (i) project valuation via disequilibrium NPV+CAPM contradicts valuation via arbitrage pricing …, (ii) standard CAPM-minded decision makers may fail to profit from arbitrage opportunities, (iii) standard CAPM …