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Clearinghouse-five : determinants of voluntary clearing in European derivatives markets

Fiedor, Paweł - 2018

OTC derivative contracts in Europe. Central clearing acts as insurance against counterparty credit risk related to … derivative contracts, and is legally mandated for a specific subset of standardized derivative contracts, with a significant … maturity of the contract and international frictions affect voluntary clearing of different types of derivative contracts in …

Persistent link: https://www.econbiz.de/10011848367

Is intervention a signal of future monetary policy? : Evidence from federal funds futures market

Fatum, Rasmus - 1996

Persistent link: https://www.econbiz.de/10013453024

Volatility indices and implied uncertainty measures of European government bond futures

Baran, Jaroslav; Voříšek, Jan - 2020

Persistent link: https://www.econbiz.de/10013384851

Short bond portfolios and arbitrary deformation of the Yield curve

Gay, Roger - 1997

Persistent link: https://www.econbiz.de/10000974326

Optimal IPO design with informed trading

Parlane, Sarah (contributor); Rousseau, Fabrice (contributor) - 2007

We characterize optimal IPO design in the distinct adverse selection problems: one affecting the IPO stage and one arising in the after-market. Allocating shares to an investor with superior information in the after-market depresses the share's value to less informed investors. However, because...

Persistent link: https://www.econbiz.de/10003581262

Location decisions of non-bank financial foreign direct investment : firm-level evidence from Europe

Davies, Ronald B.; Killeen, Neill - 2015

The non-bank financial sector in the euro area has more than doubled in size over the last decade reflecting the substantial growth in shadow banking activities. However, a large proportion of the non-bank financial sector remains unmapped as granular balance sheet information is not available...

Persistent link: https://www.econbiz.de/10011378961

The economics of advance pricing agreements

Becker, Johannes; Davies, Ronald B.; Jakobs, Gitte - 2014

Advance pricing agreements (APAs) determine transfer prices for intra-firm transactions in advance. This paper interprets these contracts as a means to overcome a hold-up problem that occurs because governments cannot commit to non-excessive future tax rates. In addition, with private...

Persistent link: https://www.econbiz.de/10010426554

What is driving the price-to-earnings ratio : the effect of conservative accounting and growth

Stähle, Martin; Lampenius, Niklas - 2013

Forward price-to-earnings ratios (PE ratios) play a central role in financial analysis and valuation. They are used to value comparable firms or to inform about mispriced stocks. We show that past investment growth and conservative accounting hinder a straightforward interpretation of the PE...

Persistent link: https://www.econbiz.de/10012822385

Education and credit: a Matthew effect

Delēs, Manthos D.; Deli, Yota D.; Peydró, José-Luis; … - 2022

Using a unique corporate loans dataset for entrepreneurs with small and microenterprises, this paper examines how educational attainment affects bank credit decisions and subsequent individual and firm outcomes. Our results highlight a "Matthew Effect," where an initial advantage is...

Persistent link: https://www.econbiz.de/10013191364

When gambling for resurrection is too risky

Kirti, Divya - 2018

Rather than taking on more risk, US insurers hit hard by the crisis pulled back from risk taking, relative to insurers hit less hard by the crisis. Capital requirements alone do not explain this risk reduction: insurers hit hard reduced risk within assets with identical regulatory treatment....

Persistent link: https://www.econbiz.de/10011848370

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