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People’s Republic of China; Detailed Assessment Report: IOSCO Objectives and Principles of Securities Regulation
International Monetary Fund (IMF); International … - 2012
This paper discusses a detailed assessment report on the observance of China’s compliance with the International Organization of Securities Commission's objectives and principles of securities regulation. The reform of nontradable shares introduced a market-based pricing system for...
Persistent link: https://www.econbiz.de/10011242961
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Analyse der Anwendung alternativer Finanzierungsformen für nicht kapitalmarktorientierte Unternehmen im Zeitraum von 2002 bis heute
Misch, Josef - Fachbereich Betriebswirtschaft, Fachhochschule Jena - 2013
Im Jahr 2004 wurde erstmals Mezzanine-Kapital in Form von Genussscheinen verbrieft und an mittelständische Unternehmen vergeben. Viele Mittelständler nahmen, durch ihre Wachstumspläne beflügelt, das als wirtschaftliches Eigenkapital zählende Mez-zanine-Kapital zu sehr günstigen Konditionen...
Persistent link: https://www.econbiz.de/10010985362
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Contingent Capital; Economic Rationale and Design Features
Pazarbasioglu, Ceyla; Zhou, Jian-Ping; Leslé, Vanessa Le; … - International Monetary Fund (IMF) - 2011
The causes of the global financial crisis were multi-faceted but revealed still unresolved weaknesses in national and international financial oversight and resolution frameworks. In particular, many governments in the crisis-hit countries had to provide unprecedented levels of support to contain...
Persistent link: https://www.econbiz.de/10011245888
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Internal and external drivers for risk taking in UK and German insurance markets
Eling, Martin; Marek, Sebastian D. - In: International Journal of Banking, Accounting and Finance 4 (2012) 1, pp. 48-76
The aim of this paper is to analyse the impact of both firm-specific and external factors on the risk taking of European insurance companies. The extent of risk taking is quantified through variations in stock prices and these are explained by firm-specific and external factors that proxy the...
Persistent link: https://www.econbiz.de/10010668776
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A shot at regulating securitization
Kiff, John; Kisser, Michael - In: Journal of Financial Stability 10 (2014) C, pp. 32-49
In order to incentivize stronger issuer due diligence effort, European and U.S. authorities are amending securitization …-related regulations to force issuers to retain an economic interest in the securitization products they issue. This paper contributes to … originating bank retains the equity tranche. However, in case capital structure irrelevance does not hold a profit maximizing bank …
Persistent link: https://www.econbiz.de/10010743857
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Securitization and moral hazard: Evidence from credit score cutoff rules
Bubb, Ryan; Kaufman, Alex - In: Journal of Monetary Economics 63 (2014) C, pp. 1-18
securitization on lender screening. However, these cutoff rules can be traced to underwriting guidelines for originators, not for … changes in the probability of securitization. Credit score cutoff rules thus cannot be used to learn about the moral hazard … effect of securitization on underwriting. By showing that this evidence has been misinterpreted, our analysis should move …
Persistent link: https://www.econbiz.de/10011120392
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Using Credit Ratings for Capital Requirementson Lending to Emerging Market Economies; Possible Impact of a New Basel Accord
Mulder, Christian B.; Monfort, Brieuc - International Monetary Fund (IMF) - 2000
The Basel Committee on Banking Supervision has proposed linking capital requirements for bank loans to ratings by …
Persistent link: https://www.econbiz.de/10005264127
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Tax treatment of financial instruments : a survey to France, Germany, The Netherlands and the United Kingdom
Michielse, Geerten (contributor) - 1996
Persistent link: https://www.econbiz.de/10004304280
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Efficient Markets and the Law: A Predictable Past and an Uncertain Future
Hu, Henry T.C. - In: Annual Review of Financial Economics 4 (2012) 1, pp. 179-214
This article analyzes the manifold situations in which the efficient-market hypothesis (EMH) has influenced—or has failed to influence—federal securities regulation and state corporate law, and the prospective roles for the EMH in these contexts. In federal securities regulation, the EMH has...
Persistent link: https://www.econbiz.de/10010603964
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The dynamics of venture capital contracts
Bienz, Carsten; Hirsch, Julia - Center for Financial Studies - 2005
We analyze the degree of contract completeness with respect to staging of venture capital investments using a hand-collected German data set of contract data from 464 rounds into 290 entrepreneurial firms. We distinguish three forms of staging (pure milestone financing, pure round financing and...
Persistent link: https://www.econbiz.de/10010986443