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How smart are investors after the subprime mortgage crisis? Evidence from the securitization market
Gürtler, Marc; Hibbeln, Martin - 2012
Two factors have proven to be strongly relevant for the subprime mortgage crisis. The first is the lack of screening incentives of originators, which had not been anticipated by investors. The second is that investors relied too much on credit ratings. We examine whether investors have learned...
Persistent link: https://www.econbiz.de/10010309795
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How smart are investors after the subprime mortgage crisis? Evidence from the securitization market
Gürtler, Marc; Hibbeln, Martin - Department Wirtschaftswissenschaften, Technische … - 2012
Two factors have proven to be strongly relevant for the subprime mortgage crisis. The first is the lack of screening incentives of originators, which had not been anticipated by investors. The second is that investors relied too much on credit ratings. We examine whether investors have learned...
Persistent link: https://www.econbiz.de/10010985511
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How smart are investors after the subprime mortgage crisis? : evidence from the securitization market
Gürtler, Marc; Hibbeln, Martin - 2012
Two factors have proven to be strongly relevant for the subprime mortgage crisis. The first is the lack of screening incentives of originators, which had not been anticipated by investors. The second is that investors relied too much on credit ratings. We examine whether investors have learned...
Persistent link: https://www.econbiz.de/10009569587
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Crunch Time : A Policy to Avoid the ‘Announcement Effect’ When Terminating a Subsidy
Gürtler, Marc - 2011
If the government announces the termination of a subsidy paid for an irreversible investment under uncertainty …, investors might decide to realize their investment so as to obtain the subsidy. These investors might have postponed an … investment if future payment were assured. Depending on the degree of uncertainty and the time preference, the termination of the …
Persistent link: https://www.econbiz.de/10013119932
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Crunch time : the optimal policy to avoid the "Announcement Effect" when terminating a subsidy
Gürtler, Marc; Sieg, Gernot - 2006 - This Version: 2007-02-28
We are considering for examination an Irreversible Investment under Uncertainty, subsidized by the government. If the … government announces the termination of a form of subsidization, investors may decide to realize their investment in order to … obtain the subsidy. These investors might have postponed an investment if future payment were assured. Depending on the …
Persistent link: https://www.econbiz.de/10009487264
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Crunch time : a policy to avoid the "announcement effect" when terminating a subsidy
Gürtler, Marc; Sieg, Gernot - 2008 - [Elektronische Ressource]
If the government announces the termination of a subsidy paid for an irreversible investment under uncertainty …, investors might decide to realize their investment so as to obtain the subsidy. These investors might have postponed an … investment if future payment were assured. Depending on the degree of uncertainty and the time preference, the termination of the …
Persistent link: https://www.econbiz.de/10003766754
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Crunch time : a policy to avoid the "announcement effect' when terminating a subsidy
Gürtler, Marc; Sieg, Gernot - In: German economic review 11 (2010) 1, pp. 25-36
Persistent link: https://www.econbiz.de/10003945952
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Der Loss Given Default und die Behandlung erwarteter Verluste im Baseler IRB-Ansatz
Gürtler, Marc; Heithecker, Dirk - Institut für Wirtschaftswissenschaften <Braunschweig> … - 2004
Gemäß den im Juni dieses Jahres endgültig verabschiedeten Rahmenrichtlinien der neuen Baseler Kapitalstandards sind Kredite im Wesentlichen mit den unerwarteten Verlusten zu unterlegen. Für erwartete Verluste sind hingegen Rückstellungen zu bilden, wobei Differenzen zwi-schen erwarteten...
Persistent link: https://www.econbiz.de/10005869252
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Modellkonsistente Bestimmung des LGD im IRB-Ansatz von Basel II
Gürtler, Marc; Heithecker, Dirk - Institut für Wirtschaftswissenschaften <Braunschweig> … - 2004
Gemäß den im Juni 2004 durch den Baseler Ausschuss endgültig verabschiedetenKapitalstandards (Basel II) sind Kredite in Höhe des so genannten unerwarteten Verlusts mit Eigenkapitalzu unterlegen. Für erwartete Verluste hat das jeweilige Kreditinstitut Rückstellungen zubilden, wobei hier...
Persistent link: https://www.econbiz.de/10005869253
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Das Qualitätsmanagement und Ratingindikatoren von SDAX Unternehmen
Gürtler, Marc; Schunck, Stefan - Institut für Wirtschaftswissenschaften <Braunschweig> … - 2005
Der Beitrag behandelt die erst kürzlich in der Zeitschrift „Die Betriebswirtschaft“durch Haller (2004) aufgeworfene Frage, ob und inwiefern ein funktionierendes QualitätsmanagementEinfluss auf die Wirtschaftlichkeit von deutschen Unternehmen nimmt. Konkret wird im Rahmen einerempirischen...
Persistent link: https://www.econbiz.de/10005869333