Fan, Gang-Zhi; Ong, Seow; Sing, Tien - In: The Journal of Real Estate Finance and Economics 32 (2006) 3, pp. 229-251
One interesting explanation for asset securitization is the managerial agency theory—where securitization of cash flows that are relatively insensitive to managerial effort reduces the noise for cash flows that are sensitive to managerial effort (Iacobucci and Winter, 2005). This paper extends...
