Der klassische Kredit wird bei größeren Unternehmen häufig durch eine direkte Finanzierung an Geld- oder Kapitalmärkten ersetzt. Dies ermög-lichen zum Beispiel Anleihen oder Aktien, aber auch das Forderungs-management bietet hier Lösungen, die für den Mittelstand eine zu-kunftsweisende...

Since the first public offering in 1985 asset backed securities (ABS) are one of the most rapidly growing segments of the U.S. capital markets. Finding its genesis in the refinancing of mortgages in the United States, ABS are structured by packaging a pool of financial assets, such as automobile...

This paper investigates the market pricing of subprime mortgage risk on the basis of data forthe ABX.HE family of indices, which have become a key barometer of mortgage marketconditions during the recent financial crisis. After an introduction into ABX index mechanicsand a discussion of...

Vor dem Hintergrund positiver Entwicklungsmöglicheiten des Leasinggeschäfts ist mit einem weiterhin steigenden Refinanzierungsbedarf der Leasinggesellschaften zu rechnen.Im Rahmen der vorliegenden Arbeit soll anhand eines kriterienorientierten Vergleichs dieses neue Instrument mit einer...

In recent years the market for asset backed securities (ABS) has shown a rapid growth. In an ABS transaction assets are first pooled and then securities backed by this pool are issued. In many cases, several tranches of securities differing with respect to their priority of payment are designed....

We analyze the role of intermediaries in electronic markets using detailed data of more than 14,000 originated loans on an electronic P2P (peer-to-peer) lending platform. In such an electronic credit market, lenders bid to supply a private loan. Screening of potential borrowers and the...

Scientific content or knowledge of scientists is useful only in case of distributing or communicating it from author to recipient. This is the task of the scientific communication system. As the first upcoming scientific journals superseding the individual letters between scientists in the...

[...]This article examines how the nature and characteristics ofhedge funds may generate “market failures” that make CCRMfor exposures to hedge funds intrinsically more difficult tomanage, both for the individual firm and for policymakersconcerned with systemic risk. We put forward no...

The paper presents an empirical analysis of the alledged transformation of the financial systems in the three major European economies, France, Germany and the UK. Based on a unified data set developed on the basis of national accounts statistics, and employing a new and consistent method of...