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Modelling the role of credit rating agencies-Do they spark off a virtuous circle?

Bannier, Christina E.; Tyrell, Marcel - 2005

In this paper, we propose a model of credit rating agencies using the global gamesframework to incorporate information and coordination problems. We introduce arefined utility function of a credit rating agency that, additional to reputationmaximization, also embeds aspects of competition and...

Persistent link: https://www.econbiz.de/10005866895

Die Regulierung der unabhängigen Effektenhändler in der Schweiz

Marti, Eliane; Geiger, Hans - Institut für Schweizerisches Bankwesen <Zürich> - 2004

In der Vergangenheit führte die Globalisierung und Öffnung der Finanzmärkte zu größerer Kapital- und …

Persistent link: https://www.econbiz.de/10005856976

Staatliche Kapazität, Globalisierung und Regulation der chinesischen Wirtschaft am Ende des 20. Jahrhunderts

Herrmann-Pillath, Carsten - 1999

with the case of China. The paper develops an analytical frame of reference by applying the conceptual tools of the French …

Persistent link: https://www.econbiz.de/10005841462

Der Einfluß sozio-kultureller Faktoren auf die Geschäftsbeziehungen mit Wirtschaftsorganisationen der VR China - eine Befragung kleiner und mittlerer Industrieunternehmen

Geng, V. - 1994

entwickelt nämlich die These, daß viele Schwierigkeiten im China-Geschäft daher rühren, daß bei den deutschen Unternehmen zu … China erforderlich ist. Defizite wie die Un-kenntnis über den Wandel von Unternehmensorganisationen, innerchinesischem Recht … "community" des deutschen China-Geschäfts verbreitet werden. Doch dieses subjekti-ve Wissen spiegelt nicht immer objektive …

Persistent link: https://www.econbiz.de/10005841486

Modelling Financial High Frequency Data Using Point Processes

Bauwens, Luc; Hautsch, Nikolaus - Sonderforschungsbereich Ökonomisches Risiko <Berlin> - 2007

In this paper, we give an overview of the state-of-the-art in the econometric literature on the modeling of so-called financial point processes. The latter are associated with the random arrival of specific financial trading events, such as transactions, quote updates, limit orders or price...

Persistent link: https://www.econbiz.de/10005860832

Who Leads Financial Markets?

Weber, Enzo - Sonderforschungsbereich Ökonomisches Risiko <Berlin> - 2007

The present paper embarks on an analysis of interactions between the US and Euroland in the capital, foreign exchange, money and stock markets from 1994 until 2006. Considering influences on financial market volatility, the estimations are carried out in multivariate EGARCH models using...

Persistent link: https://www.econbiz.de/10005861049

Rules, Discretion or Reputation? Monetary Policies and the Efficiency of Financial Markets in Germany, 14th to 16th Centuries

Volckart, Oliver - Sonderforschungsbereich Ökonomisches Risiko <Berlin> - 2007

This paper examines the questions of whether and how feudal rulers were able tocredibly commit to preserving monetary stability, and of which consequences theirdecisions had for the efficiency of financial markets. The study reveals that princes were usually only able to commit to issuing a...

Persistent link: https://www.econbiz.de/10005861191

Is there Market Discipline in the European Insurance Industry? An Analysis of the German Insurance Market

Eling, Martin; Schmit, Joan T. - Institut für Versicherungswirtschaft <Sankt Gallen> - 2008

The financial services industry has undergone significant regulatory change in thepast two decades due to Basel II (banking) and Solvency II (insurance). Even though these promulgations are focused on European institutions, their influenceextends around the globe. An important dimension of this...

Persistent link: https://www.econbiz.de/10005861349

Emergence of Financial Intermediaries in Electronic Markets: The Case of Online P2P Lending

Berger, Sven; Gleisner, Fabian - Verband der Hochschullehrer für Betriebswirtschaft - 2009

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...

Persistent link: https://www.econbiz.de/10005865328

Auswirkungen der finanz- und realmarktwirtschaftlichen Entwicklung auf die sozialen Sicherungssysteme

Botsch, Andreas - Friedrich-Ebert-Stiftung / Abteilung Wirtschafts- und … - 2009

Nach Jahren einschneidender Reformenstehen die sozialen Sicherungssystemein Deutschland in Folge der schwerstenWirtschaftskrise vor ihrer vermutlich größtenBelastungsprobe der Nachkriegszeit. Derzeitbesteht zwar noch kein akuter Alarm, da – imGegensatz zu überwiegend kapitalmarktfi...

Persistent link: https://www.econbiz.de/10005865915