Since the start of the financial crisis, various forms of securitization have been criticized for causing the problems … to this market. Our study focuses on the use of receivables securitization by non-financial firms, and we investigate who … filings of 242 users of securitization across the fiscal years 2006 and 2007, and combining it with accounting information …

„Quantitative Economics and Finance“ an der Universität Konstanz erstellt wurden. Die ersten drei Papiere behandeln die Verbriefung … Bankkrediten oder Anleihen beziehen. In einem CDO wird ein Teil dieses Risikos von der verbriefenden Bank weitergegeben an … Teil des Kreditrisikos verbleibt bei der Bank. Das erste Papier untersucht die Ausgestaltung von Verbriefungstransaktionen …

-based activity of interest is asset securitization, though a number of other specific fee-based income-generating activities, such as … service charges on deposit accounts, are considered as well. Using a combination of quarterly bank-specific and macroeconomic … structure on various bank outcomes. It is revealed that while large banks, those with real assets of $10 billion or more, do not …

disintermediation, securitization and an increase in the importance of nonbank financial intermediaries (Schmidt, Hackethal and Tyrell …

This dissertation is a collection of four independent research papers. All papers deal with credit securitization. In … these transactions the originating bank sells (part of) its loan portfolio to a Special Purpose Vehicle (SPV) which funds … on such securitization structures by analysing various aspects. The first paper takes a closer look at securitizations of …

The thesis describes financial instruments applied to transfer micro- as well as macroeconomic bank risks to the …

more effective than providing it at the time of bankruptcy.Theories of financial intermediation suggest that securitization … rule of thumb in the lending market to generate exogenous variation in the ease of securitization and compare the … composition and performance of lenders' portfolios around this threshold. Conditional on securitization, a portfolio that is more …

The paper provides a framework for analyzing the development of securitization as a vehicle for funding loans. Broadly … intermediaries originating and holding the loans and funding them mainly with debt, most often deposits, and the securitization model … issue with securitization is that while securities markets are efficient sources of funding, they also involve agency costs …