Diese Dissertation besteht aus drei eigenständigen theoretischen Aufsätzen, in denen das Kreditrisiko von Firmen, die …

mitigate potential problems of information asymmetry. First Loss Positions (FLPs) are the most important enhancement. We … a higher FLP. Assuming a lognormal distribution for the loss rate of the underlying portfolio we find that the FLP bears … on average 86% of the expected default losses. This loss share is largely independent of the asset pool quality. However …

The intention of a loan loss provision is the anticipation of the loan's expected losses by adjusting the book value of … the loan. Furthermore, this loan loss provision has to be compared to the expected loss according to Basel II and, in the … case of a difference, liable equity has to be adjusted. This however assumes that the loan loss provision and the expected …

This paper explores the differences that can exist between individual and aggregate loss guarantees in an environment … resources, e.g., bandwidth or buffer, required to ensure that all individual loss measures remain below their desired target …. This paper's contributions are in developing analytical models that enable the evaluation of individual loss probabilities …

provide micro evidence that the job search environment of unemployed workers is non-stationary because of loss of skills. …