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Securitization and moral hazard: Evidence from credit score cutoff rules

Bubb, Ryan; Kaufman, Alex - 2011

Mortgage originators use credit score cutoff rules to determine how carefully to screen loan applicants. Recent research has hypothesized that these cutoff rules result from a securitization rule of thumb. Under this theory, an observed jump in defaults at the cutoff would imply that...

Persistent link: https://www.econbiz.de/10010286944

The marketability of bank assets and managerial rents: implications for financial stability

Fecht, Falko; Wagner, Wolf - 2007

Ongoing financial innovation and greater information availability increase the tradability of bank assets and reduce … banks' dependence on individual bank managers as private information in the lending process declines. In this paper we argue … bank managers and shareholders becomes less severe. Consequently, banks' capital structure needs to be less concerned with …

Persistent link: https://www.econbiz.de/10010295931

Bank ratings: what determines their quality?

Hau, Harald; Langfield, Sam; Marqués-Ibáñez, David - 2012

This paper examines the quality of credit ratings assigned to banks in Europe and the United States by the three largest rating agencies over the past two decades. We interpret credit ratings as relative assessments of creditworthiness, and define a new ordinal metric of rating error based on...

Persistent link: https://www.econbiz.de/10011605529

Securitization and moral hazard: Evidence from a lender cutoff rule

Bubb, Ryan; Kaufman, Alex - 2009

Credit score cutoff rules result in very similar potential borrowers being treated differently by mortgage lenders. Recent research has used variation induced by these rules to investigate the connection between securitization and lender moral hazard in the recent financial crisis. However, the...

Persistent link: https://www.econbiz.de/10010286943

Handling Banking Crises - The Case of Russia

Heinrich, Ralph P.; Buch, Claudia M. - 1999

of the government to service its liabilities. Apart from the externality problem of bank recapitalization, the paper …

Persistent link: https://www.econbiz.de/10010260518

The management of moral hazard through the implementation of a Moral Compliance Model (MCM)

San-Jose, Leire; Gonzalo, Jose Felix; Ruíz-Roqueñi, Maite - In: European Research on Management and Business Economics … 28 (2022) 1, pp. 1-11

Moral hazard in an organization occurs when people make decisions and take a high risk for their own benefit, given that they would not have to bear all the negative ensuing consequences should they occur. This risk transferred to third parties is generally due to the catalysts that foster this...

Persistent link: https://www.econbiz.de/10014525707

The dynamics of venture capital contracts

Bienz, Carsten; Hirsch, Julia - 2005

We analyze the degree of contract completeness with respect to staging of venture capital investments using a hand-collected German data set of contract data from 464 rounds into 290 entrepreneurial firms. We distinguish three forms of staging (pure milestone financing, pure round financing and...

Persistent link: https://www.econbiz.de/10010298325

Corporate governance

Lehmann, Erik - 2018

Corporate governance is a recent concept that encompasses the costs caused by managerial misbehavior. Corporate governance is concerned with how organizations in general, and corporations in particular, produce value and how that value is distributed among the members of the corporation, its...

Persistent link: https://www.econbiz.de/10011931348

The Future of Banking in CESEE after the Financial Crisis

Gnan, Ernest; Simor, Andras; Schepers, Manfred; Eller, … - 2011

On 23 June 2010, the Magyar Nemzeti Bank and SUERF jointly organised a conference on "The Future of Banking in CESEE … at the European Bank for Reconstruction and Development, on "The role of domestic financial markets in an integrated …

Persistent link: https://www.econbiz.de/10011689947

Sektor bankowy w Europie: Co zmienił kryzys?

Pawłowicz, Leszek; Pawłowska, Małgorzata; Stańczuk, … - 2013

Persistent link: https://www.econbiz.de/10011431094

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