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Chandlerian world entails a lower spread of managerial salaries, greater product diversification, and a greater degree of products …
Persistent link: https://www.econbiz.de/10010328455
team composition, firm diversification, and IT investments - which arguably alter returns to exploiting synergies through …
Persistent link: https://www.econbiz.de/10010287681
We consider 1927 borrowers from 54 countries who had a credit rating by both Moody's and S&P as of the end of 1998, and their subsequent default history up to the end of 2002. Viewing bond ratings as predicted probabilities of default, we show that it is unlikely that both agencies are well...
Persistent link: https://www.econbiz.de/10010306287
discussions of the mortgage market to see what market participants thought would happen, the authors find that analysts, on the …
Persistent link: https://www.econbiz.de/10010292214
contemporary discussions of the mortgage market to see what market participants thought would happen, the authors find that …
Persistent link: https://www.econbiz.de/10010282751
We study early default, defined as serious delinquency or foreclosure in the first year, among nonprime mortgages from the 2001 to 2007 vintages. After documenting a dramatic rise in such defaults and discussing their correlates, we examine two primary explanations: changes in underwriting...
Persistent link: https://www.econbiz.de/10010283552
In a recent set of influential papers, researchers have argued that residential mortgage foreclosures reduce the sale … mortgage distress on house prices. …
Persistent link: https://www.econbiz.de/10010292258
done to stop it. We use an economic model to focus on two key decisions: the borrower's choice to default on a mortgage and … illustrate that unaffordable loans, defined as those with high mortgage payments relative to income at origination, are unlikely …
Persistent link: https://www.econbiz.de/10010292331
In a recent set of influential papers, researchers have argued that residential mortgage foreclosures reduce the sale … mortgage distress on house prices. …
Persistent link: https://www.econbiz.de/10010377447
this end we measure diversification for all German banks in the period from 1993 to 2002. As measures we use a broad set of … naive diversification across all industries or, alternatively, the economy's industry structure. With this framework our … in this context innovative group of distance measures. We find that different statistical measures of diversification may …
Persistent link: https://www.econbiz.de/10010295896