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Contagion and the beginning of the crisis - Pre-Lehman period

Király, Júlia; Nagy, Márton; Szabó, Viktor E. - 2008

analysis of the channel of contagion within financial integration: a confidence crisis, coupled with turbulence in the …

Persistent link: https://www.econbiz.de/10010322410

Financial intermediation theory and implications for the sources of value in structured finance markets

Mitchell, Janet - 2005

Structured finance instruments represent a form of securitization technology which can be defined by the … securitization, in order to identify the economic forces underlying the creation of SF instruments. A question addressed is under … what circumstances one would expect to observe pooling alone (as with traditional securitization) versus pooling and …

Persistent link: https://www.econbiz.de/10011506593

Asymmetric information and roll-over risk

König, Philipp; Pothier, David - 2014

How do banks choose their debt maturity structure when credit markets are subject to information frictions? This paper proposes a model of equilibrium maturity choice with asymmetric information and endogenous roll-over risk. We show that in the presence of public signals about firms'...

Persistent link: https://www.econbiz.de/10010332848

Market discipline across bank governance models: Empirical evidence from German depositors

Arnold, Eva A.; Größl, Ingrid; Koziol, Philipp - 2015

German savers are renowned for preferring safe, long-term investments, thus providing patient capital, with bank deposits playing an important role. Using a comprehensive data set for the German banking sector, we examine whether German depositors are really that patient, abstaining from any...

Persistent link: https://www.econbiz.de/10011286343

Market discipline across bank governance models: Empirical evidence from German depositors

Arnold, Eva A.; Größl, Ingrid; Koziol, Philipp - 2015

German savers are renowned for preferring safe, long-term investments, thus providing patient capital, with bank deposits playing an important role. Using a unique data set provided by the Deutsche Bundesbank for German banks, we examine whether German depositors are really that patient,...

Persistent link: https://www.econbiz.de/10011341023

Remedial role of financial development in corporate investment amid financing constraints and agency costs

Khan, Muhammad Kaleem; He, Ying; Kaleem, Ahmad; Akram, Umair - In: Journal of Business Economics and Management (JBEM) 19 (2018) 1, pp. 176-191

The study investigates the role of financial development in boosting the investment efficiency of firms' investments in China. Using a large sample of firm-level financial data and country level economic data over the period 2004-2015, present study creates a link between financial and real...

Persistent link: https://www.econbiz.de/10015401523

The Causes of the Financial Crisis

Hellwig, Martin - In: CESifo Forum 09 (2008) 4, pp. 12-21

Persistent link: https://www.econbiz.de/10011695908

The Real Effects of Private Equity Buyouts

Tåg, Joacim - 2010

Private equity buyouts have become a common element in the industrial development process. I survey the literature on the real economic effect of buyouts: employment, wages, productivity, and long-run investments. Employment tend to marginally fall after a buyout in most countries studied, with...

Persistent link: https://www.econbiz.de/10010320213

A leverage-based measure of financial instability

Tepper, Alexander; Borowiecki, Karol Jan - 2014

We employ a model of leverage-induced explosive behavior in financial markets to develop a measure of financial market instability. Specifically, we derive a quantitative condition for how large levered investors can become relative to the whole market before the demand curve for securities...

Persistent link: https://www.econbiz.de/10011341018

The Information Content of Market Liquidity: An Empirical Analysis of Liquidity at the Oslo Stock Exchange?

Skjeltorp, Johannes A.; Ødegaard, Bernt Arne - 2009

We investigate the information content of aggregate stock market liquidity and ask whether it may be a useful realtime indicator, both for financial stress, and real economic activity in Norway. We describe the development in a set of liquidity proxies at the Oslo Stock Exchange (OSE) for the...

Persistent link: https://www.econbiz.de/10012143731