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This study examines the relationship between securitization and loan performance using proprietary loan-level data from a Chinese bank. Securitized loans exhibit lower ex-post default rates and prepayment chances compared to the loans retained on the bank's balance sheet, suggesting no adverse...
Persistent link: https://www.econbiz.de/10014342279
We contribute to the growing literature on moral hazard by offering empirical evidence of the effectiveness of insurance pricing incentives at improving road safety by comparing the claim frequency following a regulatory reform introduced in a pilot city in China with the experience of another...
Persistent link: https://www.econbiz.de/10012902150
Adverse selection and moral hazard are different types of information asymmetry in the insurance market, but their empirical evidence cannot be separated using the traditional positive risk-coverage correlation test. In this paper, we use a new method to disentangle adverse selection and moral...
Persistent link: https://www.econbiz.de/10012867165
During the Polish economy transformation process a lot of reforms have been implemented, including those connected with pension system. But future pensioners should not, unfortunately, trust in high rate of future pensions received from pensioner system, much earlier, individually should take...
Persistent link: https://www.econbiz.de/10013118081
growth and an increase in firms' financial investment. The waning economic prospects are shown to lead to a surge in housing …-the-shelf dynamic New Keynesian model with novel modeling of firms' dynamic portfolio choice between physical and financial investment …'s housing demand. A rise in house prices then generates competing effects on real investment: it not only raises the firm …
Persistent link: https://www.econbiz.de/10012892842
efficiency of its financial system in allocating capital to investment will be important to sustain this growth. This paper shows … that of corporate investment efficiency. China's stock market appears to be aggregating diffuse information and generating … cost of equity capital, constraining the investment of China's smaller, more profitable enterprises. Further reforms that …
Persistent link: https://www.econbiz.de/10012937683
. Price informativeness is significantly correlated with corporate investment efficiency. For international investors, China …
Persistent link: https://www.econbiz.de/10012929566
China is well-placed to avoid the so-called “middle-income trap” and to continue to converge towards the more advanced economies, even though growth is likely to slow from near double-digit rates in the first decade of this millennium to around 7% at the 2020 horizon. However, in order to...
Persistent link: https://www.econbiz.de/10011277005
and optimal allocation which prevent development. It is first and foremost the lack of a sufficient credit-investment … under which regulations and conditions a credit-investment process in developing countries is possible. …
Persistent link: https://www.econbiz.de/10014363083
China is well-placed to avoid the so-called “middle-income trap” and to continue to converge towards the more advanced economies, even though growth is likely to slow from near double-digit rates in the first decade of this millennium to around 7% at the 2020 horizon. However, in order to...
Persistent link: https://www.econbiz.de/10010231008