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Bailouts, the incentive to manage risk, and financial crises
Panageas, Stauros - 2009
"A firm's termination leads to bankruptcy costs. This may create an incentive for outside stakeholders or the firm's debtholders to bail out the firm as bankruptcy looms. Because of this implicit guarantee, firm shareholders have an incentive to increase volatility in order to exploit the...
Persistent link: https://www.econbiz.de/10003851607
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Bailouts, the incentive to manage risk, and financial crises
Panageas, Stauros - In: Journal of financial economics 95 (2010) 3, pp. 296-311
Persistent link: https://www.econbiz.de/10003965353
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Predatory trading
Brunnermeier, Markus Konrad; Pedersen, Lasse Heje - 2004
Persistent link: https://www.econbiz.de/10002233641
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Predatory trading
Brunnermeier, Markus Konrad; Pedersen, Lasse Heje - 2004
Persistent link: https://www.econbiz.de/10002399234
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Predatory trading
Brunnermeier, Markus Konrad; Pedersen, Lasse Heje - In: The journal of finance : the journal of the American … 60 (2005) 4, pp. 1825-1864
Persistent link: https://www.econbiz.de/10003080437
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Predatory trading
Brunnermeier, Markus Konrad; Pedersen, Lasse H. - 2003
Persistent link: https://www.econbiz.de/10001770539
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Bailouts, the Incentive to Manage Risk, and Financial Crises
Panageas, Stavros - 2010
A firm's termination leads to bankruptcy costs. This may create an incentive for outside stakeholders or the firm's debtholders to bail out the firm as bankruptcy looms. Because of this implicit guarantee, firm shareholders have an incentive to increase volatility in order to exploit the...
Persistent link: https://www.econbiz.de/10013152555
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Predatory Trading
Pedersen, Lasse Heje - 2004
overshooting and a reduced liquidation value for the distressed trader. Hence, the market is illiquid when liquidity is most needed …
Persistent link: https://www.econbiz.de/10012785459
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Bailouts, the Incentive to Manage Risk, and Financial Crises
Panageas, Stavros - 2009
A firm's termination leads to bankruptcy costs. This may create an incentive for outside stakeholders or the firm's debtholders to bail out the firm as bankruptcy looms. Because of this implicit guarantee, firm shareholders have an incentive to increase volatility in order to exploit the...
Persistent link: https://www.econbiz.de/10012463592
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Predatory Trading
Brunnermeier, Markus K. - 2004
overshooting and a reduced liquidation value for the distressed trader. Hence, the market is illiquid when liquidity is most needed …
Persistent link: https://www.econbiz.de/10012467935