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Assessing Global Regulatory Impacts of the U.S. Subprime Mortgage Meltdown : International Banking Supervision and the Regulation of Credit Rating Agencies
Caliari, Aldo - 2012
This paper takes a look at two areas where the subprime crisis has triggered debate and is paving the way for possible movement towards greater global regulation: international banking supervision and the role of credit rating agencies. It surveys the varied range of opinions on the role that...
Persistent link: https://www.econbiz.de/10013101424
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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/10003941871
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Securitization and moral hazard : evidence from credit score cutoff rules
Bubb, Ryan; Kaufman, Alex - 2011 - This version: August 30, 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/10009298472
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Multiple principal-agent problems in securitisation
Lui, Alison - In: The Poznań University of Economics review 11 (2011) 2, pp. 47-72
Persistent link: https://www.econbiz.de/10009314973
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The marketability of bank assets and managerial rents : implications for financial stability
Fecht, Falko (contributor); Wagner, Wolf (contributor) - 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/10003529025
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The Marketability of Bank Assets and Managerial Rents : Implications for Financial Stability
Fecht, Falko - 2016
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/10012989289
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The marketability of bank assets, managerial rents and banking stability
Fecht, Falko; Wagner, Wolf - In: Journal of financial stability 5 (2009) 3, pp. 272-282
Persistent link: https://www.econbiz.de/10003878359
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Can Shareholders of Rating Agencies Time Rating Changes?
Gao, Xiang - 2020
We find that large shareholders of Moody's (affiliated investors) abnormally decrease their stock ownerships in a firm before its downgrade by Moody's. This finding is stronger for informationally opaque stocks and active affiliated investors, significant only after Moody's initial public...
Persistent link: https://www.econbiz.de/10012847794
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Essays in financial market imperfections
Sengupta, Rajdeep - 2006
Persistent link: https://www.econbiz.de/10009248626
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The use of credit ratings in the delegated management of fixed income assets
Baghai, Ramin P.; Becker, Bo; Pitschner, Stefan - In: Management science : journal of the Institute for … 70 (2024) 5, pp. 3059-3079
Persistent link: https://www.econbiz.de/10014551059