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We find that data transparency policy reforms, reflected in subscriptions to the IMF's Data Standards Initiatives (SDDS …
Persistent link: https://www.econbiz.de/10012956482
Bilateral financial contracts typically require an assessment of counterparty risk. Central clearing of these financial contracts allows market participants to mutualize their counterparty risk, but this insurance may weaken incentives to acquire and to reveal information about such risk. When...
Persistent link: https://www.econbiz.de/10011927083
I consider the role of firm transparency in shaping its capital structure. In a costly-state-verification model, the … optimally choose zero leverage and finance themselves with equity. If firms can increase their transparency at a cost – say by …
Persistent link: https://www.econbiz.de/10011800836
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I examine how transparency and interdealer trading affects prices investors pay in municipal bond offerings. Real …
Persistent link: https://www.econbiz.de/10010587983
This paper studies product market competition under a strategic transparency decision. Dominant investors can influence … information collection in the financial market, and thereby corporate transparency, by affecting market liquidity or the cost of … information collection. More transparency on a firm's competitive position has both strategic advantages and disadvantages: in …
Persistent link: https://www.econbiz.de/10011608488
the potential importance of securitization in Asia because of its possible role in increasing transparency of the …
Persistent link: https://www.econbiz.de/10009363721
This paper studies product market competition under a strategic transparency decision. Dominant investors can influence … information collection in the financial market, and thereby corporate transparency, by affecting market liquidity or the cost of … information collection. More transparency on a firm's competitive position has both strategic advantages and disadvantages: in …
Persistent link: https://www.econbiz.de/10005423252