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The Financial Crisis – Risk Transfer, Insurance Layers, and (No?) Reinsurance Culture
Fackler, Michael - 2021
further one: Credit derivatives have much in common with treaty reinsurance, e.g. risk transfer via pooling and layering … certain rules adopted by the reinsurance market and to a certain mindset adopted by the individuals working in the industry …. Some of the traditions established in the insurance and reinsurance world could possibly inspire markets like the credit …
Persistent link: https://www.econbiz.de/10013228701
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Conceptualizing the Failure of Financial Institutions and the Role of Risk Management in Averting Failure : The CLS Model
Bezis, Justin N. - 2013
The failure of financial institutions is often depicted as an externally-driven event in which certain triggers almost inevitably lead to the collapse of the firm. In contrast, this paper views institutional failure as a multistage process in which precautionary measures taken by the firm can...
Persistent link: https://www.econbiz.de/10013089043
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Sovereign credit risk and stock markets : does the markets’ dependency increase with financial Distress?
Silva, Paulo Pereira da - In: International Journal of Financial Studies : open … 2 (2014) 1, pp. 145-167
This paper addresses the relationship between stock markets and credit default swaps (CDS) markets. In particular, I aim to gauge if the co-movement between stock prices and sovereign CDS spreads increases with the deterioration of the credit quality of sovereign debt. The analysis of...
Persistent link: https://www.econbiz.de/10010373349
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Measuring systemic risk : a factor-augmented correlated default approach
Suh, Sangwon - In: Journal of financial intermediation 21 (2012) 2, pp. 341-358
Persistent link: https://www.econbiz.de/10009708412
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Guarantees, transparency and the interdependency between sovereign and bank default risk
König, Philipp Johann; Anand, Kartik; Heinemann, Frank - In: Journal of banking & finance 45 (2014), pp. 321-337
Persistent link: https://www.econbiz.de/10010467894
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Global credit risk : world, country and industry factors
Schwaab, Bernd; Koopman, Siem Jan; Lucas, André - 2015
This paper investigates the dynamic properties of systematic default risk conditions for firms from different countries, industries, and rating groups. We use a high-dimensional nonlinear non-Gaussian state space model to estimate common components in corporate defaults in a 41 country sample...
Persistent link: https://www.econbiz.de/10010484886
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Business Conditions and Default Risks Across Countries
Pflüger, Michael - 2011
The risk of default that business firms face is very significant and differs widely across countries. This paper explores the links between countries' business conditions and international trade embedment and the default risk at the country level from a theoretical point of view. Our main...
Persistent link: https://www.econbiz.de/10013128748
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Protection of Creditors
Hazarika, Daizi - 2013
Creditors, though, are not regarded as the members of a company, yet the role they play in maintaining a company cannot be denied. They are the sole functionaries of the company, in one word. They provide credit to the company for running its business, as without finance a company holds no...
Persistent link: https://www.econbiz.de/10013073091
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The nexus of judicial efficiency, social burden and default risk : cross-country evidence
Zhu, Xiaoquan; Peng, Hongfeng; Zhang, Zijian - In: Journal of international financial markets, … 68 (2020), pp. 1-24
Persistent link: https://www.econbiz.de/10012495893
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Global credit risk : world, country and industry factors
Schwaab, Bernd; Koopman, Siem Jan; Lucas, André - In: Journal of applied econometrics 32 (2017) 2, pp. 296-317
Persistent link: https://www.econbiz.de/10011689783