participants at each stage of the securitization process to obtain easily full information about the underlying original risks and …

reporting affects post-earnings-announcement drift (PEAD). We find that PEAD declines after the information shock, and the …

, we find that investors require a significantly higher risk premium when there is a high degree of asymmetric information …. The credit spreads of information sensitive tranches are significantly higher if originators do not retain a part of the … discriminate between information sensitive and information insensitive tranches, beyond that they rely on their own risk analysis …

funds, and investing the proceeds primarily in long-term U.S. assets. As negative information about U.S. assets became …