Since the start of the financial crisis, various forms of securitization have been criticized for causing the problems … to this market. Our study focuses on the use of receivables securitization by non-financial firms, and we investigate who … filings of 242 users of securitization across the fiscal years 2006 and 2007, and combining it with accounting information …

more effective than providing it at the time of bankruptcy.Theories of financial intermediation suggest that securitization … rule of thumb in the lending market to generate exogenous variation in the ease of securitization and compare the … composition and performance of lenders' portfolios around this threshold. Conditional on securitization, a portfolio that is more …

The paper provides a framework for analyzing the development of securitization as a vehicle for funding loans. Broadly … intermediaries originating and holding the loans and funding them mainly with debt, most often deposits, and the securitization model … issue with securitization is that while securities markets are efficient sources of funding, they also involve agency costs …

problemas de selección adversa más severos ; Asset securitization offers banks the possibility of altering their capital … structures and the financial intermediation process. This study shows that the introduction of securitization is associated with … fundamental changes in the funding policies of banks. In particular, we present evidence of more intense use of securitization by …

securitization and mortgage credit markets. An endogenous securitization market efficiently reallocates illiquid assets, increases …