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Wind-down of bank trading books: Operational aspects and hidden costs
Santoni, Alessandro; Rossignol, Ghislain; Akhouen, Richard - 2023
costs (including bank liquidity and funding costs) and two main pricing components, namely the capital valuation adjustment …
Persistent link: https://www.econbiz.de/10014374601
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Measuring financial integration in the euro area
Baele, Lieven; Ferrando, Annalisa; Hördahl, Peter; … - 2004
In this paper, we present a set of specific measures to quantify the state and evolution of financial integration in the euro area. Five key markets are considered, namely the money, corporate bond, government bond, credit and equity markets. Building upon the law of one price, we developed two...
Persistent link: https://www.econbiz.de/10011606166
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Implications for liquidity from innovation and transparency in the European corporate bond market
Laganá, Marco; Perina, Martin; von Köppen-Mertes, Isabel - 2006
This paper offers a new framework for the assessment of financial market liquidity and identifies two types: search … liquidity and systemic liquidity. Search liquidity, i.e. liquidity in “normal” times, is driven by search costs required for a … trader to find a willing buyer for an asset he/she is trying to sell or vice versa. Search liquidity is asset specific …
Persistent link: https://www.econbiz.de/10011606202
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Dark pools in European equity markets: Emergence, competition and implications
Petrescu, Monica; Wedow, Michael - 2017
This paper considers the growth of dark pools: trading venues for equities without pre-trade transparency. It first documents the emergence and expansion of dark pools in European equity markets in the context of regulatory changes and increased high-frequency trading (HFT). It finds that the...
Persistent link: https://www.econbiz.de/10011804696
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Institutionelle Investoren und Corporate Governance: Eine empirische Analyse
Steiger, Max - 1998
Eine der herausragenden Entwicklungen auf den internationalen Finanzmarkten in den letzten Jahren ist die Institutionalisierung, d. h. die zunehmende Delegation privater Ersparnisse an professionelle Kapitalanleger - den institutionellen Investoren. Darunter sind private...
Persistent link: https://www.econbiz.de/10010300917
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Intermediation in US and EU bond and swap markets: Stylised facts, trends and impact of the coronavirus (COVID-19) crisis in March 2020
Scheicher, Martin - 2023
The trading of bonds and swaps largely relies on bank dealers as core market-makers. Dealers provide liquidity and … to their market-making activities. The ongoing challenges faced in ensuring resilient provision of liquidity were also …
Persistent link: https://www.econbiz.de/10014476215
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Fair value accounting and financial stability
Enria, Andrea; Cappiello, Lorenzo; Dierick, Frank; … - 2004
Accounting standard setters are considering the wider use of fair value accounting. This paper focuses on the financial stability implications of a move in the banking sector from the current accounting framework to full fair value accounting. A simulation exercise is performed on how various...
Persistent link: https://www.econbiz.de/10011606165
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Household sector borrowing in the euro area - a micro data perspective
Adalid, Ramón; Lojschová, Adriana; Westermann, Thomas - 2011
This paper uses micro data from the European Union Statistics on Income and Living Conditions (EU-SILC) to generate structural information for the euro area on the incidence of household indebtedness and the debt service burden. It breaks down incidence by characteristics such as income, age and...
Persistent link: https://www.econbiz.de/10011606277
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Esiselvitys yhteiskunnallisesta yrittämisestä: Katsaua yhteiskunnallisiin yrityksiin ja vaikuttavuusinvestoimiseen Suomessa
Kotiranta, Annu; Widgrén, Joona - 2015
The aim of this report has been to produce an analysis of the state of the social enterprises in Finland. Based on a comprehensive survey, there are roughly 19 000 social enterprises in Finland that employ around 125 000 persons. These estimates produced in this report multiply the views on the...
Persistent link: https://www.econbiz.de/10012037666
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Das Wettmonopol in Deutschland: Status Quo und Reformansätze
Maschke, Mario; Schmidt, Ulrich - 2010
This paper focuses on the legal monopoly for sporting bets in Germany. We analyze the pricing behavior of the monopolist ODDSET and find that typical pricing inefficiencies on betting markets are reinforced under the monopoly. This result in conjunction with the decreasing tax revenue may...
Persistent link: https://www.econbiz.de/10010313148