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The Polish investor compensation system versus EU-15 systems and model solutions
Janik, Bogna - 2009
Persistent link: https://www.econbiz.de/10003795688
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The Polish investor compensation system versus EU-15 systems and model solutions
Janik, Bogna - 2009
The purpose of a compensation system is the protection of small investors. The system should increase investors … Compensation System in the EU is adjusting EU member states to Directive ICD requirements. However, compensation systems are not … modifications and adjustments to the needs of developing EU-wide financial markets. -- compensation system ; safety net ; investor …
Persistent link: https://www.econbiz.de/10009514145
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Stricto Sensu Investor Protection Under the 'MiFID II' : A Systematic Overview of Articles 24-30
Gortsos, Christos - 2018
This study is aiming to present (and to a certain extent analyse) the provisions of Articles 24-30 of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 “on markets in financial instruments (…)” (‘MiFID II') – including the relevant provisions of the...
Persistent link: https://www.econbiz.de/10012933790
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The interaction of mortgage credit and housing prices in the US
Lindner, Fabian - 2014
This paper looks at the relation between mortgage credit and housing values. It has become conventional wisdom in policy circles that credit growth led to the housing bubble in the US. However, this statement has not been empirically tested as of yet. The paper uses the Johansen procedure to...
Persistent link: https://www.econbiz.de/10010349918
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Bank CEO Incentives and the Credit Crisis
Fahlenbrach, Rüdiger; Stulz, René M. - Swiss National Centre of Competence in Research North … - 2009
accounting return on equity (ROE). Further, banks with higher option compensationand with a larger fraction of compensation given …
Persistent link: https://www.econbiz.de/10009305118
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Seven Pillars of Wisdom
Barone-Adesi, Giovanni - Swiss National Centre of Competence in Research North … - 2009
The persistence of financial instability calls into question the adequacy of the current regulatory regime. Acritical review of the three pillars at the core of current financial regulation exposes some structural flaws.[...]
Persistent link: https://www.econbiz.de/10005868715
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Credit market and macroeconomic volatility
Mendicino, Caterina - 2007
This paper investigates the role of credit market size as a determinant of business cycle fluctuations. First, using OECD data I document that credit market depth mitigates the impact of variations in productivity to output volatility. Then, I use a business cycle model with borrowing limits a...
Persistent link: https://www.econbiz.de/10011604789
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House Prices, Money, Credit and the Macroeconomy.
Goodhart, Charles; Hofmann, Boris - 2008
This paper assesses the linkages between money, credit, house prices and economic activity in industrialised countries over the last three decades. The analysis is based on a fixed-effects panel VAR estimated using quarterly data for 17 industrialized countries spanning the period 1970-2006. The...
Persistent link: https://www.econbiz.de/10011604934
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Business fixed investment and credit market frictions : a VECM approach for Hungary
Endrész, Marianna - 2011
The aim of this paper is to model the interaction between the loan market and real activity, while financial frictions are explicitly taken into account. The econometric methodology used is VECM. Johansen's approach is employed to allow for multiple cointegration. Financial frictions are...
Persistent link: https://www.econbiz.de/10008990919
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Fundamentals, misvaluation, and investment : the real story
Chirinko, Robert S.; Schaller, Huntley - 2006
Is real investment fully determined by fundamentals or is it sometimes affected by stock market misvaluation? We introduce three new tests that: measure the reaction of investment to sales shocks for firms that may be overvalued; use Fama-MacBeth regressions to determine whether "overinvestment"...
Persistent link: https://www.econbiz.de/10009736657