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think about information as well as market discipline and discuss policy implications and proposals for regulation. …The aim of this paper is to examine what has been the role of information provision to the market throughout the crisis …. We consider two main sources of information to the market, financial statements and information provided by credit rating …
Persistent link: https://www.econbiz.de/10010308575
In 2007 the world faced one of the biggest financial crises ever. It was the third important financial crisis in the … worldwide political institutions to approve a more rigorous regulation on financial institutions and predict financial crises … EU regulation on credit rating agencies and current Basel II enhancements. Finally we can determine that most regulatory …
Persistent link: https://www.econbiz.de/10008695393
Eigenkapitalstandards und eine notwendige Risikobegrenzung auf Derivatemärkten. -- Financial Crisis ; Information ; Regulation ; Banking … Aufgabe darin besteht, glaubwürdige Information für Investoren bereitzustellen. Drei Determinanten der Instabilität werden … sinnvolle Reform der Regulierung ableiten. Neben den Anreizproblemen, die Gegenstand einer weiteren Arbeit sind (Franke …
Persistent link: https://www.econbiz.de/10003864312
think about information as well as market discipline and discuss policy implications and proposals for regulation. …The aim of this paper is to examine what has been the role of information provision to the market throughout the crisis …. We consider two main sources of information to the market, financial statements and information provided by credit rating …
Persistent link: https://www.econbiz.de/10010958732
Since the summer of 2007, participants in financial markets have been confronted by a crisis of their own making. In order to prevent the recurrence of a similar crisis in the future, the G-20 nations, at their finance summit in Washington on 15 November 2008, resolved to "ensure that all...
Persistent link: https://www.econbiz.de/10011387132
premature to conclude that 'Too Big to Fail" has been solved, but macro-prudential regulation is now much more effective and …
Persistent link: https://www.econbiz.de/10012022346
, this paper argues that macro-prudential regulation is necessary to address the systemic risk inherent to ratings. The paper …
Persistent link: https://www.econbiz.de/10013158711
Dodd-Frank Act of 2010 eliminated a Regulation Fair Disclosure rule, which allowed U.S. public companies to make … Regulation Fair Disclosure, which allow companies to make selective disclosures to CRAs if they expressly agree to keep the … confidentiality, this revision is unlikely to affect their access to issuers' non-public information. This study investigates the …
Persistent link: https://www.econbiz.de/10012854290
Especially structured finance instruments were blamed as main reason for the financial crisis 2007, but the understanding for the motivation to originate securitization products is less discovered. Therefor this paper tries to identify main balance sheet characteristics of structured finance...
Persistent link: https://www.econbiz.de/10008907723
This paper studies a dynamic version of the Holmstrom-Tirole model of intermediated finance. I show that competitive equilibria are not constrained efficient when the economy experiences a financial crisis. A pecuniary externality entails that banks' desire to accumulate capital over time...
Persistent link: https://www.econbiz.de/10009691196