We analyze the determinants of a firm's ownership structure when decisions over risk are taken by majority vote of risk … and risk choices and on the relative size of blocks …

breach. Parties appear to negotiate reps consistent with the risk allocation necessary in an agreement, utilizing reps to …. These results highlight the importance of reps in risk allocation, reducing information asymmetry and creating value, but …

institutions’ systematic risk. We then develop an index of the estimated equity value loss as the long-rum marginal expected … shortfall (LRMES). LRMES contributes to compute systemic risk (SRISK) contribution of these firms, which is the capital that a … firm is expected to need if we have another financial crisis.FindingsLarge acquiring banks decrease systemic risk …

SBOs are less attractive investment targets for buyouts and some empirical indication against an outperformance of SBOs … exists, the share of SBOs continuously increases. However, SBOs might be a favourable target with regard to its investment … risk. Using a unique dataset of 295 PBOs and their consecutive SBOs in the UK, we analyse the risk level of financial …

valuation changes are measures of target valuation uncertainty. Risk-averse acquirer managers likely require compensation when … their firms take on valuation risk through the acquisition of hard-to-value targets. Diversified shareholders of public … offloading idiosyncratic risk. Without compensation for the acquirer in the form of lower acquisition prices, acquirer managers …

participants, our framework studies security repurchase agreements between risk-averse borrowers and lenders. In this manner, repo … agreements are part of an efficient risk-sharing arrangement. In turn, properties of the agreements depend on environmental … conditions such as the degree of risk aversion, default risk, and the market value of collateral. Previous work based upon risk …

The incremental risk charge (IRC) is a new regulatory requirement from the Basel Committee in response to the recent … generated. The second Monte Carlo simulation is the random draws based on the constant level of risk assumption. It convolutes …

between short-term repo and long-term investments that banks need to finance. The resulting rollover risk in repo financing … more likely to default in the future when they start financing their own investment. So, illiquidity becomes contagious … failing mechanism. I show that, as in the crisis, when collateral risk increases unexpectedly, the haircut and interest rate …