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Oehmke, Martin - 2015

Defaults of financial institutions can cause large, disorderly liquidations of repo collateral. This paper analyzes the dynamics of such liquidations. The model shows that (i) the equilibrium price of the collateral asset can overshoot; (ii) the creditor structure in repo lending involves a...

Persistent link: https://www.econbiz.de/10013036180

Default Risk in Corporate Yield Spreads

Dionne, Georges - 2010

An important research question examined in the credit risk literature focuses on the proportion of corporate yield spreads attributed to default risk. This topic is reexamined in the light of the different issues associated with the computation of transition and default probabilities obtained...

Persistent link: https://www.econbiz.de/10012717692

Ownership, control and market liquidity

Hamon, Jacques; Ginglinger, Edith - Université Paris-Dauphine (Paris IX)

We examine how ownership concentration and the separation of ownership and control affect market liquidity in France …. We find that firms with a large insider blockholder exhibit significantly lower liquidity. Different methods of … concentrating control affect liquidity in different ways. Pyramid structures negatively affect liquidity for all pyramiding firms …

Persistent link: https://www.econbiz.de/10010706821

Ownership, control and market liquidity

Hamon, Jacques; Ginglinger, Edith - Université Paris-Dauphine (Paris IX) - 2012

We examine how ownership concentration and the separation of ownership and control affect secondary-market liquidity in … France. We find that firms with a large insider blockholder exhibit significantly lower liquidity. However, different methods … of enhancing control affect liquidity in different ways. Pyramid structures impair market liquidity. Double voting right …

Persistent link: https://www.econbiz.de/10010708299

Ownership, control and market liquidity.

Hamon, Jacques; Ginglinger, Edith - Université Paris-Dauphine

Persistent link: https://www.econbiz.de/10008572210

Over-allotment options in IPOs on Germany's Neuer Markt: An empirical investigation

Franzke, Stefanie A.; Schlag, Christian - 2002

Over-allotment arrangements are nowadays part of almost any initial public offering. The underwriting banks borrow stocks from the previous shareholders to issue more than the initially announced number of shares. This is combined with the option to cover this short position at the issue price....

Persistent link: https://www.econbiz.de/10010292627

Over-allotment options in IPOs on Germany's Neuer Markt: An empirical investigation

Franzke, Stefanie A.; Schlag, Christian - 2003

Persistent link: https://www.econbiz.de/10010317410

Over-allotment options in IPOs on Germany's Neuer Markt : an empirical investigation

Franzke, Stefanie A.; Schlag, Christian - 2003 - This version: September 28, 2003

Persistent link: https://www.econbiz.de/10009767115

Over-allotment options in IPOs on Germany's Neuer Markt: An empirical investigation

Franzke, Stefanie A.; Schlag, Christian - Center for Financial Studies - 2003

Persistent link: https://www.econbiz.de/10010958538

Why do Companies Include Warrants in Seasoned Equity Offerings: The case of French Unit Offerings

Lasfer, Meziane; Ginglinger, Edith; Gajewski, Jean-François - Université Paris-Dauphine (Paris IX) - 2005

We analyse the reasons why companies issue units when they raise additional capital. In contrast to previous evidence, our results show that units are not offered to mitigate the agency conflicts or to signal security mispricing as they are predominantly issued during cold periods, in public...

Persistent link: https://www.econbiz.de/10010861624