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Securitization, competition and monitoring
Ahn, Jung-Hyun; Breton, Régis - In: Journal of Banking & Finance 40 (2014) C, pp. 195-210
effect of securitization that allows banks to extract rents in the primary loan market. By reducing monitoring incentives …We analyze the impact of loan securitization on competition in the loan market. Using a dynamic loan market competition …, securitization mitigates winner’s curse effects in future stages of competition thereby decreasing ex ante competition for initial …
Persistent link: https://www.econbiz.de/10010738296
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Securitization, competition and monitoring
Ahn, Jung-hyun; Breton, Régis - In: Journal of banking & finance 40 (2014), pp. 195-210
Persistent link: https://www.econbiz.de/10010402238
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Securitization, Competition and Monitoring
Ahn, Jung-Hyun - 2013
effect of securitization that allows banks to extract rents in the primary loan market. By reducing monitoring incentives …We analyze the impact of loan securitization on competition in the loan market. Using a dynamic loan market competition …, securitization mitigates winner's curse effects in future stages of competition thereby decreasing ex ante competition for initial …
Persistent link: https://www.econbiz.de/10013073906
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Loan sales under asymmetric information
Vargas, Mónica - UNIVERSIDAD DEL ROSARIO - 2010
Loans are illiquid assets that can be sold in a secondary market even that buyershave no certainty about their quality. I study a model in which a lender has accessto new investment opportunities when all her assets are illiquid. To raise funds, thelender may either borrow using her assets as...
Persistent link: https://www.econbiz.de/10008540658
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Loan Sales and Screening Incentives
Bester, Helmut; Gehrig, Thomas; Stenbacka, Rune - C.E.P.R. Discussion Papers - 2012
We analyze the effect of loan sales on the intensity of costly screening. Loan sales strengthen screening incentives when screening primarily improves the bank’s ability to identify profitable loans and when banks retain most of those profitable loans. However, loan sales dampen screening...
Persistent link: https://www.econbiz.de/10011083726
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Bank Solvency, Market Structure, and Monitoring Incentives
Caminal, Ramon; Matutes, Carmen - C.E.P.R. Discussion Papers - 1997
between two second-best alternative devices: costly monitoring and credit rationing. We show that investment depends on both … the lending rate and the information structure. Since monitoring incentives increase with interest rate margins, the …
Persistent link: https://www.econbiz.de/10005662062
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Softening competition by enhancing entry : an example from the banking industry
Bouckaert, Jan; Degryse, Hans - 2002
We show that competing firms relax overall competition by lowering future barriers to entry. We illustrate our findings in a two-period model with adverse selection where banks strategically commit to disclose borrower information. By doing this, they invite rivals to enter their market....
Persistent link: https://www.econbiz.de/10011541031
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Softening Competition by Enhancing Entry: An Example from the Banking Industry
Bouckaert, Jan; Degryse, Hans - Centro Studi di Economia e Finanza (CSEF) - 2002
We show that competing firms relax overall competition by lowering future barriers to entry. We illustrate our findings in a two-period model with adverse selection where banks strategically commit to disclose borrower information. By doing this, they invite rivals to enter their market....
Persistent link: https://www.econbiz.de/10005802037
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Entry and Strategic Information Display in Credit Markets
Bouckaert, Jan; Degryse, Hans - Centro Studi di Economia e Finanza (CSEF) - 2002
The Riegle-Neal Act in the US and the Economic and Monetary Union in Europe are recent initiatives to stimulate financial integration. These initiatives allow new entrants to "poach" the incumbents' clients by offering them attractive loan offers. We show that these deregulations may be...
Persistent link: https://www.econbiz.de/10005802057
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Measurement of Competitiveness Degree in Tunisian Deposit Banks: An Application of the Panzar and Rosse Model
Mensi, Sami - In: Panoeconomicus 57 (2010) 2, pp. 189-207
This paper explores the use of the Panzar-Rosse statistic as a basis for empirical assessment of competitive conditions among Tunisian deposit banks. The elaborated model has been tested with an interest revenues equation and a total revenues equation. Proceeding by means of an Ordinary Least...
Persistent link: https://www.econbiz.de/10008554185