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Are structured products a sustainable financial innovation? A lesson from the European markets
Burchi, Alberto; Musile Tanzi, Paola - In: Journal of Financial Perspectives 2 (2014) 3, pp. 147-158
Structured products are a complex outcome of the financial innovation process, and what many would like to know is who profits from this kind of financial innovation and whether issuers are influenced by market trends. Taking into account the complexity of structured products, we analyze the...
Persistent link: https://www.econbiz.de/10011096786
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The management of interest rate risk during the crisis: evidence from Italian banks
Esposito, Lucia; Nobili, Andrea; Ropele, Tiziano - Banca d'Italia - 2013
by hedging with financial derivatives. But the complementary relationship between risk-management decisions differs …
Persistent link: https://www.econbiz.de/10011099623
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Banking Firm and Two-Moment Decision Making
Broll, Udo; Wong, Wing-Keung; Wu, Mojia - Volkswirtschaftliche Fakultät, … - 2013
on how interest rate risk affects optimal bank investment in the loan and deposit market when derivatives are available …
Persistent link: https://www.econbiz.de/10011112037
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From Financial Tradition to Innovation in Contemporary Banking
Mitrescu, Silvia Ghita; Duhnea, Cristina; Nitu, Oana - In: Ovidius University Annals, Economic Sciences Series X (2010) 1, pp. 1608-1613
The financial crisis that affected the world market in late 2007 and determinate the failure of some prestigious banks and an unprecedented collapse of the stock market indices had multiple causes and lead to the transformation of the global financial market. To determine the causes that have...
Persistent link: https://www.econbiz.de/10008854956
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DERIVATIVE USE BY ROMANIAN BANKS AFTER THE EU ADHESION: A FINANCIAL REPORTING PERSPECTIVE
Huian, Maria Carmen; Apostol, Ciprian - In: CES Working Papers 6(2) (2014) July, pp. 74-84
Romanian banks use derivatives to hedge against or speculate on the movement of economic variables such as foreign …) and individual accounts (starting with 2012). This paper analyzes disclosures on derivatives for a 6-year period (2007 … Romanian banks use derivatives, mostly for economic hedges and without much application of hedge accounting. Swaps are the most …
Persistent link: https://www.econbiz.de/10010903890
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Trading income and bank charter value during the financial crisis: Does derivatives dealer designation matter?
Egly, Peter V.; Sun, Jun - In: The Quarterly Review of Economics and Finance 54 (2014) 3, pp. 355-370
small and seems to be tied to BHCs derivatives dealer trading designation. We also find that trading incomes are a modest …
Persistent link: https://www.econbiz.de/10010906240
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DERIVATIVE USE BY ROMANIAN BANKS AFTER THE EU ADHESION: A FINANCIAL REPORTING PERSPECTIVE
Huian, Maria Carmen; Apostol, Ciprian - In: CES Working Papers 6(2) (2014) July, pp. 74-84
Romanian banks use derivatives to hedge against or speculate on the movement of economic variables such as foreign …) and individual accounts (starting with 2012). This paper analyzes disclosures on derivatives for a 6-year period (2007 … Romanian banks use derivatives, mostly for economic hedges and without much application of hedge accounting. Swaps are the most …
Persistent link: https://www.econbiz.de/10010929221
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Risk-sharing or risk-taking? An incentive theory of counterparty risk, clearing and margins
Biais, Bruno; Heider, Florian; Hoerova, Marie - Institut d'Économie Industrielle (IDEI), Toulouse … - 2014
Derivatives activity, motivated by risk-sharing, can breed risk taking. Bad news about the risk of the asset underlying …
Persistent link: https://www.econbiz.de/10010934674
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Risk-sharing or risk-taking? An incentive theory of counterparty risk, clearing and margins
Biais, Bruno; Heider, Florian; Hoerova, Marie - Toulouse School of Economics (TSE) - 2014
Derivatives activity, motivated by risk-sharing, can breed risk taking. Bad news about the risk of the asset underlying …
Persistent link: https://www.econbiz.de/10010934780
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Risk-sharing or risk-taking? Counterparty risk, incentives and margins
Biais, Bruno; Heider, Florian; Hoerova, Marie - 2012
We analyze optimal hedging contracts and show that although hedging aims at sharing risk, it can lead to more risk-taking. News implying that a hedge is likely to be loss-making undermines the risk-prevention incentives of the protection seller. This incentive problem limits the capacity to...
Persistent link: https://www.econbiz.de/10011605458