Log in

Relevant bibliographies by topics / Collateralized Financing / Journal articles

To see the other types of publications on this topic, follow the link: Collateralized Financing.

Journal articles on the topic 'Collateralized Financing'

Author: Grafiati

Published: 4 June 2021

Last updated: 1 February 2022

Create a spot-on reference in APA, MLA, Chicago, Harvard, and other styles

Select a source type:

Consult the top 50 journal articles for your research on the topic 'Collateralized Financing.'

Next to every source in the list of references, there is an 'Add to bibliography' button. Press on it, and we will generate automatically the bibliographic reference to the chosen work in the citation style you need: APA, MLA, Harvard, Chicago, Vancouver, etc.

You can also download the full text of the academic publication as pdf and read online its abstract whenever available in the metadata.

Browse journal articles on a wide variety of disciplines and organise your bibliography correctly.

1

Choi, Gongpil. "Toward a Central Bank Collateral Framework for ABMI." Journal of Asian Research 5, no. 2 (2021): p23. http://dx.doi.org/10.22158/jar.v5n2p23.

Full text

Abstract:

The post-global financial crisis highlighted the importance of engaging in collateralized securities financing to meet the ever-increasing market needs for liquidity and risk management. Given the heavy reliance on volatile Eurodollar system and the fragmented governance and limited cross-border usability of the collateral among ASEAN+3 countries, it is important to relax prevailing constraints on collateral and mobilize cross-border transactions. To address the imperatives for securing collateral-based cross-border financial markets in the region, Asia needs the initiatives of central banks t

APA, Harvard, Vancouver, ISO, and other styles

2

Kim, Sehwa, Seil Kim, and Stephen G. Ryan. "Economic Consequences of the AOCI Filter Removal for Advanced Approaches Banks." Accounting Review 94, no. 6 (2019): 309–35. http://dx.doi.org/10.2308/accr-52436.

Full text

Abstract:

ABSTRACT We examine economic consequences of U.S. bank regulators' phased removal of the prudential filter for accumulated other comprehensive income for advanced approaches banks beginning on January 1, 2014. The primary effect of the AOCI filter is to exclude unrealized gains and losses on available-for-sale securities from banks' regulatory capital. We predict and find that, to mitigate regulatory capital volatility resulting from the filter removal, advanced approaches banks increased the proportion of investment securities classified as held-to-maturity, thereby limiting their financing a

APA, Harvard, Vancouver, ISO, and other styles

3

Legenchuk, Sergiy, Maryna Pashkevych, Olga Usatenko, Olha Driha, and Valentyna Ivanenko. "Securitization as an innovative refinancing mechanism and an effective asset management tool in a sustainable development environment." E3S Web of Conferences 166 (2020): 13029. http://dx.doi.org/10.1051/e3sconf/202016613029.

Full text

Abstract:

Today’s realities dictate to Ukrainian companies a management philosophy that requires them not only to maintain their position in the market, but also to increase the efficiency of their operations and development in the context of favorable and unfavorable changes in the market environment, which necessitates significant amounts of financial resources. In the face of global competition and the increased turbulence of the external environment, securitization is one of the alternative tools to attract additional financing as well as to minimize risks by which financial markets can support sust

APA, Harvard, Vancouver, ISO, and other styles

4

Abdullah, Junaidi. "PELAKSANAAN EKSEKUSI JAMINAN FIDUSIA DALAM PERJANJIAN PEMBIAYAAN DI KSPS LOGAM MULIA KECAMATAN KLAMBU KABUPATEN GROBOGAN." YUDISIA : Jurnal Pemikiran Hukum dan Hukum Islam 8, no. 1 (2018): 121. http://dx.doi.org/10.21043/yudisia.v8i1.3222.

Full text

Abstract:

<p>Any loan or financing agreement made by a sharia financial institution, whether bank or non-bank, more particularly KSPS Logam Mulia, usually requires a guarantee. Guaranteed goods guaranteed by the community or its members may be movable objects such as motorcycles or cars (guaranteed by BPKB) and may be non-moving objects in the form of buildings or land (guaranteed usually land certificates) .To to legalize the guarantee goods, the guarantee goods. For moving objects in the form of fiduciary and immovable property through mortgages.</p><p> With the existence of objects

APA, Harvard, Vancouver, ISO, and other styles

5

Sobirin, Sobirin, and Junaidi Abdullah. "Eksekusi Hak Tanggungan dalam Perjanjian Pembiayaan." TAWAZUN : Journal of Sharia Economic Law 2, no. 1 (2019): 19. http://dx.doi.org/10.21043/tawazun.v2i1.5288.

Full text

Abstract:

<p>BMT both in the form of KJKS and KSPS in providing loans and financing can be in the form of Mudhorobah, Murobahah or Musyarokah, usually KJKS and KSPS parties make the conditions in the form of collateral. Goods that are used as collateral can be in the form of movable or immovable objects. When collateral is in the form of a moving object (usually in the form of a motorcycle or car), the KJKS and KSPS will make a fiduciary guarantee and when the collateral is in the form of immovable property (usually in the form of land or house), the KSPS and KJKS will dependents. When a member wh

APA, Harvard, Vancouver, ISO, and other styles

6

C. Hardy, Daniel. "Bank resolution costs, depositor preference and asset encumbrance." Journal of Financial Regulation and Compliance 22, no. 2 (2014): 96–114. http://dx.doi.org/10.1108/jfrc-07-2013-0022.

Full text

Abstract:

Purpose – This paper aims to clarify the effects of introducing depositor preference on resolution costs, probability of default and bank funding costs, allowing for the possibility of collateralized funding. Design/methodology/approach – The importance of conflict among creditors in generating bankruptcy costs is documented. A model of such a conflict is provided, which is then used in analyzing the effects of depositor preference and other forms of asset encumbrance. The model takes into account the reactions of providers of secured and unsecured financing. Findings – Depositor preference an

APA, Harvard, Vancouver, ISO, and other styles

7

Bluhm, Christian, and Christoph Wagner. "Valuation and Risk Management of Collateralized Debt Obligations and Related Securities." Annual Review of Financial Economics 3, no. 1 (2011): 193–222. http://dx.doi.org/10.1146/annurev-financial-102710-144835.

Full text

APA, Harvard, Vancouver, ISO, and other styles

8

Xiao, Tim. "A New Model for Pricing Collateralized Financial Derivatives." Journal of Derivatives 24, no. 4 (2017): 8–20. http://dx.doi.org/10.3905/jod.2017.24.4.008.

Full text

APA, Harvard, Vancouver, ISO, and other styles

9

Iraola, Miguel A., Fabián Sepúlveda, and Juan Pablo Torres-Martínez. "Financial segmentation and collateralized debt in infinite-horizon economies." Journal of Mathematical Economics 80 (January 2019): 56–69. http://dx.doi.org/10.1016/j.jmateco.2018.10.007.

Full text

APA, Harvard, Vancouver, ISO, and other styles

10

MENEZES, ADRIANO CAMPOS, and JAIME ORRILLO. "CONCERNING THE SEIZURE OF COLLATERAL IN COLLATERALIZED LOAN MARKETS." Annals of Financial Economics 13, no. 03 (2018): 1850013. http://dx.doi.org/10.1142/s2010495218500136.

Full text

Abstract:

This paper deals with the frictions which arise in the transfer of collateral from borrowers to lenders in case of default in collateralized loans. We propose a simple model of collateralized loans in which the sale of assets (borrowing) is tied to the purchase of a put option written on the collateral whose exercise price is the value of debt made by the borrower who is the holder of the put. Thus, lenders protect themselves against the possibility of not being able to seize the collateral in case of default. We show that this new financial mechanism does not destroy the orderly function of m

APA, Harvard, Vancouver, ISO, and other styles

11

Chen, Yi-Kai, Lanfeng Kao, Alan T. Wang, and Ming–Hsuan Hsieh. "Directorship, collateralized shares, risk, and performance of Taiwan banking industry." Corporate Ownership and Control 6, Special Issue 1 (2008): 57–71. http://dx.doi.org/10.22495/cocv6i1c1p5.

Full text

Abstract:

In recent years, considerable concerns have arisen over the issue of corporate governance in banks’ supervision. One of the major issues has been investigated whether the sound mechanism of corporate governance benefits bank risk management and performance. The collateralized shares, serving stocks as collaterals, are one of financial leverage approaches and it is likely to be an incentive for block shareholders to misapply assets due to the deviation between the controlship and the ownership. The objective of this study is to examine whether the attitude of the board of directors toward risk

APA, Harvard, Vancouver, ISO, and other styles

12

Fostel, Ana, and John Geanakoplos. "Financial Innovation, Collateral, and Investment." American Economic Journal: Macroeconomics 8, no. 1 (2016): 242–84. http://dx.doi.org/10.1257/mac.20130183.

Full text

Abstract:

Financial innovations that change how promises are collateralized affect prices and investment, even in the absence of any change in fundamentals. In C-models, the ability to leverage an asset always generates overinvestment compared to Arrow-Debreu. Credit Default Swaps always leads to underinvestment with respect to Arrow-Debreu, and in some cases even robustly destroy competitive equilibrium. The need for collateral would seem to cause under-investment. Our analysis illustrates a countervailing force: goods that serve as collateral yield additional services and can therefore be over-valued

APA, Harvard, Vancouver, ISO, and other styles

13

Guse, Matthew, Woojung Park, Zack Saravay, and Youngsuk Yook. "Collateralized Loan Obligations in the Financial Accounts of the United States." FEDS Notes 2019, no. 2447 (2019): 1–8. http://dx.doi.org/10.17016/2380-7172.2447.

Full text

APA, Harvard, Vancouver, ISO, and other styles

14

McDonald, Robert, and Anna Paulson. "AIG in Hindsight." Journal of Economic Perspectives 29, no. 2 (2015): 81–106. http://dx.doi.org/10.1257/jep.29.2.81.

Full text

Abstract:

The near-failure on September 16, 2008, of American International Group (AIG) was an iconic moment in the financial crisis. Two large bets on real estate made with funding vulnerable to bank-run-like dynamics pushed AIG to the brink of bankruptcy. AIG used securities lending to transform insurance company assets into residential mortgage-backed securities and collateralized debt obligations, ultimately losing at least $21 billion and threatening the solvency of the life insurance companies. AIG also sold insurance on multisector collateralized debt obligations, backed by real estate assets, ul

APA, Harvard, Vancouver, ISO, and other styles

15

Prorokowski, Lukasz, and Hubert Prorokowski. "FVA – Sailing on the uncharted waters." Journal of Financial Regulation and Compliance 23, no. 1 (2015): 31–54. http://dx.doi.org/10.1108/jfrc-01-2014-0005.

Full text

Abstract:

Purpose – This report aims to investigate the approaches taken by financial institution to implement and compute the funding valuation adjustment (FVA). FVA can be defined as the incremental cost attributable to trades with non-collateralised counterparties. This cost emerges related to the need to fund the collateral calls associated with collateralised hedge trades. In this respect, one common challenge faced by banks relates to designing appropriate methodological approaches to compute an FVA. Design/methodology/approach – Recognising the growing importance of an FVA, this report is designe

APA, Harvard, Vancouver, ISO, and other styles

16

Scharding, Tobey. "Structured Finance and the Social Contract: How Tranching Challenges Contractualist Approaches to Financial Risk." Business Ethics Quarterly 29, no. 1 (2018): 1–24. http://dx.doi.org/10.1017/beq.2018.18.

Full text

Abstract:

ABSTRACT:Many ethicists argue that contract theory offers the most promising strategy for regulating risks. I challenge the adequacy of the contractualist approach for evaluating the complicated, novel risks associated with some structured financial products, particularly focusing on risks to third parties. Structured financial products like collateralized debt obligations (CDOs) divide a pool of financial assets into risk “tranches” organized from least to most risky. Investors purchase various tranches based on their individual risk-and-return preferences. Whereas contract theory holds that

APA, Harvard, Vancouver, ISO, and other styles

17

Jameson, Mel, S. Dewan, and C. F. Sirmans. "Measuring welfare effects of “unbundling” financial innovations: The case of collateralized mortgage obligations." Journal of Urban Economics 31, no. 1 (1992): 1–13. http://dx.doi.org/10.1016/0094-1190(92)90029-k.

Full text

APA, Harvard, Vancouver, ISO, and other styles

18

Hardie, Iain, and Donald Mackenzie. "The Lemon-Squeezing Problem: Analytical and Computational Limitations in Collateralized Debt Obligation Evaluation." Competition & Change 18, no. 5 (2014): 383–401. http://dx.doi.org/10.1179/1024529414z.00000000067.

Full text

Abstract:

This article analyses collateralized debt obligations (CDOs), complex securities that were at the heart of the recent financial crisis. The difficulties of analysing these securities are considered, and it is argued that the increasing complexity of CDOs that repackaged mortgage-backed securities outpaced the returns available to investors, and therefore the resources available to pay for the analysis required to value the securities adequately within the timeframe available. CDOs therefore faced the problem of computational intractability. Such an outcome was, the article argues, inevitable i

APA, Harvard, Vancouver, ISO, and other styles

19

Yang, Yifan, Frank J. Fabozzi, and Michele Leonardo Bianchi. "Bilateral counterparty risk valuation adjustment with wrong way risk on collateralized commodity counterparty." Journal of Financial Engineering 02, no. 01 (2015): 1550001. http://dx.doi.org/10.1142/s2345768615500014.

Full text

Abstract:

Basel III requires banks to include a credit value adjustment (CVA) into capital charges. Both CVA and debt value adjustment (DVA) must be included for derivatives using mark-to-market accounting. An effective method to calculate bilateral-CVA (BR-CVA) by incorporating wrong-way risk (WWR) for a collateralized counterparty is proposed which handles WWR — defined as when counterparty credit exposure increases as default probability increases — by building a trivariate Gaussian copula between the aggregate market risk exposure factor and default quality of the financial institution and counterpa

APA, Harvard, Vancouver, ISO, and other styles

20

Longstaff, Francis A., and Brett W. Myers. "How Does the Market Value Toxic Assets?" Journal of Financial and Quantitative Analysis 49, no. 2 (2014): 297–319. http://dx.doi.org/10.1017/s0022109014000222.

Full text

Abstract:

AbstractHow does the market value “toxic” structured-credit securities? We study the valuation of what is possibly the most toxic of all toxic assets: the equity tranche of a collateralized debt obligation (CDO). In theory, CDO equity should be similar in nature to bank stock since both represent residual claims on a portfolio of loans. We find CDO equity returns are much more related to stock returns than to fixed-income returns. CDO equity returns track the returns of financial stocks much more closely than any other industry. Nearly two-thirds of the variation in CDO returns can be explaine

APA, Harvard, Vancouver, ISO, and other styles

21

Chen, Tai-Yuan, Chen-Lung Chin, Shiheng Wang, and Wei-Ren Yao. "The Effects of Financial Reporting on Bank Loan Contracting in Global Markets: Evidence from Mandatory IFRS Adoption." Journal of International Accounting Research 14, no. 2 (2015): 45–81. http://dx.doi.org/10.2308/jiar-51031.

Full text

Abstract:

ABSTRACT This study examines the effects of the mandatory adoption of International Financial Reporting Standards (IFRS) on the contract terms of bank loans in a global setting. Using a difference-in-differences design based on 26,474 bank loans in 31 countries during the 2000–2011 period, we find that borrowers who mandatorily adopt IFRS experience an increase in interest rates, a reduction in the use of accounting-based financial covenants, an increase in the likelihood that a loan is collateralized, a reduction in loan maturity, and an increase in the fraction of a loan retained by lead arr

APA, Harvard, Vancouver, ISO, and other styles

22

Reverchuk, Serhiy, Olga Vovchak, Tetyana Yavorska, Lyudmyla Voytovych, and Olesya Irshak. "Investment activities of banks, insurance companies, and non-government pension funds in Ukraine." Investment Management and Financial Innovations 17, no. 2 (2020): 353–63. http://dx.doi.org/10.21511/imfi.17(2).2020.27.

Full text

Abstract:

Successful solution of main problems and contradictions in the development of financial intermediaries’ investment activities largely depends on their timely detection, which is facilitated using trend forecasting models. The research aims to determine the current investment potential of financial intermediaries in the Ukrainian economy, find out the features and general problems, and identify the main perspective directions for the development of their investment activities. The article reveals the main internal and external factors and the source of development and inhibition of Ukrainian ba

APA, Harvard, Vancouver, ISO, and other styles

23

Reichman, Nancy, and Ophir Sefiha. "Regulating Performance-Enhancing Technologies." ANNALS of the American Academy of Political and Social Science 649, no. 1 (2013): 98–119. http://dx.doi.org/10.1177/0002716213490880.

Full text

Abstract:

This article compares the efforts to govern performance enhancement technologies in two seemingly different competitive arenas—financial markets and professional cycling—where the pressures to outperform are enormous. In the two decades prior to the 2007 financial crisis, new derivative financial commodities such as collateralized debt obligations (CDOs) were created to “juice up” investment returns for extraordinary profits. Over roughly the same period, the development and use of blood boosting drugs and technologies brought so-called doping by cyclists to new levels of complexity and sophis

APA, Harvard, Vancouver, ISO, and other styles

24

Gorton, Gary, and Guillermo Ordoñez. "Collateral Crises." American Economic Review 104, no. 2 (2014): 343–78. http://dx.doi.org/10.1257/aer.104.2.343.

Full text

Abstract:

Short-term collateralized debt, private money, is efficient if agents are willing to lend without producing costly information about the collateral backing the debt. When the economy relies on such informationally insensitive debt, firms with low quality collateral can borrow, generating a credit boom and an increase in output. Financial fragility is endogenous; it builds up over time as information about counterparties decays. A crisis occurs when a ( possibly small) shock causes agents to suddenly have incentives to produce information, leading to a decline in output. A social planner would

APA, Harvard, Vancouver, ISO, and other styles

25

Koudijs, Peter, and Hans-Joachim Voth. "Leverage and Beliefs: Personal Experience and Risk-Taking in Margin Lending." American Economic Review 106, no. 11 (2016): 3367–400. http://dx.doi.org/10.1257/aer.20140259.

Full text

Abstract:

What determines risk-bearing capacity and the amount of leverage in financial markets? Using unique archival data on collateralized lending, we show that personal experience can affect individual risk-taking and aggregate leverage. When an investor syndicate speculating in Amsterdam in 1772 went bankrupt, many lenders were exposed. In the end, none of them actually lost money. Nonetheless, only those at risk of losing money changed their behavior markedly; they lent with much higher haircuts. The rest continued largely as before. The differential change is remarkable since the distress was pub

APA, Harvard, Vancouver, ISO, and other styles

26

Jensen, Henrik, Ivan Petrella, Søren Hove Ravn, and Emiliano Santoro. "Leverage and Deepening Business-Cycle Skewness." American Economic Journal: Macroeconomics 12, no. 1 (2020): 245–81. http://dx.doi.org/10.1257/mac.20170319.

Full text

Abstract:

We document that the United States and other G7 economies have been characterized by an increasingly negative business-cycle asymmetry over the last three decades. This finding can be explained by the concurrent increase in the financial leverage of households and firms. To support this view, we devise and estimate a dynamic general equilibrium model with collateralized borrowing and occasionally binding credit constraints. Improved access to credit increases the likelihood that financial constraints become nonbinding in the face of expansionary shocks, allowing agents to freely substitute int

APA, Harvard, Vancouver, ISO, and other styles

27

Boulanger, Pier-Pascale, and Chantal Gagnon. "Financial Innovation and Institutional Voices in the Canadian Press: A Look at the Roaring 2000s." International Journal of Business Communication 55, no. 3 (2018): 383–405. http://dx.doi.org/10.1177/2329488417747596.

Full text

Abstract:

This corpus-assisted analysis examines seven Canadian newspapers from 2001 to 2008 in English and in French. It focuses on the speech that journalists reported when covering new financial instruments, namely collateralized debt obligations, credit default swaps, and asset-backed commercial paper. Eight years of news were surveyed with a concordancer and the data were analyzed using critical discourse analysis. The data show a wider range of voices in the English subcorpus when compared with the French. In both subcorpora, however, journalistic attitude was neutral and critical voices were dese

APA, Harvard, Vancouver, ISO, and other styles

28

Hamerle, Alfred, Thilo Liebig, and Hans-Jochen Schropp. "The impact of collateralized debt obligation arbitrage on tranching and financial leverage of structured finance securities." Journal of Risk 16, no. 1 (2013): 3–33. http://dx.doi.org/10.21314/jor.2013.267.

Full text

APA, Harvard, Vancouver, ISO, and other styles

29

Parnes, Dror. "Dynamic risk model for CMO with credit tranching." International Journal of Financial Engineering 02, no. 04 (2015): 1550041. http://dx.doi.org/10.1142/s2424786315500413.

Full text

Abstract:

In this paper, we present a dynamic risk model that can assess the stochastic credit quality of senior tranches of collateralized mortgage obligations (CMO) while supported by any number of junior bond classes. We design the model to be universal and to embed common hazards and retreats within the U.S. housing market. This deployment assists us in resolving real problems when gauging the dynamic creditworthiness of CMOs’ senior bond tranches. Resulting from our subsequent theoretical simulations, we discover the boundaries of these structured financial instruments when exposed to relatively mo

APA, Harvard, Vancouver, ISO, and other styles

30

Dechow, Patricia M., and Catherine Shakespear. "Do Managers Time Securitization Transactions to Obtain Accounting Benefits?" Accounting Review 84, no. 1 (2009): 99–132. http://dx.doi.org/10.2308/accr.2009.84.1.99.

Full text

Abstract:

ABSTRACT: Relative to recording securitizations as collateralized borrowings, the “gain on sale” treatment has several accounting benefits such as reducing leverage, increasing earnings, and improving efficiency. We investigate whether managers engage in real transaction management to take advantages of these benefits. We predict that in order to maximize financial statement window-dressing, managers will engage in securitizations toward the end of the quarter. We find that 41 percent of the quarter's transactions occur in the third month of the quarter and almost half of these occur in the la

APA, Harvard, Vancouver, ISO, and other styles

31

Oldani, Chiara. "Global financial regulatory reforms and sovereign’s exemption." Journal of Financial Regulation and Compliance 26, no. 2 (2018): 190–202. http://dx.doi.org/10.1108/jfrc-11-2016-0105.

Full text

Abstract:

Purpose The purpose of this paper is to underline the (hidden) risks posed after the crisis by the exemption of non-financial operators, especially sovereigns, from the regulatory reforms of over the counter (OTC) derivatives undertaken by G20 countries in the absence of accounting data on trading. Design/methodology/approach Recent financial regulatory improvements are reported to underline that the trading of OTC derivatives by sovereigns and local administrations does not take place under the new regulatory umbrella, because of the relative size of the institution, the lack of incentives to

APA, Harvard, Vancouver, ISO, and other styles

32

Caplan, Dennis H., Saurav K. Dutta, and David J. Marcinko. "Lehman on the Brink of Bankruptcy: A Case about Aggressive Application of Accounting Standards." Issues in Accounting Education 27, no. 2 (2012): 441–59. http://dx.doi.org/10.2308/iace-50126.

Full text

Abstract:

ABSTRACT In September 2008, Lehman became the largest company in U.S. history to file for bankruptcy. Nine months earlier, Lehman had reported record revenue and earnings for 2007, and had started the year with a market capitalization of over $30 billion. Lehman's precipitous fall has been attributed to a high-risk business strategy and to aggressive interpretation of accounting rules. Lehman was both a victim of—and an important contributor to—the worst U.S. economic recession since the Great Depression, and the firm's accounting choices warrant scrutiny. This case is structured around collat

APA, Harvard, Vancouver, ISO, and other styles

33

Cho, Man, Seung Dong You, and Young Man Lee. "Financial Consumer Protection in the Household Lending Sector : An Assessment of the Korean Experience." International Review of Financial Consumers 2, No. 2 Oct 2017 (2017): 15–34. http://dx.doi.org/10.36544/irfc.2017.1-2.2.

Full text

Abstract:

The objective of this paper is to offer a systematic review and assessment of the policy measures adopted to date for financial consumer protection (FCP) in the household lending sector in Korea. In so doing, we focus on the “software” aspects of the policies adopted so far in terms of four particular groups of consumer issues: (1) information provision (by service providers), (2) financial literacy programs, (3) sales practices, and (4) dispute resolution (rules and processes). We also attempt to relate the FCP policies to two broader goals of financial market regulations - financial stabilit

APA, Harvard, Vancouver, ISO, and other styles

34

Chircop, Justin, Paraskevi Vicky Kiosse, and Ken Peasnell. "Should Repurchase Transactions be Accounted for as Sales or Loans?" Accounting Horizons 26, no. 4 (2012): 657–79. http://dx.doi.org/10.2308/acch-50176.

Full text

Abstract:

SYNOPSIS: In this paper, we discuss the accounting for repurchase transactions, drawing on how repurchase agreements are characterized under U.S. bankruptcy law, and in light of the recent developments in the U.S. repo market. We conclude that the current accounting rules, which require the recording of most such transactions as collateralized loans, can give rise to opaqueness in a firm's financial statements because they incorrectly characterize the economic substance of repurchase agreements. Accounting for repurchase transactions as sales and the concurrent recognition of a forward, as “Re

APA, Harvard, Vancouver, ISO, and other styles

35

Domenichelli, Oscar. "Main financial factors influencing the survival, development and performance of family firms." RIVISTA DI STUDI SULLA SOSTENIBILITA', no. 1 (March 2012): 125–43. http://dx.doi.org/10.3280/riss2012-001008.

Full text

Abstract:

Sometimes the impossibility of employing an adequate level of debt may prevent family firms from developing or reaching high performance; however, they can increase their ability to collect debt finance thanks to personal assets to collateralize or personal guarantees, supplied by family members. Furthermore, agency costs of equity are negligible in family businesses, owing to the insignificant separation among the functions of ownership, control and management and their intra-familial altruistic linkages, but agency costs of debt are high, as family firms are usually small or medium-sized ent

APA, Harvard, Vancouver, ISO, and other styles

36

Lartey, Franklin M. "Ethical Challenges of Complex Products: Case of Goldman Sachs and the Synthetic Collateralized Debt Obligations." International Business Research 13, no. 6 (2020): 115. http://dx.doi.org/10.5539/ibr.v13n6p115.

Full text

Abstract:

In analyzing complex products, this study selected the company Goldman Sachs and one of its product offerings, the synthetic collateralized debt obligation (synthetic CDO). The study later analyzed the ethical implications of providing such a complex product to customers. A review of the literature indicates that researchers identified this product and other associated derivatives of the mortgage backed securities as the main causes of the 2008 financial crisis in the United States of America. As such, Goldman Sachs&rsquo; offering of the product posed ethical and moral issues. An analysis

APA, Harvard, Vancouver, ISO, and other styles

37

Petersen, M. A., J. Mukuddem-Petersen, B. De Waal, M. C. Senosi, and S. Thomas. "Profit and Risk under Subprime Mortgage Securitization." Discrete Dynamics in Nature and Society 2011 (2011): 1–64. http://dx.doi.org/10.1155/2011/849342.

Full text

Abstract:

We investigate the securitization of subprime residential mortgage loans into structured products such as subprime residential mortgage-backed securities (RMBSs) and collateralized debt obligations (CDOs). Our deliberations focus on profit and risk in a discrete-time framework as they are related to RMBSs and RMBS CDOs. In this regard, profit is known to be an important indicator of financial health. With regard to risk, we discuss credit (including counterparty and default), market (including interest rate, price, and liquidity), operational (including house appraisal, valuation, and compensa

APA, Harvard, Vancouver, ISO, and other styles

38

LIU, WEN-QIONG, and WEN-LI HUANG. "HEDGING OF SYNTHETIC CDO TRANCHES WITH SPREAD AND DEFAULT RISK BASED ON A COMBINED FORECASTING APPROACH." International Journal of Theoretical and Applied Finance 22, no. 02 (2019): 1850057. http://dx.doi.org/10.1142/s0219024918500577.

Full text

Abstract:

Hedging of credit derivatives, especially the Collateralized Debt Obligations (CDOs), is the prerequisite of risk management in financial market. Since both spread risk and default risk exist, the models in existing literature resort to the incomplete-market theory to derive the hedging strategies. From another point of view, the construction of hedging strategies of CDO might be regarded as the process of forecasting the changes in value of CDO by the changes in value of hedging instruments. Based on this idea, this paper proposes an alternative hedging approach via the combined forecasting a

APA, Harvard, Vancouver, ISO, and other styles

39

Mühlbacher, Andreas, and Thomas Guhr. "Extreme Portfolio Loss Correlations in Credit Risk." Risks 6, no. 3 (2018): 72. http://dx.doi.org/10.3390/risks6030072.

Full text

Abstract:

The stability of the financial system is associated with systemic risk factors such as the concurrent default of numerous small obligors. Hence, it is of utmost importance to study the mutual dependence of losses for different creditors in the case of large, overlapping credit portfolios. We analytically calculate the multivariate joint loss distribution of several credit portfolios on a non-stationary market. To take fluctuating asset correlations into account, we use an random matrix approach which preserves, as a much appreciated side effect, analytical tractability and drastically reduces

APA, Harvard, Vancouver, ISO, and other styles

40

Mpundu, M., M. A. Petersen, J. Mukuddem-Petersen, and F. Gideon. "Basel III and Asset Securitization." Discrete Dynamics in Nature and Society 2013 (2013): 1–19. http://dx.doi.org/10.1155/2013/439305.

Full text

Abstract:

Asset securitization via special purpose entities involves the process of transforming assets into securities that are issued to investors. These investors hold the rights to payments supported by the cash flows from an asset pool held by the said entity. In this paper, we discuss the mechanism by which low- and high-quality entities securitize low- and high-quality assets, respectively, into collateralized debt obligations. During the 2007–2009 financial crisis, asset securitization was seriously inhibited. In response to this, for instance, new Basel III capital and liquidity regulations wer

APA, Harvard, Vancouver, ISO, and other styles

41

Dymski, Gary. "Racial Exclusion and the Political Economy of the Subprime Crisis." Historical Materialism 17, no. 2 (2009): 149–79. http://dx.doi.org/10.1163/156920609x436162.

Full text

Abstract:

AbstractThis paper develops a political economic explanation of the 2007–9 US subprime crisis which focuses on one of its central causes: the transformation of racial exclusion in US mortgage-markets. Until the early 1990s, racial minorities were systematically excluded from mortgage-finance due to bank-redlining and discrimination. But, then, racial exclusion in credit-markets was transformed: racial minorities were increasingly given access to housing-credit under terms far more adverse than were offered to non-minority borrowers. This paper shows that the emergence of the subprime loan is l

APA, Harvard, Vancouver, ISO, and other styles

42

Ortiz, Antonio Carlos, Henrique Monaco, Vitor Machado, and Michael Boehlje. "Propensity for premature filing for judicial financial recovery in large-scale agriculture in Brazil." International Food and Agribusiness Management Review 24, no. 4 (2021): 637–48. http://dx.doi.org/10.22434/ifamr2020.0053.

Full text

Abstract:

In the Brazilian agricultural space, numerous cases of large farmers have declared themselves in severe financial distress and filed for Judicial Financial Recovery (JFR) in the past few years. Our statistical analysis, although preliminary and based on limited available data, indicates that these operations have shown financial indices at levels that, in general, did not significantly differ from a sample of other larger farmers’. Only ‘liquidity’ presented a more persistent relationship with the cases of Judicial Recovery. Therefore, it seems that farmers may be resorting to the JFR route pr

APA, Harvard, Vancouver, ISO, and other styles

43

Pereira, Edgar. "The Ordeals of Colonial Contracting: Reactions to and Repercussions of Two Failed State-Private Ventures in Habsburg Portugal (1622–1628)." Itinerario 43, no. 01 (2019): 63–87. http://dx.doi.org/10.1017/s0165115319000068.

Full text

Abstract:

AbstractAmong the solutions devised by early modern Western European states to engage with the private sector in the governance of their overseas empires, the adjudication of revenue farms and colonial monopolies was often dismissed by historians on the grounds of being coercive, inefficient, and risk-exempt for the contractors. In reality, however, the threat of financial hardship and insolvency was very real, and not infrequently led to contractual removal, the seizure of collateralized assets, and even the imprisonment of the concessionaires.This article approaches the neglected topic of fa

APA, Harvard, Vancouver, ISO, and other styles

44

Benjamin, Joanna. "Determining the Situs of Interests in Immobilised Securities." International and Comparative Law Quarterly 47, no. 4 (1998): 923–34. http://dx.doi.org/10.1017/s0020589300062606.

Full text

Abstract:

In the wholesale financial markets, enormous exposures are collateralised by interests in immobilised securities. Such collateral may be provided under a security interest, or by way of outright transfer.1 The collateral taker is always concerned to ensure that its interest in the collateral assets will be enforceable, not just against the collateral giver but also against third parties such as other creditors of the collateral giver. This is particularly important in the insolvency of the collateral giver, in order to ensure that the collateral taker ranks above ordinary creditors. Rights in

APA, Harvard, Vancouver, ISO, and other styles

45

Rushinek, Avi, and Sara Rushinek. "Uncooking the books from toxic paper sub-prime mortgages CDS and CSOs material misstatements of the financial services industry: crisis challenges and counterparty surveillance of collateralised debt obligations." International Journal of Economics and Accounting 1, no. 1/2 (2010): 138. http://dx.doi.org/10.1504/ijea.2010.033906.

Full text

APA, Harvard, Vancouver, ISO, and other styles

46

Pezzuto, Ivo. "Miraculous financial engineering or toxic finance? The genesis of the U.S. subprime mortgage loans crisis and its consequences on the global financial markets and real economy." Journal of Governance and Regulation 1, no. 3 (2012): 114–25. http://dx.doi.org/10.22495/jgr_v1_i3_c1_p5.

Full text

Abstract:

In the fall of 2008, the U.S. subprime mortgage loans defaults have turned into Wall Street’s biggest crisis since the Great Depression. As hundreds of billions in mortgage-related investments went bad, banks became suspicious of one another’s potential undisclosed credit losses and preferred to reduce their exposure in the interbank markets, thus causing interbank interest rates and credit default swaps increases, a liquidity shortage problem and a worsened credit crunch condition to consumers and businesses. Massive cash injections into money markets and interest rates reductions have been a

APA, Harvard, Vancouver, ISO, and other styles

47

Sherif, Mohamed, and Cennet Tuba Erkol. "Sukuk and conventional bonds: shareholder wealth perspective." Journal of Islamic Accounting and Business Research 8, no. 4 (2017): 347–74. http://dx.doi.org/10.1108/jiabr-09-2016-0105.

Full text

Abstract:

Purpose This study aims to comprehensively examine the stock market effects of announcements by firms to issue conventional bonds versus Sukuk. In addition, the authors investigate whether the choice of instrument depends on the tax status and government backing of the issuing firm. They split the sample into whole (2000-2015), pre-crisis (2000-2007) and post-crisis (2010-2015) subsamples. Design/methodology/approach The authors use event study methodology, market model and FTSE Bursa Malaysia EMAS index on 14 different event windows of which five are symmetric and nine are asymmetric. Further

APA, Harvard, Vancouver, ISO, and other styles

48

"Collateralized Transactions." Policy Papers 20, no. 010 (2020). http://dx.doi.org/10.5089/9781513530703.007.

Full text

Abstract:

In a response to a request from the G20 IFA Working Group, this note provides a framework for public lenders and borrowers to assess collateralized financing practices from a development perspective. The work of the IMF and World Bank suggests that the availability of collateralized financing can be beneficial to a developing country borrower under a range of circumstances, but also points to pitfalls.

APA, Harvard, Vancouver, ISO, and other styles

49

Beaverstock, Jonathan, Adam Leaver, and Daniel Tischer. "How financial products organize spatial networks: Analyzing collateralized debt obligations and collateralized loan obligations as “networked products”." Environment and Planning A: Economy and Space, August 2, 2021, 0308518X2110296. http://dx.doi.org/10.1177/0308518x211029654.

Full text

Abstract:

During the 2010s, collateralized loan obligations rapidly became a trillion-dollar industry, mirroring the growth profile and peak value of its cousin—collateralized debt obligations—in the 2000s. Yet, despite similarities in product form and growth trajectory, surprisingly little is known about how these markets evolved spatially and relationally. This paper fills that knowledge gap by asking two questions: how did each network adapt to achieve scale at speed across different jurisdictions; and to what extent does the spatial and relational organization of today's collateralized loan obligati

APA, Harvard, Vancouver, ISO, and other styles

50

Ghamami, Samim, Paul Glasserman, and H. Peyton Young. "Collateralized Networks." Management Science, March 17, 2021. http://dx.doi.org/10.1287/mnsc.2020.3938.

Full text

Abstract:

This paper studies the spread of losses and defaults in financial networks with two interrelated features: collateral requirements and alternative contract termination rules. When collateral is committed to a firm’s counterparties, a solvent firm may default if it lacks sufficient liquid assets to meet its payment obligations. Collateral requirements can, thus, increase defaults and payment shortfalls. Moreover, one firm may benefit from the failure of another if the failure frees collateral committed by the surviving firm, giving it additional resources to make other payments. Contract termin

APA, Harvard, Vancouver, ISO, and other styles

We offer discounts on all premium plans for authors whose works are included in thematic literature selections. Contact us to get a unique promo code!