منابع مشابه
Sovereign Securitization in Emerging Markets
Over many years, securitization has proven to be an expedient and highly flexible refinancing tool for corporates and public sector entities that seek a more accurate capital-market based valuation of asset performance. After successful securitization by public sector entities in advanced countries, also sovereigns in emerging economies are becoming adept at securitization as an efficient means...
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Whole business securitization, a transaction structure developed in England, has been used in Malaysia and is being considered for use in Hong Kong and Singapore. How does the structure add value? The answer is not obvious. Whole business securitization is, as the name implies, securitization of the whole business. Why are the structuring expenditures over and above those that would be incurred...
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We study the impact of financial innovations on real investment decisions within the framework of an incomplete market economy comprised of firms, investors, and an intermediary. The firms face unique investment opportunities that arise in their business operations and can be undertaken at given reservation prices. The cash flows thus generated are not spanned by the securities traded in the fi...
متن کاملSecuritization Networks and Endogenous Financial Norms in U.S. Mortgage Markets∗†
We develop a theoretical model of a network of intermediaries, which we apply to the U.S. mortgage market. In our model, heterogeneous financial norms and systemic vulnerabilities arise endogenously. Intuitively, the optimal behavior of each intermediary, in terms of its attitude toward risk, the quality of the projects that it undertakes, and the intermediaries it chooses to interact with, is ...
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A growing economy has an un-satiable demand for funds. If the existing assets of a firm can be used as a source of funds it would be a boon for such firm. Additionally, if these assets can be converted into negotiable instruments it would further enhance the attractiveness of the product. Finally, if the funds so received are repaid not from earnings of the firm but from the cash flows of pool ...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2015
ISSN: 1556-5068
DOI: 10.2139/ssrn.2670959