Abstract Arguing from the traditional point of view with regard to concept securitization, this work analyses effects securitization has on international environmental policy example four case studies—the Rio Conference, climate change regime, ozone depletion regime as well fragmented forest regime. Contrasting variables complexity and national interest, its twofold become evident. While succee...

A crisis is building over the prices of new transformative therapies for cancer, hepatitis C virus infection, and rare diseases. The clinical imperative is to offer these therapies as broadly and rapidly as possible. We propose a practical way to increase drug affordability through health care loans (HCLs)-the equivalent of mortgages for large health care expenses. HCLs allow patients in both m...

Operational inefficiencies as well as disparate standards and administrative processes plague the U.S. healthcare industry despite its size and significance. In response, a novel breed of electronic healthcare intermediaries has evolved aiding providers, patients, and other market participants in negotiating more consistent and efficient operations. Intermediation theory posits that intermediar...

EU’s Energy security and trade depend, to a large extent, on sea-based transport relying on open sea lines of communication and Maritime Security. The Gulf of Guinea (GoG) region has supplied 13 per cent of oil and six per cent of total EU28 consumption. Between 2003 and January 2015, piracy in the GoG accounted for 31 per cent of attacks (616 of 1,965) in African waters. With that proportion o...

a r t i c l e i n f o Keywords: Loan loss provisions Gains Securitization and loan sales SFAS No. 140 Earnings benchmarks This study investigates earnings management through managing specific accruals vs. structuring transactions in the banking industry. This paper explores the circumstances under which banks manipulate loan loss provisions vs. circumstances that lead banks to structure loan sa...

Securitization of mortgage loans involves multiple financial intermediaries. Among them, loan originators, deal sponsors, and security underwriters are the key economic players. Using data on non-agency mortgage-backed securities, we find that i) deals in which underwriters and sponsors are affiliated (vertically integrated) have higher delinquency rates than those in which they are unaffiliate...

The paper examines a delegated monitoring problem between investors and a bank holding a portfolio of correlated balloon loans displaying “contagion.” Moral hazard prevents the bank from monitoring continuously unless it is compensated with the right incentive-compatible contract. Under the MonotoneLikelihood-Ratio Property (MLRP), the asset pool is liquidated when losses exceed a cut-off rule....