EconStor >
Goethe-Universität Frankfurt am Main >
Fachbereich Wirtschaftswissenschaften, Universität Frankfurt a. M. >
Working Paper Series: Finance and Accounting, Universität Frankfurt a. M. >

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10419/23433
  

Full metadata record

DC FieldValueLanguage
dc.contributor.authorBannier, Christina E.en_US
dc.contributor.authorHänsel, Dennis N.en_US
dc.date.accessioned2009-01-29T16:05:39Z-
dc.date.available2009-01-29T16:05:39Z-
dc.date.issued2006en_US
dc.identifier.urihttp://hdl.handle.net/10419/23433-
dc.description.abstractThis paper provides new insights into the nature of loan securitization. We analyze the use of collateralized loan obligation (CLO) transactions by European banks from 1997 to 2004 and try to identify the influence that various firm-specific and macroeconomic factors may have on an institution's securitization decision. We find that not only regulatory capital arbitrage under Basel I has been driving the market. Rather, our results suggest that loan securitization is an appropriate funding tool for banks with high risk and low liquidity. It may also have been used by commercial banks to indirectly access investment-bank activities and the associated gains.en_US
dc.language.isoengen_US
dc.publisheren_US
dc.relation.ispartofseriesWorking paper series / Johann-Wolfgang-Goethe-Universität Frankfurt am Main, Fachbereich Wirtschaftswissenschaften : Finance & Accounting 171en_US
dc.subject.jelG21en_US
dc.subject.ddc330en_US
dc.subject.keywordSecuritizationen_US
dc.subject.keywordcredit risk transferen_US
dc.subject.keywordcollateralized loan obligationsen_US
dc.titleDeterminants of banks' engagement in loan securitizationen_US
dc.typeWorking Paperen_US
dc.identifier.ppn520983262en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:Working Paper Series: Finance and Accounting, Universität Frankfurt a. M.

Files in This Item:
File Description SizeFormat
1262.pdf244.37 kBAdobe PDF
No. of Downloads: Counter Stats
Show simple item record
Download bibliographical data as: BibTeX

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.