Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/23433
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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 ofcollateralized loan obligation (CLO) transactions by European banks from 1997 to 2004 andtry to identify the influence that various firm-specific and macroeconomic factors may haveon an institution's securitization decision. We find that not only regulatory capital arbitrageunder Basel I has been driving the market. Rather, our results suggest that loan securitizationis an appropriate funding tool for banks with high risk and low liquidity. It may also havebeen used by commercial banks to indirectly access investment-bank activities and theassociated gains.en_US
dc.language.isoengen_US
dc.publisheren_US
dc.relation.ispartofseries|aWorking paper series / Johann-Wolfgang-Goethe-Universität Frankfurt am Main, Fachbereich Wirtschaftswissenschaften : Finance & Accounting |x171en_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-

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