Essays on Financial Intermediation, Geography, and Regulation PDF Download
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Author: Seyit Gokmen
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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This note is part of Quality testing.
Author: Seyit Gokmen
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
This note is part of Quality testing.
Author: Lantian Liang
Publisher:
ISBN:
Category : Chief executive officers
Languages : en
Pages :
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This dissertation consists of two essays that study the issues related to financial intermediaries. In the first essay, I examine the effects of institutional common ownership on the use of peer benchmarking for CEO pay. By compensating managers based on their co-owned peers' performance as well as their own performance, blockholders can incentivize managers to avoid head-to-head competition with their co-owned peers while maximizing group performance. I find that CEOs' total compensation is positively sensitive to the stock performance of industry peers that share common blockholders. Furthermore, I document that firms sharing common blockholders tend to have more differentiated products, greater joint market share, and greater geographical overlap in business operations. In the second essay, my coauthors and I examine the impact of the disclosure regulation under Regulation AB, which is the disclosure rule that requires all material risk factors applicable to the transaction or to the nature of the security to be disclosed. Specifically, we look at the responses of financial intermediaries to the regulatory changes on disclosure in the asset-back securities market. We find an immediate jump in the percentage of deals with origination stakes just below the disclosure threshold following the implementation of Regulation AB. We also provide evidence that MBS underwriters deliberately keep lower quality loans below the disclosure threshold in order to evade disclosure.
Author: Joonho Sohn
Publisher:
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Category : Intermediation (Finance)
Languages : en
Pages : 174
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Author: Zijun Liu
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Category :
Languages : en
Pages :
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Author: Erasmus Elsner
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Category :
Languages : en
Pages :
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Author: T T Ram Mohan
Publisher: SAGE Publications Pvt. Limited
ISBN:
Category : Business & Economics
Languages : en
Pages : 272
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The regulation of financial intermediaries continues to pose significant challenges to policymakers the world over. The task is especially difficult in emerging markets, where various factors—including macroeconomic volatility, relative under-capitalization of banks, the absence of market discipline and lax supervision—combine to render the banking system fragile. As was evident in the East Asian crisis of the late nineties, this can increase manifold the adverse effects of economic shocks. Taking stock of several important issues in the regulation of financial intermediaries in emerging markets, this volume: - Outlines the direction in which financial regulation should evolve in those markets; - Addresses themes related to optimal regulation as well as issues specific to regulation in the Indian context; - Identifies key elements in the best practices regulation in emerging markets; and - Proposes an innovative approach for setting limits to NPAs in banks. Overall, the original essays gathered here provide a comprehensive account of various important issues involved in regulating financial intermediaries and makes valuable and practical suggestions on how to improve regulation in emerging markets. An important feature of the volume is that it brings together both, scholars from academia and finance professionals from various multilateral agencies. As a consequence, it provides a fine balance between cross-country empirical evidence and conceptual contributions.
Author: Jing Zeng
Publisher:
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Category :
Languages : en
Pages :
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Author: Paul Schure
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Category : Intermediation (Finance)
Languages : en
Pages : 134
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Author: Minsoo Kim
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Category :
Languages : en
Pages :
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Author: Michael Gábor Köllő
Publisher:
ISBN:
Category :
Languages : en
Pages : 370
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