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Wealth effects of asset securitization
Journal of Banking & Finance, 1996Abstract This paper examines changes in wealth for firms that securitize assets. Findings are industry specific with wealth increase for finance companies, with no wealth change for industrial companies and automobile companies, and with wealth loss for banks.
Larry J. Lockwood +2 more
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Specialist Financings: Asset Securitization
2004Many treasurers find that at some time in their careers they are required to put some form of specialist financing in place. This financing may be a securitization of some of the company’s assets, a sale and leaseback of properties, or the stand-alone financing of a project.
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Securitization of Real Estate Assets
2012One of the most significant financial innovations of the twentieth century was the introduction of securitization. Securitization involves pooling individual, usually illiquid, assets and using the pool as collateral for the issuance of an entirely new set of financial securities.
G. Jason Goddard, Bill Marcum
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Optimal Incentives and Securitization of Defaultable Assets
SSRN Electronic Journal, 2012We study optimal securitization in the presence of an initial moral hazard. A financial intermediary creates and then sells to outside investors defaultable assets, whose default risk is determined by the unobservable costly effort exerted by the intermediary.
Semyon Malamud +2 more
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Securitization of corporate assets and executive compensation
Journal of Corporate Finance, 2011We examine the effect of corporate asset-backed securitization on managerial compensation. We find that CEO compensation increases after securitization of corporate assets, which is consistent with two distinct theoretical views: (1) asset-backed securitization improves the efficiency of performance-based compensation as corporate performance becomes a
Ilham Riachi, Armin Schwienbacher
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Asset price, asset securitization and financial stability [PDF]
, 2011 Prior to the Global Financial Crisis in 2008, securitization has been widely perceived as a way to disperse credit risks, and to enhance financial system’s capacity in dealing with defaults. This paper develops a model of securitization and financial stability in the form of amplification effects. This model has illustrated three different scenarios: A
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Sukuk—Shari’ah-Based Asset Securitization
2018While the development of Sukuk originated from the idea of finding an alternative to interest-bearing bonds, today with the rising Shari’ah concerns about the Sukuk structures, emphasis is being placed by fiqi (Islamic jurisprudence) councils to ensure that Sukuk structuring aligns closely with the principles of the Shari’ah.
Abul Hassan, Sabur Mollah
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Asset Securitization and Optimal Asset Structure of the Firm
SSRN Electronic Journal, 2001The process of asset securitization is a new and innovative financing method used for funding and risk management purposes. Evolved over the last few decades, securitization represents a substantial and established part of US and global capital markets. In addition to its importance as a financial and asset restructuring tool, securitization originated
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Asset Backed Note Securitization Modelling
The model makes the assumption that the future values of these parameters will be unchanged until the final payment date. Subsequently, we perform a deterministic computation consisting of calculating the future cashflows in the waterfall and discounting them. We note that, in reality, future parameter values are uncertain. Furthermore, the model doesopenaire +1 more source