Global ETD Search
Search theses and dissertations gathered from participating repositories worldwide. Every result links back to the library that holds it. No account is needed.
Results
Showing 1 to 16 of 16 for “"Risk shifting"”.
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Does accounting quality mitigate risk shifting?
… the effect of financial reporting quality on risk shifting, an investment distortion that is caused by shareholders' incentives to engage in high-risk projects that are detrimental to debt holders. I use asymmetric timeliness to proxy for a dimension of accounting quality that is particularly …
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Empirical identification of the risk shifting aspect of labor market implicit contracts
… and workers differ in their attitudes towards risk. The optimal wage and employment contract calls for shifting some of the risk associated with a randomly fluctuating marginal product of labor from the more risk averse party to the less risk averse party. The purpose of this dissertation is to …
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Essays in corporate finance and investments
… sheets, and considers both the level and the risk attributions of investments and financing sources. The first chapter links financing frictions on the liability side to investment risk on the asset side. It studies the effect of financial constraints on equity holders' risk-shifting …
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Essays on Bank Acquisitions and Systemic Risk
… two chapters on bank acquisitions and systemic risk.</p> <p><strong>Chapter 1:</strong> This chapter explores whether bank acquisitions are associated with systemic risk-shifting. Acquisitions can form larger and more diversified firms and, as such, increase the correlation of the acquirer's …
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Risk apportioning in engineering and building contracts in Australia
… investigation of current practice in respect of risk apportioning in engineering and building construction contracts in Australia. The thesis details a study conducted on 50 industry contracts that, through an examination of risk provisions, determined that a high level of risk shifting was being …
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Three Essays On Private Market Interactions
… disclosures, we test theories relating how risk shifting, managerial discretion, underinvestment, asset liability matching, regulation, home bias, and reaching for yield affect PE investment. Results indicate risk¬ shifting and managerial discretion by stock insurers does not factor into the …
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Essays on regulatory control of deposit insurance and dual trading
… value tend to understate the costs of a bank's risk-shifting, and tend to overstate the true obligation of the FDIC for an insolvent bank. In the case of stochastic charter value, the correlation between a bank's tangible assets and its charter value is an important factor in determining its …
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The Role of Portfolio Disclosures in the Mutual Fund Industry
… quantity of information on fund strategies and risk profiles, I find a reduction in performance manipulation and managerial rent extraction, evidenced by decrease in risk shifting and management fees. The results are pronounced among funds that offer institutional share classes, suggesting that …
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The evaluation of the impact of risk disclosure and bank-level stability: an empirical study of European and US banks
This thesis examines risk disclosure and bank-level stability of US and European banks. More specifically, four main topics have been empirically examined: the impact of risk disclosure following the implementation of Basel II pillar III on bank-level stability; the response of banks’ level of risk …
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Essays on risk assumption and liquidity management
… one on CDS and the firm’s behaviour towards risk assumption and the other one corporate liquidity management in emerging markets. The abstracts for each chapter are as follows. Chapter 1: Credit Default Swaps and Risk-Shifting: Good News for Constrained Firms We hypothesize that CDS …
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Essays on institutional investors, central banks and asset pricing
… Reserve Bank on the equilibrium equity premium, risk free rate and asset volatility and to analyze the effect of these institutions on risk shifting, portfolio allocation and financial stability. Specific features of institutional investors and central banks as well as their role in financial …
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Fair Value Pension Accounting, Corporate Risk and Investment
… extant bterature on market efficiency and firm risk by analysing whether measures of systematic risk, financial risk and operational risk reflect the underlying risk of the pension scheme. Finally, the thesis contributes to the literature on internal capital markets and investment decisions …
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Financial innovations and macroeconomic stability: an assessment of contingent convertible bonds
… in the event of an activation? How does this risk shifting translate for the whole economy versus a system without coco bonds? Could the costs of such bail-ins outweigh their benefits in some situations? Will CoCos play a stabilizing or destabilizing role in the event of another financial …
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Essays on Sovereign Risk and Banking
This thesis consists of three essays on sovereign risk and banking. In the first essay, we examine the determinants of sovereign risk in the Eurozone focusing on the recent crisis episode and search for a self-fulfilling contagion link by using an exogenous ECB policy announcement for …
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Housing and credit markets
… the interest rate is fixed. This unintended risk-shifting pattern to quasi- adjustable-rate mortgages (ARM) may increase income risk. The reform of the mortgage interest deduction, which boosts amortization, is also associated with a significant decline in principal amounts at origination. …