Analyzing 75 securitizing and non-securitizing stock-listed banks in the EU-13 plus
Switzerland over the period from 1997 to 2010, this paper provides empirical evidence that …

This paper investigates the different effects of competition and securitization on US bank
efficiency between 2001 and 2019. Using Propensity Score Matching (PSM) and a two-step …

This article documents novel large-sample evidence on the informational role of interfirm
ownership networks in bank lending. Using comprehensive loan-level data in China, we find …

A privately informed seller seeks to liquidate a portfolio to raise cash. Each asset's liquidity
thus depends on the impact of its sale on the value of the entire portfolio. We demonstrate …

We consider the role of trustees–who are nominated to protect the interests of investors–in
securitization pricing and whether investors rely on them to mitigate risks. In particular, we …

Using billions of observations on the locations of bank branches and corporate borrowers in
China, we measure lender-borrower distance by the geographic information system and find …

We consider a privately informed issuer which holds a portfolio of assets that can be sold to
raise cash, where the fractions of assets sold serve as a multidimensional signal. If good …

A mortgage that defaults is more likely to enter foreclosure rather than renegotiation if it has
been securitized in the private non-agency market, according to previous research. We …

Small business lending has historically been very local, but distances between small
businesses and their lenders have steadily increased over the last forty years. This paper …

I develop a highly tractable dynamic general equilibrium model with collateralized lending
and securitization in which asset-backed securities (ABS) function as a mechanism for risk …