Credit derivatives e catena del valore del rischio di credito: le determinanti delle scelte di de-integrazione.

Risultato della ricerca: Articlepeer review

Abstract

This paper analyses the drivers of the credit risk transfer market in the credit risk value chain. The central line of my research is to explain why the credit derivatives market is a case of credit risk value chain disintegration. I examine the determinants that explain the use of credit derivatives by banks in the lending business. Transaction cost economics represents the starting point of my research. Competitive advantages of banking firms, standardization of information and financial instruments, financial regulation and shareholder value view help us understand the creation of credit risk transfer markets.
Lingua originaleItalian
pagine (da-a)108-146
Numero di pagine39
RivistaFINANZA MARKETING E PRODUZIONE
Volume3
Stato di pubblicazionePublished - 2013

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