TY - JOUR
T1 - Credit derivatives e catena del valore del rischio di credito: le determinanti delle scelte di de-integrazione.
AU - Scannella, Enzo
PY - 2013
Y1 - 2013
N2 - 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.
AB - 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.
UR - http://hdl.handle.net/10447/96656
UR - http://contentegea.egeaonline.it/Articoli/credits-derivatives-e-catena-del-valore-del-rischio-di-credito.aspx
M3 - Article
VL - 3
SP - 108
EP - 146
JO - FINANZA MARKETING E PRODUZIONE
JF - FINANZA MARKETING E PRODUZIONE
SN - 1593-2230
ER -