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Three important financial stability issues in banking

Defense Thèse de doctorat : Univ. Genève, 2016 - GSEM 27 - 2016/06/02
Abstract In his presidential address, Zingales (2015) observes that large parts of society perceive finance as a rent-seeking activity and that complex financial regulation is prone to arbitrage and capture. In my dissertation, I investigate whether there is some truth in these allegations. In Chapter 1, I estimate the extent of regulatory arbitrage by banks in the securitization market. In Chapters 2 and 3, I show how incentive structures in credit rating agencies and banks can explain credit rating bias and excessive risk-taking, respectively. My findings have important implications for the design of financial regulation.
URN: urn:nbn:ch:unige-856255
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EFING, Matthias. Three important financial stability issues in banking. Université de Genève. Thèse, 2016. https://archive-ouverte.unige.ch/unige:85625

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Deposited on : 2016-08-03

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