Details about Marc Arnold

Access statistics for papers by Marc Arnold.

Last updated 2015-09-27. Update your information in the RePEc Author Service.

Short-id: par351

Working Papers

2016

1. Neglected Risk: Evidence from Structured Product Counterparty Exposure
   Working Papers on Finance, University of St. Gallen, School of Finance View citations (1)
2. The Value of Creditor Governance: Debt Renegotiations In and Outside Distress
   Working Papers on Finance, University of St. Gallen, School of Finance View citations (4)

2014

3. Banks’ Loan Screening Incentives with Credit Risk Transfer: An Alternative to Risk Retention
   Working Papers on Finance, University of St. Gallen, School of Finance
4. This article analyzes the impact of the introduction of centrally cleared credit risk transfer on a loan originating bank's lending discipline in the primary loan market. Under Basel III, a bank can transfer credit risk via central clearing at favorable regulatory conditions. Central clearing, however, reduces the lending discipline because the fact that only standardized contracts can be centrally cleared allows the originating bank to profitably grant and hedge a low quality loan. The impact on the lending discipline crucially depends on the regulatory design of central clearing such as capital requirements, disclosure standards, risk retention, and access to uncleared credit risk transfer. I also show that the lending discipline is an important determinant of the impact of central clearing on system risk
   Working Papers on Finance, University of St. Gallen, School of Finance

2013

5. Financing Asset Sales and Business Cycles
   Working Papers on Finance, University of St. Gallen, School of Finance View citations (6)

2010

6. Macroeconomic Conditions, Growth Opportunities and the Cross-Section of Credit Risk
   Swiss Finance Institute Research Paper Series, Swiss Finance Institute

Journal Articles

2014

1. Managerial cash use, default, and corporate financial policies
   Journal of Corporate Finance, 2014, 27, (C), 305-325 View citations (20)

2013

2. Growth options, macroeconomic conditions, and the cross section of credit risk
   Journal of Financial Economics, 2013, 107, (2), 350-385 View citations (28)