Viable Design of a Security with a Pre-existing Market

Kazuhiko Ōhashi

Chapter 10 in Banking, Capital Markets and Corporate Governance, 2001, pp 253-271 from Palgrave Macmillan

Abstract: Abstract Emergence of many new securities has been changing the world’s financial markets for the last three decades of the twentieth century. Now, innovation of new securities is one of the main services that the financial institutions provide. Issuance of hybrid securities and securitisation of assets such as MBS (Mortgage Backed Securities), ABS (Asset Backed Securities) and CMO (Collateralised Mortgage Obligation) are examples of this innovation.

Keywords: Private Information; Asymmetric Information; Adverse Selection; Informed Investor; Mortgage Backed Security (search for similar items in EconPapers)
Date: 2001
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-28814-0_10

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DOI: 10.1057/9780230288140_10

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