Essay 1:Capital Market Imperfections and the Incentives of Asset-Backed SecuritizationBarclay, M. J. and C. W. Smith, Jr., 1995, “The Maturity Structure of Corporate Debt,” Journal of Finance 50, 609-631.
Berger, A. and G. Udell, 1993, “Securitization, Risk and the Liquidity Problem in Banking,” in M. Klausner and L. White, Ed., Structural Change in Banking, Irwin, Homewood, IL, 227-291.
Berkovitch E. and E. H. Kim, 1990, “Financial Contracting and Leverage Over- and Under-Investment Incentives,” The Journal of Finance 45, 765-794.
Benston, G. J., 1992, “The Future of Asset Securitization: the Benefits and Costs of Breaking up the Bank,” Journal of Applied Corporate Finance 5, 71-82.
Benveniste, L. M., and A. N. Berger, 1987, “Securitization with Recourse: An Instrument That Offers Uninsured Bank Depositors Sequential Claims,” Journal of Banking and Finance 11, 403-424.
Bhagat, S., M. Marr, and R. Thomposon, 1985, “The Rule 415 Experiment: Equity Market,” Journal of Finance 40, 1385-1401.
Blackwell, D., M. Marr, and M. Spivey, 1990, “Shelf Registration and the Reduced Due Diligence Argument; Implications of the Underwriter Certification and the Implicit Insurance Hypotheses,” Journal of Financial and Quantitative Analysis 25, 245-259.
Blum, L. and C. DiAngelo, 1998, “Structuring Efficient Asset Backed Transactions,” in F. J. Fabozzi, Ed., Issuer Perspectives on Securitization, Pennsylvania, Frank J. Fabozzi Associates, 17-44.
Boot, W. A. Arnoud and A. V. Thakor, 1993, “Security Design,” The Journal of Finance 48, 1349-1378.
Bryan, L. J., 1988, “Structured Securitized Credit: a Superior Technology for Lending,” Journal of Applied Corporate Finance 1, 6-19.Brendan O., R. Janek and S. Kosmas, 2000, “Critical Factors in Securitization of Financial Assets: Evidence from Australia,” Financial Practice and Education, 34-46.
Chamberlain, G.., 1980, “Analysis of Covariance with Qualitative Data,” Review of Economic Studies 47, 225-238.
Dierkens, N., 1991, “Information Asymmetry and Equity Issues,” Journal of Financial and Quantitative Analysis 26, 181-199.
Dionne, G. and T. M. Harchaoui, 2003, “Banks’ Capital, Securitization and Credit Risk: an Empirical Evidence for Canada,” Cahier de recherché. Working Paper 03-11.
Donahoo, K. K. and S. Shaffer, 1991, “Capital Requirements and the Securitization Decision,” Quarterly Review of Economics and Business 31, 13-23.
Fama, E. F. and K. R French, 2001, “Disappearing Dividends: Changing Firm Characteristics or Lower Propensity to Pay,” Journal of Financial Economics 60, 3-43.
Geczy, C., B. A. Minton and C. Schrand, 1997, “Why Firms Use Currency Derivatives,” The Journal of Finance 52, 1323-1354.
Greenbaum, S. I. and J. V. Thakor, 1987, “Banking Funding Modes: Securitization versus Deposits,” Journal of Banking and Finance 11, 379-401.
Haley, W. J., 1990, “Securitization Techniques for Non-Mortgage Assets, in R. L. Kuhn, Ed., Mortgage and Asset Securitization, Irwin, Homewood, IL., 216-241.
Hill, C. A., 1997, “Securitization: a Low Cost Sweetener for Lemons,” Journal of Applied Corporate Finance10, 64-71.
Houston, J. and C. James, 2001, “Do Relationships Have Limits? Banking Relationships, Financial Constraints, and Investment,” Journal of Finance 51, 1863-1889.
Hovakimian, G. and S. Titman, 2003, “Corporate Investment with Financial Constraints: Sensitivity of Investment to Funds from Voluntary Asset Sales,” NBER Working Paper No. W9432, 1-30.
Iacobucci, E. M. and R. A. Winter, 2005, “Asset Securitization and Asymmetric Information,” The Journal of Legal Studies 34, 161-206.
James, C., 1988, “The Use of Loan Sales and Standby Letters of Credit by Commercial Banks,” Journal of Monetary Economics 22, 395-422.
Jensen, M. C., 1986, “Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers,” The American Economic Review 76, 323-329.
Jensen, M. and W. Meckling, 1976, “The Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure,” Journal of Financial Economics 3, 305-360.
Johnson, S. A., 2001, ‘To securitize or not?” in F. J. Fabozzi, Ed., Accessing Capital Markets through Securitization, Pennsylvania, Frank J. Fabozzi Associates, 163-72.
Kendall, L. T., 1996, “Securitization: a New Era in American Finance,” in L. T. Kendall and M. J. Fishman, Ed., A Primer on Securitization, Massachusetts: MIT Press, 1-16.
Lang, L. H. P., R. M. Stulz and R. A. Walking, 1991, “A Test of the Free Cash Flow Hypothesis: the Case of Bidder Returns,” Journal of Financial Economics 29, 315-335.
Lehn, K. and A. Poulsen, 1989, “Free Cash Flow and Stockholder Gains in Going Private Transactions,” Journal of Finance 44, 771-788.
Lehn, K., J. Netter and A. Poulsen, 1990, “Choice of Organizational Form: the Case of Leveraged Recapitalizations and Leverage Buyouts,” Journal of Financial Economics 27, 315-354.
Lockwood, L. J., R. C. Rutherford, and M. J. Herrera, 1996, “Wealth Effects of Asset Securitization,” Journal of Banking and Finance 20, 151-164.
MacKinlay, C. A., 1997, “Event Studies in Economics and Finance,” Journal of Economic Literature l, 13-39.
Martel J. and M. Mokrane, 2002, “Bank Financing Strategies, Diversification and Securitization,” working Paper, 1-30.
Miller, M. H., 1986, “Financial Innovation: the Last Twenty Years and the Next,” Journal of Financial and Quantitative Analysis 21, 459-471.
Minton, B., T. Opler and S. Stanton, 1997, “Asset Securitization among Industrial Firms,” working paper, 1-18.
Modigliani, F. and M. H. Miller, 1958, “The Cost of Capital, Corporation Finance and the Theory of Investment,” American Economic Review 48, 261–297.
Myers, S. C., 1977, “Determinants of Corporate Borrowing,” Journal of Financial Economics 5, 147-176.
Myers, S. C. and N. S. Majluf, 1984, “Corporate Financing and Investment Decisions When Firms Have Information That Investors Do Not Have,” Journal of Financial Economics 13, 187-221.
Okabe R. M., 1998, “The Impact of Asset Securitization: a Perspective for Investors,” Journal of Applied Corporate Finance 11, 97-108.
Oldfield, G., 1997, “The Economics of Structured Finance,” The Journal of Fixed Income, 92-99.
Opler, T. and S. Titman, 1993, “The Determinants of Leveraged Buyout Activity: Free Cash Flow vs. Financial Distress Costs,” The Journal of Finance 48, 1985-1999.
Ranieri, L. S., 1996, “The Origins of Securitization, Sources of Its Growth, and Its Future Potential,” in L. T. Kendall and M. J. Fishman, Ed., A Primer on Securitization, Massachusetts: MIT Press, 31-43.
Roever, A. W., 1998, “The Joy of Securitization: Understanding Securitization and Its Appeal, in: F. J. Fabozzi, Ed., Issuer Perspectives on Securitization, Pennsylvania: Frank J. Fabozzi Associates, 1-16.
Schwarcz, S. L., 2002, Structured Finance: A Guide to the Principles of Asset Securitization, New York: Practising Law Institute.
Sharpe, S. A. and H. H. Nguyen, 1995, “Capital Market Imperfections and the Incentive to Lease,” Journal of Financial Economics 39, 271-294.
Silver, A. A., 1998, “Rating Structured Securities,” in J. F. Frank, Ed., Issuer Perspectives on Securitization, Pennsylvania: Frank J. Fabozzi Associates, 67-91.
Singer, D., 2001, “Market Innovation in Securitization and Structured Finance,” in F. J. Fabozzi, Ed., Accessing Capital Markets through Securitization, Pennsylvania: Frank J. Fabozzi Associates, 1-11.
Skarabot, J., 2001, “Asset Securitization and Optimal Asset Structure of The Firm,” working paper, 1-51.
Smith, C. and R. Watts, 1992, “The Investment Opportunity Set and Corporate Financing, Dividend, and Compensation Policies,” Journal of Financial Economics 32, 263-292.
Sopranzetti, B. J., 1999, “Selling Accounts Receivable and The Underinvestment Problem,” The Quarterly Review of Economics and Finance 39, 291-301.
Stanton, S., 1998, “The Underinvestment Problem and Patterns in Bank Lending,” Journal of Financial Intermediation 7, 293-326.
Stulz, R. M. and H. Johnson, 1985, “An Analysis of Secured Debt,” Journal of Financial Economics 14, 501-521.
Thomas, H., 1999, “A Preliminary Look at Gains from Asset Securitization,” Journal of International Financial Markets, Institutions and Money 9, 321-333.
Thomas, H., 2001, “Effects of Asset Securitization on Seller Claimants,” Journal of Financial Intermediation 10, 306–330.
Titman, S. and R. Wessels, 1988, “The Determinants of Capital Structures Choice,” Journal of Finance 43, 1-19.
Wooldridge, J. M., 2002, Econometric Analysis of Cross Section and Panel Data, Cambridge, IL.
Zweig, P. L., 1989, The Asset Securitization Handbook, Dow Jones and Company, Homewood, IL.
Essay 2:Asymmetric Information, Debt Agency Problems and the Economic Impact of Asset Securitization
Alles, L. (2001). Asset Securitization in Australia: How and Why It Works, Journal of the Securities Institute of Australia Issue, 1-15.
Andrea, S., and Paul, S. (2000). Securitization as a Liquidity Option for Small Banks in South Africa, The ABAS International Conference, 10-12 July, 1-22.
Barclay, M. J. and Smith, C. W., Jr., (1995a). The Maturity Structure of Corporate Debt, Journal of Finance, 50, 609-631.
Berger, A., and Udell, G. (1993). Securitization, Risk and the Liquidity Problem in Banking, in “Structural Change in Banking” (M. Klausner and L. White, Eds), 227-291. Irwin Publishing, Homewood.
Berkovitch, E., and Kim, Han E. (1990). Financial Contracting and Leverage Over- and Under-Investment Incentives, The Journal of Finance, 45, 3, 765-794.
Benston, G. J. (1992). The Future of Asset Securitization: the Benefits and Costs of Breaking Up the Bank”, Journal of Applied Corporate Finance, 5, 1, 71-82.Benveniste, L. M., and Berger, A. N. (1987). Securitization with Recourse: an Instrument that Offers Uninsured Bank Depositors Sequential Claims, Journal of Banking and Finance, 11, 403-424.
Bhagat, S., Marr, M., and Thomposon, R. (1985). The Rule 415 Experiment: Equity Market, Journal of Finance, 40, 1385-1401.
Blackwell, D., Marr, M., and Spivey, M. (1990). Shelf Registration and the Reduced Due Diligence Argument; Implications of the Underwriter Certification and the Implicit Insurance hypotheses, Journal of Financial and Quantitative Analysis, 25, 245-259.
Blum, L. and DiAngelo, C. (1998). Structuring Efficient Asset Backed Transactions, (In: Fabozzi, F. J. Issuer Perspectives on Securitization. Pennsylvania: Frank J. Fabozzi Associates), 17-44.
Bryan, L. J. (1988). Structured Securitized Credit: a Superior Technology for Lending, Journal of Applied Corporate Finance, 1, 3, 6-19.Cleary, S. (1999). The Relationship Between Firm Investment and Financial Status, The Journal of Finance, 54, 673-692.
Dierkens, N. (1991). Information Asymmetry and Equity Issues, Journal of Financial and Quantitative Analysis, 26, 181-199.
Donahoo, K. K., and Shaffer, S. (1991). Capital Requirements and the Securitization Decision, Quarterly Review of Economics and Business, 31, 4, 13-23.
Fama, E. F., and French, K. R. (2001). Disappearing dividends: Changing firm characteristics or lower propensity to pay, Journal of Financial Economics 60, 3-43.
Guedes, J. and Opler, T. (1996). The Determinants of the Maturity of Corporate Debt Issues, The Journal of Finance, 51, 5, 1809-1833.
Geczy, C., Minton, B. A., and Schrand, C. (1997). Why Firms Use Currency Derivatives, The Journal of Finance, 52, 4, 1323-1354.
Greenbaum, S. I., and Thakor, J. V. (1987). Banking Funding Modes: Securitization versus Deposits, Journal of Banking and Finance, 11, 379-401.
Haley, W. J. (1990), “Securitization Techniques for Non-Mortgage Assets,” (In: Kuhn, Robert Lawrence. Mortgage and Asset Securitization. U.S. A: Richard D. Irwin, Inc.), 216-241.
Hill, C. A. (1997). Securitization: a Low Cost Sweetener for Lemons, Journal of Applied Corporate Finance, 10, 2, 64-71.
Hovakimian, G., and Titman, S. (2003). Corporate Investment with Financial Constraints: Sensitivity of Investment to Funds from Voluntary Asset Sales, NBER Working Paper No. W9432, 1-30.
Iacobucci, E. M., and Winter, R. A. (2005). Asset Securitization and Asymmetric Information, The Journal of Legal Studies, 34, 1,161-206.Jain, B. A., Chander S., and Violet, T. (2003). Determinants of Dividend Initiation by IPO Issuing Firms, Towson University working paper.
James, C. (1988). The Use of Loan Sales and Standby Letters of Credit by Commercial Banks, Journal of Monetary Economics, 22, 395-422.
Jensen, M. C. (1986). Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers,” The American Economic Review, 76, 2, p323-329.
Jensen, M., and Meckling, W. (1976). The theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure, Journal of Financial Economics, 3, p305-360.
Johnson, S. A. (2001). To Securitize or Not? (In: Fabozzi, F. J. Accessing Capital Markets through Securitization. Pennsylvania: Frank J. Fabozzi Associates). 163-72.
Kendall, L. T. (1996). Securitization: a New Era in American Finance (In: Kendall, L. T. and Fishman, M. J. (eds). A Primer on Securitization. Massachusetts: MIT Press). 1-16.
Lang, L., Poulsen, A., and Stulz, R. M. (1995). Asset Sales, Firm Performance, and Agency Costs of Managerial Discretion, Journal of Financial Economics, 3-38.
Lang, L. H. P., Stulz, R. M., and Walking, R. A. (1991). A Test of the Free Cash Flow Hypothesis: The Case of Bidder Returns, Journal of Financial Economics, 29, 315-335.
Lewis, C. (1990). A Multiperiod Theory of Corporate Financial Policy under Taxation, Journal of Financial Quantitative Analysis, 25, 5-34.
Lockwood, L. J., Rutherford, R. C. and Herrera, M. J. (1996). Wealth Effects of Asset Securitization, Journal of Banking and Finance, 20, 151-164.
Minton, B., Opler, T., and Stanton, S. (1997). Asset Securitization among Industrial Firms, working paper, 1-18.
Modigliani, F. and Miller M. H. (1958). The Cost of Capital, Corporation Finance and the Theory of Investment. American Economic Review, 48, 3, 261–297.
Myers, S. C. (1977). Determinants of Corporate borrowing, Journal of Financial Economics, 5, 147-176.
Myers, S. C., and Majluf, N. S. (1984). Corporate Financing and Investment Decisions When Firms Have Information that Investors Do Not Have,” Journal of Financial Economics, 13, p187-221.
Okabe R. M. (1998). The Impact of Asset Securitization: a Perspective for Investors, Journal of Applied Corporate Finance, 11, 1, 97-108.Opler, T., and Titman, S. (1993). The Determinants of Leveraged Buyout Activity: Free Cash Flow vs. Financial Distress Costs, The Journal of Finance, 48, 5, 1985-1999.
Pagano M., Panetta F., and Zingales, L. (1998). Why Do Companies Go Public? An Empirical Analysis, The Journal of Finance, 53,1, 27-64.Pennacchi, G. G. (1988). Loan Sales and the Cost of Bank Capital, The Journal of Finance, 43,2, 375-396.
Ranieri, L. S. (1996). The Origins of Securitization, Sources of Its Growth, and Its Future Potential, (In: Kendall, L. T. and Fishman, M. J. (eds). A Primer on Securitization. Massachusetts: MIT Press), 31-43.
Roever, W. (1998). The Joy of Securitization: Understanding Securitization and its Appeal. (In: Fabozzi, F. J. Issuer Perspectives on Securitization. Pennsylvania: Frank J. Fabozzi Associates). 1-16.
Schwarcz, S. L. 2002. Structured Finance: A Guide to the Principles of Asset Securitization. 3d ed. New York: Practising Law Institute.
Shleifer, A., and Vishny, R. W. (1992). Liquidation Values and Debt Capacity: A Market Equilibrium Approach, Journal of Finance, 47, 4, 1343-1366.
Singer, D. (2001). Market Innovation in Securitization and Structured Finance, (In: Fabozzi, F. J. Accessing Capital Markets through Securitization. Pennsylvania: Frank J. Fabozzi Associates). 1-11.
Sopranzetti, B. J. (1999). Selling Accounts Receivable and the Underinvestment Problem, The Quarterly Review of Economics and Finance, 39, 291-301.
Smith, C., and Watts, R. (1992). The Investment Opportunity Set and Corporate Financing, Dividend, and Compensation policies, Journal of Financial Economics, 32, 263-292.
Stanton, S. (1998). The Underinvestment Problem and Patterns in Bank Lending, Journal of Financial Intermediation, 7, 293-326.
Stulz, R. M. and H. Johnson, (1985). An Analysis of Secured Debt, Journal of Financial Economics, 14, 501-521.
Thomas H. (1999). A Preliminary Look at Gains from Asset Securitization, Journal of International Financial Markets, Institutions and Money, 9, 321-333.
Thomas H. (2001). Effects of Asset Securitization on Seller Claimants, Journal of Financial Intermediation, 10, 306–330.
Titman, S. and Wessels, R. (1988). The Determinants of Capital Structures Choice, Journal of Finance, 43, 1-19.
White, H. (1980). A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity, Econometrica, 48, 817-838.
Essay 3:The Informational Content of Asset Securitization: Information Signaling and Free Cash Flow Hypotheses
Alles, L., 2001. Asset securitization in Australia: how and why it works. Journal of the Securities Institute of Australia Issue, 1-15.
Andrea, S., Paul, S., 2000. Securitization as a liquidity option for small banks in South Africa. The ABAS International Conference, 1-22.
Barclay, M. J., Smith, C. W., Jr., 1995. The maturity structure of corporate debt. Journal of Finance 50, 609-631.
Berger, A., Udell, G., 1993. Securitization, risk and the liquidity problem in banking, in: Klausner, M. and White, L. (Eds), Structural Change in Banking, Irwin Publishing, Homewood, 227-291.
Berkovitch, E., Kim, H. E., 1990. Financial contracting and leverage over- and under-investment incentives. The Journal of Finance 45, 765-794.
Benston, G. J., 1992. The future of asset securitization: the benefits and costs of breaking up the bank. Journal of Applied Corporate Finance 5, 71-82.
Benveniste, L. M., Berger, A. N., 1987. Securitization with recourse: an instrument that offers uninsured bank depositors sequential claims. Journal of Banking and Finance 11, 403-424.
Bhagat, S., Marr, M., Thomposon, R., 1985. The rule 415 experiment: equity market. Journal of Finance 40, 1385-1401.
Blackwell, D., Marr, M., Spivey, M., 1990. Shelf registration and the reduced due diligence argument; implications of the underwriter certification and the implicit insurance hypotheses. Journal of Financial and Quantitative Analysis 25, 245-259.
Blum, L., DiAngelo, C., 1998. Structuring efficient asset backed transactions, in: Fabozzi, F. J., (Eds.), Issuer Perspectives on Securitization, Pennsylvania: Frank J. Fabozzi Associates, 17-44.
Bryan, L. J., 1988. Structured securitized credit: a superior technology for lending. Journal of Applied Corporate Finance 1, 6-19.Cleary, S., 1999. The relationship between firm investment and financial status. The Journal of Finance 54, 673-692.
Dierkens, N., 1991. Information asymmetry and equity issues. Journal of Financial and Quantitative Analysis 26, 181-199.
Donahoo, K. K., Shaffer, S., 1991. Capital requirements and the securitization decision. Quarterly Review of Economics and Business 31, 13-23.
Fama, E. F., French, K. R., 2001. Disappearing dividends: changing firm characteristics or lower propensity to pay. Journal of Financial Economics 60, 3-43.
Guedes, J., Opler, T., 1996. The determinants of the maturity of corporate debt issues. The Journal of Finance 51, 1809-1833.
Geczy, C., Minton, B. A., Schrand, C., 1997. Why firms use currency derivatives. The Journal of Finance 52, 1323-1354.
Greenbaum, S. I., Thakor, J. V., 1987. Banking funding modes: securitization versus deposits. Journal of Banking and Finance 11, 379-401.
Haley, W. J., 1990. Securitization techniques for non-mortgage assets, in: Kuhn, R, L. (Eds.), Mortgage and Asset Securitization, U.S. A: Richard D. Irwin, Inc., 216-241.
Hill, C. A., 1997. Securitization: a low cost sweetener for lemons. Journal of Applied Corporate Finance 10, 64-71.
Hovakimian, G., Titman, S., 2003. Corporate investment with financial constraints: sensitivity of investment to funds from voluntary asset sales. NBER Working Paper No. W9432, 1-30.
Iacobucci, E. M., Winter, R. A., 2005. Asset securitization and asymmetric information. The Journal of Legal Studies 34, 161-206.
Jain, B. A., Chander S., Violet, T., 2003. Determinants of dividend initiation by IPO issuing firms. Towson University working paper.
James, C., 1988. The use of loan sales and standby letters of credit by commercial banks. Journal of Monetary Economics 22, 395-422.
Jensen, M. C., 1986. Agency costs of free cash flow, corporate finance, and takeovers. The American Economic Review 76, 323-329.
Jensen, M., Meckling, W., 1976. The theory of the Firm: managerial behavior, agency costs and ownership structure. Journal of Financial Economics 3, 305-360.
Johnson, S. A., 2001. To securitize or not? in Fabozzi, F. J. (Eds), Accessing Capital Markets through Securitization, Pennsylvania: Frank J. Fabozzi Associates, 163-72.
Kendall, L. T., 1996. Securitization: a new era in American finance, in: Kendall, L. T. and Fishman, M. J. (Eds), A Primer on Securitization, Massachusetts: MIT Press, 1-16.
Lang, L., Poulsen, A., Stulz, R. M., 1995. Asset sales, firm performance, and agency costs of managerial discretion. Journal of Financial Economics, 3-38.
Lang, L. H. P., Stulz, R. M., Walking, R. A., 1991. A test of the free cash flow hypothesis: the case of bidder returns. Journal of Financial Economics 29, 315-335.
Lewis, C., 1990. A multiperiod theory of corporate financial policy under taxation. Journal of Financial Quantitative Analysis 25, 5-34.
Lockwood, L. J., Rutherford, R. C., Herrera, M. J., 1996. Wealth effects of asset securitization. Journal of Banking and Finance 20, 151-164.
Minton, B., Opler, T., Stanton, S., 1997. Asset securitization among industrial firms. Working paper, 1-18.
Myers, S. C., 1977. Determinants of corporate borrowing. Journal of Financial Economics 5, 147-176.
Myers, S. C., Majluf, N. S., 1984. Corporate financing and investment decisions when firms have information that investors do not have. Journal of Financial Economics 13, 187-221.
Okabe, R. M., 1998. The impact of asset securitization: a perspective for investors. Journal of Applied Corporate Finance 11, 1, 97-108.Opler, T., Titman, S., 1993. The determinants of leveraged buyout activity: free cash flow vs. financial distress costs. The Journal of Finance, 48, 5, 1985-1999.
Pagano, M., Panetta F., Zingales, L., 1998. Why do companies go public? An empirical analysis. The Journal of Finance 53, 27-64.
Pennacchi, G. G., 1988. Loan sales and the cost of bank capital. The Journal of Finance 43, 375-396.
Ranieri, L. S., 1996. The origins of securitization, sources of its growth, and its future potential, in: Kendall, L. T. and Fishman, M. J. (Eds), A Primer on Securitization, Massachusetts: MIT Press, 31-43.
Roever, A. W., 1998. The joy of securitization: understanding securitization and its appeal, in: Fabozzi, F. J. (Eds.), Issuer Perspectives on Securitization, Pennsylvania: Frank J. Fabozzi Associates, 1-16.
Schwarcz, S. L., 2002. Structured Finance: A Guide to the Principles of Asset Securitization. New York: Practising Law Institute.
Shleifer, A., Vishny, R. W., 1992. Liquidation values and debt capacity: a market equilibrium approach. Journal of Finance 47, 1343-1366.
Singer, D., 2001. Market innovation in securitization and structured finance, in: Fabozzi, F. J. (Eds.), Accessing Capital Markets through Securitization, Pennsylvania: Frank J. Fabozzi Associates, 1-11.
Sopranzetti, B. J., 1999. Selling accounts receivable and the underinvestment problem. The Quarterly Review of Economics and Finance 39, 291-301.
Smith, C., Watts, R., 1992. The investment opportunity set and corporate financing, dividend, and compensation policies. Journal of Financial Economics 32, 263-292.
Stanton, S., 1998. The underinvestment problem and patterns in bank lending. Journal of Financial Intermediation 7, 293-326.
Stulz, R. M., Johnson, H., 1985. An analysis of secured debt. Journal of Financial Economics 14, 501-521.
Thomas, H., 1999. A preliminary look at gains from asset securitization. Journal of International Financial Markets, Institutions and Money 9, 321-333.
Thomas, H., 2001. Effects of asset securitization on seller claimants. Journal of Financial Intermediation 10, 306–330.
Titman, S., Wessels, R., 1988. The determinants of capital structures choice. Journal of Finance 43, 1-19.
White, H., 1980. A heteroskedasticity-consistent covariance matrix estimator and a direct test for heteroskedasticity. Econometrica 48, 817-838.
Essay 4:Long-Run Performance following Asset-Backed Securitization
Barber, B. M., Lyon, J. D., 1996. Detecting abnormal operating performance: the empirical power and specification of test statistics. Journal of Financial Economics 41, 359-399.
Barber, B. M., Lyon, J. D., 1997. Detecting long-run abnormal stock returns: the empirical power and specification of test statistics. Journal of Financial Economics 43, 341-372.
Benston, G. J., 1992. The future of asset securitization: the benefits and costs of breaking up the bank. Journal of Applied Corporate Finance 5, 71-82.
Benveniste, L. M., Berger, A. N., 1987. Securitization with recourse: an instrument that offers uninsured bank depositors sequential claims. Journal of Banking and Finance 11, 403-424.
Bryan, L. J., 1988. Structured securitized credit: a superior technology for lending. Journal of Applied Corporate Finance 1, 6-19.Donahoo, K. K., Shaffer, S., 1991. Capital requirements and the securitization decision, Quarterly Review of Economics and Business 31, 13-23.
Fama, E. F., 1998. Market efficiency, long-term returns, and behavioral finance. Journal of Financial Economics 49, 283-306.
Fama, E. F., French, K. R., 1993. Common risk factors in the returns on stocks and bonds. Journal of Financial Economics 33, 3-56.
Greenbaum, S. I., Thakor, J. V., 1987. Banking funding modes: securitization versus deposits. Journal of Banking and Finance 11, 379-401.
Hertzel, M., Lemmon, M., Linck, J. S., Rees, L., 2002. Long-run performance following private placements of equity. The Journal of Finance, LVII, 2595-2617.
Hill, C. A., 1997. Securitization: a low cost sweetener for lemons. Journal of Applied Corporate Finance 10, 64-71.
Iacobucci, E. M., Winter, R. A., 2005. Asset securitization and asymmetric information. The Journal of Legal Studies 34, 161-206.
Ikenberry, D., Josef L., Theo V., 1995. Market underreaction to open market share repurchases. Journal of Financial Economics 39, 181-208.
Lee, I., Loughran, T., 1998. Performance following convertible bond issuance. Journal of Corporate Finance 4, 185-207.
Lockwood, L. J., Rutherford, R. C., Herrera, M. J., 1996. Wealth effects of asset securitization. Journal of Banking and Finance 20, 151-164.
Loughran, T., Ritter, J. R., 1995. The new issues puzzle. Journal of Finance 50, 23-51.
Loughran, T., Ritter, J. R., 1997. The operating performance of firms conducting seasoned equity offerings. Journal of Finance 52, 1823-1850.
McLaguhlin, R., Safieddine, A., Vasudevan, G., 1998. The long-run performance of convertible debt issuers. Journal of Financial Research 21, 373-388.
Michaely, R., Thaler, R. H., Womack, K. L., 1995. Price reactions to dividend initiations and omissions: overreaction or drift? Journal of Finance 50, 573-608.
Minton, B., Opler, T., Stanton, S., 1997. Asset securitization among industrial firms. Working paper, 1-18.
Mitchell, M. L., Stafford, E., 2000. Managerial decisions and long-term stock price performance. Journal of Business 73, 287-329.
Ritter, J. R., 1991. The long-run performance of initial public offerings. Journal of Finance 46, 3-27.
Shen Y. P., Chiu L. C., 2005. The informational content of asset securitization: information signaling and free cash flow hypotheses. Working paper, 1-37.
Stanton, S., 1998. The underinvestment problem and patterns in bank lending. Journal of Financial Intermediation 7, 293-326.
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