The Agency of CoCos: Why Contingent Convertible Bonds Aren't for Everyone
Download full text from publisher
Other versions of this item:
- Goncharenko, Roman & Ongena, Steven & Rauf, Asad, 2018. "The Agency of CoCos: Why Contingent Convertible Bonds Aren't for Everyone," CEPR Discussion Papers 13344, C.E.P.R. Discussion Papers.
References listed on IDEAS
- Avdjiev, Stefan & Bogdanova, Bilyana & Bolton, Patrick & Jiang, Wei & Kartasheva, Anastasia, 2017.
"CoCo Issuance and Bank Fragility,"
CEPR Discussion Papers
12418, C.E.P.R. Discussion Papers.
- Stefan Avdjiev & Bilyana Bogdanova & Patrick Bolton & Wei Jiang & Anastasia Kartasheva, 2017. "CoCo Issuance and Bank Fragility," NBER Working Papers 23999, National Bureau of Economic Research, Inc.
- Stefan Avdjiev & Bilyana Bogdanova & Patrick Bolton & Wei Jiang & Anastasia Kartasheva, 2017. "CoCo issuance and bank fragility," BIS Working Papers 678, Bank for International Settlements.
- Erik P. Gilje, 2016. "Do Firms Engage in Risk-Shifting? Empirical Evidence," Review of Financial Studies, Society for Financial Studies, vol. 29(11), pages 2925-2954.
- Koziol, Christian & Lawrenz, Jochen, 2012. "Contingent convertibles. Solving or seeding the next banking crisis?," Journal of Banking & Finance, Elsevier, vol. 36(1), pages 90-104.
- Berg, Tobias & Kaserer, Christoph, 2015.
"Does contingent capital induce excessive risk-taking?,"
Journal of Financial Intermediation,
Elsevier, vol. 24(3), pages 356-385.
- Berg, Tobias & Kaserer, Christoph, 2015. "Does contingent capital induce excessive risk-taking?," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 488, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
- repec:oup:rfinst:v:30:y:2017:i:11:p:3921-3969. is not listed on IDEAS
- Stephanie Chan & Sweder van Wijnbergen, 2016. "Coco Design, Risk Shifting Incentives and Capital Regulation," Tinbergen Institute Discussion Papers 16-007/VI, Tinbergen Institute, revised 13 Nov 2017.
- Loutskina, Elena, 2011. "The role of securitization in bank liquidity and funding management," Journal of Financial Economics, Elsevier, vol. 100(3), pages 663-684, June.
- Stefan Avdjiev & Anastasia Kartasheva & Bilyana Bogdanova, 2013. "CoCos: a primer," BIS Quarterly Review, Bank for International Settlements, September.
- McDonald, Robert L., 2013. "Contingent capital with a dual price trigger," Journal of Financial Stability, Elsevier, vol. 9(2), pages 230-241.
- Merton, Robert C, 1974.
"On the Pricing of Corporate Debt: The Risk Structure of Interest Rates,"
Journal of Finance,
American Finance Association, vol. 29(2), pages 449-470, May.
- Merton, Robert C., 1973. "On the pricing of corporate debt: the risk structure of interest rates," Working papers 684-73., Massachusetts Institute of Technology (MIT), Sloan School of Management.
- Reint Gropp & Florian Heider, 2010. "The Determinants of Bank Capital Structure," Review of Finance, European Finance Association, vol. 14(4), pages 587-622.
- Beatty, Anne & Liao, Scott, 2011. "Do delays in expected loss recognition affect banks' willingness to lend?," Journal of Accounting and Economics, Elsevier, vol. 52(1), pages 1-20, June.
- Pennacchi, George & Vermaelen, Theo & Wolff, Christian C. P., 2014.
"Contingent Capital: The Case of COERCs,"
Journal of Financial and Quantitative Analysis,
Cambridge University Press, vol. 49(3), pages 541-574, June.
- Pennacchi, George G. & Vermaelen, Theo & Wolff, Christian C, 2010. "Contingent Capital: The Case for COERCs," CEPR Discussion Papers 8028, C.E.P.R. Discussion Papers.
- Christian Wolff & Theo Vermaelen & George Pennacchi, 2010. "Contingent Capital: The Case for COERCs," LSF Research Working Paper Series 10-08, Luxembourg School of Finance, University of Luxembourg.
- Dwight Jaffee & Alexei Tchistyi & Boris Albul, 2013. "Contingent Convertible Bonds and Capital Structure Decisions," 2013 Meeting Papers 682, Society for Economic Dynamics.
- Chan, Stephanie & Wijnbergen, Sweder, 2017. "CoCo Design, Risk Shifting Incentives and Financial Fragility," ECMI Papers 12166, Centre for European Policy Studies.
- Ahmed, Anwer S. & Takeda, Carolyn & Thomas, Shawn, 1999. "Bank loan loss provisions: a reexamination of capital management, earnings management and signaling effects," Journal of Accounting and Economics, Elsevier, vol. 28(1), pages 1-25, November.
- Hilscher, Jens & Raviv, Alon, 2014.
"Bank stability and market discipline: The effect of contingent capital on risk taking and default probability,"
Journal of Corporate Finance,
Elsevier, vol. 29(C), pages 542-560.
- Jens Hilscher & Alon Raviv, 2012. "Bank stability and market discipline: The effect of contingent capital on risk taking and default probability," Working Papers 53, Brandeis University, Department of Economics and International Businesss School, revised Jan 2014.
- Anat R. Admati & Peter M. DeMarzo & Martin F. Hellwig & Paul Pfleiderer, 2013. "Fallacies, Irrelevant Facts, and Myths in the Discussion of Capital Regulation: Why Bank Equity is Not Socially Expensive," Discussion Paper Series of the Max Planck Institute for Research on Collective Goods 2013_23, Max Planck Institute for Research on Collective Goods.
More about this item
KeywordsCoCos; Contingent Convertible Bonds; Bank Capital Structure; Debt Overhang; Basel III;
- G01 - Financial Economics - - General - - - Financial Crises
- G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
- G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
NEP fieldsThis paper has been announced in the following NEP Reports:
- NEP-BAN-2019-09-23 (Banking)
- NEP-CBA-2019-09-23 (Central Banking)
- NEP-FMK-2019-09-23 (Financial Markets)
StatisticsAccess and download statistics
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:chf:rpseri:rp1943. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ridima Mittal). General contact details of provider: http://edirc.repec.org/data/fameech.html .
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.