Titulización hipotecaria en Españaunha análise do risco para as entidades orixinadoras

  1. Iglesias Casal, Ana
  2. López Penabad, Celia
  3. López Andión, María del Carmen
  4. Maside Sanfiz, José Manuel
Zeitschrift:
Revista galega de economía: Publicación Interdisciplinar da Facultade de Ciencias Económicas e Empresariais

ISSN: 1132-2799

Datum der Publikation: 2012

Ausgabe: 21

Nummer: 2

Seiten: 321-334

Art: Artikel

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Andere Publikationen in: Revista galega de economía: Publicación Interdisciplinar da Facultade de Ciencias Económicas e Empresariais

Zusammenfassung

This paper examines the systemic risk reaction of banks’ stocks negotiated in the Spanish stock market to Mortgage Backed Securities. We use an event study methodology for securitization registration and issue dates from 1993 to 2010. The paper provides empirical evidence that securitization has a positive impact on the increase of Spanish bank’s systematic risk on the days following the registration and issue dates

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