To pool or not to pool? Security design in OTC markets
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DOI: 10.1016/j.jfineco.2021.09.021
Abstract: Abstract We study security issuers’ decisions on whether to pool assets when facing counterparties endowed with market power, as is common in over-the-counter markets. Our analysis reveals how buyers’ market power may render the pooling… read more here.
Keywords: security design; market power; pool pool; security ... See more keywords