Why are Securitization Issues Tranched?
Securitizations usually involve creating multiple tranches of a single issue with different characteristics which are sold as separate securities. This paper provides the first systematic testing of theoretical explanations of the extent and nature of tranching using a proprietary and comprehensive...
| Main Authors: | , |
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| Format: | Working paper |
| Language: | English |
| Published: |
Oxford Finance
2006
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