主题：Default Option
Exercise over the Financial Crisis and Beyond（金融危机期间及之后的违约期权履约）
主讲人：邓永恒，新加坡国立大学教务长讲席教授
日期：2017年9月27日（周三）
时间：上午10:00-11:30
地点：德州扑克大小
金融德州扑克大小
4号楼101教室
语言：英文
摘要：
We
document increased ruthlessness of mortgage default option exercise over the
financial crisis. Findings show that the marked upturn in default option
exercise was even more important to crisis period defaults than was the collapse
in home equity. Analysis further indicates that much of the variation in
default ruthlessness can be explained by the local business cycle, house price
expectations, and consumer distress. Also, results suggest elevated default
option exercise in the wake of enactment of crisis-period loan modification
programs.
主讲人简介:
Professor
Deng is Provost's Chair Professor of Real Estate and Finance at the National
University of Singapore. He is also the Head of Real Estate at the Department
of Real Estate, School of Design and Environment, and Professor in the
Department of Finance at NUS Business School. He has served as the Director of
the Institute of Real Estate Studies at NUS (2009-2017), the Director of the
Lifecycle Financing Research Program at NUS Global Asia Institute (2012- ), and
on the board of the management of the Asia Research Institute (2014-2016) at
NUS.
Prior
to joining NUS, he was a Professor at the University of Southern California
(USC), School of Policy, Planning and Development, and the Marshall School of
Business. He has also served as Economist and Expert in the Office of Federal
Housing Enterprise Oversight (OFHEO) – a financial regulator overseeing Fannie
Mae and Freddie Mac – in Washington DC. Professor Deng holds a Ph.D. in Economics
from the University of California at Berkeley.
