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dc.contributor.authorHeilpern, E.
dc.contributor.authorHaslam, C.
dc.contributor.authorAndersson, T.
dc.date.accessioned2013-02-05T09:30:04Z
dc.date.available2013-02-05T09:30:04Z
dc.date.issued2009
dc.identifier.citationHeilpern , E , Haslam , C & Andersson , T 2009 , ' When it comes to the crunch : What are the drivers of the US banking crisis? ' , Accounting Forum , vol. 33 , no. 2 , pp. 99-113 . https://doi.org/10.1016/j.accfor.2009.03.001
dc.identifier.issn0155-9982
dc.identifier.otherPURE: 80055
dc.identifier.otherPURE UUID: 1aedb902-fbc4-4d06-94a4-959044b6c15a
dc.identifier.otherdspace: 2299/3663
dc.identifier.otherScopus: 67349235929
dc.identifier.urihttp://hdl.handle.net/2299/9865
dc.descriptionOriginal article can be found at: http://www.sciencedirect.com/science/journal/01559982 Copyright Elsevier Ltd. DOI: 10.1016/j.accfor.2009.03.001
dc.description.abstractThis article considers how permissive regulatory conditions helped change the size and scope of the US mortgage market. Asset backed securitization facilitated an expansion of the US mortgage market and modified the structure of the value chain within which financial assets, risk and liquidity were managed. New sophisticated mortgage products, indulgent lending practices, loose credit assessment and flimsy documentation increased the probability of mortgage default in an economic downturn. US banks were not in a position to absorb mark-to-market losses on mortgage assets and goodwill impairment resulting from a credit crunch because they operate with narrow profit margins and a limited equity cushion in the balance sheet. This article questions the viability and sustainability of this banking business model.en
dc.language.isoeng
dc.relation.ispartofAccounting Forum
dc.rightsOpen
dc.titleWhen it comes to the crunch : What are the drivers of the US banking crisis?en
dc.contributor.institutionFinance and Accounting Research Unit
dc.contributor.institutionCentre for Research on Management, Economy and Society
dc.contributor.institutionHertfordshire Business School
dc.contributor.institutionSocial Sciences, Arts & Humanities Research Institute
dc.description.statusPeer reviewed
dc.relation.schoolHertfordshire Business School
dc.description.versiontypeFinal Accepted Version
dcterms.dateAccepted2009
rioxxterms.versionAM
rioxxterms.versionofrecordhttps://doi.org/10.1016/j.accfor.2009.03.001
rioxxterms.typeJournal Article/Review
herts.preservation.rarelyaccessedtrue
herts.rights.accesstypeOpen


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