Tech-Driven Intermediation in the Originate-To-Distribute Model

Title:

Tech-Driven Intermediation in the Originate-To-Distribute Model

GSB Authors:

Zhiguo He

All Authors:

He, Zhiguo

Jiang, S.

Xu, D.

Date:

2024-01-01

Abstract:

Study the accelerated adoption of information technologies in the intermediated originate-to-distribute model, like CLOs. Show informed intermediation can be welfare reducing given severe adverse selection while informed intermediation always improves welfare.

Collection:

Faculty Publications

Keywords:

microeconomics

general equilibrium

economics of information

financial economics

financial institutions

development and growth

innovation and R&D

asset pricing

corporate finance

industrial organization

DOI:

https://doi.org/10.3386/w32052

Publication Type:

Working Papers