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New financial instruments and the transparency of market information

Author

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  • Janusz Kudla

    (University of Warsaw)

Abstract

Modern financial instruments such as: structured notes, leases (in particular consumer leasing), securitization with the use of special investment funds and exotic foreign exchange derivatives contain an important systemic risk that is not properly perceived by investors and even perhaps is consciously hidden by financial institutions. The article identifies these hidden risk and their reasons, pointing primarily to the asymmetry of information and conflicts of interests between investors and financial institutions.

Suggested Citation

  • Janusz Kudla, 2010. "New financial instruments and the transparency of market information," Ekonomia i Prawo, Uniwersytet Mikolaja Kopernika, vol. 6(1), pages 199-214, December.
    • Handle: RePEc:cpn:umkeip:v:6:y:2010:i:1:p:199-214
    DOI: 10.12775/EiP.2010.014
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    More about this item

    Keywords

    financial instruments; market information; risk; asymmetry of information;
    All these keywords.

    JEL classification:

    • A - General Economics and Teaching

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