Vivian van Breemen

278 7. General Discussion and Conclusion The securitization market is most remembered for its role during the 2007- 2009 Global Financial Crisis (GFC). Significant measures have been put in place it nh easne amt teeams uprt etso abnedt twe rh ar et gout lhaet re et hf f iesc tms at rhkeeyt ms i anyc eh at hv ee nh, ayde ta trhe en eoftf eacl wt i vaeyns ecsl se aorf. It nh et hGiFs Cd ii ns soerrdt aetri ot on , s It ul odoy kt haet tmh oe sst epcruervi tailzeant ti orni s kmsaarnk de tpbr eo fvoi rdee, sdeuvrei nr agl, aanngdl easf toenr ht hoawt mt oa oy phtei ml pi zr ee grue lgaut ol artsi ot no . oTpht ei moivzeer ra ur cl ehsi nagn dp ur repg ousl ae t ii so nt os pf orro vt hi de es enceuwr iitni zsai gt ihotns mf u ar trhkee rt iamn pd r ho ve el pt hi nevseesct uo rr ist i tzoa tmi oank me abrekt et et ra ni ndf oc romn seedq ud ee nc itsl yi otnhse. rI etshi el i reenbcye torfyt ht oe financial system. I do so by answering the following overarching research question: To what extent do factors beyond credit ratings affect securities’ credit quality, and to what extent do investors rely upon these ratings? To of we xhpi cl ho ries ot huitsl i qnue edsitni oan s, eI phaarvaet ei ncvheaspt ti eg ra toefdt hf iivsedei sms epri trai ct ai ol ns.uTbh- qe ume sati ino nf i sn, dei na cghs at hnids idt si sisnetretral ti inokna. gFei sn aa rl ley ,dtihs ec ucsosne tdr ibbeul ot i wo nt, ol idme irti av tei ot on st hoef oovuerr sa truc dh yi n, ga nodu tpcoosms ieb ol ef avenues for future research are provided.

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