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Takeover, distress, and equity issuance : evidence from Korea
Cho, Euna - 2019
Persistent link: https://www.econbiz.de/10012171442
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Modeling Managers As EPS Maximizers
Ben-David, Itzhak; Chinco, Alex - 2023
explanation for a wide range of corporate policies such as leverage, share issuance and repurchases, M&A payment method, cash …
Persistent link: https://www.econbiz.de/10014351328
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A bank salvage model by impulse stochastic controls
Cordoni, Francesco Giuseppe; Di Persio, Luca; Jiang, Yilun - In: Risks : open access journal 8 (2020) 2/60, pp. 1-31
The present paper is devoted to the study of a bank salvage model with a finite time horizon that is subjected to stochastic impulse controls. In our model, the bank’s default time is a completely inaccessible random quantity generating its own filtration, then reflecting the unpredictability...
Persistent link: https://www.econbiz.de/10012292938
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A critique of the literature on the US financial debt crisis
Stein, Jerome L. - 2010
leverage, the optimum and excessive risk and the probability of a debt crisis. The theoretically founded early warning signals … crisis ; optimal leverage and debt ratios ; Congressional Oversight Panel ; Case-Shiller index …
Persistent link: https://www.econbiz.de/10003936616
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Alan Greenspan, the quants and stochastic optimal control
Stein, Jerome L. - 2010
function on too thin layer of capital - high leverage - owing to a misreading of the degree of risk embodied in ever more … complex financial products and markets. Third, the breakdown was unpredictable and inevitable, given the “excessive” leverage … following questions: what is an optimal leverage or capital requirement that balances the expected growth against risk? What are …
Persistent link: https://www.econbiz.de/10003971912
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Do firm characteristics and industry matter in determining corporate cash holdings? : vidence from hospitality firms
Jing Hui Kwan; Lau, Wee-Yeap - In: Journal of Asian finance, economics and business : JAFEB 7 (2020) 2, pp. 9-20
Persistent link: https://www.econbiz.de/10012667253
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Mediating effects of cash management in relationship between capital structure and liquidity in small and medium enterprises
Danjuma, Ibrahim; Umar, Mohammed Sangiru; Hammawa, … - In: International journal of economics and financial issues … 5 (2015) 4, pp. 995-1000
Persistent link: https://www.econbiz.de/10011455350
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Corporate deleveraging and financial flexibility
DeAngelo, Harry; Gonçalves, Andrei S.; Stulz, René M. - 2017
Most firms deleverage from their historical peak market-leverage (ML) ratios to near-zero ML, while also markedly … positive leverage targets …
Persistent link: https://www.econbiz.de/10011969090
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Optimal installation of solar panels with price impact : a solvable singular stochastic control problem
Koch, Torben; Vargiolu, Tiziano - 2019
We consider a price-maker company which generates electricity and sells it in the spot market. The company can increase its level of installed power by irreversible installations of solar panels. In absence of the company's economic activities, the spot electricity price evolves as an...
Persistent link: https://www.econbiz.de/10012121992
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Optimal control of debt-to-GDP ratio in an N-state regime switching economy
Ferrari, Giorgio; Rodosthenous, Neofytos - 2019
We solve an infinite time-horizon bounded-variation stochastic control problem with regime switching between N states. This is motivated by the problem of a government that wants to control the country's debt-to-GDP (gross domestic product) ratio. In our formulation, the debt-to-GDP ratio...
Persistent link: https://www.econbiz.de/10012009976