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Trademark Values in Corporate Restructuring

Torres, Fernando - Volkswirtschaftliche Fakultät, … - 2007

In corporate restructuring under Chapter 11, an asset valuation is a central task for both legal and financial reasons. In the area of intangible assets, however, generally accepted accounting principles (GAAP) do not reflect internally-generated assets such as brands, trademarks, and other...

Persistent link: https://www.econbiz.de/10005836409

The financial leverage of Insurers subject to price regulation: evidence from Canada

Strauss, Jason David - Volkswirtschaftliche Fakultät, … - 2008

The variation in the degree of price regulation in the property-liability insurance market in Canada varies across time and space, creating an opportunity to test a recurring theory in regulatory economics: that price regulated firms have higher levels of financial leverage. Using an...

Persistent link: https://www.econbiz.de/10005837467

Price Regulation, Market Exit, and Financial Leverage of Canadian Property-Liability Insurers

Strauss, Jason - Volkswirtschaftliche Fakultät, … - 2007

regulators. Prior research suggests that firms increase their financial leverage, and thus their probability of bankruptcy and … expected bankruptcy costs, in order to mitigate the severity of binding price ceilings. Although financial leverage can be … insurers as well as the probability of bankruptcy, the non-selection probability. …

Persistent link: https://www.econbiz.de/10005837519

Bankruptcy and Firm Dynamics; The Case of the Missing Firms

Rodríguez-Delgado, Jose Daniel - International Monetary Fund (IMF) - 2010

Financial frictions have been documented as an important determinant of firm dynamics. In this paper I model bankruptcy … a model of firm dynamics that generate endogenous borrowing limits and I find that a) inefficient bankruptcy procedures …

Persistent link: https://www.econbiz.de/10008519503

Bank Competition, Risk and Asset Allocations

Boyd, John H.; Nicoló, Gianni De; Jalal, Abu M. - International Monetary Fund (IMF) - 2009

We study a banking model in which banks invest in a riskless asset and compete in both deposit and risky loan markets. The model predicts that as competition increases, both loans and assets increase; however, the effect on the loans-to-assets ratio is ambiguous. Similarly, as competition...

Persistent link: https://www.econbiz.de/10008528611

The Need for Special Resolution Regimes for Financial Institutions; The Case of theeuropean Union

Cihák, Martin; Nier, Erlend - International Monetary Fund (IMF) - 2009

The global financial crisis has demonstrated weaknesses in resolution regimes for financial institutions around the globe, including in the European Union (EU). This paper considers the principles underlying resolution regimes for financial institutions, and draws out how a well-designed...

Persistent link: https://www.econbiz.de/10008528635

Counterparty Risk, Impacton Collateral Flows and Role for Central Counterparties

Aitken, James; Singh, Manmohan - International Monetary Fund (IMF) - 2009

Counterparty risk in the United States stemming from exposures to OTC derivatives payables (after netting) is now concentrated in five banks?Goldman Sachs, JPMorgan, Bank of America, Morgan Stanley and Citi. This note analyzes how such risks have shifted over the past year. We estimate that the...

Persistent link: https://www.econbiz.de/10008528640

Recent Advances in Credit Risk Modeling

Gasha, Jose Giancarlo; Santos, Andre; Chan-Lau, Jorge A.; … - International Monetary Fund (IMF) - 2009

As is well known, most models of credit risk have failed to measure the credit risks in the context of the global financial crisis. In this context, financial industry representatives, regulators and academics worldwide have given new impetus to efforts to improve credit risk modeling for...

Persistent link: https://www.econbiz.de/10008528651

Quality of Institutions, Credit Markets and Bankruptcy

Hainz, Christa - Volkswirtschaftliche Fakultät, … - 2004

The number of firm bankruptcies is surprisingly low in economies with poor institutions. We study a model of bank-firm relationship and show that the bank's decision to liquidate bad firms has two opposing effects. First, the bank gets a payoff if a firm is liquidated. Second, it loses the rent...

Persistent link: https://www.econbiz.de/10005121197

Equilibrium in the Insurance Industry: Price and Probability of Insolvency

Strauss, Jason - Volkswirtschaftliche Fakultät, … - 2007

The goal of this essay is to show an insurance market equilibrium defined by an insurance product price and a probability of insolvency for the insurer(s).

Persistent link: https://www.econbiz.de/10005260096