A man is a key subject of economics and economic theory. “A man is irrational” - this opinion can be made from Allais … solution of these problems and the development of the economic theory. A radically new approach has been proposed. It considers …

fixed income unless the value of the bank’s assets falls below a predetermined threshold. In such an event, the debt … obligation is automatically converted to the bank’s common equities. By using a contingent claims valuation approach we present … bank that includes DES or alternatively subordinated debt in its capital structure. We compare and evaluate quantitatively …

This paper analyses bank exit (ie reorganisation and liquidation) legislation in selected financial centres: New York …, London, Frankfurt, Helsinki and Tokyo. The focus is on bank exit legislation applicable to commercial banks. The legislation … is analysed from the perspective of bank stakeholders, ie bank creditors, depositors and bank shareholders. The analysis …

This paper evaluates bank exit regimes in selected financial centres using econometric methods. The focus is on bank … exit regimes applicable to commercial banks in New York, London, Frankfurt, Helsinki and Tokyo in 1998–2002. Bank exit … regimes are studied from the perspective of bank creditors and bank shareholders. In order to apply econometric methods, the …

infringements. It gives promises for both solving fundamental problems of economic theory and creation of new directions and fields … application of the approach in relation to bank deposits, investments, business projects and international activities such as …