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No More Rocking Horses: Trading Business-Cycle Depth for Duration Using an Economy-Specific Characteristic.
Mikhail, Ossama - EconWPA - 2004
Regarding the trade-off between the depth and the duration of recessions, there exists a mounting empirical evidence of the idiosyncratic and non-synchronized behavior of the business cycle over time within and across countries. In this paper, I propose a stochastic dynamic general equilibrium...
Persistent link: https://www.econbiz.de/10005076708
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INDIAN VENTURE CAPITALISTS (VCs) INVESTMENT EVALUATION CRITERIA
Mishra, Asim - EconWPA - 2005
The Venture capital (VC) industry in India is of recent origin. However, the average investment value of each deal in India have grown from $3.85 million in 2000 to $7.89 million in 2001.These developments together with the recent steps taken by government to promote venture capitalism in India...
Persistent link: https://www.econbiz.de/10005134795
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Bank Stability and Market Discipline: Debt-for-Equity Swap versus Subordinated Notes
Raviv, Alon - EconWPA - 2004
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 …
Persistent link: https://www.econbiz.de/10005413031
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CIRCULAR VARIABLE WORK IN PROCESS
Vildosola, Luis - EconWPA - 2002
This work is focused on identifying a circular pull production control system (PPCS) and make emphasis on the presence of a stability attribute. It is an introductory paper to an extended study of macroeconomic financial stability in a physically open but systemic closed system. Previous work...
Persistent link: https://www.econbiz.de/10005126234
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Equilibrium in financial markets with adverse selection
Takalo, Tuomas; Toivanen, Otto - EconWPA - 2004
We study a financial market adverse selection model where all agents are endowed with initial wealth and choose to invest as entrepreneurs or financiers, or not to invest. We show that often a lack of outside finance leads to the emergence of financial markets where availability of outside...
Persistent link: https://www.econbiz.de/10005134723
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Capital Regulation and Credit Risk Taking : Empirical Evidence from Banks in Emerging Market Economies
Godlewski, Christophe - EconWPA - 2004
The primary purpose of this article is to investigate the relationship between bank capital and credit risk taking in … and legal environment in driving bank capitalization and credit risk taking behavior in emerging market economies. …
Persistent link: https://www.econbiz.de/10005076943
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Le Rôle de l'Environnement Réglementaire, Légal et Institutionnel dans la Défaillance des Banques : Le Cas des Pays Emergents
Godlewski, Christophe - EconWPA - 2004
Cet article étudie l’impact des facteurs institutionnels et réglementaires sur la défaillance des banques des pays émergents. Peu de travaux se sont intéressés à la défaillance bancaire dans ces pays. Or, la qualité des institutions telles que les commissions de régulation et de...
Persistent link: https://www.econbiz.de/10005077004
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Excess Credit Risk and Bank’s Default Risk An Application of Default Prediction’s Models to Banks from Emerging Market Economies
Godlewski, Christophe - EconWPA - 2004
taking in banks. Few studies deal with the impact of these external factors on bank’s risk taking and probability of default … institutional environement and bank’s health, especially in emerging market economies. We apply a two step logit model to a database … a source of excess credit risk, which increases bank failure risk. The integration of these environmental variables …
Persistent link: https://www.econbiz.de/10005077012
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Influence des Facteurs Institutionnels sur l’Excès de Risque et les Ratings de Banques dans les Pays Emergents
Godlewski, Christophe - EconWPA - 2004
’s Bank Financial Strenght Rating (BFSR). En nous inspirant des résultats de Poon et al. [1999] (”A Multivariate Analysis of … the Determinants of Moody’s Bank Financial Strength Ratings”, Journal of International Financial Markets, Institutions and …
Persistent link: https://www.econbiz.de/10005077037
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Etude de la Cohérence des Ratings de Banques avec la Probabiliies de Dfaillance Bancaire dans les Pays Emergents
Godlewski, Christophe - EconWPA - 2004
Cet article propose d’appliquer la méthodologie de scoring et de calibrage afin d’étudier la cohérence des ratings de banques avec un modèle de défaut des banques dans les pays émergents. En effet, le rôle du rating en temps que vecteur de discipline de marché, via la véhiculation...
Persistent link: https://www.econbiz.de/10005077042