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From inspection to auditing: audit and markets as linked ecologies

Mennicken, Andrea - London School of Economics (LSE) - 2010

This paper studies the roles that images and ideas of market creation played in the re-articulation of relations between government, audit expertise and professional organisation in post-Soviet Russia. It examines the change from state-led inspection to market-oriented auditing between 1985 and...

Persistent link: https://www.econbiz.de/10011071340

LARCH, leverage and long memory

Giraitis, Liudas; Leipus, Remigijus; Robinson, Peter M.; … - London School of Economics (LSE) - 2003

We consider the long memory and leverage properties of a model for the conditional variance of an observable stationary … of Engle (1990), and to a version of the quadratic ARCH model of Sentana (1995), these authors having discussed leverage … memory processes. We also establish a leverage property and conditions for finiteness of third and higher moments. …

Persistent link: https://www.econbiz.de/10010745453

Market liquidity and funding liquidity

Brunnermeier, Markus K.; Pedersen, Lasse Heje - London School of Economics (LSE) - 2007

We provide a model that links an asset's market liquidity; i.e., the ease with which it is traded; and traders' funding liquidity, i.e. the ease with which they can obtain funding. Traders provide market liquidity, and their ability to do so depends on their availability of funding. Conversely,...

Persistent link: https://www.econbiz.de/10010745945

Interoperability and market foreclosure in the European Microsoft case

Kuhn, Kai Uwe; Van Reenen, John - London School of Economics (LSE) - 2008

In this paper we discuss some of the most important economic issues raised in European Commission vs. Microsoft (2004) concerning the market for work group servers. In our view, the most important economic issues relate to (a) foreclosure incentives and (b) innovation effects of the proposed...

Persistent link: https://www.econbiz.de/10010746007

Financial constraints in search equilibrium

Boeri, Tito; Garibaldi, Pietro; Moen, Espen R. - London School of Economics (LSE) - 2014

The Great Recession has indicated that firms' leverage and access to finance are important for hiring and firing …

Persistent link: https://www.econbiz.de/10011126499

Diversification and financial stability

Tasca, Paolo; Battiston, Stefano - London School of Economics (LSE) - 2014

This paper contributes to a growing literature on the pitfalls of diversification by shedding light on a new mechanism under which, full risk diversification can be sub-optimal. In particular, banks must choose the optimal level of diversification in a market where returns display a bimodal...

Persistent link: https://www.econbiz.de/10011163503