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Student satisfaction, league tables and University applications

Gibbons, Stephen; Neumayer, Eric; Perkins, Richard - London School of Economics (LSE) - 2013

We investigate the impact of information about student satisfaction on university choice, using data from the UK …

Persistent link: https://www.econbiz.de/10011126173

Exporters, importers and credit constraints

Muûls, Mirabelle - London School of Economics (LSE) - 2012

This paper analyses the interaction between credit constraints and trading behaviour. I construct a unique dataset containing firm-level trade transactions data, balance sheets and credit scores from an independent credit insurance company for Belgian manufacturing firms between 1999 and 2007....

Persistent link: https://www.econbiz.de/10010746016

Delegated activism and disclosure

Dasgupta, Amil; Zachariadis, Konstantinos - London School of Economics (LSE) - 2011

Mutual funds hold large blocks of shares in many major corporations. Practitioners and regulators alike have been concerned that mutual funds use their proxy votes in a promanagement manner in order to garner lucrative pensions administration contracts, thus hindering shareholder value. Such...

Persistent link: https://www.econbiz.de/10010746571

Are there any Animal Spirits behind the Scenes of the Euro area Sovereign Debt Crisis?

Mamatzakis, Emmanuel - London School of Economics (LSE) - 2013

This paper reveals the underlying market’s preferences over the on going Euro area sovereign debt crisis. It builds on a loss function with reference to the ‘basis’, the difference between the spread over swap and Credit Default Swap (CDS) for sovereign bonds. This loss function is general...

Persistent link: https://www.econbiz.de/10010686658

Consistent measures of risk

Danielsson, Jon; Zigrand, Jean-Pierre; Jorgensen, Bjørn N. - London School of Economics (LSE) - 2006

In this paper we compare overall as well as downside risk measures with respect to the criteria of first and second order stochastic dominance. While the downside risk measures, with the exception of tail conditional expectation, are consistent with first order stochastic dominance, overall risk...

Persistent link: https://www.econbiz.de/10011071496

Rational trader risk

Kondor, Peter - London School of Economics (LSE) - 2004

Allowing for a richer information structure than usual, we show that rational traders’ calculation with short …-term price fluctuations may heavily influence their behaviour even if the interim price is not influenced by non-rational agents … i.e. there is no noise trader risk. Instead, traders expect that new rational entrants with different information in the …

Persistent link: https://www.econbiz.de/10010884635

Unique equilibrium in a dynamic model of crises with frictions

Guimaraes, Bernardo - London School of Economics (LSE) - 2005

This paper studies a dynamic model of crises with timing frictions that combines the main aspects of Morris and Shin (1998) and Frankel and Pauzner (2000). The usual arguments for existence and uniqueness of equilibrium cannot be applied. It is shown that the model has a unique equilibrium...

Persistent link: https://www.econbiz.de/10010928606

Search and endogenous concentration of liquidity in asset markets

Vayanos, Dimitri; Wang, Tan - London School of Economics (LSE) - 2004

We develop a search-based model of asset trading, in which investors of different horizons can invest in two identical assets. The asset markets are partially segmented: buyers can search for only one asset, but can decide which one. We show that there exists a "clientele" equilibrium where one...

Persistent link: https://www.econbiz.de/10010928661

Uncertainty and investment dynamics

Van Reenen, John; Bloom, Nick; Bond, Steve - London School of Economics (LSE) - 2006

This paper shows that, with (partial) irreversibility, higher uncertainty reduces the impact effect of demand shocks on investment. Uncertainty increases real option values making firms more cautious when investing or disinvesting. This is confirmed both numerically for a model with a rich mix...

Persistent link: https://www.econbiz.de/10010928730

The impact of uncertainty shocks: firm level estimation and a 9/11 simulation

Bloom, Nick - London School of Economics (LSE) - 2006

Uncertainty appears to vary strongly over time, temporarily rising by up to 200% around major shocks like the Cuban Missile crisis, the assassination of JFK and 9/11. This paper offers the first structural framework to analyze uncertainty shocks. I build a model with a time varying second...

Persistent link: https://www.econbiz.de/10010744930