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Strategic and Tactical Allocation to Commodities for Retirement Savings Schemes

Nijman, Theo; Swinkels, L.A.P. - Tilburg University, Center for Economic Research - 2003

Persistent link: https://www.econbiz.de/10011091491

Are Pension Savings sufficient? Perceptions and Expectations of American and Dutch Workers

van Dalen, H.P.; Henkens, K.; Hershey, D.A. - Tilburg University, Center for Economic Research - 2008

Are retirement savings sufficient to finance a good pension income? This highly uncertain and subjective dimension of … American workers in 2007. Despite marked differences in expected and needed pension replacement rates - where the Dutch …

Persistent link: https://www.econbiz.de/10011092199

Longevity Risk and Natural Hedge Potential in Portfolios Of Life Insurance Products : The Effect of Investment Risk

De Waegenaere, Anja; Melenberg, Bertrand; Stevens, R.S.P. - Tilburg University, Center for Economic Research - 2011

Payments of life insurance products depend on the uncertain future evolution of survival probabilities. This uncertainty is referred to as longevity risk. Existing literature shows that the effect of longevity risk on single life annuities can be substantial, and that there exists a (natural)...

Persistent link: https://www.econbiz.de/10011091822

The Term Structure of Credit Spreads on Euro Corporate Bonds

van Landschoot, A. - Tilburg University, Center for Economic Research - 2003

models.In this paper we examine the term structure of credit spreads on euro corporate bonds and the empirical validation of … of 1577 investment grade corporate and 250 AAA rated government bonds, we first estimate the term structure of credit … spreads on plus rated bonds have significantly higher credit spreads than minus rated bonds.According to the structural models …

Persistent link: https://www.econbiz.de/10011090559

The Impact of Institutional Differences on Derivatives Usage : A Comparative Study of US and Dutch Firms

Bodnar, G.M.; de Jong, A.; Macrae, V. - Tilburg University, Center for Economic Research - 2001

This paper tests the influence of institutional differences on risk management practices.Several survey studies have investigated derivatives usage for risk management purposes in the US (see, among others, Bodnar, Hayt, Marston and Smithson, 1995 and Bodnar, Hayt and Marston, 1996, 1998).In...

Persistent link: https://www.econbiz.de/10011092330

Back to Basics in Banking? A Micro-Analysis of Banking System Stability

De Jonghe, Olivier - Tilburg University, Center for Economic Research - 2009

This paper analyzes the relationship between banks’ divergent strategies toward specialization and diversification of financial activities and their ability to withstand a banking sector crash. We first generate market-based measures of banks’ systemic risk exposures using extreme value...

Persistent link: https://www.econbiz.de/10011092811

The Importance of Trust for Investment : Evidence From Venture Capital (Revision of DP 2009-43)

Da Rin, Marco; Bottazzi, L.; Hellmann, T. - Tilburg University, Center for Economic Research - 2010

We examine the effect of trust on financial investment and contracting decisions in a micro-economic environment where trust is exogenous. Using hand-collected data on European venture capital, we show that the Eurobarometer measure of trust among nations significantly affects investment...

Persistent link: https://www.econbiz.de/10011090711

Exclusion Through Speculation

Argenton, Cédric; Willems, Bert - Tilburg University, Center for Economic Research - 2010

Many commodities are traded on both a spot market and a derivative market. We show that an incumbent producer may use financial derivatives to extract rent from a potential entrant. The incumbent can indeed sell insurance to a large buyer to commit himself to compete aggressively in the spot...

Persistent link: https://www.econbiz.de/10011091883

Bankruptcy Law and Corporate Investment Decisions

Tarantino, E.T. - Tilburg University, Center for Economic Research - 2009

This paper contributes to the debate on optimal bankruptcy reform by providing a set of results that challenge the wisdom that "soft" bankruptcy codes have necessarily positive effects. The model hinges on the key idea that "soft" bankruptcy allows a poor performing entrepreneur to renegotiate...

Persistent link: https://www.econbiz.de/10011092005

Liquidation Values, Risk and Capital Structure

Rosellon Cifuentes, M.A. - Tilburg University, Center for Economic Research - 1999

This paper investigate the interaction between financial structure, liquidation values and product market equilibrium. Liquidation values depend on how many firms are liquidated, and therefore on the industry equilibrium of capital structures and of technology choices. We show that firms using a...

Persistent link: https://www.econbiz.de/10011092400