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Market timing of long-term debt issuance

Witmer, Jonathan - 2009

The literature on market timing of long-term debt issuance yields mixed evidence that managers can successfully time … their debt-maturity issuance. The early results that are indicative of debt-maturity timing are not robust to accounting for … structural breaks or to other measures of debt maturity from firm-level data that account for call and put provisions in debt …

Persistent link: https://www.econbiz.de/10003933249

Multiple buffer CoCos and their impact on financial stability

Neamtu, Ioana - 2020

global games methodologies. Contingent convertible bonds are meant to act as a bail-in mechanism for banks, where CoCo debt …

Persistent link: https://www.econbiz.de/10012161027

Lessons from international central counterparties : benchmarking and analysis

Lazarow, Alexandre - 2011

Since the financial crisis, attention has focused on central counterparties (CCPs) as a solution to systemic risk for a variety of financial markets, ranging from repurchase agreements and options to swaps. However, internationally accepted standards and the academic literature have left...

Persistent link: https://www.econbiz.de/10009130555

A framework in search of an optimal margining policy for official institutions : the Canadian experience

Nakashima, Tomo; Cosma, Mihai; Plong, Boran - 2016

One of the main outcomes of the global financial crisis has been a series of new regulations imposed on the financial system and specifically on banks. As a result of the changing regulations, bank dealers introduced various "credit" and "liquidity" charges for uncollateralized over-the-counter...

Persistent link: https://www.econbiz.de/10011439879

Investor protection and entry

Perotti, Enrico C.; Volpin, Paolo - 2006

Entry requires external finance, especially for less wealthy entrepreneurs, so poor investor protection limits competition. We model how incumbents lobby harder to block access to finance to entrants when politicians are less accountable to voters. In a broad cross-section of countries and...

Persistent link: https://www.econbiz.de/10011350369

The political economy of financial systems

Haber, Stephen H.; Perotti, Enrico C. - 2008

This survey reviews the literature on the political economy of financial structure, broadly defined to include the size of capital markets and banking systems as well as the distribution of access to external finance across firms.The theoretical literature on the institutional basis for...

Persistent link: https://www.econbiz.de/10011374399

Financial distress and hedging : evidence from Canadian oil firms

Mo, Kun; Suvankulov, Farrukh; Griffiths, Sophie - 2019

firms with higher short-term and long-term debt tend to hedge more. Furthermore, an increase in the Altman bankruptcy score …

Persistent link: https://www.econbiz.de/10011999674

Multilateral development bank credit rating methodology : overcoming the challenges in assessing relative credit risk in highly rated institutions based on public data

Chen, David; Muller, Philippe; Wagué, Hawa - 2017

The investment of foreign exchange reserves or other asset portfolios requires an assessment of the credit quality of counterparties. Traditionally, foreign exchange reserve managers and other investors have relied on credit rating agencies (CRAs) as the main source for credit assessments. The...

Persistent link: https://www.econbiz.de/10011647655

Methodology for assigning credit ratings to sovereigns

Muller, Philippe; Bourque, Jérôme - 2017

The investment of foreign exchange reserves or other asset portfolios requires an assessment of the credit quality of investment counterparties. Traditionally, foreign exchange reserve and asset managers have relied on credit rating agencies (CRAs) as the main source for credit assessments. The...

Persistent link: https://www.econbiz.de/10011647656

The fundamental equation in tourism finance

McAleer, Michael - 2015

The purpose of the paper is to present the fundamental equation in tourism finance that connects tourism research to empirical finance and financial econometrics. The energy industry, which includes, oil, gas and bio-energy fuels, together with the tourism industry, are two of the most important...

Persistent link: https://www.econbiz.de/10011391546