Showing 1 - 10 of 1,635
This paper assesses the impact of information asymmetries on developing country financing and considers alternative techniques to reduce the adverse implications of such asymmetries. Following an introduction, Section II examines in general terms the role of information in financial markets and...
Persistent link: https://www.econbiz.de/10014395797
This paper investigates the extent to which financial markets in the Pacific Basin Region have become more integrated, by analyzing the comovements of real interest rates. The paper uses cointegration and error correction models and draws inferences on the degree of capital market integration by...
Persistent link: https://www.econbiz.de/10014397776
Agency problems within the firm are a significant hindrance to efficiency. We propose trust between coworkers as a superior alternative to the standard tools used to mitigate agency problems: increased monitoring and incentive-based pay. We show how trust induces employees to work harder,...
Persistent link: https://www.econbiz.de/10014399593
borrowing. The subsequent crisis has reduced the pool of assets considered acceptable as collateral, resulting in a liquidity … shortage. When trying to address this, policy makers will need to consider concepts of liquidity besides the traditional metric …
Persistent link: https://www.econbiz.de/10014396651
borrowing. The subsequent crisis has reduced the pool of assets considered acceptable as collateral, resulting in a liquidity … shortage. When trying to address this, policy makers will need to consider concepts of liquidity besides the traditional metric …
Persistent link: https://www.econbiz.de/10009614541
equivalents as capital controls can have negative effects on price discovery, volatility, and liquidity and lead to a reduction in …
Persistent link: https://www.econbiz.de/10014403612
This paper examines how a country’s exchange rate policy should be adjusted when the degree of integration between domestic and external financial markets increases as a result of both domestic financial liberalization and the relaxation of capital controls. As the financial structure is...
Persistent link: https://www.econbiz.de/10014396254
This paper underscores the importance of the assessment of incentives of the main agents in a financial system as a key element in the analysis of financial system vulnerability and the surveillance over the financial system. We outline a diagnostic approach for the assessment of incentives....
Persistent link: https://www.econbiz.de/10014400245
This paper provides an overview of indicators that can be used to illustrate and analyze liquidity developments in … aspects of market liquidity, namely tightness (costs), immediacy, depth, breadth, and resiliency. These measures are applied …''s degree of liquidity and because market-specific factors and peculiarities must be considered …
Persistent link: https://www.econbiz.de/10014399617
We explore the link between international stock market comovement and the degree to which firms operate globally. Using stock returns and balance sheet data for companies in 20 countries, we estimate a factor model that decomposes stock returns into global, country-specific and industry-specific...
Persistent link: https://www.econbiz.de/10014403861