Similar Search Results

Koellinger, Philipp; Roessler, Christian - Tinbergen Instituut - 2009

We develop a new perspective on the boundary of the firm that is consistent with the empirical observation that the share of entrepreneurs first decreases and then increases in the course of economic development. Existing theory based on transaction costs is difficult to relate to these...

Persistent link: https://www.econbiz.de/10011255927

Firm Formation with Complementarities: The Role of the Entrepreneur

Roessler, Christian; Koellinger, Philipp - Tinbergen Institute - 2009

We model the emergence of organization forms in a game between prospective entrepreneurs. Complementary roles arise endogenously in a way that admits a stable assignment of workers to firms. This contrasts with existing work on job matching, where stability typically requires workers to be...

Persistent link: https://www.econbiz.de/10005016278

Is More Entrepreneurship better?

Koellinger, Philipp; Roessler, Christian - Tinbergen Institute - 2009

Persistent link: https://www.econbiz.de/10008513213

Firm Formation with Complementarities: The Role of the Entrepreneur

Roessler, Christian; Koellinger, Philipp - Tinbergen Instituut - 2009

We model entrepreneurship and the emergence of firms as a result of simultaneous bidding for labor services among heterogeneousagents. Unique to our approach is that occupational choices, jobmatching and organizational forms are determined simultaneously, sothat the opportunity costs of...

Persistent link: https://www.econbiz.de/10011256953

Will Islamic Banking make the World less risky? An Empirical Analysis of Capital Structure, Risk Shifting and Financial Stability

Farooq, Moazzam; Wijnbergen, Sweder van; Zaheer, Sajjad - Tinbergen Instituut - 2015

-fledged Islamic banks (IBs) are indeed more stable than conventional banking institutions (CBIs), and are better capitalized than … loss provisioning. Similar results obtain for Islamic windows of mixed banks compared with conventional windows. The … analysis suggests that the loss absorption capacity of Islamic banks leads to less risk taking and a more stable banking system. …

Persistent link: https://www.econbiz.de/10011272595

Will Islamic Banking make the World less risky? An Empirical Analysis of Capital Structure, Risk Shifting and Financial Stability

Farooq, Moazzam; Wijnbergen, Sweder van; Zaheer, Sajjad - Tinbergen Instituut - 2015

Persistent link: https://www.econbiz.de/10011275100

State Aid and Bank Intervention: The ING Illiquid Assets Back-up Facility (IABF)

Wijnbergen, Sweder van; Treur, Leontine - Tinbergen Instituut - 2011

The ING Illiquid Assets Back-up Facility announced January 2009 was a SWAP-based insurance to reduce ING’s exposure to Alt-A related risk. Did the deal involve state aid? Usingmarketprices to evaluate the SWAP directly is impossible because markets for Alt-A based CDOs had collapsed. We...

Persistent link: https://www.econbiz.de/10011255729

Cocos, Contagion and Systemic Risk

Chan, Stephanie; Wijnbergen, Sweder van - Tinbergen Instituut - 2014

CoCo’s (contingent convertible capital) are designed to convert from debt to equity when banks need it most. Using a … on other banks in the system in the likely case of correlated asset returns, so bank runs elsewhere in the banking system …

Persistent link: https://www.econbiz.de/10011255852

The Political Economy of Financial Systems

Haber, Stephen; Perotti, Enrico - Tinbergen Instituut - 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/10011255875

The Political Economy of Financial Fragility

Feijen, Erik; Perotti, Enrico - Tinbergen Instituut - 2005

While financial liberalization has in general favorable effects, reforms in countries with poor regulation is often followed by financial crises. We explain this variation as the outcome of lobbying interests capturing the reform process. Even after liberalization, market investors must rely on...

Persistent link: https://www.econbiz.de/10011255930