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Bank leverage, welfare, and regulation
Admati, Anat R.; Hellwig, Martin - 2018 - Revised November 19, 2018
Persistent link: https://www.econbiz.de/10011942146
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Debt and transfer pricing: implications on business tax policy
Comincioli, Nicola; Panteghini, Paolo; Vergalli, Sergio - 2020
In this article we introduce model to describe the behavior of a multinational company (MNC) that operates transfer pricing and debt shifting, with the purpose of incrementing its value, intended as the sum of equity and debt. We compute, in a stochastic environment and under default risk, the...
Persistent link: https://www.econbiz.de/10012306718
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Business tax policy under default risk
Comincioli, Nicola; Vergalli, Sergio; Panteghini, Paolo - 2019
In this article we use a stochastic model with one representative firm to study business tax policy under default risk. We will show that, for a given tax rate, the government has an incentive to reduce (increase) financial instability and default costs if its objective function is welfare (tax...
Persistent link: https://www.econbiz.de/10012006573
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Financial Sector Legislative Reforms Commission (FSLRC) & financial sector regulation in India
Bhagwati, Jaimini; Khan, M. Shuheb; Bogathi, … - 2016
The Financial Sector Reforms Commission (FSLRC) which was set up in 2011 by the Ministry of Finance was mandated to study existing legislation and financial sector regulatory practices in India and to propose improvements. The FSLRC submitted its report in 2013 and four of its members recorded...
Persistent link: https://www.econbiz.de/10011483647
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Banking leverage procyclicality : a theoretical model introducing currency diversification
Pedrono, Justine - 2017
Persistent link: https://www.econbiz.de/10011745493
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Bank panics and scale economies
Andolfatto, David; Nosal, Ed - 2017
A bank panic is an expectation-driven redemption event that results in a self-fulfilling prophecy of losses on demand … deposits. From the standpoint of theory in the tradition of Diamond and Dybvig (1983) and Green and Lin (2003), it is … surprisingly di¢ cult to generate bank panic equilibria if one allows for a plausible degree of contractual flexibility. A common …
Persistent link: https://www.econbiz.de/10011691431
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Regulatory competition in capital standards with selection effects among banks
Haufler, Andreas; Maier, Ulf - 2016
Persistent link: https://www.econbiz.de/10011548082
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Accelerated depreciation, default risk and investment decisions
Panteghini, Paolo; Vergalli, Sergio - 2016
In this article we focus on a representative firm that can decide when to invest under default risk. On the one hand, this firm can benefit from generous tax depreciation allowances, on the other hand it faces a default risk. Our aim is to study the effects of tax depreciation allowances in a...
Persistent link: https://www.econbiz.de/10011451578
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Optimal investment and financial strategies under tax rate uncertainty
Fedele, Alessandro; Panteghini, Paolo; Vergalli, Sergio - 2010 - Current version: March 23, 2010
In this paper we apply a real-option model to study the effects of tax rate uncertainty on a firm's decisions. In doing so, we depart from the relevant literature, which focuses on fully equity-financed investment projects. By letting a representative firm borrow optimally, we show that debt...
Persistent link: https://www.econbiz.de/10008729101
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Debt and tax losses : the effect of tax asymmetries on the cost of capital and capital structure
Krzepkowski, Matt - 2013
Persistent link: https://www.econbiz.de/10010358552