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, they focus only on pure market risks without taking into account the market liquidity. As a consequence, they underestimate … the total risk. This paper focuses on the importance of market liquidity and describes ways to integrate it into the VaR …
Persistent link: https://www.econbiz.de/10005079050
The aim of the paper is to set the agency problem into a broad context of New Institutional Economics with an emphasis on historical connections. In the first section, I explain the historical evolution of basic theoretical concepts like the theory of firm, the theory of market process and the...
Persistent link: https://www.econbiz.de/10008545885
This paper analyses problems within the asymmetric information models (principal agent models) where we replace standard assumption of maximisation of expected income by maximisation of probability of economic survival. This paper concentrates on two basic models- adverse selection model and...
Persistent link: https://www.econbiz.de/10005698674
This paper shows results of comparison of the original theoretical conception of modeling human decisions under risk with two well known models. In the paper the demand function for insurance is constructed for the model of maximization of the probability of agent’s (economical) survival. This...
Persistent link: https://www.econbiz.de/10005673618
Persistent link: https://www.econbiz.de/10010413937
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Persistent link: https://www.econbiz.de/10009537652
The article analyses development of liquidity indicators of industrial companies during period 2007-2009 in consequence … to accession of global economic crisis. With focus on crisis, it evaluates development of liquidity indicators of … liquidity changes are analysed to the level of particular assets and liabilities which affected the liquidity development. The …
Persistent link: https://www.econbiz.de/10009401110
liquidity management. In theoretical part the case of banking system liquidity surplus is analyzed focusing on creation of … liquidity through FX operations, sterilization of liquidity and main sources of liquidity absorption. In this context it is … system liquidity needs and to cover issued currency in circulation and bank´s reserves by net foreign assets. In empirical …
Persistent link: https://www.econbiz.de/10008802572