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In the conventional literature related to investment decisions, less attention has been paid to the length of maturiry when investrnent is debt-financed. In such a case a firm pays the creditor not only the sum of annual interest (initial investment cost multiplied by real interest rate) for the...
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provide guidance for improving transparency while maintaining trader confidentiality. In addition, we analyze liquidity in the …
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The current peer review system suffers from two key problems: promotion of an in-crowd whose methods, opinions and innovations it protects; and failure to represent the opinions and interests of non-peer clients. As a result, whole disciplines orient themselves toward navel-gazing research...
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We analyze price transparency in a dynamic market with private information and interdependent values. Uninformed buyers …
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I consider the role of firm transparency in shaping its capital structure. In a costly-state-verification model, the … optimally choose zero leverage and finance themselves with equity. If firms can increase their transparency at a cost – say by …
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