Economic cycles are the key credit portfolio risk driver and they are autocorrelated over time. We then show that it is … economically meaningful to define risk for credit portfolios in a multi period setup. Since one period expected shortfall fails to … measure risk adequately in a multi period context, we then extend the coherent expected shortfall to time-conditional expected …

We examine the coexistence of banks and financial markets, studyinga credit market where the qualities of investment … projects are notobservable and the investment decisions of entrepreneurs are not contractible... …

paper we address two issuesrelated to the effects of MLA on risky investment decisions. First, we assess therelative impact … of feedback frequency and investment flexibility (via theinvestment horizon) on risky investments. Second, given that we … observehigher investments with a longer investment horizon, we examine conditionsunder which investors might endogenously opt for a …

abatement technologies are irreversible. Weassume that the investment in the new abatement technology can be used for twoperiods …

Using a ¯rm-level panel data set I assess whether dynamic models of in-vestment provide an empirically fruitful … not been considered in previous studies on investment even though most(if not all) panel data sets on ¯rms are incomplete …

composition of equipment investment. We make threecontributions. First, we document strikingly large differences in investment …

This study explores individual and country-level environmental drivers of informal “seed” investment. We examine four …,960 informal investors, we report drivers for the four types of seed investment. Descriptive statistics are consistent with prior …