This article analyses the economics of financing banking supervision and attempts to respond to two questions: What are the most common financing practices? Can the differences in current financing practices be explained by country specific factors? We perform an empirical analysis that...

A mezőgazdasági vállalkozásokban jelentős kockázat az árkockázat. Fedezeti ügyletekkel aktív kockázatkezelést folytató gazdálkodók száma jelentősen elmarad a nemzetközi átlagtól. Az árutőzsde hatékony működése szükséges ahhoz, hogy megfelelő határidős ügyletekkel...

This paper investigates the relationship between annual report disclosure, market liquidity, and capital cost for firms registered on the Deutsche Börse. Disclosure is comprehensively measured using the innovative Artificial Intelligence Measurement of Disclosure (AIMD). Results show that...

We study equilibrium trading strategies, market liquidity, and price efficiency in an economy in which a fraction of better-informed speculators displays preferences consistent with Kahneman and Tversky’s (1979) Prospect Theory, i.e., loss aversion, risk seeking over losses, and nonlinear and...

Darbe yra analizuojamos Nasdaq OMX Baltijos ir Nasdaq OMX Šiaurės rinkos, siekiant nustatyti, kurios rinkos likvidumas yra atsparesnis globaliam finansiniam nuosmukiui ir kokie įmonių lygio veiksniai nulemia didesnį likvidumo atsparumą. Teorinėje dalyje apžvelgiamos rinkos likvidumo...

En este trabajo se propone un nuevo indicador sintético de liquidez de mercado que resume la información contenida en un conjunto amplio de medidas individuales para los mercados de renta fija de EEUU, tanto soberana como corporativa. En concreto, el indicador propuesto sintetiza diecisiete...

En este trabajo se analiza la liquidez del mercado de deuda pública a diez años en Estados Unidos antes y después de la crisis financiera. Se consideran tanto el nivel como su resistencia, es decir, la forma en que la liquidez reacciona a los shocks financieros. Tras analizar cinco...

This paper develops a reduced form three-factor model which includes a liquidity proxy of market conditions which is then used to provide implicit prices. The model prices are then compared with observed market prices of credit default swaps to determine if swap rates adequately reflect market...

In this paper, we extend the debate concerning Credit Default Swap valuation to include time varying correlation and co-variances. Traditional multi-variate techniques treat the correlations between covariates as constant over time; however, this view is not supported by the data. Secondly, since...

Since the start of the financial crisis, various forms of securitization have been criticized for causing the problems experienced. The amount of Asset Backed Commercial Paper outstanding fell drastically in the middle of 2007 drawing our attention to this market. Our study focuses on the use of...