Die lateinamerikanischen Währungskrisen lenkten erst kürzlich wieder das Augenmerk auf die Gefahren wechselkursbasierter Stabilisierungen (WKBS). Dies sind Inflationsstabilisierungsprogramme, die den nominalen Wechselkurs als vorrangiges geldpolitisches Instrument einsetzen. Die vorliegende...

Indian firms lead the pack of emerging market investors in Germany, with about 188 subsidiaries providing employment to close to 23,500 people. This article provides an update on trends in Indian investment in Germany and examines the performance of Indian subsidiaries.

We quantify the effect of financial leverage on stock return volatility in a dynamic general equilibrium economy with debt and equity claims. The effect of financial leverage is studied both at a market and a firm level where the firm is exposed to both idiosyncratic and market risk. In a...

This thesis investigates the determinants of the use of debt and leasing in the UK using a comprehensive measure of debt and leases, in recognition of the link between lease and debt-type financing decisions, based on financial contracting theory and the tax advantage hypothesis. The design of...

Lally (2007) concludes that regulators must esimate the risk-free rate as the yield-to-maturity on Government debt with a term-to-maturity equal to the regulatory period, to ensure that the present value of expected cash flows equals the investment base. The analytics behind this conclusion...

This thesis comprises of three essays. The first essay is titled 'Do Acquiring Firms Manage Earnings?' and is co-authored with Professor Anand M. Vijh. The second essay is titled 'Do Firms Have a Target Leverage? Evidence from Credit Markets' and is joint work with Professors Anand M. Vijh and...

ENGLISH ABSTRACT: The importance of market microstructure in determining the success of a bond market inallocating financial resources depends on the degree to which the microstructure elements likeliquidity, efficiency and volatility have been designed to determine the proper price at...

Bond Volatility Transmissions Between United States and European MarketsSeth KulmanFaculty Sponsor: Gordon Dash, Finance and Decision SciencesRecent events have illustrated the degree of connection between the world’s economies. Economic events occurring in one country are felt in countless...

The purpose of this thesis is to investigate the relationship between the annualised volatility and correlation of G7 ten-year bond returns for the period July 1992 to June 1998 and the effects that such a relationship has on portfolio diversification. The stock market crash of 1987 and the...