This paper empirically investigated the effect of share repurchases announcement on the Vietnam stock market. Using a sample of share repurchases for the period 2005-2014, this paper provided evidences that the cumulative abnormal return (CAR) of firms' stock repurchases gradually increased from...

We develop a general equilibrium model of banks' capital structure, featuring heterogeneous portfolio risk and an imperfectly elastic supply of bank equity stemming from financial market segmentation. In our model, equity is costly and serves as a buffer against insolvency. Banks are ex-ante...

We study a continuous-time dynamic capital structure model in which a firm can continuously adjust its capital structure. Unlike previous models, we assume heterogeneous equity and debt holders and segmented equity and debt markets. We show that the expected future equity and debt market...

Recent theoretical models of international trade with heterogeneous firms feature instantaneous adjustment of margins of exports to firm and market characteristics, and equality of distributions of margins of exports between new and incumbent exporters. By using the population of Slovenian firms...