Необходимость расширенного воспроизводства на предприятии требует значительных финансовых вливаний, которые зачастую можно получить только из внешних...

Статья посвящена формированию нового арсенала инструментов для финансирования инновационных организаций. Отмечено, что в отличие от традиционных финансовых...

Повышение конкурентоспособности и обеспечение экономического развития Российской Федерации на инновационной основе предполагает решение проблемы...

This paper examines the optimal consumption and investment problem for a "large" investor, whose portfolio choices affect the instantaneous expected returns on the traded assets.

This paper focuses on the potential effects of small fluctuations in investors' subjective preferences (specifically, their discount factors and attitudes towards risk) on the volatility equity prices. We briefly summarize some of the arguments and evidence regarding the fluctuations in...

This paper solves numerically the intertemporal consumption and portfolio choice problem of an infinitely-lived investor who faces a time-varying equity premium.

In this paper, we analyze how large institutions differ from other investors and the implications that these differences have for stock returns, market liquidity, and corporate governance. We find that large institutional investors -- a category including all managers with greater than $100...

If household portfolios are constrained by borrowing and short-sales restrictions, or by fixed costs of participating in risky asset markets, then alternative retirement savings systems may affect household welfare by relaxing these constraints. This paper uses a calibrated partial-equilibrium...