Showing 1 - 10 of 18,640
minority bank (MB) policies. Our theory apparatus synthesizes Vasicek's bond pricing model, and KMV Moody loan portfolio model … increased capital, and brokered deposits, militate against altruistic motives. This implies that for a given amount of altruism …, MBs are better served by tactical portfolio allocation in an expanded investment opportunity set. We apply the theory to …
Persistent link: https://www.econbiz.de/10012974983
Persistent link: https://www.econbiz.de/10003387636
Persistent link: https://www.econbiz.de/10000933956
Persistent link: https://www.econbiz.de/10001749188
Persistent link: https://www.econbiz.de/10003871460
Persistent link: https://www.econbiz.de/10003425366
This paper characterizes the optimal first-price auction (FPA) and second-price auction (SPA) for selling rights, contracts, or licenses that involve ensuing payoff uncertainty for the winning bidder. The distribution of the random payoff is common knowledge, except that bidders have private...
Persistent link: https://www.econbiz.de/10011374400
Persistent link: https://www.econbiz.de/10011450150
Persistent link: https://www.econbiz.de/10011407647
As much as 12% of the daily volume on the New York Stock Exchange, and similar volumes on other major world exchanges, involves sales by institutional investors to brokers through blind portfolio auctions. Such transactions typically take the form of a first-price sealed-bid auction in which the...
Persistent link: https://www.econbiz.de/10013119444