Treasury stock and firm market value using a modified Tobin's q are modeled by using a firm utility preference function and a quadratic constraint function. The choice of the quadratic form is based on an econometric analysis of the relationship of q to T, the amount of treasury stock held by...

The recent macro monetary policy debate over the existence of bank lending channels focuses on short-term bank borrowing versus short-term non-bank borrowing by firms. The approach is macro using aggregate manufacturing corporation data from the QFR of the US Census Bureau. In the present paper,...

Micro industrial firm panel data on short-term and long-term borrowing (term debt structure) for annual and quarterly time periods over the years 1995-2008 are used to test an insulation hypothesis and a related volatility hypothesis. The former test uses a regression model relating the ratio of...

Using traditional Cournot demand concepts, the effect of an increase in export demand on the price and domestic quantity demanded for a given product under different market structures and production cost structures is examined. In general, an increase in the product price will result in a...