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Outsourcing and Financing Decisions in Industry Equilibrium

Kanatas, George - 2016

In a competitive product market, firms that buy their input have lower profit volatility than they would have if they … were to make it. This effect on profit volatility is an important consideration in the firms' capital structure choices and … their own input and take advantage of the greater profit volatility resulting from internal production …

Persistent link: https://www.econbiz.de/10012999897

Bank Cost Efficiency and Credit Market Structure Under a Volatile Exchange Rate

Mamonov, Mikhail; Parmeter, Christopher F.; Prokhorov, Artem - 2022

We study the differential impact of exchange rate volatility on cost efficiency and market structure when banks have … cost efficiency estimates are both severely downward biased---by 30 percentage points on average---and generally not rank … dependence in the bank cost efficiency rankings constructed with the revaluations being kept or dropped. We relate this …

Persistent link: https://www.econbiz.de/10013289130

Measuring efficiency for volatile exposure to exchange rate risk base supported by Fuzzy DEA approach

Kuo, Hsien-chang; Wang, Lie-huey - In: The ICFAI university journal of financial risk … 6 (2009) 1, pp. 7-35

Persistent link: https://www.econbiz.de/10003837539

Technical Note : Options-Based Costing and the Volatility Portfolio

de Treville, Suzanne - 2017

insensitive to generate profit and increase competitiveness. Option-based costing combined with a volatility portfolio reveals …

Persistent link: https://www.econbiz.de/10012967005

Demand Volatility, Adjustment Costs, and Productivity : An Examination of Capacity Utilization in Hotels and Airlines

Butters, R. Andrew - 2017

Measures of productivity reveal large differences across producers even within narrowly defined industries. Traditional measures of productivity, however, will associate differences in demand volatility to differences in productivity when adjusting factors of production is costly. I document...

Persistent link: https://www.econbiz.de/10012967587

An Asset Pricing Theory of Volatility Tail Behavior

Bakshi, Gurdip - 2012

We contrast two different asset pricing models, where the pricing kernel either (i) increases in the volatility dimension, reflecting investors' aversion to volatility, or (ii) could be non-monotonic in volatility, reflecting heterogeneity in investors' beliefs. The two models yield opposite...

Persistent link: https://www.econbiz.de/10013115088

Fundamentals or Fads? Pipes, Not Punting, Explain Commodity Prices and Volatility

Fenton, Colin P. - 2011

In assessing drivers of commodity prices and volatility at this stage of the current super-cycle in commodities (year 12 of a projected 25), it is vital to understand that production cost is a fundamental. Moreover, marginal production costs are among the most powerful drivers of commodity...

Persistent link: https://www.econbiz.de/10013120803

Cross-Sectoral Variation in Firm-Level Idiosyncratic Risk

Clementi, Gian Luca - 2011

We estimate firm–level idiosyncratic risk in the U.S. manufacturing sector. Our proxy for risk is the volatility of the portion of growth in sales or TFP which is not explained by either industry – or economy–wide factors, or firm characteristics systematically associated with growth...

Persistent link: https://www.econbiz.de/10013125402

The Basic, Volatile, Sluggish and Stabilizing Forces in Aggregate Investment Behavior

Sheng, Yuming - 2019

The paper builds up a macro function of investment to capture various key determinants and explore the intricate determination mechanism of aggregate investment. It explicates the basic trend determinant of investment, locates the cause of investment volatility and identifies the magnifier of...

Persistent link: https://www.econbiz.de/10012899004

Using output-based allocations to manage volatility and leakage in pollution markets

Meunier, Guy; Montero, Juan-Pablo; Ponssard, Jean-Pierre - 2017

Output-based allocations (OBAs) are typically used in emission trading schemes to mitigate leakage in sectors at risk. Recent work has shown they may also help to stabilize prices in markets subject to supply and demand shocks. We extend previous work to simultaneously include both leakage and...

Persistent link: https://www.econbiz.de/10011602735