This paper reports the findings of a nation wide suiVey of American bankers. The SUIVey asked bankers to rank from a Jist the three most important factors a business firm considers when selecting a bank to conduct its day to day business. The paper presents the initial findings and then in a...

This paper considers the path from formation to failure of two Internet start-up companies in the context of the work of numerous academic researchers in the field of corporate financial distress and bankruptcy. In the 1990s, several authors found evidence that small, young companies are...

The relationship between risk and return is fundamental to financial asset pricing. Many commonly used financial asset pricing models require an annualised risk coefficient. Using the fundamental asumption that consecutive price changes are independent, annualised risk can be easily calculated...

The three pillars of Basel II introduce new capital ratios, new supervisory procedures, and demand better disclosure to ensure effective market discipline in both the equity and debt markets. Included in these requirements, for the first time, is the necessity for financial institutions to...

We reformulate and extend the standard AS-AD growth model of the Neoclassical Synthesis (stage I) with its traditional microfoundations. The model retains an LM curve in the place of a Taylor interest rate rule, exhibits sticky wages as well as sticky prices, myopic perfect foresight of current...

This article examines the behaviour of a consumer diagnosed with diabetes. It is shown that the medical treatment of the disease creates incentives that make diabetic's consumption and wieght display cyclical patterns. One implication is that labour supply can be cyclical as well.

In May of 1994 (and on two subsequent dates), the Sydney Futures Exchange introduced futures contracts on slected issues of common stock. These new contracts, known as individual share futures (ISF's), represent a unique type of derivative product. This paper examines the impact of the...