This paper provides an introduction to a form of financial innovation which is the relatively recent phenomenon of asset backed securisation (ABS). An overview of the related issues and importance of this trend towards asset backed securisation in the UK by financial institutions is provided....

It is widely believed that the stock-market oriented US financial system forces corporate managers to behave myopically relative to their Japanese counterparts, who operate in a bank-based system. We hypothesize that if US firms are more myopic that Japanese firms, then episodes of financial...

The valuation of debt and equity, reorganization boundaries and firm's The valuation of debt and equity, reorganization boundaries and firm's optimal dividend policies are studied in a framework where we model strategic interactions between debtholders and equityholders in a game-theoretic...

The paper offers theoretical and empirical insights into the links between banks and firms in industrial districts and to the way investment is financed. Theoretically, it is assumed that district-banking localism is embedded in the industrial districts� social context. District banks...

The paper offers theoretical and empirical insights into the links between banks and firms in industrial districts ans to the way way investment is financed. The conclusion is that the rise of district banking localism cannot be taken for granted and that industrial districts do not seem...

The bulk of Japanese exports and imports are denominated in dollars rather than Japan's local currency, the yen.The consequences of dollar invoicing depend importantly on whether Japanese companies hedge their dollar exposures. If Japanese companies are able fully to hedge their dollar exposures...

Costs of equity for individual firms are estimated in a Bayesian framework using several factor-based pricing models.