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Persistent link: https://www.econbiz.de/10011618182
Conventional theories of capitalism are mired in a deep crisis: after centuries of debate, they are still unable to tell us what capital is. Liberals and Marxists both think of capital as an 'economic' entity that they count in universal units of ‘utils’ or 'abstract labour', respectively....
Persistent link: https://www.econbiz.de/10011646688
The thesis offers a new framework for inflation as a process of restructuring. Contrary to existing theories of inflation, which tend to take structure and institutions as given for the purpose of analysis, we argue that inflation could be understood only in terms of ongoing structural and...
Persistent link: https://www.econbiz.de/10011646704
international property, increased levels of debt, incorporating property development activities via use of stapled securities … 1996-2006, the changing risk profile of LPTs is assessed. Since 2003, while the "expectation" was for higher LPT risk … levels, there has been no evidence of increased levels of LPT risk, particularly in the international LPT and stapled …
Persistent link: https://www.econbiz.de/10009482067
risk and returns from capital projects using standard capital asset pricing method. To demonstrate how the present values … of future cash flows are influenced by discount rates when the debt-to-equity capital structure ratio is varied between 0 … and 2.5 debt-to-equity. The breakeven sensitivity was also conducted in relation to different gross margin ratios of …
Persistent link: https://www.econbiz.de/10012664361
Recently there have been a number of recommendations to increase the role of subordinated debt (SND) in satisfying bank … capital requirements as a preferred means to discipline the risk-taking behavior of systemically important banks. One such …
Persistent link: https://www.econbiz.de/10010397404
The risk of repudiation plays a central role in the size and nature of international capital flows. In this paper the … author addresses the question of whether, in a world of international capital flows with risk of default, strategic … international debt in which only governments borrow and lend internationally and decentralized arrangements in which individuals …
Persistent link: https://www.econbiz.de/10010397500
Several recent studies have recommended greater reliance on subordinated debt as a tool to discipline bank risk taking …. Some of these proposals recommend using sub-debt yield spreads as triggers for supervisory discipline under prompt … analysis of the relative accuracy of various capital ratios and sub-debt spreads in predicting bank condition, measured as …
Persistent link: https://www.econbiz.de/10010397568
Are banks that fail in banking panics the riskiest ones prior to the panics? The free banking era in the United States provides useful data to examine this question because the assets held by the banks were traded at the New York Stock Exchange. The authors estimate the ex ante riskiness of a...
Persistent link: https://www.econbiz.de/10010397627
Persistent link: https://www.econbiz.de/10003352989