This paper examines the impact of international debt shifting and exchange rate uncertainty on investment and capital structure decisions of foreign subsidiary. We find that debt shifting induces earlier investment, earlier default, higher leverage, and larger ex ante firm value of foreign...

The 'environmental Kuznets curve' (EKC) refers to an inverted-U-shaped relationship between some pollutant level and per capita income, i.e., the environmental quality deteriorates at early stages of economic growth and subsequently improves at a later stage. Since the early 1990s, a...

Intro -- CONTENTS -- Preface -- Program -- Risk Sensitive Investment Management with Affine Processes: A Viscosity Approach M. Davis and S. Lleo -- Keywords: -- 1. Introduction -- 2. Analytical Setting -- 2.1 Overview -- 2.2 Factor Dynamics -- 2.3 Asset Market Dynamics -- 2.4 Portfolio Dynamics...

Intro -- CONTENTS -- PREFACE -- PROGRAM -- The Distribution of Returns at Longer Horizons -- 1. Introduction -- 2. Preliminary Evidence on Scaling and Accumulating i.i.d. Variates -- 3. Combining the Accumulation of i.i.d. Variates with Scaling -- 4. Estimating the Scaling Coefficients c, γ --...