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Persistent link: https://www.econbiz.de/10003925085
We characterize the evolution over time of a network of credit relations among financial agents as a system of coupled stochastic processes. Each process describes the dynamics of individual financial robustness, while the coupling results from a network of liabilities among agents. The average...
Persistent link: https://www.econbiz.de/10012463991
We characterize the evolution over time of a network of credit relations among financial agents as a system of coupled stochastic processes. Each process describes the dynamics of individual financial robustness, while the coupling results from a network of liabilities among agents. The average...
Persistent link: https://www.econbiz.de/10013149415
Persistent link: https://www.econbiz.de/10009758022
shareholders. These players know that privatization increases the efficiency of a firm, but only the management of the firm knows …
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Persistent link: https://www.econbiz.de/10008655683
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We study economies with multiple assets that are valued both for their return and liquidity. Exchange occurs in …, potentially generating multiple equilibria with different liquidity. We discuss implications for asset pricing and for monetary …
Persistent link: https://www.econbiz.de/10014213763
Persistent link: https://www.econbiz.de/10009550151
This paper investigates the effects of board of director collusion on managerial incentives and firm values. Recent academic research hints at the social network of board of directors as an important conduit for coordinating corporate governance policies, such as managerial pay, and curbing...
Persistent link: https://www.econbiz.de/10011734901