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We analyze the impact of CDS trading on bank syndication activity. Theoretically, the effect of CDS trading is ambiguous: on the one hand, CDS can improve risksharing and hence be a more flexible risk management tool than loan syndication; on the other hand, CDS trading can reduce bank...
Persistent link: https://www.econbiz.de/10011196416
The real economy needs developed and efficient financial markets. Therefore, the experience of the financial crisis shows the need to re-design the rules of financial market participants and thus the prudential rules. But precisely because of the economic importance of the financial sector there...
Persistent link: https://www.econbiz.de/10011198549
One of the main challenges faced by developing countries is to stimulate investment for achieving higher growth rates. On the other hand, the capital flight phenomenon, which is defined as unrecorded capital outflows by the residents of a capital-scarce country, causes detrimental outcomes on...
Persistent link: https://www.econbiz.de/10011198605
The purpose of this study was to determine the impact on the corporate financial performance to the several financial indicators. Companies that are traded continuously in Borsa İstanbul-30 (BIST-30) between 2002-2013 periods were analyzed in this study for this purpose. Current ratio, earnings...
Persistent link: https://www.econbiz.de/10011240241
This paper sheds new light on the assessment of firm networks via multiple directorships in terms of corporate firm performance. Using a large sample of European listed firms in the period from 2003 to 2011 and system GMM we find a significant compensation effect on corporate firm performance...
Persistent link: https://www.econbiz.de/10011240255
We study how unconventional monetary policy affects the shape of the yield curve and, conversely, the predictive power of short-run yield curve dynamics for the policy event. Two types of unconventional monetary policy measures are analysed: i) announcements and actions related to extension of...
Persistent link: https://www.econbiz.de/10011240302
Eine wichtige Aufgabe der risikoorientierten Kundenbewertung (oder synonym des wertorientierten Credit Managements) ist, Risiko- und Ertragsinformationen zum Kunden in einer aussagekräftigen Kennzahl zu bündeln. Mit der Zeitdauer des Risikos (ZDdR) diskutiert der Beitrag eine Lösung, die das...
Persistent link: https://www.econbiz.de/10011241687
[Einleitung ...] Dieser Artikel hat das Ziel, die Bewertung von Unternehmen mit Hilfe der Monte-Carlo-Simulation darzustellen. Dazu wird im nächsten Abschnitt zunächst eine Übersicht über die gängigen Verfahren zur Unternehmensbewertung gegeben, bevor im dritten Abschnitt die Grundlagen der...
Persistent link: https://www.econbiz.de/10011241690
In this paper we introduce flexibility as an economic concept and apply it to the firm’ssecurity issuance decision and capital structure choice. Flexibility is the ability to makedecisions that one thinks are best even when others disagree. The firm’s management valuesflexibility because it...
Persistent link: https://www.econbiz.de/10011242147
Dans ce papier, nous proposons d’évaluer les scores d’efficience productive de vingt banques commerciales tunisiennes tout au long de la période s’étalant de 1990 à 2009. Le paysage bancaire local a été marqué, au cours de la période étudiée, par des changements importants suite...
Persistent link: https://www.econbiz.de/10011134494