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Small and medium enterprises are becoming increasingly important for the creation and development of a modern, dynamic and knowledge-based economy. This is because of their capacity to promote entrepreneurship and entrepreneurial skills, and because of their ability to be flexible and adapt...
Persistent link: https://www.econbiz.de/10011109872
This article presents a comprehensive framework for valuing financial instruments subject to credit risk and collateralization. In particular, we focus on the impact of default dependence on asset pricing, as correlated default risk is one of the most pervasive threats to financial markets. Some...
Persistent link: https://www.econbiz.de/10011109891
Financial frictions may represent a severe obstacle for firms' innovative activity. This paper shows the existence and quantifies the effect of binding financial constraints on the innovation propensity of Italian companies. Once provided a rich baseline specification for innovation, I analyze...
Persistent link: https://www.econbiz.de/10011109985
This study sets out to discover the determinants of compensation of the chief executive officers in the banking …
Persistent link: https://www.econbiz.de/10011109999
In this paper we evaluate the resilience of the banking system of WAEMU to macroeconomic shocks. From banks data … banking sector as a whole in respond to changes in its macroeconomic environment, so that the risk of degradation of …
Persistent link: https://www.econbiz.de/10011110032
Peer-group mechanisms have been widely used by micro-credit institutions to minimize default risk. However, there are costs associated with establishing and maintaining liability groups. In the case when output is fully observable, we propose a dynamic individual lending mechanism. Assuming that...
Persistent link: https://www.econbiz.de/10011110061
This paper examines whether credit associations in Japanese regional lending markets compete on price now that Japanese financial authorities have replaced the convoy system of financial regulation with the principle of competition. Specifically, the effects of the market share of credit...
Persistent link: https://www.econbiz.de/10011110133
In the U.S. over the past 17 years competition among banks to provide home mortgages has failed. The reason is that there is a finite need for new housing starts at around 1.8 million homes per year and that there is a finite need for funds if house prices are to move in line with the CPI...
Persistent link: https://www.econbiz.de/10011110171
Proposal analysis and credit appraisal includes the examination of business and financial aspects with respective importance to measure economic, financial and technical feasibility of the project and repayment capacity of the borrowing firm. Such analysis has far reaching implication on the...
Persistent link: https://www.econbiz.de/10011110186
Offshore banking is a significant aspect of the financial environment in some Caribbean Islands. The objective of this … banks located in islands that do not host offshore banking. Balance sheets and income statements between 1993 and 2004 are … used to measure the level of competitiveness and efficiency of banking activity. The results show that domestic banks …
Persistent link: https://www.econbiz.de/10011110226