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This paper analyzes the strategic role of the temporal dimension of loan commitments in a model of competitive banks with imperfect competition in the borrower's industry.
Persistent link: https://www.econbiz.de/10005572194
This paper develops a signaling model to investigate a firm's optimal financial response to corporate income taxation under informational asymmetries. The model obtains informationally constrained efficient equilibria in which a firm's debt level and inside equity position jointly serve as a...
Persistent link: https://www.econbiz.de/10005572293
This paper analyzes the transmission mechanisms of monetary policy in a general equilibrium model of securities markets and banking with asymmetric information. Banks' optimal asset/liability policy is such that in equilibrium capital adequacy constraints are always binding. Asymmetric...
Persistent link: https://www.econbiz.de/10005572661
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We examine the impact of liquidity shocks by exploiting cross-bank liquidity variation induced by unanticipated nuclear tests in Pakistan. We show that for the same firm borrowing from two different banks, its loan from the bank experiencing a 1 percent larger decline in liquidity drops by an...
Persistent link: https://www.econbiz.de/10005573714
Persistent link: https://www.econbiz.de/10005574138
Starting from the need to optimize the financial structure of the enterprise, the article aims to review a few concepts related to financial structure and bankruptcy risk, the presentation of the bankruptcy risk analysis based on assets balance sheet, liquidity ratios and last, but not least,...
Persistent link: https://www.econbiz.de/10008556643
From all the pressures applied on the economic development by the global financial crisis, the most difficult to evaluate is the duration of this process, forecasted at the end of 2009. The economists debate on the concept of “targeting inflation”, considered by the participants that...
Persistent link: https://www.econbiz.de/10008556645
The creation of an optimal financial structure of the invested capital will allow the act of minimizing the balanced medium cost of the capital and implicitly the act of maximizing the enterprise value. As a result, there exists a interdependence between the capitals’ costs – financial...
Persistent link: https://www.econbiz.de/10008556649