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Multiple but Asymmetric Bank Financing: The Case of Relationship Lending

Elsas, Ralf; Heinemann, Frank; Tyrell, Marcel - 2004

. However, theory does not tell us a lot about the economic rationale for relationship lending in the context of multiple bank …

Persistent link: https://www.econbiz.de/10010316084

Heterogeneous Multiple Bank Financing Under Uncertainty: Does it Reduce Inefficient Credit Decisions?

Bannier, Christina E. - 2005

Small and medium-sized firms typically obtain capital via bank financing. They often rely on a mixture of relationship and arm's-length banking. This paper explores the reasons for the dominance of heterogeneous multiple banking systems. We show that the incidence of inefficient credit...

Persistent link: https://www.econbiz.de/10010316088

The ignored performance measure

Laux, Volker - 2003

This paper studies a setting in which a risk averse agent must be motivated to work on two tasks: he (1) evaluates a new project and, if adopted, (2) manages it. While a performance measure which is informative of an agent´s action is typically valuable because it can be used to improve the...

Persistent link: https://www.econbiz.de/10010316230

Structural positions and risk budgeting: Quantifying the impact of structural positions and deriving implications for active portfolio management

Herold, Ulf; Maurer, Raimond - 2001

Structural positions are very common in investment practice. A structural position is defined as a permanent overweighting of a riskier asset class relative to a prespecified benchmark portfolio. The most prominent example for a structural position is the equity bias in a balanced fund that...

Persistent link: https://www.econbiz.de/10010316231

The long term impact of microfinance on income, wages and the sectoral distribution of economic activity

Tschach, Ingo E. - 2003

This paper analyses the long-term effects of improved small-scale lending, often provided by microfinance institutions set up with the support of development aid. The analysis shows that some common assumptions about microfinance are not true at all: First, it shows that the impact on income...

Persistent link: https://www.econbiz.de/10010316233

Finanzierungstheorie: Ein selektiver Überblick

Krahnen, Jan Pieter - 1998

selektive Überblick konzentriert sich auf zentrale Aspekte der Theorie und Empirie der Managementkontrolle bei asymmetrischer …

Persistent link: https://www.econbiz.de/10010316235

Internationale Rechnungslegungsnormen und Neue Institutionenökonomik

Wüstemann, Jens - 1999

eine komparative Rechnungslegungstheorie. Eine Besinnung auf die ökonomische Theorie ist – auch ausgelöst durch die … Prägung durch die ökonomische Theorie – und nicht vornehmlich durch die Anwender – erhielt.3 Es ist das Ziel des Aufsatzes …, einen Beitrag zu einer institutionenökonomischen Theorie der Rechnungslegung zum Zweck der Bestimmung von …

Persistent link: https://www.econbiz.de/10010316236

Avoiding the rating bounce: Why rating agencies are slow to react to new information

Löffler, Gunter - 2002

Rating agencies state that they take a rating action only when it is unlikely to be reversed shortly afterwards. Based on a formal representation of the rating process, I show that such a policy provides a good explanation for the empirical evidence: Rating changes occur relatively seldom,...

Persistent link: https://www.econbiz.de/10010316237

Integrated asset liability modelling for property casuality insurance: A portfolio theoretical approach

Dus, Ivica; Maurer, Raimond - 2001

theory and recognizes the stochastic nature of and the interaction between the underwriting and investment income of the …

Persistent link: https://www.econbiz.de/10010316238

Tackling boundary effects in nonparametric estimation of intra-day liquidity measures

Grammig, Joachim; Hujer, Reinhard; Kokot, Stefan - 2001

Persistent link: https://www.econbiz.de/10010316239