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Bank leverage constraints can emerge from regulatory capital requirements as well as from central bank collateral … unique collateral leverage channel, which cannot be replicated by standard capital requirements. Through this channel, banks … loans with tighter monitoring of firms. The collateral leverage channel can improve welfare beyond standard bank capital …
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The research aims to examine the difference between absence and presence life cycle stage in technology information digitalization (TID) as a form of open innovation in reducing information asymmetry. Furthermore, companies with asymmetric information prefer debt over equity. The study collects...
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This paper addresses the differences between the Modigliani-Miller [M&M] model (1958, 1963) and the Miles-Ezzell [M&E] model (1980, 1985). The main difference between these two models concerns the stochasticity of the free cash flows. While M&M assumes a strictly stationary process, M&E's...
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