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Persistent link: https://www.econbiz.de/10011790739
This paper provides original evidence from institutional investors that political uncertainty during presidential elections greatly affects investment. Using U.S. institutional ownership data from 1981 to 2010, we find that institutions significantly reduce their holdings of common stock by 0.76...
Persistent link: https://www.econbiz.de/10010818979
Sufficient solvency of a pension insurance company responsible for defined-benefit pensions guarantees that the …
Persistent link: https://www.econbiz.de/10008516093
absence of deposit insurance, the bank’s limited liability option creates an incentive problem between the bank and its … relationships also decreases and the bank will have to raise its equity ratio. With deposit insurance, regulators should set higher …
Persistent link: https://www.econbiz.de/10005648834
theoretical background for the regulation of financial institutions, especially insurance and banking companies, and, finally …
Persistent link: https://www.econbiz.de/10005648868
In this paper, I develop a model that addresses the links between banks’ liquidity outlook and their incentives to take … credit risk. Assuming that both bank-specific liquidity shocks and credit losses are necessary to provoke bank runs, the …-specific liquidity shock declines. This suggests that the benign liquidity outlook prevailing prior to the subprime crisis may have …
Persistent link: https://www.econbiz.de/10005648970
focus of the analyses is on continuity arrangements, operational stability, liquidity requirements, liquidity economising …
Persistent link: https://www.econbiz.de/10008774214
focus of the analyses is on liquidity requirements, settlement speed, gridlock situations, gridlock resolution methods …, liquidity economising, systemic risk and the impact of shocks on system performance as well as network analysis and modelling of …
Persistent link: https://www.econbiz.de/10008774230
liquidity and market efficiency. The one-day program consisted of an opening speech, six presentations, including three keynotes …
Persistent link: https://www.econbiz.de/10011414459
We study the basic economic problem of choice between long-term and short-term commitments under a general characterization of uncertainty (aggregate uncertainty). When contingencies are contractible, a perfect market of Arrow-Debreau contingent claims implements the social optimum. When...
Persistent link: https://www.econbiz.de/10005207147