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Rao, Ananth - EconWPA - 2003

Listing of stocks on the stock exchange offers business firms several advantages such as diversification, liquidity, establishing a value for the firm etc. The present paper analyses stocks of six commercial banks (viz., Dubai Commercial Bank, Emirates Bank International, National Bank of Dubai,...

Persistent link: https://www.econbiz.de/10005413135

Initiative, Incentives and Soft Information. How Does Delegation Impact The Role of Bank Relationship Managers?

Liberti, Jose Maria - EconWPA - 2004

This paper empirically examines how changes in the hierarchical structure of a large organization can affect incentives. The empirical analysis exploits a change in the hierarchical structure of the Corporate Division of a private foreign commercial bank in Argentina between 1999 and 2001. Using...

Persistent link: https://www.econbiz.de/10005077034

Wealth Effects of Banks' Rights to Market and Originate Annuities

Cowan, Arnold R.; Howell, Jann C.; Power, Mark L. - EconWPA - 2002

We examine wealth effects, for banks and insurers, of bank rights to sell and underwrite annuities. The stock-price reactions to four court and regulatory decisions are consistent with expectations of bank gains at insurers' expense. Cross-sectionally, smaller, riskier insurers with higher...

Persistent link: https://www.econbiz.de/10005561610

INNOVATION AND VENTURE CAPITAL EXITS

SCHWIENBACHER, Armin - EconWPA - 2001

capitalist. The entrepreneur has incentives to distort the innovation strategy so as to make an IPO the preferred exit. We derive …

Persistent link: https://www.econbiz.de/10005413189

IPOs, Trade Sales and Liquidations: Modelling Venture Capital Exits Using Survival Analysis

Giot, Pierre; Schwienbacher, Armin - EconWPA - 2003

Using a detailed sample made up of more than 20,000 investment rounds, we analyze the time to ‘IPO’, ‘trade sale’ and … firms have the fastest IPO exits. Internet firms are also the fastest to liquidate, while biotech firms are however the …-backed firms first exhibit an increased likelihood of exiting to an IPO. However, after having reached a plateau, investments that …

Persistent link: https://www.econbiz.de/10005134683

DO MARKET LISTING AND SIZE ENTAIL BEHAVIOURAL DIFFERENCES?

BELLETANTE, Bernard; PARANQUE, Bernard - EconWPA - 2000

It is possible to study companies according to their methods of gaining access to finance, and in particular the stock market. Two approaches are possible. The first looks at the organisation of such access through the relationships built up by the company with suppliers of capital, enabling the...

Persistent link: https://www.econbiz.de/10005134889

Kreditvergabe der Banken an kleine und mittelständische

Lindner-Lehmann, Monika; Lehmann, Erik; Neuberger, Doris - EconWPA - 2005

Der vorliegende Beitrag fasst die Ergebnisse einer im Jahr 1997 getätigten schriftlichen Befragung deutscher Banken zu ihrer Kreditvergabe an kleine und mittelständische Unternehmen zusammen. Befragt wurden 1200 Firmenkundenbetreuer privater Großbanken, Sparkassen und Genossenschaftsbanken zu...

Persistent link: https://www.econbiz.de/10005134711

Collateral-Based Lending in Emerging Markets: Evidence from Thailand

Menkhoff, Lukas; Neuberger, Doris; Suwanaporn, Chodechai - EconWPA - 2005

This paper examines the role and determinants of collateral in emerging markets compared to mature ones. Analyzing a data set of 560 credit files of Thai commercial banks, we find that both the incidence and degree of collateralization are higher there than in developed markets. Thai banks use...

Persistent link: https://www.econbiz.de/10005134744

CONDITIONAL VOLATILITY OF MOST ACTIVE SHARES OF CASABLANCA STOCK EXCHANGE

Bouhadi, Abdelhamid El - EconWPA - 2003

Volatility plays an important role in the explanation of prices of securities and their derivatives as well as risk which are relative to them. The stock exchange of Casablanca constitutes a market meadow emergent of MEA zone for which the problem of volatility should not be underestimated for...

Persistent link: https://www.econbiz.de/10005413037

Long-Term Dependence Characteristics of European Stock Indices

LOS, CORNELIS A.; LIPKA, JOANNA M. - EconWPA - 2004

In this paper we show the degrees of persistence of the time series if eight European stock market indices are measured, after their lack of ergodicity and stationarity has been established. The proper identification of the nature of the persistence of financial time series forms a crucial step...

Persistent link: https://www.econbiz.de/10005413038