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The Warsaw Stock Exchange is one of Europe’s largest exchanges by the number of IPOs, although it retains features of a market in post-transition countries, including a relatively small size, shallowness and a weak institutional framework. In this study, we use a large dataset to explore...
Persistent link: https://www.econbiz.de/10011107655
The standard measures of distress risk ignore the fact that firm defaults are correlated and that some defaults are more likely to occur in bad times. We use risk premium computed from corporate credit spreads to measure a firm’s exposure to systematic variation in default risk. Unlike...
Persistent link: https://www.econbiz.de/10011259646
We compute some indicators (zero-trade, turnover ratio, Amihud price impact, and Roll bid-ask spread) to examine the liquidity conditions of corporate bonds traded on the main Italian retail bond markets from January 2010 to June 2013. In order to compare market liquidity for identical...
Persistent link: https://www.econbiz.de/10011188478
The welfare state was created after 1950 with counterproductive mechanisms and this caused high inflation and high unemployment and stagnating growth by 1970, called stagflation. Since 1970 governments redressed the welfare state but did not succeed in finding workable mechanisms. They rather...
Persistent link: https://www.econbiz.de/10011108214
supported in the cases, and review the effectiveness of the informal insurance arrangements that are observed. We close with the …
Persistent link: https://www.econbiz.de/10011108326
provisions. If the private side of the system is based, exclusively or mainly, on the insurance pooling, is there any substantial … difference between Europe and Us, with respect to future challenges. Is insurance pooling really different from pay …
Persistent link: https://www.econbiz.de/10011108591
(1) The basic problem in OECD countries is the tax void. (2) A tax system with an exemption is more transparant than a system with a tax credit. (3) Exemption should be at the level of the net minimum wage so that such workers can work at net = gross. (4) A tax credit is a sufficient but not a...
Persistent link: https://www.econbiz.de/10011109700
a new insurance product in rural China. Specifically, we conduct a set of insurance games with a random subset of … farmers. Our findings show that playing insurance games improves insurance take-up in real life by 48%. Exploring the … probability of disasters, or learning of insurance benefits, but is driven mainly by the experience acquired in playing the …
Persistent link: https://www.econbiz.de/10011109780
The primary aim of this paper to evaluate the cost of deposit insurance premium and assess moral hazard effect in the … technical inefficiency. The findings of the research indicate there is a positive association between insurance coverage premium … insurance premium to risk based insurance premium policy. …
Persistent link: https://www.econbiz.de/10011110389
insurance towards "adequacy, sustainability and safety" it develop a convergence in their forms reformed systems in which public …
Persistent link: https://www.econbiz.de/10011110402