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La metodología de rating “through the cycle”: aplicación para la estimación de ratings soberanos
Pena, Alejandro; Rodríguez, Analía - 2008
This paper analyses the through-the-cycle rating concept; basically, we try to specify its main characteristics, focusing on the differences with point-in-time ratings. We also discuss the effects of this methodology on the prediction power of default probabilities, on the stability of those...
Persistent link: https://www.econbiz.de/10015227150
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Il finanziamento degli investimenti in R&S. Gli effetti sulla crescita e sulla struttura finanziaria
Garofalo, Giuseppe; Morganti, Patrizio - 2010
The financing of innovation impacts on economic growth. What’s, among bank-based or market-based system, the best organizational form? The paper supports the view that both forms have to be merged into a unique approach (law and finance view) embracing not only the overall quality of the...
Persistent link: https://www.econbiz.de/10015222144
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The Institutional Framework and Decision Making in Sudan
Mohamed, Issam A.W. - 2010
The study here reviews the institutional structure of the Sudanese government. Truly, though it is stigmatized as totalitarian, the structure is phenotypically perfect. Ministry of Ministries council is supposed to cater for analyzing data concerning ministries performance, drawing strategic...
Persistent link: https://www.econbiz.de/10015229131
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Diversified Syndicate Structure and Loan Spreads for Non-U.S. Firms
Gopalakrishnan, Balagopal; Mohapatra, Sanket - 2019
Syndicated lending allows participant banks to offer larger loans for longer tenors. A diversified syndicate structure, which includes both domestic and foreign banks, can aid in reducing their risk and alleviate information asymmetry in loan contracting. Using cross-country data on syndicated...
Persistent link: https://www.econbiz.de/10015265290
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Financial Experts, Asset Prices and Reputation
Rudiger, Jesper; Vigier, Adrien - 2013
We analyze how financial experts influence asset prices in a sequential trading model. In the model, an expert of unknown ability sends a report about asset values to traders, who then observe a signal about the expert's type. All information about the expert's ability is private to traders and...
Persistent link: https://www.econbiz.de/10015239858
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Managing Financial Expertise
Asano, Koji - 2021
We study credit markets in which lenders can invest in financial expertise to reduce the cost of acquiring information about underlying collateral. If the pledgeability of corporate income is low, information acquisition enhances liquidity, but lenders reduce expertise acquisition because of the...
Persistent link: https://www.econbiz.de/10015242608
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Pundits and Quacks: Financial Experts and Market Feedback
Rudiger, Jesper; Vigier, Adrien - 2014
By choosing whether or not to follow a financial expert's advice, a privately informed trader implicitly screens the ability of this expert. We explore the performance of the resulting feedback mechanism. In the medium run, feedback may altogether break down, enabling experts of low ability to...
Persistent link: https://www.econbiz.de/10015243041
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Information Transmission in Emerging Markets: The Case of a Unique Financing Instrument
Siddiqi, Hammad - 2008
Information flows are necessary for well-functioning financial markets. However, in many emerging markets, the legal and institutional preconditions for proper information flow are not met. How do such markets respond? We argue that they respond by developing innovative information transmission...
Persistent link: https://www.econbiz.de/10015249355
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Demand and supply determinants of loan contract terms in small business lending
Kirschenmann, Karolin - 2010
und Laufzeit. Im Falle von hoher Informationsasymmetrie kann dies durch die Theorien zum Signalisieren erklärt werden … einen Kredit, der in Lokalwährung nachgefragt wurde, eher in EUR vergibt, wenn sie mehr Refinanzierung in EUR und besonders … Institutionen, die Informationsasymmetrien zu reduzieren vermögen, wichtig sind, um für kleine Firmen den Zugang zu Kredit zu …
Persistent link: https://www.econbiz.de/10009476202
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大学中退の逐次意思決定モデルの構造推定
Murasawa, Yasutomo - 2024
Using the four-year academic records of 301 male students who enrolled in a specific department at a certain university in April 2016, this paper estimates the structural parameters of a sequential decision model of college dropout and conducts a counterfactual analysis. A well-known method for...
Persistent link: https://www.econbiz.de/10015213627