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Persistent link: https://www.econbiz.de/10010481780
Investing in micro-loan market has become one of the most famous instrument in alternative finance due to the fact that its rate of return is comparable to other risky financial instruments and it places investors in the position of philanthropists and induce “enjoyment”. In terms of...
Persistent link: https://www.econbiz.de/10013011466
In preceding research, an assumption about the independence of interpurchase time was made. Interpurchase time was assumed to be extracted independently from a particular distribution. However, autocorrelation is observed in interpurchase time and about 30% of the individuals' interpurchase time...
Persistent link: https://www.econbiz.de/10013043895
Zombie mortgages and abandoned properties are costly problems for cities and counties across the country. The term “zombie mortgage” is meant to, and hopefully does, evoke images of undead mortgages that are nearly impossible to eliminate. In the legal literature, the term is used to...
Persistent link: https://www.econbiz.de/10012956047
Theoretical research on internal capital markets suggests an important role for internal information quality in the capital allocation process within conglomerates. Direct empirical evidence, however, has been sparse, largely because informational frictions inside firms are difficult for...
Persistent link: https://www.econbiz.de/10012943129
This paper compares two attributes of a deferred tax liability (DTL) that arise from differences in book and tax depreciation methods. The first attribute is the effect of the DTL on the market value of the firm. The second is the length of time between when the asset is placed into service and...
Persistent link: https://www.econbiz.de/10014075797
Economic theory has long argued that when risk-averse investors are price-takers, a tax on risky returns (with full tax benefit for losses) will cause investments in risky assets to increase because the tax reduces after-tax risk. We extend this result to a setting with a fixed supply of risky...
Persistent link: https://www.econbiz.de/10013051137
Persistent link: https://www.econbiz.de/10003988314
This paper compares two attributes of a deferred tax liability (DTL) that arise from differences in book and tax depreciation methods. The first attribute is the effect of the DTL on the market value of the firm. The second is the length of time between when the asset is placed into service and...
Persistent link: https://www.econbiz.de/10003754870
We incorporate fixed and variable costs into a cash flow based CAPM to investigate how each type of cost affects the cost of equity capital. A decrease in fixed costs always reduces cost of capital. With positive fixed costs, a decrease in the variable cost rate reduces cost of capital despite...
Persistent link: https://www.econbiz.de/10012837093