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Financial fragility in open-ended mutual funds : the role of liquidity management tools
Dunne, Peter G.; Emter, Lorenz; Fecht, Falko; Giuliana, … - 2023
We study the role of liquidity management tools (LMTs) in mitigating financial fragility in investment funds during the …
Persistent link: https://www.econbiz.de/10014230325
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Debt Default, Recovery and Resolution in a Pandemic : What to Expect in the New Normal
Zaveri, Bhargavi - 2020
This article critically analyses three sets of developments in India in connection with standstills and forbearance during the pandemic. First, the moratorium imposed by the Reserve Bank of India (RBI), as the banking regulator, on the recovery of debt by banks and NBFCs. Second, the temporary...
Persistent link: https://www.econbiz.de/10014091700
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Chapter 8 : Spain
Báez Moreno, Andrés; Navarro, Aitor - 2020
This book chapter analyses the policy rationale and interpretation issues arising from 1) the general interest deduction limitation rule envisaged in the Spanish Corporate Income Tax Act (article 16 CITA), which is aligned with the BEPS action 4 proposal to limit base erosion involving interest...
Persistent link: https://www.econbiz.de/10014093246
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Excess Sensitivity and Asymmetries in Consumption : An Empirical Investigation
Garcia, René; Lusardi, Annamaria; Ng, Serena - 2008
Most empirical studies on liquidity constraints classify a consumer as being constrained on the basis of a single … indicator such as the asset to income ratio. In this analysis, we model the probability that a consumer faces liquidity … misclassification. Our results based on data from the CEX confirm that liquidity constrained consumers are excessively sensitive to …
Persistent link: https://www.econbiz.de/10014093522
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The Impact of Advertising and R&D on Bankruptcy Survival : A Double-Edged Sword
Jindal, Niket - 2021
Advertising and research and development (R&D) benefit firms by increasing sales and shareholder value. However, when a firm is in bankruptcy, the cumulative effects of its past advertising and R&D can be a double-edged sword. On the one hand, they increase the firm’s expected future cash...
Persistent link: https://www.econbiz.de/10014095250
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Leaving Your Tailings Behind : Environmental Bonds, Bankruptcy and Waste Cleanup
Aghakazemjourabbaf, Sara; Insley, Margaret C. - 2020
This paper studies the impacts of an environmental bond, which fully covers waste cleanup costs, on a mining firm's optimal actions over the full life cycle of a mine, when bankruptcy may shift cleanup costs to the government. A firm's stochastic optimal control problem is described by an HJB...
Persistent link: https://www.econbiz.de/10014095886
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The Welfare Effects of Liquidity Constraints
Jappelli, Tullio; Pagano, Marco - 2008
We analyze the welfare implications of liquidity constraints for households in an overlapping generations model with … growth. In a closed economy with exogenous technical progress, liquidity constraints reduce welfare if the economy is …
Persistent link: https://www.econbiz.de/10014206580
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The Welfare Effects of Liquidity Constraints
Jappelli, Tullio; Pagano, Marco - 2008
We analyze the welfare implications of liquidity constraints for households in an overlapping generations model with … growth. In a closed economy with exogenous technical progress, liquidity constraints reduce welfare if the economy is …
Persistent link: https://www.econbiz.de/10014206582
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Infrequent Bankruptcy, Asymmetric Information, and Excess Labor in the Russian Economy
Brown, J. David - 1999
Even experienced, profit-maximizing managers in Russia may conduct less restructuring than otherwise, since the economy appears to be in an equilibrium in which each firm releases unproductive workers but retains excess productive workers because other firms do. If firms release their excess...
Persistent link: https://www.econbiz.de/10014206647
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Personal Insolvency Law in England and Wales : Debtor Advice, Debtor Education and the Credit Environment: Volume II - Appendices
Tribe, John Paul; Cocks, Leyanda - 2009
This Personal Insolvency Project (PIP) research report is divided into three parts and two volumes. The three substantive parts are set out in Volume I and relate to the research areas of: (1) debtor advice, (2) debtor education, and, (3) the credit environment. Volume II contains all of the...
Persistent link: https://www.econbiz.de/10014208565