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Persistent link: https://www.econbiz.de/10013108140
We use changes in Brazil's tax on capital inflows from 2006 to 2011 to test for direct portfolio effects and externalities from capital controls on investor portfolios. The analysis is structured based on information from investor interviews. We find that an increase in Brazil's tax on foreign...
Persistent link: https://www.econbiz.de/10009579243
We use changes in Brazil's tax on capital inflows from 2006 to 2011 to test for direct portfolio effects and externalities from capital controls on investor portfolios. The analysis is structured based on information from investor interviews. We find that an increase in Brazil's tax on foreign...
Persistent link: https://www.econbiz.de/10013103299
More than 6 years has passed since the 2001 Financial Crisis & Banking Crisis in Turkey. During the analysis of this paper many people were asking when the next crisis will be hitting Turkey. 2008-9 Mortgage Crisis (Banking Crisis) in the West has some similarities to the Turkish Banking crisis....
Persistent link: https://www.econbiz.de/10013158180
The study covers several aspects of FDI in the country, ranging from FDI patterns and FDIdrivers to FDI relations, growth and exports, taking into account several factors such as theformation of raw equities, macroeconomic stability, institutional capital and human capital.In recent years, the...
Persistent link: https://www.econbiz.de/10013219825
A large discrepancy exists on the use of the investment–cash flow sensitivity as a measure of financing constraints of firms. We examine this discrepancy by considering business group affiliated firms in Pakistan. The study includes 58 group affiliated firms and 32 non-group affiliated firms...
Persistent link: https://www.econbiz.de/10012861026
the individual stock market investor's performance and their decision making while trading. A questionnaire was used for … information asymmetry, financial literacy and risk aversion have a positive significant effect on investment decision. While … personal values have a negative and insignificant effect on investment decision. Information Asymmetry and Financial literacy …
Persistent link: https://www.econbiz.de/10012913114
We develop a dynamic investment options framework with optimal capital structure and analyze the effect of debt maturity. We find that in the absence of financing constraints short-term debt maximizes firm value. In contrast with most literature results, in the absence of constraints, higher...
Persistent link: https://www.econbiz.de/10011716006
This paper argues that because of the irreversibility and uncertainty associated with Build-Operate-Transfer (BOT) infrastructure projects, their financial evaluation should also routinely include the determination of the value of the option to defer the construction start-up. This ensures that...
Persistent link: https://www.econbiz.de/10014160058
This paper analyzes to what extent the rejection of the investment dynamics implied by the Euler equation model with quadratic and symmetric adjustment costs can be attributed to the fact that the investment behavior of some firms in some periods is financially constrained by the availability of...
Persistent link: https://www.econbiz.de/10013064394