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presents some of the major concepts, principles, analytical methods and tools useful for making investment and finance … estate terminology presented in the earlier course if they are not already familiar with basic real estate finance and …
Persistent link: https://www.econbiz.de/10009432644
General financial models have become workhorse models in the fields of macroeconomics and finance. These models have … and finance is the well accepted fact that models with a representative agent and without financial frictions yield … fields of macroeconomics and finance in the future depends upon the frontier research in general equilibrium today. Over the …
Persistent link: https://www.econbiz.de/10009438435
This dissertation consists of three essays concerning entrepreneurship, venture capital and monetary economics. It takes time for a venture capitalist to find a project in which to invest, to implement projects and to cash out. Further, capitalists and entrepreneurs are uncertain about whom they...
Persistent link: https://www.econbiz.de/10009438446
The dissertation consists of four chapters. The first chapter presents a model that incorporates product market competition into the standard neoclassical framework. The model explains why value-maximizing firms conduct mergers that appear to lower shareholder value. In a Cournot setting, the...
Persistent link: https://www.econbiz.de/10009438450
Managers must often trade off cash flow objectives with concerns about financial reporting when they structure economic activities. I examine whether managers consider voluntary disclosure, combined with the structuring decision, to alter this tradeoff by enhancing the transparency or...
Persistent link: https://www.econbiz.de/10009438464
The first chapter assesses the efficiency and performance of 401(k) investment options offered by a large group of US employers. We show that the majority of plans is efficient compared to market benchmark indexes. Three performance measures underscore the fact that these plans tend to offer a...
Persistent link: https://www.econbiz.de/10009438468
Most discrete time literature uses the beta that results from a regression of an asset's simple returns on various factors to quantify risk. The departing point for this thesis is the consistent use of log-returns. When log-returns are considered, the relevant measure of systematic risk becomes...
Persistent link: https://www.econbiz.de/10009438502
, firms finance investments using defaultable debt as well as equity issuance, and they are subject to standard profitability …
Persistent link: https://www.econbiz.de/10009438551
I show that relative levels of aggregate consumption and personal oil consumption provide anexcellent proxy for oil prices, and that high oil prices predict low future aggregate consumptiongrowth. Motivated by these facts, I add an oil consumption good to the long-run risk model of Bansal and...
Persistent link: https://www.econbiz.de/10009438584
This dissertation documents the positive relationship between financial distress and equity issuance and shows that dilution explains the low stock returns of distressed firms. When the cross-section of firms is sorted by degree of distress, the value-weighted mean of the monthly net issuance...
Persistent link: https://www.econbiz.de/10009438585