Home bias and international risk sharing
... Considering income and consumption risk sharing together it seems that equity assets and FDI liabilities are conducive for risk sharing, but the empirical evidence for such a breakdown is not strong, in particular for consumption risk sharing. ...
... Considering income and consumption risk sharing together it seems that equity assets and FDI liabilities are conducive for risk sharing, but the empirical evidence for such a breakdown is not strong, in particular for consumption risk sharing. ...
Corporate Finance
... during the period of the analysis. It chose not to, and used the cash for acquisitions (Capital Cities/ABC) and ill fated expansion plans (Go.com). While the company may have flexibility to set its dividend policy a decade ago, its actions over that decade have frittered away this flexibility. Botto ...
... during the period of the analysis. It chose not to, and used the cash for acquisitions (Capital Cities/ABC) and ill fated expansion plans (Go.com). While the company may have flexibility to set its dividend policy a decade ago, its actions over that decade have frittered away this flexibility. Botto ...
Capital Structure Composition and Solvency
... All revenue and expense items are expected to increase by 10 percent, except for depreciation, which remains the same All expenses are paid in cash as they are incurred Year 2 ending inventory is projected at $150,000 By the end of Year 2, predicts notes payable of $50,000 and a zero balance ...
... All revenue and expense items are expected to increase by 10 percent, except for depreciation, which remains the same All expenses are paid in cash as they are incurred Year 2 ending inventory is projected at $150,000 By the end of Year 2, predicts notes payable of $50,000 and a zero balance ...
Transactions Costs and Capital Structure Choice: Evidence from
... Transactions costs are potentially very important to financially distressed firms. The debt adjustments contemplated by these firms are quite large, and financial distress may have pushed them far away from their optimal capital structures. To get their debt levels down, financially distressed firms ...
... Transactions costs are potentially very important to financially distressed firms. The debt adjustments contemplated by these firms are quite large, and financial distress may have pushed them far away from their optimal capital structures. To get their debt levels down, financially distressed firms ...
Mauro Alessandro
... we use a unique dataset on sovereign bond issuances and syndicated bank loans to study the duration and determinants of the periods of exclusion from international credit markets that usually follow governments' defaults. Among other results, we find that countries either reaccess the markets in the ...
... we use a unique dataset on sovereign bond issuances and syndicated bank loans to study the duration and determinants of the periods of exclusion from international credit markets that usually follow governments' defaults. Among other results, we find that countries either reaccess the markets in the ...
The Financial Structure of Startup Firms: The Role of
... where ensuring the alignment of interests between managers and shareholders is more difficult. Our question: does the ranking with regard to internal funds, external debt, and external equity that comes from established-firm theory play out for startups, which have different asset and information ch ...
... where ensuring the alignment of interests between managers and shareholders is more difficult. Our question: does the ranking with regard to internal funds, external debt, and external equity that comes from established-firm theory play out for startups, which have different asset and information ch ...
Default, Debt Maturity and Investment Dynamics
... This liquidity risk motive for issuing long-term debt was first emphasized by Flannery (1986) and Diamond (1991). On the other hand, in dynamic investment models, firms lack commitment: in particular, they can take future actions, such as issuing further debt, paying out dividends, repurchasing out ...
... This liquidity risk motive for issuing long-term debt was first emphasized by Flannery (1986) and Diamond (1991). On the other hand, in dynamic investment models, firms lack commitment: in particular, they can take future actions, such as issuing further debt, paying out dividends, repurchasing out ...
The Only Spending Rule Article You Will Ever Need
... approach, choosing a spending rate that produces no more than an x% chance of ruin, where x is the risk of ruin the investor believes he can tolerate. The exact approach varies from one practitioner to another. This approach contrasts with our method. A simulation approach tries to balance the desir ...
... approach, choosing a spending rate that produces no more than an x% chance of ruin, where x is the risk of ruin the investor believes he can tolerate. The exact approach varies from one practitioner to another. This approach contrasts with our method. A simulation approach tries to balance the desir ...
3. Challenges for the UK public finances
... economy – be below 2% of national income in that year. Compared with the budget surplus required by the previous fiscal rule (in 2019–20 and beyond), this target provides more headroom in two respects. First, and most importantly, a 2% of national income target requires much less tightening than bud ...
... economy – be below 2% of national income in that year. Compared with the budget surplus required by the previous fiscal rule (in 2019–20 and beyond), this target provides more headroom in two respects. First, and most importantly, a 2% of national income target requires much less tightening than bud ...
Ratio Analysis
... DuPont analysis A method of performance measurement that was started by the DuPont Corporation in the 1920s. With this method, assets are measured at their gross book value rather than at net book value in order to produce a higher return on equity (ROE). It is also known as "DuPont identity". DuPo ...
... DuPont analysis A method of performance measurement that was started by the DuPont Corporation in the 1920s. With this method, assets are measured at their gross book value rather than at net book value in order to produce a higher return on equity (ROE). It is also known as "DuPont identity". DuPo ...
Interpreting Farm Financial Ratios
... Liquidity is a measure of how well a farm can pay its debt (the portion due within one year) and other expenses in the coming year. The ratios that measure liquidity are current ratio and working capital. These two ratios can help determine if there is enough cash to cover upcoming expenses. The cur ...
... Liquidity is a measure of how well a farm can pay its debt (the portion due within one year) and other expenses in the coming year. The ratios that measure liquidity are current ratio and working capital. These two ratios can help determine if there is enough cash to cover upcoming expenses. The cur ...
Institutions, Public Debt and Foreign Finance
... Within this basic setup, we then ask: how does the quality of financial institutions shape the government’s incentive to default? We find that better financial institutions increase the government’s cost of default by boosting banks’ leverage. Higher leverage indeed allows banks to a) purchase more ...
... Within this basic setup, we then ask: how does the quality of financial institutions shape the government’s incentive to default? We find that better financial institutions increase the government’s cost of default by boosting banks’ leverage. Higher leverage indeed allows banks to a) purchase more ...
Public Debt and Deficits
... rigorous policy frameworks do not exist—considered analytical tools and normative standards have been developed—but that these frameworks are not well understood by the public. At the highest level, there may be similarities in fiscal frameworks across countries. However, country-specific circumstan ...
... rigorous policy frameworks do not exist—considered analytical tools and normative standards have been developed—but that these frameworks are not well understood by the public. At the highest level, there may be similarities in fiscal frameworks across countries. However, country-specific circumstan ...
DOC - Europa.eu
... No threshold for a significant fall in the value of derivatives which have an underlying which is not a financial instrument, including commodity derivatives, is specified in this Regulation. Given the diversity of these other derivatives, the difficulty of calculating consistent and stable threshol ...
... No threshold for a significant fall in the value of derivatives which have an underlying which is not a financial instrument, including commodity derivatives, is specified in this Regulation. Given the diversity of these other derivatives, the difficulty of calculating consistent and stable threshol ...
Resolving China`s Corporate Debt Problem
... sector. While formally classified as state-owned enterprises (SOEs) and not part of the public sector, many LGFVs perform fiscal functions and a sizeable part of this credit should be classified as public debt. However, even after stripping the effect of LGFV borrowing, credit to the corporate secto ...
... sector. While formally classified as state-owned enterprises (SOEs) and not part of the public sector, many LGFVs perform fiscal functions and a sizeable part of this credit should be classified as public debt. However, even after stripping the effect of LGFV borrowing, credit to the corporate secto ...
Download attachment
... measurement, you have no reference to work with and thus, you tend to operate in the dark. One way of establishing references and managing the financial affairs of an organization is to use ratios. Ratios are simply relationships between two financial balances or financial calculations. These relati ...
... measurement, you have no reference to work with and thus, you tend to operate in the dark. One way of establishing references and managing the financial affairs of an organization is to use ratios. Ratios are simply relationships between two financial balances or financial calculations. These relati ...
Greece: Preliminary Debt Sustainability Analysis
... concluding reviews, with only 5 of 16 originally scheduled reviews eventually completed. The problems mounted from mid-2014, with across-the-board reversals after the change of ...
... concluding reviews, with only 5 of 16 originally scheduled reviews eventually completed. The problems mounted from mid-2014, with across-the-board reversals after the change of ...
Debt Valuation, Renegotiation, and Optimal Dividend Policy
... the bargaining process. During the period of such strategic debt service there is no tax benefit. But when the fortunes improve and the contractual debt service payments are resumed, the tax benefit is assumed to be restored. Under this formulation the presence of potential future tax benefits will dri ...
... the bargaining process. During the period of such strategic debt service there is no tax benefit. But when the fortunes improve and the contractual debt service payments are resumed, the tax benefit is assumed to be restored. Under this formulation the presence of potential future tax benefits will dri ...
Common Bankruptcy Issues
... in the ordinary course of business 20 days prior to petition date Generally client must file motion for allowance of 503(b)(9) claim if no alternate procedure is specified • Procedures or deadlines for asserting may be addressed in “first day” or other Bankruptcy Court orders • Watch for deadline ...
... in the ordinary course of business 20 days prior to petition date Generally client must file motion for allowance of 503(b)(9) claim if no alternate procedure is specified • Procedures or deadlines for asserting may be addressed in “first day” or other Bankruptcy Court orders • Watch for deadline ...
GAAP - Office of Superintendent of Public Instruction
... to Title 28A Revised Code of Washington (RCW) for the purpose of providing public school services. Oversight responsibility for the district’s operations is vested with the independently elected board of directors. Management of the district is appointed by and is accountable to the board of directo ...
... to Title 28A Revised Code of Washington (RCW) for the purpose of providing public school services. Oversight responsibility for the district’s operations is vested with the independently elected board of directors. Management of the district is appointed by and is accountable to the board of directo ...
foreword - Port Phillip Publishing
... on this mountain of private, corporate and public debt. Based on the simple concept that if something cannot continue, then it won’t, it’s reasonable to assume something has got to give. When it does, there will be a high price to pay…very high. You may think the title of this book, The End of Austr ...
... on this mountain of private, corporate and public debt. Based on the simple concept that if something cannot continue, then it won’t, it’s reasonable to assume something has got to give. When it does, there will be a high price to pay…very high. You may think the title of this book, The End of Austr ...
... since it influences the shareholder return and risk (Pandey, 2002). The study of capital structure mainly attempts to explain the mix of securities and financing sources used by corporations to finance real investment (Myers, 2001). In more general terms a firm can choose among many alternative capi ...
Emerging Markets
... for discretionary purchases, resulting in the emergence of a middle-class consumer sector. Indonesia and the Philippines are examples of countries with strong domestic economies and growing consumer classes. Natural resources: Emerging market countries have a disproportional share of natural resourc ...
... for discretionary purchases, resulting in the emergence of a middle-class consumer sector. Indonesia and the Philippines are examples of countries with strong domestic economies and growing consumer classes. Natural resources: Emerging market countries have a disproportional share of natural resourc ...
Financial Ratios
... allow us to get a better view of the firm’s financial health than just looking at the raw financial statements Ratios are used by both internal and external analysts • Internal uses planning evaluation of management ...
... allow us to get a better view of the firm’s financial health than just looking at the raw financial statements Ratios are used by both internal and external analysts • Internal uses planning evaluation of management ...
Growth in the Shadow of Expropriation ∗ Mark Aguiar and Manuel Amador
... desire to consume while in office against reducing foreign liabilities and increasing investment. In a highly distorted political environment, governments are unwilling to reduce their sovereign debt quickly, as the desire for immediate consumption outweighs the future benefits of less overhanging deb ...
... desire to consume while in office against reducing foreign liabilities and increasing investment. In a highly distorted political environment, governments are unwilling to reduce their sovereign debt quickly, as the desire for immediate consumption outweighs the future benefits of less overhanging deb ...