Regional Economic Outlook: Western Hemisphere
... for a gradual recovery, slower than the typical recovery in previous cycles, with growth returning to a lower trend only in mid-2010 (Figure 1.3). Unemployment is expected to continue rising, cresting at more than 10 percent in 2010. Consumer spending (and therefore imports) will be dampened by high ...
... for a gradual recovery, slower than the typical recovery in previous cycles, with growth returning to a lower trend only in mid-2010 (Figure 1.3). Unemployment is expected to continue rising, cresting at more than 10 percent in 2010. Consumer spending (and therefore imports) will be dampened by high ...
Risk Factors A number of risk factors affect Prudential`s operating
... crediting rates. Declines in spread from these products or other spread businesses that Jackson conducts, and increases in surrenders levels arising from interest rate rises, could have a material impact on its businesses or results of operations. Jackson also writes a significant amount of variable ...
... crediting rates. Declines in spread from these products or other spread businesses that Jackson conducts, and increases in surrenders levels arising from interest rate rises, could have a material impact on its businesses or results of operations. Jackson also writes a significant amount of variable ...
Debt Refinancing and Equity Returns∗
... intensity may have the same expected return as a firm with low leverage but high debt refinancing intensity. Put differently, the model implies that, in the cross-section of firms, expected equity returns increase with leverage only when controlling for firms’ refinancing intensities. Additionally, ...
... intensity may have the same expected return as a firm with low leverage but high debt refinancing intensity. Put differently, the model implies that, in the cross-section of firms, expected equity returns increase with leverage only when controlling for firms’ refinancing intensities. Additionally, ...
ESBies: Safety in the tranches
... Two propagation channels follow. First, the increase in bank leverage raises the probability that the home sovereign will bail-out the bank’s bondholders, insofar as the bank is deemed too important (or politically connected) to fail (Acharya, Drechsler & Schnabl, 2014). Second, in response to their ...
... Two propagation channels follow. First, the increase in bank leverage raises the probability that the home sovereign will bail-out the bank’s bondholders, insofar as the bank is deemed too important (or politically connected) to fail (Acharya, Drechsler & Schnabl, 2014). Second, in response to their ...
Greece
... before stabilization is deemed complete and Greece is on a sustained and balanced growth path. The real exchange rate remains overvalued, and non-tourism exports are relatively weak. Banks face a mountain of bad loans that will require adequate capital and oversight to clean up, absent which the pro ...
... before stabilization is deemed complete and Greece is on a sustained and balanced growth path. The real exchange rate remains overvalued, and non-tourism exports are relatively weak. Banks face a mountain of bad loans that will require adequate capital and oversight to clean up, absent which the pro ...
NBER WORKING PAPER SERIES AND CAPITAL STRUCTURE
... characterization of firms’ default policies. Risk prices for small consumption shocks depend on the conditional volatility of consumption growth. Risk prices for large shocks depend on their frequency, size, and persistence. With recursive preferences, investors are concerned with news about future ...
... characterization of firms’ default policies. Risk prices for small consumption shocks depend on the conditional volatility of consumption growth. Risk prices for large shocks depend on their frequency, size, and persistence. With recursive preferences, investors are concerned with news about future ...
csx corporation - corporate
... In June 2011, the Financial Accounting Standards Board issued an Accounting Standards Update to the Comprehensive Income Topic in the ASC aimed at increasing the prominence of items reported in other comprehensive income in the financial statements. This update requires companies to present comprehe ...
... In June 2011, the Financial Accounting Standards Board issued an Accounting Standards Update to the Comprehensive Income Topic in the ASC aimed at increasing the prominence of items reported in other comprehensive income in the financial statements. This update requires companies to present comprehe ...
Capital Structure and Employment Flexibility
... contracts by …rms. This setting, akin to a natural experiment, allows me to identify the causal e¤ect of employment ‡exibility on capital structure. I …nd a large economic magnitude of this e¤ect: A thought experiment of completely prohibiting an average …rm from using temporary employment contracts ...
... contracts by …rms. This setting, akin to a natural experiment, allows me to identify the causal e¤ect of employment ‡exibility on capital structure. I …nd a large economic magnitude of this e¤ect: A thought experiment of completely prohibiting an average …rm from using temporary employment contracts ...
NI/Sales ROA
... • Really should be “Credit Sales” not total Sales. We don’t have that. • Would be number of times in the year credit was extended and then collected • Often Average A/R is used as opposed to Ending A/R ...
... • Really should be “Credit Sales” not total Sales. We don’t have that. • Would be number of times in the year credit was extended and then collected • Often Average A/R is used as opposed to Ending A/R ...
The Gains from Resolving Debt Overhang: Evidence from a
... coupon every period, and there is no principal due. Conditional on its productivity, the firm makes production decisions using a constant returns-to-scale technology in labor. Each period, the firm enters with a productivity level, investment opportunities, and a coupon level. It has some probabilit ...
... coupon every period, and there is no principal due. Conditional on its productivity, the firm makes production decisions using a constant returns-to-scale technology in labor. Each period, the firm enters with a productivity level, investment opportunities, and a coupon level. It has some probabilit ...
0001053532-17-000022 - Lasalle Hotel Properties
... periods presented. Operating results for the three months ended March 31, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017 due to seasonal and other factors. These consolidated financial statements should be read in conjunction with the au ...
... periods presented. Operating results for the three months ended March 31, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017 due to seasonal and other factors. These consolidated financial statements should be read in conjunction with the au ...
The role of information asymmetry and financial reporting quality in
... perceive loans with binding covenants to be subject to higher information uncertainty and this is reflected in the higher spreads of these facilities. The high information asymmetry environment associated with loans subject to binding covenants might be driven by managers’ manipulative behavior, as ...
... perceive loans with binding covenants to be subject to higher information uncertainty and this is reflected in the higher spreads of these facilities. The high information asymmetry environment associated with loans subject to binding covenants might be driven by managers’ manipulative behavior, as ...
Sticker to Prospectus The Prospectus for ICON ECI Fund Fifteen
... On September 5, 2008, several of our affiliates entered into an amended forbearance agreement with MW Universal, Inc. (“MWU”), LC Manufacturing, LLC (“LC Manufacturing”), MW Crow, Inc. (“Crow”) and seven other subsidiaries of MWU (collectively, the “MWU entities”) to cure certain non-payment related ...
... On September 5, 2008, several of our affiliates entered into an amended forbearance agreement with MW Universal, Inc. (“MWU”), LC Manufacturing, LLC (“LC Manufacturing”), MW Crow, Inc. (“Crow”) and seven other subsidiaries of MWU (collectively, the “MWU entities”) to cure certain non-payment related ...
Credit Rating and Short-Term Debt Financing: Empirical
... factors such as dichotomy between large-firm and small-medium-firm sectors, concentration of economic power by chaebol-affiliated firms, and industry characteristics affect the firms’ trade credit use, the effects of these factors are estimated. Because purchasing/borrowing firms’ trade credit use i ...
... factors such as dichotomy between large-firm and small-medium-firm sectors, concentration of economic power by chaebol-affiliated firms, and industry characteristics affect the firms’ trade credit use, the effects of these factors are estimated. Because purchasing/borrowing firms’ trade credit use i ...
WASHINGTON TRUST BANCORP INC (Form: 10-Q
... The consolidated financial statements include the accounts of the Bancorp and its subsidiaries (collectively, the “Corporation” or “Washington Trust”). All significant intercompany transactions have been eliminated. Certain previously reported amounts have been reclassified to conform to current yea ...
... The consolidated financial statements include the accounts of the Bancorp and its subsidiaries (collectively, the “Corporation” or “Washington Trust”). All significant intercompany transactions have been eliminated. Certain previously reported amounts have been reclassified to conform to current yea ...
Why do Spanish firms rarely use the bankruptcy
... When a firm defaults on its debt, filing for bankruptcy is just one of the available alternatives. There are other procedures that may be cheaper and speedier for some types of businesses and creditors. Since there are many other options, depending on each country’s legal system, we shall focus in the ...
... When a firm defaults on its debt, filing for bankruptcy is just one of the available alternatives. There are other procedures that may be cheaper and speedier for some types of businesses and creditors. Since there are many other options, depending on each country’s legal system, we shall focus in the ...
Leverage and Capital Structure
... Operating leverage results from the existence of fixed operating costs in the firm’s income stream. Using the structure presented in Table 11.2, we can define operating leverage as the potential use of fixed operating costs to magnify the effects of changes in sales on the firm’s earnings before int ...
... Operating leverage results from the existence of fixed operating costs in the firm’s income stream. Using the structure presented in Table 11.2, we can define operating leverage as the potential use of fixed operating costs to magnify the effects of changes in sales on the firm’s earnings before int ...
Monetary Policy report
... large current account deficits, funded by short-term capital flows that have been hit, although stock markets in developed economies have also been affected. No major contagion effects are expected to arise as long as growth prospects continue to improve in the developed economies. Central bank comm ...
... large current account deficits, funded by short-term capital flows that have been hit, although stock markets in developed economies have also been affected. No major contagion effects are expected to arise as long as growth prospects continue to improve in the developed economies. Central bank comm ...
Accounts and Notes Receivable
... At this point, we begin to study financial accounting topics not covered in Accounting 100. This chapter will be challenging because all material is new. Therefore, make certain to devote the proper amount of time to the course material. A receivable is an amount due from another party. Receivables ...
... At this point, we begin to study financial accounting topics not covered in Accounting 100. This chapter will be challenging because all material is new. Therefore, make certain to devote the proper amount of time to the course material. A receivable is an amount due from another party. Receivables ...
The Market for Corporate Control and the Cost of Debt
... The implication for bondholders in general, not necessarily those whose …rms are currently acquiring or being acquired, is that an open market for corporate control leads to a lower cost of debt; in addition, the e¤ect would be more pronounced for …rms with higher credit risk. Following Billett, Kin ...
... The implication for bondholders in general, not necessarily those whose …rms are currently acquiring or being acquired, is that an open market for corporate control leads to a lower cost of debt; in addition, the e¤ect would be more pronounced for …rms with higher credit risk. Following Billett, Kin ...
NBER WORKING PAPER SERIES QUANTITATIVE IMPLICATION OF A DEBT-DEFLATION
... East Asia in 1997, even in countries where there was no devaluation of the currency, as in Hong Kong where equity prices fell by 20 percent. Sudden Stops also induced higher asset price volatility. The volatility of weekly emerging-market dollar returns doubled from 2 to 4 percent during the 1997 Ea ...
... East Asia in 1997, even in countries where there was no devaluation of the currency, as in Hong Kong where equity prices fell by 20 percent. Sudden Stops also induced higher asset price volatility. The volatility of weekly emerging-market dollar returns doubled from 2 to 4 percent during the 1997 Ea ...
- UConn School of Business
... actions that maximize the value of equity. Yet, managers often have their own incentives that may not be perfectly aligned with shareholders' interests. These include reputation concerns (Narayanan (1985)), empire-building interests (Jensen’s (1986)), and risk-aversion due to undiversified wealth an ...
... actions that maximize the value of equity. Yet, managers often have their own incentives that may not be perfectly aligned with shareholders' interests. These include reputation concerns (Narayanan (1985)), empire-building interests (Jensen’s (1986)), and risk-aversion due to undiversified wealth an ...
Household debt
Household debt is defined as the amount of money that all adults in the household owe financial institutions. It includes consumer debt and mortgage loans. A significant rise in the level of this debt coincides historically with many severe economic crises and was a cause of the U.S. and subsequent European economic crises of 2007–2012. Several economists have argued that lowering this debt is essential to economic recovery in the U.S. and selected Eurozone countries.