Accruals, Financial Distress, and Debt Covenants Troy D. Janes
... debt covenants of borrowing firms with low accruals are set tightly; however, contrary to expectations, the debt covenants of borrowing firms with high accruals are set relatively loosely. Since prior research has shown that lenders possess unique information about borrowers, this result can be inte ...
... debt covenants of borrowing firms with low accruals are set tightly; however, contrary to expectations, the debt covenants of borrowing firms with high accruals are set relatively loosely. Since prior research has shown that lenders possess unique information about borrowers, this result can be inte ...
Financial Leverage Does Not Cause the Leverage Effect
... The leverage effect is that stock volatility is negatively correlated to stock returns—stock volatility tends to increase when stock prices drop. There are two common economic explanations for the leverage effect. The first explanation is based on the relationship between volatility and expected ret ...
... The leverage effect is that stock volatility is negatively correlated to stock returns—stock volatility tends to increase when stock prices drop. There are two common economic explanations for the leverage effect. The first explanation is based on the relationship between volatility and expected ret ...
Modeling Banking, Sovereign, and Macro Risk in a CCA Global VAR 218 WP/13/
... inputs to banking/sovereign sub-modules which are used to compute aggregate loss estimates and changes in bank capital. We aim to use this framework as an analytical means for the analysis of shocks, spillovers and as well as a tool that helps assess tradeoffs among policy alternatives. B. Motivatio ...
... inputs to banking/sovereign sub-modules which are used to compute aggregate loss estimates and changes in bank capital. We aim to use this framework as an analytical means for the analysis of shocks, spillovers and as well as a tool that helps assess tradeoffs among policy alternatives. B. Motivatio ...
85th Annual Report - Bank for International Settlements
... IV.2 Policy rates are low and central bank assets high in major advanced economies. 67 IV.3 Most policy rates were cut from already low levels . . . . . . . . . . . . . . . . . . . . . . . . . . 68 IV.4 Policy stances have been influenced by inflation performance and exchange rates . . . . ...
... IV.2 Policy rates are low and central bank assets high in major advanced economies. 67 IV.3 Most policy rates were cut from already low levels . . . . . . . . . . . . . . . . . . . . . . . . . . 68 IV.4 Policy stances have been influenced by inflation performance and exchange rates . . . . ...
Inter-generational Redistribution in the Great Recession
... as the present discounted value of future labor income. In addition, young households potentially gain from future asset price appreciation following an asset price collapse, while older households have less time to wait for asset prices to recover. Thus it is likely that a steep decline in asset pr ...
... as the present discounted value of future labor income. In addition, young households potentially gain from future asset price appreciation following an asset price collapse, while older households have less time to wait for asset prices to recover. Thus it is likely that a steep decline in asset pr ...
comparatible analysys of the capital structure
... leverage will comply with the predictions of the trade-off theory of capital structure. On the other hand, the fact that size is not found to be significant when leverage is defined as a ratio of total debt to capital contradicts the assumption that size presents an inverse proxy for the probability ...
... leverage will comply with the predictions of the trade-off theory of capital structure. On the other hand, the fact that size is not found to be significant when leverage is defined as a ratio of total debt to capital contradicts the assumption that size presents an inverse proxy for the probability ...
The Aggregate Demand for Treasury Debt
... securities such as corporate bonds, causing the yield on Treasuries to fall further below corporate bond rates, and the bond spread to widen. The opposite applies when the stock of debt is high. Variation in the supply of Treasury securities traces out a downward sloping demand curve for Treasuries ...
... securities such as corporate bonds, causing the yield on Treasuries to fall further below corporate bond rates, and the bond spread to widen. The opposite applies when the stock of debt is high. Variation in the supply of Treasury securities traces out a downward sloping demand curve for Treasuries ...
2013 Low-Income Countries Global Risks and Vulnerabilities
... improved fiscal and external positions by 2017, reducing the additional external financing need of all LICs from $25 billion to around $18 billion in the emerging markets scenario, but at a cost to growth in the order of ⅓ percent per annum (depending on multiplier size). Requiring fiscal adjustment ...
... improved fiscal and external positions by 2017, reducing the additional external financing need of all LICs from $25 billion to around $18 billion in the emerging markets scenario, but at a cost to growth in the order of ⅓ percent per annum (depending on multiplier size). Requiring fiscal adjustment ...
2NC Spending – DDI 2012 CO
... So the minute that someone says, well, defense is the top constitutional obligation of the federal government and therefore it should be protected regardless, and we should make our deficit reduction out of other accounts. If we start a conversation in those terms, then a big constituency is going t ...
... So the minute that someone says, well, defense is the top constitutional obligation of the federal government and therefore it should be protected regardless, and we should make our deficit reduction out of other accounts. If we start a conversation in those terms, then a big constituency is going t ...
Bloomberg
... were eligible for investment support before 2011. Projects that had received permits prior to the new legislation (Law 2908/2011) were still eligible for that support. This was the case for a large share of projects connected in 2011 and 2012 and a few of those connected in 2013. We assumed capacity ...
... were eligible for investment support before 2011. Projects that had received permits prior to the new legislation (Law 2908/2011) were still eligible for that support. This was the case for a large share of projects connected in 2011 and 2012 and a few of those connected in 2013. We assumed capacity ...
PDF - Allen Tate Mortgage
... ARM will change over time. No one can be sure when an index rate will go up or down. Some index rates tend to be higher than others, and some more volatile. (But if a lender bases interest rate adjustments on the average value of an index over time, your interest rate would not be as volatile.) You ...
... ARM will change over time. No one can be sure when an index rate will go up or down. Some index rates tend to be higher than others, and some more volatile. (But if a lender bases interest rate adjustments on the average value of an index over time, your interest rate would not be as volatile.) You ...
Q1 07 Earnings PR - Final
... regulations in the United States requiring United States citizens to obtain passports for travel to additional foreign destinations, weather, and other factors described in further detail in Royal Caribbean Cruises Ltd.’s filings with the Securities and Exchange Commission. The above examples are no ...
... regulations in the United States requiring United States citizens to obtain passports for travel to additional foreign destinations, weather, and other factors described in further detail in Royal Caribbean Cruises Ltd.’s filings with the Securities and Exchange Commission. The above examples are no ...
Ratio of the Month: Working Capital
... Rate of return on equity is the interest rate your investment in the business earned in the past year. It is calculated as follows: Net farm income – Value of operator’s labor and management Average total farm equity (beginning farm net worth + ending farm net worth /2) This ratio measures the rate ...
... Rate of return on equity is the interest rate your investment in the business earned in the past year. It is calculated as follows: Net farm income – Value of operator’s labor and management Average total farm equity (beginning farm net worth + ending farm net worth /2) This ratio measures the rate ...
The Democratization of Credit and the Rise in Consumer Bankruptcies
... which specifies an interest rate, a borrowing limit and a set of eligible borrowers, an intermediary incurs a fixed cost. When designing loan contracts, lenders face an asymmetric information problem, as they observe a noisy signal of a borrower’s true default risk, while borrowers know their type. ...
... which specifies an interest rate, a borrowing limit and a set of eligible borrowers, an intermediary incurs a fixed cost. When designing loan contracts, lenders face an asymmetric information problem, as they observe a noisy signal of a borrower’s true default risk, while borrowers know their type. ...
Free Full text
... macroeconomic performance. While noting that the near-term outlook remains favorable, Directors also recognized that the country faces important structural challenges from elevated housing prices, high incidence of poverty and inequality, low labor productivity, and low labor force participation in ...
... macroeconomic performance. While noting that the near-term outlook remains favorable, Directors also recognized that the country faces important structural challenges from elevated housing prices, high incidence of poverty and inequality, low labor productivity, and low labor force participation in ...
1.00
... –Account for bad debts using both a balance sheet approach and an income statement approach –Account for dispositions of accounts receivable, including collection, pledging as collateral, and factoring (selling) –Extract and interpret information on receivables from the financial statements ...
... –Account for bad debts using both a balance sheet approach and an income statement approach –Account for dispositions of accounts receivable, including collection, pledging as collateral, and factoring (selling) –Extract and interpret information on receivables from the financial statements ...
Free Full text
... Most Executive Directors agreed with the thrust of the staff appraisal while some Directors had different views on the fiscal path and debt sustainability. Directors commended the Greek authorities for the significant economic adjustment and unwinding of imbalances since 2010, supported by important ...
... Most Executive Directors agreed with the thrust of the staff appraisal while some Directors had different views on the fiscal path and debt sustainability. Directors commended the Greek authorities for the significant economic adjustment and unwinding of imbalances since 2010, supported by important ...
Springleaf Holdings, Inc.
... circumstances after the date of this presentation or to reflect the occurrence of unanticipated events. Forward-looking statements should not be relied upon as the sole basis upon which to make any investment decision. The information disclosed under this Item 2.02, including Exhibit 99.1 hereto, is ...
... circumstances after the date of this presentation or to reflect the occurrence of unanticipated events. Forward-looking statements should not be relied upon as the sole basis upon which to make any investment decision. The information disclosed under this Item 2.02, including Exhibit 99.1 hereto, is ...
MONTHLY ECONOMIC REVIEW BANK OF TANZANIA March 2017
... declining steadily in the recent months, but its ...
... declining steadily in the recent months, but its ...
Count the Limbs: Designing Robust Aggregation Clauses in
... and creditors, empower a majority of creditors, neutralize free-riders, and protect minorities from abuse. This balancing had to be achieved with no statutory guidance or court oversight, which in ...
... and creditors, empower a majority of creditors, neutralize free-riders, and protect minorities from abuse. This balancing had to be achieved with no statutory guidance or court oversight, which in ...
Inflation DA 7WK - Open Evidence Archive
... Looking ahead, I anticipate that significant headwinds will continue to restrain the pace of the recovery so that the remaining employment gap is likely to close only slowly. At ...
... Looking ahead, I anticipate that significant headwinds will continue to restrain the pace of the recovery so that the remaining employment gap is likely to close only slowly. At ...
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.