Financial Markets, Industry Dynamics and Growth
نویسندگان
چکیده
منابع مشابه
Financial Markets and Firm Dynamics
Recent studies have shown that the dynamics of firms (growth, job reallocation and exit) are negatively correlated with the initial size of the firm and its age. In this paper we analyze whether financial factors, in addition to technological differences, are important in generating these dynamics. We introduce financial market frictions in a basic model of industry dynamics with persistent sho...
متن کاملMicrostructure Dynamics and Agent-Based Financial Markets
One of the essential features of the agent-based financial models is to show how price dynamics is affected by the evolving microstructure. Empirical work on this microstructure dynamics is, however, built upon highly simplified and unrealistic behavioral models of financial agents. Using genetic programming as a rule-inference engine and self-organizing maps as a clustering machine, we are abl...
متن کاملImperfect Financial Markets and Investment Dynamics
This paper studies optimal dynamic investment and ...nancial policy of the ...rm, if the interest rate on the ...rm’s debt depends on its capital structure. We characterize the optimal investment and ...nancing decisions and show how the incentive to invest and the market value of the ...rm are a¤ected by ...nancial considerations. Conditions are derived under which average Q remains a su¢cient...
متن کاملA framework for Measuring the Dynamics Connections of Volatility in Oil and Financial Markets
Investigating connections between financial and oil markets is important for investors and policy makers. This knowledge allows for appropriate decision making. In this paper, we measure the dynamic connections of selected stock markets in the Middle East with oil markets, gold, dollar index and euro-dollar and pound-dollar exchange rates during the period February 2007 to August 2019 in networ...
متن کاملBalance, Growth and Diversity of Financial Markets
A financial market comprising of a certain number of distinct companies is considered, and the following statement is proved: either a specific agent will surely beat the whole market unconditionally in the long run, or (and this “or” is not exclusive) all the capital of the market will accumulate in one company. Thus, absence of any “free unbounded lunches relative to the total capital” opport...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: The Economic Journal
سال: 2019
ISSN: 0013-0133,1468-0297
DOI: 10.1111/ecoj.12635