منابع مشابه
Diversification , Ricardian Rents , and Tobin ' s q
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متن کاملRisk Measures: Rationality and Diversification
When there is uncertainty about interest rates (typically due to either illiquidity or defaultability of zero coupon bonds) the cash-additivity assumption on risk measures becomes problematic. When this assumption is weakened, to cash-subadditivity for example, the equivalence between convexity and the diversi cation principle no longer holds. In fact, this principle only implies (and it is imp...
متن کاملDiversification of Risk and Saving*
This paper provides evidence that domestic opportunities to share risk have contributed to lower rates of private saving. Two econometric procedures are used in the analysis: (1) traditional instrumental variables estimation and (2) dynamic panel methods. The results reveal a negative relationship between domestic opportunities to diversify risk and aggregate private saving rates in a cross-sec...
متن کاملRicardo Andrés Roa - Castellanos
It has been known that the fi rst reference of the word Bioethics in the twentieth century was due to German theologist Fritz Jahr in 1927. In that surprising paper Jahr, a protestant Lutheran university professor, proposes humble catholic deacon, Saint Francis of Assisi (1181-1226), as the fi rst discoverer of Bioethics in Western Civilization. At the same time, Jahr quotes K.C.F Krause, a Mas...
متن کاملInvestor Protection , Diversification , Investment , and Tobin ’ s q ∗
We develop a dynamic incomplete-markets model where an entrenched insider, facing imperfect investor protection and non-diversifiable illiquid business risk, makes interdependent consumption, portfolio choice, expropriation, corporate investment, ownership, and business exit decisions. Unlike in the first-best, the insider’s tradeoff between private benefits and under-diversification costs lead...
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ژورنال
عنوان ژورنال: International Letters of Social and Humanistic Sciences
سال: 2015
ISSN: 2300-2697
DOI: 10.18052/www.scipress.com/ilshs.50.146