منابع مشابه
Debt Financing in Asset Markets
The widely used short-term debt such as overnight repos and commercial paper is regarded as one of the main sources of instability leading to the distress of many nancial institutions during the nancial crisis of 2007-2008. What explains the popularity of shortterm debt in nancing asset market investments? Geanakoplos (2010) presents a dynamic model of the joint equilibrium of asset markets ...
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Asset values often fall sharply once assets are placed outside of the rm. When this happens, investors have fewer incentives to enforce their right to liquidate or reorganize the rm. Instead, they may allow an underperforming business to continue and may even re nance it under its current management. The problem that this creates is that rm insiders then have fewer incentives to implement va...
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متن کاملDo Debt Contract Enforcement Costs Affect Financing and Asset Structure?
Using staggered changes to debt contract enforcement costs in India, we estimate it’s causal effect on financing and asset maturity. A reduction in enforcement costs is associated with an increase in long-term debt and a decrease in short-term debt and trade-credit. The increase in debt maturity is confined to firms that borrow from multiple and diverse set of lenders and to smaller firms. Firm...
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In 2007 ‘‘the state of asset management in the Netherlands’’ for infrastructures was established by a national study conducted by the Next Generation Infrastructures research programme (NGInfra). This study showed that within the Netherlands different interpretations of asset management exist. The way asset management is implemented in practice differs widely. Differences included tools, proces...
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عنوان ژورنال:
مدیریت دارایی و تأمین مالیجلد ۲، شماره ۴، صفحات ۰-۰
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