Capital budgeting at banks: the role of government guarantees
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چکیده
There has been much debate about the current banking crisis, but less attention has been paid to the capital budgeting practices at banks and the adverse manner in which mispriced government guarantees have played a role. Viral Acharya, Professor of Finance at London Business School and Stern School of Business, New York, and Julian Franks, Oxera Director and Professor of Finance at London Business School, give their perspective
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