This paper recognizes two main factors that cause the capital requirement to affect the weighted average cost of capital and hence the investment behavior ofbanks: underpriced debt resulting from the deposit insurance and information asymmetry between managers and the stock market. For a bank enjoying a low cost of debt (deposits), an increased proportion of equity financing raises the weighted...

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We propose a cross-sectional time-series model to assess the impact of market liberalizations in emerging equity markets on the cost of capital, volatility, beta, and correlation with world market returns. Liberalizations are defined by regulatory changes, the introduction of depositary receipts and country funds, and structural breaks in equity capital flows to the emerging markets. We control...

Intellectual capital (IC) is organizational intangible asset which is frequently associated with performance. IC is commonly categorized into three core components: human capital, structural capital and relational capital. This study takes a step further in the evolution of the IC model for the hotel industry and divides relationship capital into two categories: End customer- relationship capit...

The shadow return on capital in 75 small municipal water systems is estimated using a gamma frontier variable cost function. The estimated Social Cost of capital exceeds the shadow return by an average ratio of 4.37:1, with a median capital stock inefficiency of $70, 500 per year per system owing to overinvestment in public water supply capital. In addition, actual production costs exceed minim...

The main aim of this study was to investigate the relationship of students' social capital components and entrepreneurship intention. The statistical population of this study consisted of all students of University College of Agriculture and Natural Resources, University of Tehran (N=2600) among which 155 students where accessed based on Cochran formula and through convenient sampling. Data wer...

The rapid growth of elastic computing services, together with a raising need to target savings, enable new IT scenarios. In particular, Law Enforcement Agencies (LEAs) can benefit of digital forensic services sharing, lowering CAPEX and OPEX especially in case of spiky utilization of forensic hardware and software resources. In fact, considering the workloads related to the size of a forensic o...

Traditionally, optical networks have been designed with the objective of minimizing the capital expenditure (CAPEX) without considering the operative costs (OPEX), due for instance to energy consumption. However, the increase of energy consumption and corresponding costs and the challenges imposed by the environmental issues (such as the global warming and the limited oil reserves) are demandin...

intellectual capital (ic) is organizational intangible asset which is frequently associated with performance. ic is commonly categorized into three core components: human capital, structural capital and relational capital. this study takes a step further in the evolution of the ic model for the hotel industry and divides relationship capital into two categories: end customer- relationship capit...