This paper studies a dynamic equilibrium model of financial innovation with heterogeneous beliefs and competition among sellers of a new security. We show that both volume and price of the security after it is introduced are sensitive to the differing beliefs of participating players. We present conditions for the innovator to continue issuing the new security and for the imitator to enter the ...

The collateralised debt obligation (CDO) market has grown rapidly, both globally and in Australia, over recent years. CDOs are securities that are issued against a pool of assets that can include bonds, loans or asset-backed securities (ABS) including other CDOs.2 Increasingly, this exposure is being created synthetically by the use of derivatives written on these assets, rather than physically...

This study aims to examine the differences in financial performance of non-financial companies before and after mergers acquisitions listed on Indonesia Stock Exchange. The company's is measured by four ratios. ratios used are liquidity ratio proxied current ratio, solvency debt activity total asset turnover, profitability net profit margin. data analysis technique this paired sample t-test nor...

Business expansions along with number of new companies being engaged in variety of industries aimed at getting bigger market share, underscored the role of corporate governance within the financial sphere. One of the important issues in corporate governance is acquisition. Due to the significant impact of companies in refining and petrochemical sectors on capital market and whole economy, their...

This Study entitled “ Analysis Of Financial Performance On PT. GLOBALINDO ALAM LESTARI. The purpose of this study were : 1. To determine the development Current Ratio (CR), Quick (QR), Cash Ratio, Total Assets Turn Over ( TATO), Fixed (FATO), Debt (DAR), to Equity (DER), Net Profit Margin (NPM), Return on Investment (ROI) dan (ROE). 2. financial performance achieve goal in doing following steps...

Research aim: The study is intended to analyze the influence of debt-to-equity ratios, firm size, and current ratio on price-to-book value using return equity as an intervening variable.Design/Methodology/Approach: population in this research was basic materials sector companies listed Indonesia Stock Exchange (IDX) from 2018 2020. Meanwhile, number samples 70, collected by purposive sampling. ...

In 1976 Black and Cox proposed a structural model where an obligor defaults when the value of its assets hits a certain barrier. In 2001 Zhou showed how the model can be extended to two obligors whose assets are correlated. In this paper we show how the model can be extended to a large number of different obligors. The correlations between the assets of the obligors are determined by one or mor...

ONETIZING the debt” conjures up fearsome images of excessive money stock growth resulting from Federal Reserve purchases of Treasury debt. Many analysts fear that debt monetization may produce undesirable economic consequences, such as more rapid inflation and, thus, higher nominal interest rates. There appears to be some confusion, however, over what debt monetization means, whether or to what...