The current study examines the relationship between liquidity risk management and performance of commercial banks in Western Balkans 2015 to 2020. This is examined by using secondary data from financial statements. Financial measured return on assets, equity net interest margin. Liquidity represented quick ratio, loan-to-deposits loan-to-assets cash investment-to-deposit capital adequacy covera...

Campbell (1993) has employed a log-linearized approximation to an aggregate budget constraint to show how the ratio of consumption to total (human and non-human) wealth summarizes agents’ expectations concerning both future labor income and future asset returns. A problem with implementing this approach empirically is the unobservability of human wealth. Recently, Lettau and Ludvigson (2001a) h...

Auction is a mechanism of selling distinct assets that can be both physical objects and virtual objects. Examples of virtual objects are the rights to use assets like airport time slots and FCC spectrum, or to service truckload delivery routes in a transportation network. Under some situations bidding on combinations of objects can render lower total price compare with bidding the objects one a...

Following a bankruptcy, how should we distribute the available assets among the eligible creditors? Most people would accept a proportional distribution—for each claimant, calculate her percentage of the sum of all claims and assign her that same percentage of total assets. However, this is not the only reasonable approach. For example, if every claim is at least as large as total assets, assig...

As the efficiency measuring and analyzing is a crucial problem in modern enterprise management, this paper focuses on the problem of small and medium enterprise financing efficiency analyzing, and we proposed an improved DEA model based on stepwise regression to tackle this problem. Data envelopment analysis technology can calculate the efficiency of each decision making unit relative. Hence, D...

Tangible assets, many of which can be easily collateralized, support debt. Accordingly, the amount of tangible assets is well-established as a principal driver of leverage. As investing is shifting more and more from tangible to intangible assets, it becomes crucial to understand to what extent intangible assets support debt. Analyzing this question empirically has been largely unfeasible due t...

Cumulative abnormal return (CAR) is estimated as long-term shareholder wealth of private placement, and we propose empirical evidence of the effect of private placement on long-term shareholder wealth. Private placement of listed firms has significantly positive effect on long-term shareholder wealth. Cumulative abnormal return are positively related with offer type of private placement at the ...

Traditional sourcing arrangements for after-sales product support have centered around physical assets. Typically, a customer would pay the supplier of maintenance services in proportion to the resources used, such as spare parts, that are needed to maintain the product. In recent years, we have witnessed the emergence of a new service contracting strategy called performance-based contracting (...

Standard textbook economic theory quite generally assumes the neoclassical economic model, which is a static model of unregulated free markets. Every western government in our era believes implicitly in a free market with “springs,” where imbalances are only of short-term nature. The model postulates the nonempirical idea of utility and assumes stable equilibrium, a notion that goes back over t...