This paper studies whether banks charge higher or lower interest rates on loans to firms with overconfident CEOs. It establishes a theoretical model to show the relationship between the loan rate and overconfidence of the borrowing firm’s CEO. It also conducts empirical analyses to test the predictions of the model. As predicted in the model, firms with overconfident CEOs enjoy lower loan rates...

Purpose: The aim of this study is to develop bromhexine hydrochloride 1 %w/v oral solution for veterinary use and to evaluate its stability. Methods: Solutions of Bromhexine hydrochloride (1%w/v) were prepared by dissolving bromhexine hydrochloride in benzyl alcohol at 50 °C then alcohol 96 % v/v; Tween 80 and purified water were added. The obtained solution was filled in amber glass bottles, a...

This paper investigates the relation between investment analyst recommendations and merger completion. Unlike the new issues market, we argue analysts’ incentives are skewed to issue recommendations that ensure merger completion rather than maximize the overall deal value. Using a comprehensive sample of completed and withdrawn mergers, we observe the direction and affiliation of recommendation...

We examine the relationship between the number of bank relationships and firms’ performance, evaluating possible differential effects related to firms’ size. Our sample of firms from Italy includes many small firms, 99 percent of which are not listed and for which bank debt is a major source of financing. In the sample, 4 percent of the firms have a single bank relationship, and 66 percent of t...

Using banks’ internal models for regulatory purposes, while aimed at making capital requirements more accurate, invites regulatory arbitrage. I develop a framework to study the strategic selection of risk models, and derive predictions in line with recent empirical evidence. I also study optimal regulations. Penalizing banks with low risk-weights when they suffer abnormal losses is a powerful t...

Proposals for regulation requiring that banks maintain some minimum level of subordinated debt have gained support recently. These proposals focus on the benefits of such regulation, specifically, that supervisors are expected to free ride on debtholders’ monitoring efforts. But there are also monitoring and other costs: there is no real free ride. This paper uses the theory of capital structur...

Neural nets have become one of the most important tools using in credit scoring. Credit scoring is regarded as a core appraised tool of commercial banks during the last few decades. The purpose of this paper is to investigate the ability of neural nets, such as probabilistic neural nets and multi-layer feed-forward nets, and conventional techniques such as, discriminant analysis, probit analysi...

شور و داوم اه : 20 لمکم هورگ ود هب یفداصت روط هب ملاس راکشزرو ریغ درم ) ینس نیگنایم اب 1 / 2 ± 2 / 24 لاس ( امنوراد و ) ینس نیگنایم اب 1 / 2 ± 6 / 23 لاس ( دندش میسقت . یندومزآ دنداد ماجنا ار رپوک ندیود هقیقد هدزاود نومزآ ادتبا هورگ ود ره ياه . ریس لمکم هورگ کی هب سپس ) ياه لوسپک لکش هب 500 یمرگ یلیم ( امنوراد رگید هورگ هب و ) لوسپک ياه 500 یلیم زکولگ یمرگ ( هنآ زا و دش هداد زا سپ دش ...

هدیکچ فده و هقباس : نیئتورپ نایب ا یکی نارادناتسپ ریش رد یجراخ یاه هار ز یعیـسو دربراک جیردت هب هک تسا ییاهراک هدروآرف هوبنا دیلوت رد یم بیکرتون ییوراد یاه هب ،دبای هدروآرف هژیو تسد هک ییاه شیب شوخ سـپ تارـییغت نیرت زا همجرت یا یم دنوش . شوم داجیا قیقحت نیا زا فده سنارت یاه سنارت دجاو هک دوب یکینژ نایب نژ هدننک یسلک نینوـت رد دیربیه دنشاب شوم یریش ددغ . شور و داوم اه : یدنفـسوگ نیلوبلگوتک...