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Informational Imperfections In The Capital Market And Macro Economic Fluctuations
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Book Synopsis Asymmetric Information, Corporate Finance, and Investment by : R. Glenn Hubbard
Download or read book Asymmetric Information, Corporate Finance, and Investment written by R. Glenn Hubbard and published by University of Chicago Press. This book was released on 2009-05-15 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this volume, specialists from traditionally separate areas in economics and finance investigate issues at the conjunction of their fields. They argue that financial decisions of the firm can affect real economic activity—and this is true for enough firms and consumers to have significant aggregate economic effects. They demonstrate that important differences—asymmetries—in access to information between "borrowers" and "lenders" ("insiders" and "outsiders") in financial transactions affect investment decisions of firms and the organization of financial markets. The original research emphasizes the role of information problems in explaining empirically important links between internal finance and investment, as well as their role in accounting for observed variations in mechanisms for corporate control.
Book Synopsis Informational Imperfections on the Capital Market and Macro-economic Fluctuations by : Bruce C. Greenwald
Download or read book Informational Imperfections on the Capital Market and Macro-economic Fluctuations written by Bruce C. Greenwald and published by . This book was released on 1984 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: The model also derives an expression for the cost of equity capital in the presence of adverse selection and provides informational explanations for several widely observed macro-economic phenomena.
Book Synopsis Selected Works of Joseph E. Stiglitz by : Joseph E. Stiglitz
Download or read book Selected Works of Joseph E. Stiglitz written by Joseph E. Stiglitz and published by Oxford University Press. This book was released on 2009 with total page 767 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first in a series of six volumes containing a selection of Joseph Stiglitz's most important and widely cited work, this volume includes a number of seminal papers on the economics of information. The volume contains substantial additional original commentary by Joseph Stiglitz on his work and the field more generally.
Book Synopsis Financial Market Imperfections and Corporate Decisions by : Emilio Colombo
Download or read book Financial Market Imperfections and Corporate Decisions written by Emilio Colombo and published by Springer Science & Business Media. This book was released on 2006-01-27 with total page 179 pages. Available in PDF, EPUB and Kindle. Book excerpt: We would like to thank Akos Valentinyi and Mark Schaffer for their advice on various stages of this research project. We also would like to thank our col leagues at the Department of Economics of the University of Milan - Bicocca for their advice and support. This book is the result of a long term project financed by various research grants: in particular the Phare-Ace programme (Project P-96-6151-R) and a research grant from the Italian Ministry of Education under the young researchers scheme. Milan, March 2005 Emilio Colombo Luca Stanca Contents Introduction 1 Financial market imperfections and corporate decisions: theory and evidence 7 2. 1 Introduction 7 2. 2 Financial market imperfections, investment and cycles 9 2. 2. 1 The Stiglitz view 9 2. 2. 2 Agency costs and macroeconomic fluctuations 15 2. 2. 3 Assessing the differences 18 2. 2. 4 Further developments 20 2. 2. 5 Empirical evidence 22 2. 3 Financial market imperfections and corporate capital structure 24 2. 3. 1 Asymmetric information and capital structure choice . . 25 2. 3. 2 Agency costs and capital structure choice 30 2. 3. 3 Empirical evidence 32 The transformation of the Hungarian financial system 35 3. 1 Introduction 35 3. 2 Macroeconomic background 36 3. 3 Liberalisation, privatisation and financial development 44 3. 3. 1 Banking and credit 45 3. 3. 2 Equity market 48 3. 3. 3 Foreign direct investment 49 3. 4 Financial sector reform 50 3. 4.
Book Synopsis The New Macroeconomics by : Huw David Dixon
Download or read book The New Macroeconomics written by Huw David Dixon and published by Cambridge University Press. This book was released on 1995-10-19 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: Brings together leading researchers from the USA and Europe to examine the literature on the new macroeconomics.
Book Synopsis Financial Conditions and Macroeconomic Performance by : Steven M. Fazzari
Download or read book Financial Conditions and Macroeconomic Performance written by Steven M. Fazzari and published by Routledge. This book was released on 2015-06-05 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of papers on financial instability and its impact on macroeconomic performance honours Hyman P. Minsky and his lifelong work. It is based on a conference at Washington University, St. Louis, in 1990 and includes among the authors Benjamin M. Friedman, Charles P. Kindleberger, Jan Kregel and Steven Fazzari. These papers consider Minsky's definitive analysis that yields such a clear and disturbing sequence of financial events: booms, government intervention to prevent debt contraction and new booms that cause a progressive buildup of new debt, eventually leaving the economy much more fragile financially.
Book Synopsis Economics for an Imperfect World by : Joseph E. Stiglitz
Download or read book Economics for an Imperfect World written by Joseph E. Stiglitz and published by MIT Press. This book was released on 2003 with total page 722 pages. Available in PDF, EPUB and Kindle. Book excerpt: The focus of Joseph Stiglitz's work in economics throughout his long and distinguished career has been on the real world, with all of its imperfections.
Book Synopsis The Origins of Europe's New Stock Markets by : Elliot Posner
Download or read book The Origins of Europe's New Stock Markets written by Elliot Posner and published by Harvard University Press. This book was released on 2009-02-15 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: Between 1995 and 2007, financial elites in more than a dozen western European countries engaged in a cross-border battle to create some twenty new stock markets, many of which were explicitly modeled on the American Nasdaq. The resulting high-risk, high-reward markets facilitated wealth creation, rewarded venture capitalists, and drew major U.S. financial players to Europe. But they also chipped away at the European social compacts between national governments and citizens, opening the door of smaller company finance to the broad trend of marketization and its bounties, and further subjecting European households and family businesses to the rhythms of global capital. Elliot Posner explores the causes of Europe’s emergence as a global financial power, addressing classic and new questions about the origins of markets and their relationship to politics and bureaucracy. In doing so, he attributes the surprising large-scale transformation of Europe’s capital markets to the rise of the European Union as a global political force. The effect of Europe’s financial ascendance will have major ramifications around the world, and Posner’s analysis will push market participants, policymakers, and academics to rethink the sources of financial change in Europe and beyond.
Book Synopsis Frontiers of Development Economics by : Gerald M. Meier
Download or read book Frontiers of Development Economics written by Gerald M. Meier and published by World Bank Publications. This book was released on 2001 with total page 596 pages. Available in PDF, EPUB and Kindle. Book excerpt: With contributions from 35 leading economists, this forward-looking book explores the future of development economics against the background of the past half-century of development thought and practice. Outstanding representatives of the past two generations of development economists assess development thinking at the turn of the century and look to the unsettled questions confronting the next generation.The volume offers a thorough analysis of the broad range of issues involved in development economics, and it is especially timely in its critique of what is needed in development theory and policy to reduce poverty. An overriding issue is whether in the future 'development economics' is to be regarded simply as applied economics or whether the nature and scope of development economics will constitute a need for a special development theory to supplement general economic theory.'Frontiers of Development Economics' is an ideal reference for all those working in the international development community.
Book Synopsis Focus on Macroeconomics Research by : Lawrence Z. Pelzer
Download or read book Focus on Macroeconomics Research written by Lawrence Z. Pelzer and published by Nova Publishers. This book was released on 2005 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: Macroeconomics is that part of economics that focuses on economic growth and economic fluctuations. In a world under the push and pull of globalisation, it becomes crucial for the Developed Countries as well as the Developing Countries. It is necessary for some countries and companies to find the best regions to invest in while it is necessary for others to grow and compete for investment at the same time. This new book brings together an impressive array of research valuable for providing important insight into the international financial currents rippling around the world.
Book Synopsis Credit and Collateral by : Vania Sena
Download or read book Credit and Collateral written by Vania Sena and published by Routledge. This book was released on 2007-12-10 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: Collateral - generally defined as an asset used to provide security for a lender's loan - is an important feature of credit contracts and all the available evidence suggests that its use is getting more pervasive. This informative book builds upon recent research into this topic. Sena analyses three case-studies that revolve around the impact that financial constraints have on economic outcomes. In the first case-study, the relationship between firms’ technical efficiency and increasing financial pressure is explored. The author then goes on to show, in the second case study, that under specific circumstances, increasing financial pressure and increasing product market competition can jointly have a positive impact on firms’ technical efficiency, while not being true for all types of firms. In the third case, she analyses the impact that finance constraints have on women’s start-ups. Unique and revealing, this is the first book to deal so extensively with the topic of collateral, and as such, is a valuable reference to postgraduates and professionals in the fields of macroeconomics, monetary and business economics.
Book Synopsis Financial Dynamics and Business Cycles by : Willi Semmler
Download or read book Financial Dynamics and Business Cycles written by Willi Semmler and published by Routledge. This book was released on 2019-08-08 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the 55th anniversary of the bank holiday of March 1933 approached, financial instability was a main topic in the financial press. Daily reports appeared of international debt crises, of the covert bankruptcy of deposit insurance, and of the near bankruptcy of one great financial institution after another. The great stock market crash of October 19 and 20, 1987, demonstrated that extreme instability can happen. It is generally asserted that the consequences of October 19th and 20th would have been disastrous if the Federal Reserve and Treasury interventions had not set things right. In 1933, financial markets in the United States and throughout the capitalist world collapsed. In the light of historical experience, the past 55 years are the anomaly. The papers collected in this volume come from various backgrounds and research paradigms. A common theme runs through these papers that makes the collection both interesting and important: The authors take seriously the obvious evidence that capitalist economies progress through time by lurching. Whether a particular study starts from household utility maximization or from the processes by which productive structures are reproduced and expanded, the authors are united in accepting the evidence that financial instability is a significant characteristic of modern capitalism.
Book Synopsis Stability with Growth by : Joseph Stiglitz
Download or read book Stability with Growth written by Joseph Stiglitz and published by OUP Oxford. This book was released on 2006-08-31 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is growing dissatisfaction with the economic policies advocated by the IMF and other international financial institutions - policies that have often resulted in stagnating growth, crises, and recessions for client countries. This book presents an alternative to "Washington Consensus" neo-liberal economic policies by showing that both macro-economic and liberalization policy must be sensitive to the particular circumstances of developing countries. One-size-fits-all policy prescriptions are likely to fail given the vast differences between countries. This book discusses how alternative approaches to economic policy can better serve developing countries both in ordinary times and in times of crisis.
Download or read book FDIC Banking Review written by and published by . This book was released on 1988 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Handbook of the Economics of Finance by : George M. Constantinides
Download or read book Handbook of the Economics of Finance written by George M. Constantinides and published by Elsevier. This book was released on 2003-11-04 with total page 654 pages. Available in PDF, EPUB and Kindle. Book excerpt: Volume 1A covers corporate finance: how businesses allocate capital - the capital budgeting decision - and how they obtain capital - the financing decision. Though managers play no independent role in the work of Miller and Modigliani, major contributions in finance since then have shown that managers maximize their own objectives. To understand the firm's decisions, it is therefore necessary to understand the forces that lead managers to maximize the wealth of shareholders.
Book Synopsis Proceedings of the 18th International Symposium on Advancement of Construction Management and Real Estate by : Donglang Yang
Download or read book Proceedings of the 18th International Symposium on Advancement of Construction Management and Real Estate written by Donglang Yang and published by Springer. This book was released on 2014-05-21 with total page 700 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Chinese Research Institute of Construction Management (CRIOCM) in collaboration with Xi'an Jiaotong University proudly invites all academics, researchers and professionals to participate in the CRIOCM 2013, the 18th International Symposium on "Advancement of Construction Management and Real Estate". We will uphold and preserve the idea and tradition of pragmatism and innovation, to offer an excellent academic and communication platform for academics and professionals to exchange information on the latest developments in real estate and construction management.
Book Synopsis A Macroeconomics Reader by : Brian Snowdon
Download or read book A Macroeconomics Reader written by Brian Snowdon and published by Routledge. This book was released on 1997-07-10 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Macroeconomics Reader brings together a collection of key readings in modern macroeconomics. Each article has been carefully chosen to provide the reader with accessible, non-technical, and reflective papers which critically assess important areas and current controversies within modern macroeconomics.The book is divided into six parts, each with
