Research in Finance, Volume 20 (Research in Finance) by A.H. Chen PDF

By A.H. Chen

ISBN-10: 0762310731

ISBN-13: 9780762310739

11 papers during this quantity current a few present fascinating and significant study in finance. established upon the CAPM, Chen and Kane convey that double taxation and differential tax premiums on a private and capital-gains source of revenue, impact company inventory values and fiscal guidelines in nonneutral methods. Sengupta exhibits tax evasion judgements of a monopolist in a price-ceiling regulatory atmosphere. of their paper, Osterberg and Thomson empirically study the impression of state-level deposit choice legislation on answer kind and prices for all working FDIC-BIF insured advertisement banks that have been closed, or required FDIC monetary assistance, from January 1986 via December 1992. Peek and Wilcox convey that in sessions of foreign monetary crises, or of household financial tension, the government-sponsored firms (GSEs) are well matched to stabilize loan markets.In their paper, Chen, Robinson and Siems empirically convey the organization among banks' subordinated debt and their mortgage revenues actions and its implications within the transmission mechanism of financial coverage. additionally during this quantity, Lin et al. use the Granger causality try to check the linkage among the euro alternate fee and the money offer and GDP within the euro neighborhood, in addition to its influence at the united kingdom alternate expense and the London inventory alternate industry index. of their paper, Kane and Muzere expand the Diamond-Dybvig version of financial institution runs to an open industry economic climate and convey that including the imperative banks and the IMF, promises will lessen, yet no longer get rid of the banking in addition to foreign money crises. The paper by means of Chung et al. empirically indicates the presence of a protracted reminiscence, estate in forex, destiny markets, and discusses its hedging implications. of their paper, Lee, Lee and Yu strengthen a valuation version for the pension gain promises that includes the plan termination stipulations in addition to a stochastic rate of interest. In a case research, Hung et al. empirically exhibit that the particularly designed dividends (SDD) have optimistic indications within the Taiwan inventory alternate. ultimately, of their paper, Guerard and Mark convey that using an R&D quadratic time period complements the mean-variance effective portfolios and stockholder returns.

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Extra resources for Research in Finance, Volume 20 (Research in Finance) (Research in Finance)

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15 Since little case-specific data on receivership costs is available, let alone the marginal receivership cost for each closed institution, we include all three types of resolution costs in the dependent variable for Eq. (4). Net worth (book equity plus reserves) represents the cushion between the value of assets and the promised payments to debt holders, so Predicted Net Worth should be negatively related to costs. Unbooked losses should be positively related to resolution costs and are proxied here by two measures of losses on the asset portfolio, Other Real Estate Owned and Problem Loans (“past-due and non-accruing loans”).

The bridge bank option Depositor Preference Legislation and Failed Banks’ Resolution Costs 51 gives the FDIC more flexibility in resolving closed banks by extending the time it has to weigh its alternative resolution options. 10. Given the small number of open-bank assistance transactions, we group the OBA banks and the P&A banks into a single category. 11. The joint maximum likelihood estimation of Eqs (3) and (4) required the scaling of some of the regressors in Eq. (3), hence, we use the natural logarithm of problem loans in (3).

1993). Forbearance and the valuation of deposit insurance as a callable perpetual put. Journal of Banking and Finance, 16(June), 629–643. , & Berger, A. (1991). Loan commitments and bank risk exposure. Journal of Banking and Finance, 15(September), 173–192. , & Bradley, M. (1990). Determinants of thrift institution resolution costs. Journal of Finance, 45(July), 731–754. Birchler, U.

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Research in Finance, Volume 20 (Research in Finance) (Research in Finance) by A.H. Chen


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