In many financial institutions, there is a well established practice of measuring the risk of their portfolios in terms of economic capital (cf., e.g. Dev, 2004). Measuring portfolio-wide economic capital, however, is only the first step towards active, portfolio-oriented risk management. For purposes like identification of concentrations, risk-sensitive pricing or portfolio optimization it is ...

Venture capital companies play an important role in the economy of countries and greatly influences economic and employment growth. VC is the provision of capital for companies and entrepreneurs that is prone to leaping and growing value and, of course, a lot of risk. However, the volume of venture capital in our country is far less than the economic capacity. Many of analysts consider having n...

This paper examines the impact of industrial policy on capital structure based on a partial adjustment model of capital structure that incorporates financial flexibility, macroeconomic conditions, economic development as well as firm-level factors. The issue is investigated in the context of Taiwan where industrial policy is widely considered to have played a strategic role in its economic succ...

Capital accumulation is the driving force of urban economic development. Many contemporary urban problems—including rapid land price inflation, greater socio-spatial inequalities, and the stresses of middle-ring suburbs—are traceable to the forms that the accumulation process is taking. Changes in the relationships between industrial capital, financial capital, and property capital underpin the...

Banks argue that holding higher capital will have adverse implications on their lending activities and thereby economic growth. Yet, the effect of a stronger base growth remains largely unsettled. We better capitalized banks improve financial stability conditions and, in dire times, they are able to sustain credit economy containing macroeconomic implications. Using various methods, we test for...