Inarguably, the escalation in dollar rates and price instability Nigerian economy underwent significant structural institutional changes. In assessing importance of understanding exchange rates, it becomes imperative to build reliable models for predicting volatility home currency. Hence, this study aims model rate using Markov regime-switching model. The analyses returns two three distinct reg...

T HREE OF THE petitioners in Moffatt v. Commissioner,' owners of all the stock of Moffatt & Nichol, Inc., an engineering consulting firm, employed an independent accountant to study the tax problems presented by that firm's accumulation of substantial undistributed earnings. In accordance with the accountant's recommendation, a new firm was incorporated to handle all new business and to perform...

We study the optimal portfolio liquidation problem over a finite horizon in a limit order book with bid-ask spread and temporary market price impact penalizing speedy execution trades. We use a continuous-time modeling framework, but in contrast with previous related papers (see e.g. [24] and [25]), we do not assume continuous-time trading strategies. We consider instead real trading that occur...

Abstract We present a dynamic, continuous-time model in which risk averse inside equityholders set bank’s lending, payout, and financing policies, the exposure of bank assets to crashes. examine whether bailouts encourage excessive lending taking compared liquidation or bail-ins with debt-to-equity conversion debt write-downs. The effects prevailing insolvency resolution mechanism (IRM) on prob...

This article provides evidence of the relations between disclosures in management report conditions that could challenge continuance operations, auditors' going concern reporting and likelihood bankruptcy for privately held firms an environment characterized by low litigation risk. We conduct a matched case–control study using data 125 filing liquidation non-bankrupt firms. The results show mod...