This paper presents a model in which a high growth economy becomes susceptible to a sudden financial crisis. In the model firms are motivated to over-invest because of government subsidies and then bear the burden of the inefficiencies caused by the government distortion. We assume that the firms compensate for their losses by obtaining bank loans and domestic banks will continuously lend money...

This thesis studies a range of topics in empirical corporate finance, and consists of three essays. The first essay is sole-authored and is titled ‘The Value of Social Networks during Periods of Distress.’ The second essay ‘The Role of Investment Banker Directors in M&A: Can Experts Help?’ is a joint work with Feng Jiang, Erik Lie, and Ke Yang. The third essay is titled ‘Acquisitions of Financi...

BACKGROUND Assessing turnaround times can help to analyse workflows in hospital information systems. This paper presents a systematic review of literature concerning different turnaround time definitions. Our objectives were to collect relevant literature with respect to this kind of process times in hospitals and their respective domains. We then analysed the existing definitions and summarise...

I n mid-1998, St. John's Regional Medical Center, Joplin, M O , found itself in a financial crisis. As a result, St. John's board of directors and its parent system, Cathol ic Health Init iat ives ( C H I ) , Denver, were forced to make a set of critical decisions to avert economic disaster. To recover its market dominance, St. John's new leaders obviously needed to launch and carry through a m...

The CLASS model is a top-down capital stress testing framework that uses public data, simple econometric models, and auxiliary assumptions to project the effect of macroeconomic scenarios on U.S. banking firms. Through the lens of the model, we find that the total banking system capital shortfall under stressful macroeconomic conditions began to rise four years before the financial crisis, peak...

This paper examines the link between multinational enterprises and employment growth at the plantlevel. We investigate in detail the comparative response of multinationals and domestic firms to an economic crisis, using the empirical setting of a well defined case of economic slowdown in Chile as a natural experiment. In our empirical analysis we find that employment growth in manufacturing pla...

countries. They were viewed as models for advances in technology and economic improvement. In the summer and fall of 1997, however, they experienced financial problems, leading to what is commonly referred to as the “Asian crisis,” and resulting in bailouts of several countries by the International Monetary Fund (IMF). Much of the crisis is attributed to the substantial depreciation of Asian cu...

The sharp decline in the once-stellar performance of East Asian corporations following the 1997 financial crisis has sparked an intense debate. Some observers argue that external shocks, including a drop in aggregate demand and a shortage of working capital, explain the corporate sector’s poor performance. Others assert that the difficulties were apparent well before the crisis and that the ris...

In the last decade or so, human geographers have paid greater attention to the significance of discourses. We acknowledge the importance of discursive constructions and metaphorical representations of economic space, and extend the argument by examining the practices that may follow from such discourses. With use of empirical data from a firm-level survey and interviews with representatives of ...