نتایج جستجو برای: tobin
تعداد نتایج: 563 فیلتر نتایج به سال:
This paper proposes a general equilibrium model that aims at quantifying the distributive effects of anticipated inflation in an incomplete market economy with heterogeneous agents. Based on empirical evidence, this paper assumes a fixed cost to participate in financial markets, which in equilibrium generates a theory of money. Money is a return dominated asset, but also a costless mean to smoo...
Concentration risks, particularly concentrations in credit risk, have played a key role in the financial instability of the banking sector in 2008. This paper examines different objectives in managing credit concentration risk. The suitability of different measures and presentation techniques is discussed and illustrated in the context of a case study. We also look deeper into “measures”, exami...
We investigate an open monetary growth model with sluggish prices and quantities. The model combines the dynamics of Rose's employment cycle and Metzler's inventory cycle with internal nominal dynamics of Tobin and external nominal dynamics of Dornbusch type, implying eight laws of motion, four for the real sector and four for the nominal part. These intrinsically nonlinear 8D-dynamics are asym...
The work of psychologist and author Lauren Slater has elicited strong reactions from both medical professionals and disability studies theorists, ranging from criticism to high praise. Attending to these responses, I argue that her work, in perhaps perverse fashion, can provide a narrative touch point for attempts from both fields to complicate the outdated binary division of the medical and so...
Tobin’s Q model is one of the economic models for evaluation of companies, proposed by Tobin in 1968 and represents the ratio of the market value of the companies’ shares plus the book value of its debts to the book value of its assets. It seems that one reason for the difference in abilities of the above said companies to produce cash from operating and investing activities. Therefore this res...
Sina A. Gharib, Daan W. Loth, María Soler Artigas, Timothy P. Birkland, Jemma B. Wilk, Louise V. Wain, Jennifer Brody, Maen Obeidat, Dana B. Hancock, Wenbo Tang, Rajesh Rawal, H. Marike Boezen, Medea Imboden, Jennifer E. Huffman, Lies Lahousse, Alexessander C. Alves, Ani Manichaikul, Jennie Hui, Alanna C. Morrison, Adaikalavan Ramasamy, Albert Vernon Smith, Vilmundur Gudnason, Ida Surakka, Vero...
This appendix is organized as follows. Section A examines our model’s implication for the risk and return on equity, in particular, on how beta changes with the firm’s cash holdings. Section B studies the comparative statics of the stationary cash-capital ratio distributions. Section C calculates the endogenous average financing costs. Section D presents a model that endogenizes the credit line...
Abstract We develop a model of rational bubbles based on leverage and the assumption an imprecisely known maximum market size. In bubble, traders push asset price above its fundamental value in dynamic way, driven by expectations about future developments. At previously unknown date, bubble will endogenously burst. Households optimally decide whether to lend with limited liability. Bubbles incr...
Large enterprises have been at the forefront of environmental management with active participation in industrywide programs and adoption a ‘beyond compliance’ approach. The present study revisits premise environmental–financial linkage an Indian context focus on large listed enterprises. We develop comprehensive dataset 459 companies covering major manufacturing service sectors economy over ele...
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