Francesco Caprioli Optimal Fiscal Policy, Limited Commitment and Learning
... Whereas under full commitment the optimal distorting labour income tax is perfectly flat, under limited commitment it responds strongly to the incentives to default of both countries. When the Home Country would have an incentive to default, the tax rate decreases in order to allow for higher consu ...
... Whereas under full commitment the optimal distorting labour income tax is perfectly flat, under limited commitment it responds strongly to the incentives to default of both countries. When the Home Country would have an incentive to default, the tax rate decreases in order to allow for higher consu ...
Credit Rating and Short-Term Debt Financing: Empirical
... fitting in its own risk-type. Especially, given that the small-medium firms have more severe information asymmetry problem than large firms, expansion of possession of credit rating among small-medium firms can minimize distortion in selecting short-term financing structure. This paper investigates ...
... fitting in its own risk-type. Especially, given that the small-medium firms have more severe information asymmetry problem than large firms, expansion of possession of credit rating among small-medium firms can minimize distortion in selecting short-term financing structure. This paper investigates ...
Do Tests of Capital Structure Theory Mean What They Say? ∗
... and thus the value of the firm. For one subset of firms an increase in firm value does not lead to refinancing, and so, leverage decreases, while other firms refinance and their leverage increases. In the cross-section, it is the first subset that dominates. My results allow this effect to be quanti ...
... and thus the value of the firm. For one subset of firms an increase in firm value does not lead to refinancing, and so, leverage decreases, while other firms refinance and their leverage increases. In the cross-section, it is the first subset that dominates. My results allow this effect to be quanti ...
LRI Holdings, Inc. - Investor Relations Solutions
... the comparability, consistency and transparency of financial reporting and to increase the prominence of items reported in other comprehensive income. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2011 (our 2013 fiscal year) and sho ...
... the comparability, consistency and transparency of financial reporting and to increase the prominence of items reported in other comprehensive income. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2011 (our 2013 fiscal year) and sho ...
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
... specialty niche markets. The segment accounted for 42% of both sales and operating income in 2007, with approximately 42% of sales to customers outside the U.S. Banjo. Banjo, acquired in October 2006, is a provider of special purpose, severe-duty pumps, valves, fittings and systems used in liquid ha ...
... specialty niche markets. The segment accounted for 42% of both sales and operating income in 2007, with approximately 42% of sales to customers outside the U.S. Banjo. Banjo, acquired in October 2006, is a provider of special purpose, severe-duty pumps, valves, fittings and systems used in liquid ha ...
Partisan Discrimination in Credit Ratings in Developed Economies
... emergence of news about a country’s fiscal and economic performance, anecdotal evidence (such as the 2011 downgrading of the United States over the debt-ceiling debate or the 2012 collective downgrade of nine Eurozone member states over perceived governance problems within Europe’s common currency a ...
... emergence of news about a country’s fiscal and economic performance, anecdotal evidence (such as the 2011 downgrading of the United States over the debt-ceiling debate or the 2012 collective downgrade of nine Eurozone member states over perceived governance problems within Europe’s common currency a ...
The Aggregate Demand for Treasury Debt
... securities such as corporate bonds, causing the yield on Treasuries to fall further below corporate bond rates, and the bond spread to widen. The opposite applies when the stock of debt is high. Variation in the supply of Treasury securities traces out a downward sloping demand curve for Treasuries ...
... securities such as corporate bonds, causing the yield on Treasuries to fall further below corporate bond rates, and the bond spread to widen. The opposite applies when the stock of debt is high. Variation in the supply of Treasury securities traces out a downward sloping demand curve for Treasuries ...
Part I – Introduction - LSA
... What U.S. tax courts look at to decide if something is debt (page 6 CB) - Why is this impt? B/c tax authorities get very suspicious of certain types of debt - Incentive to say that all of capital structure is debt (b/c can deduct interest payments). 1. Is the instrument labeled a debt instrument? 2. ...
... What U.S. tax courts look at to decide if something is debt (page 6 CB) - Why is this impt? B/c tax authorities get very suspicious of certain types of debt - Incentive to say that all of capital structure is debt (b/c can deduct interest payments). 1. Is the instrument labeled a debt instrument? 2. ...
wns (holdings) limited - corporate
... This release contains forward-looking statements, as defined in the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current expectations and assumptions about our Company and our industry. Generally, these forward-l ...
... This release contains forward-looking statements, as defined in the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current expectations and assumptions about our Company and our industry. Generally, these forward-l ...
FEDEX CORP (Form: 424B3, Received: 01/03/2017 08:57:53)
... determination regarding whether reasonably equivalent value or fair consideration was received or as to what would be the maximum liability of each guarantor or whether this limitation would be effective in protecting a guarantee from being voided under fraudulent transfer laws. We may not be able t ...
... determination regarding whether reasonably equivalent value or fair consideration was received or as to what would be the maximum liability of each guarantor or whether this limitation would be effective in protecting a guarantee from being voided under fraudulent transfer laws. We may not be able t ...
open-end credit under -truth-in- lending
... per month would have to tell its customers not only that the monthly rate is 1 %, but also that the nominal annual rate is 18%.If one monthly percerntage charge were used up to a specified amount, with a different monthly percentage charge on a higher or lower amount, this would have to be disclosed ...
... per month would have to tell its customers not only that the monthly rate is 1 %, but also that the nominal annual rate is 18%.If one monthly percerntage charge were used up to a specified amount, with a different monthly percentage charge on a higher or lower amount, this would have to be disclosed ...
The Impact of Sovereign Ratings on Eurozone SMEs Credit Rationing
... companies, market financing (issued debt or equity) and state grants. Holton et al. (2015) study the determinants of SMEs’ credit access by combining firm micro data from the ECB’s SAFE survey (2009-2011) with macroeconomic variables focusing on simultaneous crises in the real economy (e.g., gross ...
... companies, market financing (issued debt or equity) and state grants. Holton et al. (2015) study the determinants of SMEs’ credit access by combining firm micro data from the ECB’s SAFE survey (2009-2011) with macroeconomic variables focusing on simultaneous crises in the real economy (e.g., gross ...
and Accounts Receivable Methods Percent of
... On July 16, 2011, Barton, Co. has a bank credit card sale of $500 to a customer. The bank charges a processing fee of 2%. Barton remits the credit card sale to the credit card company and waits for the payment that is received on July 28. Jul. 16 Accounts Receivable - Credit Card Co. Credit Card Exp ...
... On July 16, 2011, Barton, Co. has a bank credit card sale of $500 to a customer. The bank charges a processing fee of 2%. Barton remits the credit card sale to the credit card company and waits for the payment that is received on July 28. Jul. 16 Accounts Receivable - Credit Card Co. Credit Card Exp ...
accounts receivable
... Accounts Receivable Issues Companies sell on credit to increase their volume of sales. Accounts where customers will not or cannot pay are called Uncollectible Accounts or Bad Debts. The loss of these amounts is considered an expense of selling on credit Key Issue: What portion of credit sales/a ...
... Accounts Receivable Issues Companies sell on credit to increase their volume of sales. Accounts where customers will not or cannot pay are called Uncollectible Accounts or Bad Debts. The loss of these amounts is considered an expense of selling on credit Key Issue: What portion of credit sales/a ...
AMERCO /NV/ (Form: 10-Q, Received: 11/05/2014
... that is referenced. Our insurance company subsidiaries have a second quarter that ends on the 3 0 of June for each year that is referenced. They have been consolidated on that basis. Our ins urance companies’ financial reporting processes conform to calendar year reporting as required by state insur ...
... that is referenced. Our insurance company subsidiaries have a second quarter that ends on the 3 0 of June for each year that is referenced. They have been consolidated on that basis. Our ins urance companies’ financial reporting processes conform to calendar year reporting as required by state insur ...
NBER WORKING PAPER SERIES INTERNATIONAL RESERVES AND ROLLOVER RISK Javier Bianchi
... are on the order of a few hundred times total GDP. ...
... are on the order of a few hundred times total GDP. ...
Payments on Long-Term Debt As Voidable Preferences
... provided the debt was incurred and the payment was made in the ordinary course of business or financial affairs of the debtor and the transfer was made according to ordinary business terms. 9 As originally enacted, the exception extended only to preferential transfers in payment of a debt incurred a ...
... provided the debt was incurred and the payment was made in the ordinary course of business or financial affairs of the debtor and the transfer was made according to ordinary business terms. 9 As originally enacted, the exception extended only to preferential transfers in payment of a debt incurred a ...
Threat of entry and debt maturity: evidence from airlines
... As an illustrative example, consider Southwest’s entry into Washington Dulles International Airport. Southwest began to fly out of Dulles (IAD) in October 2006, with nonstop flights to four cities in its network, and one-stop service to several others. However, upon entering Dulles Airport, Southwes ...
... As an illustrative example, consider Southwest’s entry into Washington Dulles International Airport. Southwest began to fly out of Dulles (IAD) in October 2006, with nonstop flights to four cities in its network, and one-stop service to several others. However, upon entering Dulles Airport, Southwes ...
Tilburg University The Life Cycle of the Firm with
... of new equity. The return on the initial investment is retained and reinvested during an internal growth phase of the firm. The firm keeps reinvesting its earnings for a while. Eventually, however, the firm stops investing and starts distributing dividends. Sinn's work establishes how the capital in ...
... of new equity. The return on the initial investment is retained and reinvested during an internal growth phase of the firm. The firm keeps reinvesting its earnings for a while. Eventually, however, the firm stops investing and starts distributing dividends. Sinn's work establishes how the capital in ...
Default, rescheduling and inflation : debt crisis in Spain
... from other fascist governments.2 Real public debt fell between 1940 and 1951 in the post war period. The fall initially was influenced by Larraz’s debt rescheduling, however the descent of level of real public debt after 1944 was caused by high inflationist process (graph 3). Franco honoured the fo ...
... from other fascist governments.2 Real public debt fell between 1940 and 1951 in the post war period. The fall initially was influenced by Larraz’s debt rescheduling, however the descent of level of real public debt after 1944 was caused by high inflationist process (graph 3). Franco honoured the fo ...
BELK INC - Investis
... top brands of fine watches and jewelry. During fiscal year 2012, the Company opened three new fine jewelry shops and was operating 149 fine jewelry shops in its stores under the “Belk and Co. Fine Jewelers” name as of the fiscal year end. Marketing and Branding The Company employs strategic marketin ...
... top brands of fine watches and jewelry. During fiscal year 2012, the Company opened three new fine jewelry shops and was operating 149 fine jewelry shops in its stores under the “Belk and Co. Fine Jewelers” name as of the fiscal year end. Marketing and Branding The Company employs strategic marketin ...
First Report on the Public Credit
The First Report on the Public Credit was one of three major reports on fiscal and economic policy submitted by American Founding Father and first United States Treasury Secretary Alexander Hamilton on the request of Congress. The report analyzed the financial standing of the United States of America and made recommendations to reorganize the national debt and to establish the public credit. Commissioned by the House of Representatives on September 21, 1789, the Report was presented on January 9, 1790, at the second session of the First US Congress. The 40,000 word document called for full federal payment at face value to holders of government securities (“Redemption”) and the national government to assume funding of all state debt (“Assumption”) The political stalemate in Congress that ensued led to the Compromise of 1790, locating the permanent US capitol on the Potomac River (""Residency”).The Federalist's success in winning approval for Hamilton’s reforms led to the emergence of an opposition party – the Democratic-Republicans and set the stage for political struggles that would persist for decades in American politics.