Intertemporal capital budgeting
... a process in which projects compete for allocation from a fixed budget. If a division wants to fund projects beyond its typical allocation, the division uses up ‘‘credit’’ with headquarters. The latter indicates that it is impossible for a division to receive additional funds every period, but rather ...
... a process in which projects compete for allocation from a fixed budget. If a division wants to fund projects beyond its typical allocation, the division uses up ‘‘credit’’ with headquarters. The latter indicates that it is impossible for a division to receive additional funds every period, but rather ...
Uncertainty, Capital Flows, and Maturity Mismatch
... owned by risk neutral entrepreneurs take on short-term foreign debt to finance investment in a portfolio of short- and long-term projects. The long-term technology is more productive but takes two periods to produce a return, so that long-term investments require the firm to engage in maturity misma ...
... owned by risk neutral entrepreneurs take on short-term foreign debt to finance investment in a portfolio of short- and long-term projects. The long-term technology is more productive but takes two periods to produce a return, so that long-term investments require the firm to engage in maturity misma ...
Chapter 11: Saving, Capital Accumulation, and Output
... Dynamics of Capital and Output Capital and Output Dynamics When capital and output are low, investment exceeds depreciation, and capital increases. When capital and output are high, investment is less than depreciation and capital decreases. At low levels of K/N, the “extra bang for the extra buc ...
... Dynamics of Capital and Output Capital and Output Dynamics When capital and output are low, investment exceeds depreciation, and capital increases. When capital and output are high, investment is less than depreciation and capital decreases. At low levels of K/N, the “extra bang for the extra buc ...
Working Capital Management and Firm Profitability
... The study also revealed that SSE financial performance was positively related to efficiency of cash management (ECM), efficiency of receivables management (ERM) and efficiency of inventory management (EIM). Gakure, Cheluget, Onyango and Keraro (2012) analyzed the relationship between working capital ...
... The study also revealed that SSE financial performance was positively related to efficiency of cash management (ECM), efficiency of receivables management (ERM) and efficiency of inventory management (EIM). Gakure, Cheluget, Onyango and Keraro (2012) analyzed the relationship between working capital ...
Understanding the New Tennessee Small Business Investment
... companies without a track record of success due to the same risks that prevent banks from lending to startup and emerging businesses. 5 In the absence of venture capital funds or traditional bank lending, many small businesses are left with few resources from which they can effectively grow their bu ...
... companies without a track record of success due to the same risks that prevent banks from lending to startup and emerging businesses. 5 In the absence of venture capital funds or traditional bank lending, many small businesses are left with few resources from which they can effectively grow their bu ...
Capital Inflows and Exchange Rate Volatility in Korea
... provides an impulse response function based on the model. The impulse response function of the standard VAR model displays the dynamic response of one variable to a shock of another variable, as well as accommodating interaction among the conditional means of the variables in the system. When we use ...
... provides an impulse response function based on the model. The impulse response function of the standard VAR model displays the dynamic response of one variable to a shock of another variable, as well as accommodating interaction among the conditional means of the variables in the system. When we use ...
Channels of international risk-sharing: capital gains versus income
... the ECB Working Paper Series for insightful discussions and comments. Seminar participants at the ECB and at the Jean-Monnet Workshop “Financial Market Integration, Structural Change, Foreign Direct Investment and Economic Growth in the EU25” (Budapest, October 2007) provided insightful feedback. Vi ...
... the ECB Working Paper Series for insightful discussions and comments. Seminar participants at the ECB and at the Jean-Monnet Workshop “Financial Market Integration, Structural Change, Foreign Direct Investment and Economic Growth in the EU25” (Budapest, October 2007) provided insightful feedback. Vi ...
SUNTRUST BANKS INC (Form: FWP, Received: 06
... on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Factors that could cause actual results to differ materially from those described in the forward-looking statements include the following: changes in market interest rates or capital mark ...
... on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Factors that could cause actual results to differ materially from those described in the forward-looking statements include the following: changes in market interest rates or capital mark ...
CATO HANDBOOK CONGRESS FOR
... Governments in Asia were not discouraged from maintaining flawed policies as long as lenders kept the capital flowing. Lenders, for their part, behaved imprudently with the knowledge that government money would be used in case of financial troubles. That knowledge by no means meant that investors di ...
... Governments in Asia were not discouraged from maintaining flawed policies as long as lenders kept the capital flowing. Lenders, for their part, behaved imprudently with the knowledge that government money would be used in case of financial troubles. That knowledge by no means meant that investors di ...
Efficacy of Economic Value Added Concept in Business
... adjustments should only be made to generate returns in a later period, and therefore should also provide an appropriate return. The crucial point of departure for EVA from RI is the adjusting of both NOPAT and CAP for supposed ‘distortions’ in the accounting model of performance. EVAtype adjustments ...
... adjustments should only be made to generate returns in a later period, and therefore should also provide an appropriate return. The crucial point of departure for EVA from RI is the adjusting of both NOPAT and CAP for supposed ‘distortions’ in the accounting model of performance. EVAtype adjustments ...
Adapt_finalEDE (opens in new window)
... The model is designed with regions with small shares of global CO2 emissions in mind, so that the magnitude of realized climate change may be treated as exogenous to the region’s development choices. This is a mild assumption for all developing countries with the exception of China, which currently ...
... The model is designed with regions with small shares of global CO2 emissions in mind, so that the magnitude of realized climate change may be treated as exogenous to the region’s development choices. This is a mild assumption for all developing countries with the exception of China, which currently ...
Full paper - CEP - London School of Economics and Political Science
... The last 30 years have seen a sustained process of financial globalization, with countries around the world opening their capital accounts and joining international financial markets. With the passing of time, both in academic and policy circles an initially benign view toward openness to internatio ...
... The last 30 years have seen a sustained process of financial globalization, with countries around the world opening their capital accounts and joining international financial markets. With the passing of time, both in academic and policy circles an initially benign view toward openness to internatio ...
Capital Structure Policy for Government Businesses
... between the shareholders and board/management of each Government business and agreed in writing in the Statement of Corporate Intent (for State Owned Corporations) or the Statement of Business Intent (for other Government businesses). The policy requires Government businesses to negotiate ordinary d ...
... between the shareholders and board/management of each Government business and agreed in writing in the Statement of Corporate Intent (for State Owned Corporations) or the Statement of Business Intent (for other Government businesses). The policy requires Government businesses to negotiate ordinary d ...
NBER WORKING PAPER SERIES YOUNG WORKERS, OLD WORKERS, AND CONVERGENCE Michael Kremer
... capital grows faster than the interest rate, then human-capital investment will eventually exceed current output and borrowing must also eventually grow faster than the interest rate. Therefore, the discounted value of human capital must also be non-positive in the limit as t goes to infinity. If ut ...
... capital grows faster than the interest rate, then human-capital investment will eventually exceed current output and borrowing must also eventually grow faster than the interest rate. Therefore, the discounted value of human capital must also be non-positive in the limit as t goes to infinity. If ut ...
Adverse Selection, Slow Moving Capital and Misallocation
... complementary to Guerrieri and Shimer (2014) and Chang (2012) who consider economies in which many markets exist simultaneously and firms with higher quality assets trade at higher prices but with lower probability. Our approach differs from theirs in several respects. First, we analyze a production ...
... complementary to Guerrieri and Shimer (2014) and Chang (2012) who consider economies in which many markets exist simultaneously and firms with higher quality assets trade at higher prices but with lower probability. Our approach differs from theirs in several respects. First, we analyze a production ...
Venture Capital Investment and Small Business Affiliation Rules
... A close read of the Small Business Investment Act of 1958 makes it difficult to understand why SBA has failed to exempt VCCs from affiliation. Specifically, Section 103 of the statute states: [A]n investment by a venture capital firm... (i) shall not cause a business concern to be deemed not indepen ...
... A close read of the Small Business Investment Act of 1958 makes it difficult to understand why SBA has failed to exempt VCCs from affiliation. Specifically, Section 103 of the statute states: [A]n investment by a venture capital firm... (i) shall not cause a business concern to be deemed not indepen ...
Is Capital Flight Decisive in Explaining Economic Growth
... The investigation into the implications of capital flight for economic growth has received increasing attention from several researchers. In recent years, considerable interest has arisen in the extent to which capital flight has a detrimental impact on economic development (UNDP, 2011). By taking p ...
... The investigation into the implications of capital flight for economic growth has received increasing attention from several researchers. In recent years, considerable interest has arisen in the extent to which capital flight has a detrimental impact on economic development (UNDP, 2011). By taking p ...
determinants of corporate capital structure in nigeria
... substitutes for the former. Thus, other things being equal, we might expect an inverse relationship between company debt levels and the availability of non-debt tax shield. A further dimension to the issue is provided by the agency literature. This suggests that the various agency cost associated wi ...
... substitutes for the former. Thus, other things being equal, we might expect an inverse relationship between company debt levels and the availability of non-debt tax shield. A further dimension to the issue is provided by the agency literature. This suggests that the various agency cost associated wi ...
Goodwill Capital
... demand schedule for a firm’s product dramatically downward. Such stochastic events might be the introduction of a superior product by a new-firm startup or by a firm’s existing rivals, an event that changes the public’s perception of a product’s quality, and so on.11 Equation (1) implies, of course, ...
... demand schedule for a firm’s product dramatically downward. Such stochastic events might be the introduction of a superior product by a new-firm startup or by a firm’s existing rivals, an event that changes the public’s perception of a product’s quality, and so on.11 Equation (1) implies, of course, ...
Sebastian Edwards Working Paper No. 1507 Massachusetts Avenue Cambridge,
... This paper was written while I was visiting the Country Policy Department of the World Bank during the summer of 1983, and presented at the World Bank Conference, Economic Liberalization: Adjustments During the Transition, Washington, D.C., October 1983. I am indebted to A. Choksi, D. Papageorgiou, ...
... This paper was written while I was visiting the Country Policy Department of the World Bank during the summer of 1983, and presented at the World Bank Conference, Economic Liberalization: Adjustments During the Transition, Washington, D.C., October 1983. I am indebted to A. Choksi, D. Papageorgiou, ...
Sterilisation, Capital Mobility and Interest Rate Determination for
... The trade balance is used to proxy for the current account for which monthly data is difficult to obtain for the sample used here. ...
... The trade balance is used to proxy for the current account for which monthly data is difficult to obtain for the sample used here. ...
PDF
... the capital stock Kt . Figure 1 essentially depicts the cohort efficiency for end year stocks, because only then will this year’s investments (i = 0) enter this year’s capital stock (at the end of the year) with a weight of 1. On the other hand, if we want the stock that is determining this year’s p ...
... the capital stock Kt . Figure 1 essentially depicts the cohort efficiency for end year stocks, because only then will this year’s investments (i = 0) enter this year’s capital stock (at the end of the year) with a weight of 1. On the other hand, if we want the stock that is determining this year’s p ...