Results 151 to 160 of about 15,112 (311)
"Strategic Default Jump as Impulse Control in Continuous Time" [PDF]
This paper presents a new approach for modeling an optimal debt contract in continuous time. It examines a competing contract design in a continuous-time environment with Markov income shocks and costly veri able information.
Hisashi Nakamura
core
Impact of Sovereign Debt Maturity on Fiscal Sustainability
International Journal of Finance &Economics, EarlyView.ABSTRACT This study is the first to investigate the impact of the term structure of public debt on fiscal sustainability. We adopt the widely used backward‐looking measure of fiscal sustainability—fiscal responsiveness as proposed by Bohn. Using data from De Graeve and Mazzolini and focusing on a sample of 19 most developed countries, we demonstrate ...
António Afonso +3 more
wiley +1 more source
Risk Sharing with the Monarch: Contingent Debt and Excusable Defaults in the Age of Philip II, 1556-1598 [PDF]
Contingent sovereign debt can create important welfare gains. Nonetheless, there is almost no issuance today. Using hand-collected archival data, we examine the first known case of large-scale use of state-contingent sovereign debt in history.
Voth, Hans-Joachim, Drelichman, Mauricio
core
Does Digital Banking Promote Remittance Receipts? Evidence From Developing Countries
International Journal of Finance &Economics, EarlyView.ABSTRACT In the realm of technological advancement, like many sectors, the financial sector swiftly embraced digital transformation to help facilitate financial transactions, especially remittance receipts. The digitalisation of the banking sector has made transfers and access to funds quite easier, faster, and more economical by reducing transaction ...
Syed Ali Abbas +2 more
wiley +1 more source
An Empirical Analysis of Equity Default Swaps (II): Multivariate Insights [PDF]
Equity default swaps (EDS) - contracts that trigger a payment when the underlying equity price falls below a predetermined level - have attracted much attention recently because of their similarities to credit default swaps (CDS) on the one hand, and ...
Norbert_Jobst, Arnaud_de_Servigny
core
Exchange Rates and Sovereign Risk: A Nonlinear Approach Based on Local Gaussian Correlations
International Journal of Finance &Economics, EarlyView.ABSTRACT We empirically assess the interlinkages between sovereign risk, measured in terms of CDS spreads, and exchange rates for a sample of emerging markets. Our period of analysis includes episodes of severe stress, such as the Global Financial Crisis, the COVID‐19 pandemic, and the Ukrainian War.
Reinhold Heinlein +2 more
wiley +1 more source
Sustainability Incentives and Value Creation in Corporate Acquisitions
International Journal of Finance &Economics, EarlyView.ABSTRACT Using an extended international sample of domestic and cross‐border mergers and acquisitions (M&A), this paper provides the first comprehensive examination of the role of ESG‐linked executive compensation in the market for corporate control.
Athanasios Tsekeris
wiley +1 more source
Debt Maturity: Is Long-Term Debt Optimal? [PDF]
We model and calibrate the arguments in favor and against short-term and long-term debt. These arguments broadly include: maturity premium, sustainability, and service smoothing.
Laura Alfaro, Fabio Kanczuk
core
The Relevance of Apology to Reparations for Historical Injustice
Journal of Applied Philosophy, EarlyView.ABSTRACT This article explains the centrality of apology to an adequate account of reparations. I look in depth at what goes on in apology. As I have previously argued, apology is an expressive action through which we seek to mark adequately the significance of our own wrongdoing. I claim that apology so understood is not merely ornamental.
Christopher Bennett
wiley +1 more source
Disrupting the Chain of Displaced Aggression: A Review and Agenda for Future Research
Journal of Organizational Behavior, EarlyView.ABSTRACT Displaced aggression refers to instances in which a person redirects their harm‐doing behavior from a primary to a secondary, substitute target. Since the publication of the first empirical article in 1948, there has been a noticeable surge in research referencing this theory in both management and psychology journals.
Constantin Lagios +4 more
wiley +1 more source