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Valuation and the Volatility of Financing and Investment [PDF]

, 2010
all projects are funded. In the region of multiplicity, the move from a pooling (socially efficient) equilibrium to a valuation (socially inefficient) equilibrium involves many features of a financial crisis: prices decline (interest spreads rise); real investment declines; unsophisticated investors leave the market (flight to quality) and ...
Jonathan A. Parker, Michael Fishman
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Debt Financing, Corporate Financial Intermediaries and Firm Valuation

The Journal of Finance, 1982
ABSTRACTIn this paper we consider the role of financial intermediaries in the valuation of firms and projects. We show that security prices should reflect both used and unused debt capacity if some corporations can act as financial intermediaries and can capture the tax benefits of debt capacity unused by the operating firm.
Franks, Julian R, Pringle, John J
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Nonlinear Valuation and Non-Gaussian Risks in Finance

2022
What happens to risk as the economic horizon goes to zero and risk is seen as an exposure to a change in state that may occur instantaneously at any time? All activities that have been undertaken statically at a fixed finite horizon can now be reconsidered dynamically at a zero time horizon, with arrival rates at the core of the modeling.
Dilip B. Madan, Wim Schoutens
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Option Valuation with Macro-Finance Variables

Journal of Financial and Quantitative Analysis, 2016
I propose a model in which the price of an option is partly determined by macro-finance variables. In an application using an index of current business conditions, the new model outperforms existing benchmarks in fitting underlying asset returns and in pricing options.
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Projection, valuation, and pricing in social finance

2015
AbstractThe chapter suggests that a significant challenge to the further development of the social finance market is the lack of consistent blended valuations and pricing that allow comparative allocation capital judgements to be made. It aims to address this issue by building a new framework—built upon the foundations of mainstream asset valuation—the
Alex Nicholls, Aunnie Patton
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An overview of project finance binomial loan valuation

Review of Financial Economics, 2009
AbstractSetting project financing parameters, such as the loan to valuation ratio, loan interest rate, repayment schedules, and fees, requires detailed modelling of the resulting credit risk in a non‐recourse setting. Structured credit risk models, based on the early work of Merton, have been developed in continuous time which can assist with project ...
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Technology Valuation and Finance

2022
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Bank Financing: A Blessing or Curse on Firm Valuation?

SSRN Electronic Journal, 2011
Bank financing reduces information friction and has several other contractual benefits for the borrowing firms. There is also cost to this relationship which is the hold-up problem. With hold-up, banks can charge non-competitive rate to relationship borrowers.
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The Investment, Financing, and Valuation of the Corporation.

The Journal of Finance, 1963
J. Fred Weston, Myron J. Gordon
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Corporate Governance in Pakistan: Corporate Valuation, Ownership and Financing

2010
In this study the relationship between corporate governance and corporate valuation, ownership structure and need of external financing for the Karachi Stock Market is examined for the period 2003 to 2008. To measure the firmlevel governance a rating system is used to evaluate the stringency of a set of governance practices and cover various governance
Attiya Y. Javid, Robina Iqbal
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