Another look at the role of the industrial structure of markets for international diversification strategies
Article Abstract:
A study was conducted to analyze the extent to which gains resulting from international diversification strategies in the financial markets are influenced by variations in industrial structure across nations. Results indicated differences in the allocation of variation in industry index returns associated with country and industry factors. Findings also showed that variations in country index returns can be correlated with their industrial structure.
Publication Name: Journal of Financial Economics
Subject: Economics
ISSN: 0304-405X
Year: 1998
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Financial intermediation versus stock markets in a dynamic intertemporal model
Article Abstract:
Static liquidity sharing mechanisms, intragenerational transitions, and intergenerational tradeoffs are examined using an overlapping generations model, assuming endogenous levels of investments that are long term. A self-sustaining mechanism becomes evident, and it is stable across generations. The liquidity needs of the agents and their attitudes to risk affect the outcome of long-term equilibrium using a proposal intergenerational game.
Publication Name: Journal of Institutional & Theoretical Economics
Subject: Economics
ISSN: 0932-4569
Year: 1998
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Information production, dilution costs, and optimal security design
Article Abstract:
Risky debt has optimal security and low information sensitivity. A combination of equity and warrants has high information sensitivity.
Publication Name: Journal of Financial Economics
Subject: Economics
ISSN: 0304-405X
Year: 2001
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