Contingent Claims, Personal Loans and the Irrelevance of Corporate Financial Structure

Article Abstract:

The relationship of a firm's market value and their choice of debt-equity ratio is examined in a world with bankruptcy. The role of intertemporal arbitrage is emphasized. Corporate financial structure is irrelevant if individuals can obtain securities which the levered firms issue. Agents maximize their wealth subject to opportunities in either bonds or stocks. Firms' financing decisions may affect wealth distributions.

Evaluation, Finance, Markets (Economics), Corporations, Corporate finance

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Conceptual issues and the Australian experience with income contingent charges for higher education

Article Abstract:

An analysis of the effects of the Higher Education Contribution Scheme on the Australian education system reveals that the system is very effective in addressing the financial needs of the educational system while maintaining accessibility. The system addresses such questions as the proper arrangements, accessibility consequences for the financially disadvantaged and revenue implications.

Administration of Education Programs, Education Programs, All Other Miscellaneous Schools and Instruction, Higher Ed Special Institutions, Australia, Social policy, Education policy, Schools, Education, Higher, Higher education, Higher education and state

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Political economy and contingent protection

Article Abstract:

Significant attention has been given to the political economy of protection, which has arisen due to the differences between what policy makers do and what economists teach. Anti-dumping and countervailing duty measures are some of the unilateral protectionist measures being increasingly used. Contingent protection is slowly becoming a trade restricting mechanism.

Analysis, Laws, regulations and rules, International trade, Protectionism, Antidumping duties

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