Liquidity Shortages and Inefficient Bank Lending
This paper develops a simple model of bank lending and liquidity shortages. Firms borrow from banks in the form of long term renegotiable deposit...
Asymmetric Information and the Trade-Off Between Cash Flow and Net Present Value
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Long-Term Financial Contracts May Mitigate the Adverse Selection Problem in Project Financing
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An Economic Evaluation of Insolvency Procedures in the United Kingdom: Does the 1986 Insolvency Act Satisfy the Creditor's Bargain?
The creditors' bargain view of insolvency law argues that solvency state rights should be preserved in insolvency states. It argues that insolvency...
Credit Markets with Endogenous Project Size and Asymmetric Information; The Case for Interest Rate Taxes
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Asymmetric Information Risk Aversion and Capital Market Efficiency
The Arrow-Lind Theorem is generally interpreted as implying that risk-averse investors will reject some projects that the public sector is justified...
Imperfect Annuities Markets with Asymmetric Information: Who Leaves Unplanned Bequests?
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Does the 1986 Insolvency Act Satisfy The Creditors' Bargain?
The creditors' bargain view of insolvency law argues that solvency state rights should be preserved in insolvency states. It argues that insolvency...
The Reorganisation of the London Stock Market: The Causes and Consequences of Big-Bang
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Credit Market Efficiency and Tax Policy in the Presence of Screening Costs
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