Financial Economics and Insurance Economics
Economics of Information
Corporate Finance and Financial Markets
This paper explains why institutional reforms often fail to stimulate investment despite improving long-run fundamentals. We develop a real options...
This paper introduces a dynamic model of corporate investment that integrates misreporting incentives with leverage and growth option timing. Unlike...
This paper provides a novel efficiency rationale for progressive corporate taxation based on commitment problems in entrepreneurial finance. Poor...
This paper analyses how firms respond to liquidity shocks when asset prices are endogenously determined through matching frictions. Building on...
We analyse how public health insurance affects private insurance markets in mixed public-private systems. Extending the standard selection framework...
This paper presents a general equilibrium analysis on the interactions between pen- sion plan funding, capital structure, technology choice and the...
Within an asymmetric information set-up in which individuals differ in terms of their risk aversion and can choose whether or not to take preventative...
Compensation schemes often reward success but do not penalize failure. Fixed salaries with stock options or bonuses have this feature. Yet the...
