Global ETD Search
Search theses and dissertations gathered from participating repositories worldwide. Every result links back to the library that holds it. No account is needed.
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Showing 1 to 20 of 245 for “"Capital Markets"”.
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Essays in capital markets
This thesis consists of three essays in capital markets. In the first essay, given a European derivative security with an arbitrary payoff function and a corresponding set of underlying securities on which the derivative security is based, we solve the optimal-replication problem: find a …
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Essays in capital markets
… of features that have characterized financial markets in the past three decades: substantial financial innovation; a sharp increase in investor participation; improved risk management practices; an increase in interest rates; and a reduction in the risk premium. In the second chapter, we study …
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Essays in capital markets
(cont.) Slow information diffusion can cause return momentum. Institutions are thought to be more informed than individuals, and should eliminate return predictability. However, higher institutional ownership is associated with more momentum. Therefore, institutions either herd on returns or can …
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Essays in capital markets
This thesis consists of three essays in capital markets. The first essay presents a dynamic asset pricing model with heterogeneously informed agents. Unlike previous research, the general case where differential information leads to the problem of "forecasting the forecasts of others" and to …
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Essays in capital markets
In the first chapter, I provide evidence that investment-specific technological change is a source of systematic risk. In contrast to neutral productivity shocks, the economy needs to invest to realize the benefits of innovations in investment technology. A positive shock to investment technology …
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Essays in capital markets
… of this dissertation study financial asset markets which are not "frictionless." The first chapter focuses on the effects of transaction costs. The second chapter focuses on the interaction between asymmetric information and strategic behavior. The third chapter empirically assesses the …
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Essays in Leveraged Capital Markets
<p>The debt capital markets for leveraged borrowers are ripe with information asymmetry, lender specialization, and borrower segmentation. In this dissertation, I explore how these factors manifest themselves and the economic consequences thereof. Essay 1 shows that adverse selection and moral …
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Internal Capital Markets And Bank Relationship - Evidence From Japanese Corporate Spin-offs.Internal Capital Markets, Investment
… consists of two studies related to internal capital markets and bank relationship using Japanese corporate spin-offs. The first study analyzes the relation between internal capital markets and banks by examining 137 Japanese corporate spin-offs created between the years 2001 and 2003 (since …
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Three Essays in Capital Markets Research
The third essay estimates firms' intrinsic value using the accounting-based valuation model and examines the predictive power of the estimated value for future stock returns. The key empirical issue of the model is to estimate future residual income. While most research has relied on the earnings …
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Firm access to capital markets in Europe
… firm level data under different stances of the capital market structure and different consequences from the creation of a single currency regime. This is a comparative empirical study of 14 European countries between 1992 and 2005. Using firm level data and a series of large panel of bank …
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An analysis of Russian equity capital markets
… as measured by its liquidity, free float capitalization and industry concentration. In order to stimulate the development of the market, the paper focuses on the attraction of long term capital to sustainably increase the size and liquidity of the market and reduce volatility. A set of …
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Optimal intertemporal decisions in imperfect capital markets
… for both, firms operating in perfect financial markets and those facing credit constraints, due to imperfect capital markets. However, as in these markets, saving and investment decision may not be separable, we obtain the optimal dynamic path of these decisions for agents that own capital but …
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Essays on Imperfections in Money and Capital Markets
The first essay explores the demand for M1, M3 and broad money (BM) and economic uncertainty in Australia over the period 1976:2-2008:4. The results suggest that we have evidence of cointegration between money, economic activity, interest rate and price for the pre-deregulation sub-period. The …
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Capital markets development and economic growth in eSwatini
Capital markets within Eswatini have continued to grow, predominantly in size, as evidenced by leaps in the capitalisation of both equity and debt available to trade over recent years. That said, they remain relatively underdeveloped, driven by inefficiencies stemming from low levels of liquidity, …
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Role of capital markets in global infrastructure finance
Thesis (M.S.)--Massachusetts Institute of Technology, Dept. of Civil and Environmental Engineering, 1996.
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Information frictions and the integration of international capital markets
… with information frictions in the international capital market. Study I examines the impact of loosening disclosure requirements initiated by Rule 12h-6 on firm innovation. Using a difference-in-differences (DID) research design, I predict and find that cross-listed firms experience a significant …
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Information frictions and the integration of international capital markets
… with information frictions in the international capital market. Study I examines the impact of loosening disclosure requirements initiated by Rule 12h-6 on firm innovation. Using a difference-in-differences (DID) research design, I predict and find that cross-listed firms experience a significant …
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Disclosure quality in capital markets from the perspective of analysts
… evaluations of disclosure quality. I investigate capital market reaction when firms experience a sustained decrease in analyst disclosure ratings. The results demonstrate that firms with deteriorating disclosure experience negative consequences, consistent with increasing information asymmetry. …
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Capital Markets in the Development Process: The Case of Brazil
Financial growth has been viewed as a sine qua non for stable economic growth (see especially McKinnon, 1987, and Shaw, 1972). Since 1964, Brazilian policy makers have actively promoted financial market growth not only through the more traditional interest rate liberalization scheme (indexing) but …
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Nonlinear modeling of time series prediction in the capital markets
Thesis (M.B.A.)--Massachusetts Institute of Technology, Sloan School of Management, 1995.
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