Gurdgiev, Constantin T. (2005) Exogenous liquidity supply in presence of repudiation risk and private asset recovery. In: Entrepreneurship and macroeconomic management, April, 28-30, 2005., Pula, Croatia.
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Sažetak
This paper proposes a model of exogenous liquidity supply in the presence of moral hazard to the case that includes private asset recovery under the limited liability of the entrepreneur. In our model, partial private recovery applies to the financial assets that are considered sunk by the investors. In this context, a distressed firm seeking second round financing for its investment project is able, within a limited range of shocks, to increase its private payoff in the case of project default. However, unable to use these funds to raise additional liquidity, the distressed firms face a reduced range of acceptable shock values relative to the standard model set up.
| Tip objekta: | Materijal konferencije ili radionice (Paper) |
|---|---|
| Mentor: | NIJE ODREĐENO |
| Dodatne informacije: | 3/2005, Vol. 1 |
| Ključni pojmovi: | Investment, Asymmetric Information, Moral Hazard, Repudiation Risk, Limited Liability, investicije, asimetrične informacije, moralna opasnost. |
| Teme: | 3 Društvene znanosti > 33 Ekonomija. Ekonomska znanost > 339 Trgovina. Međunarodni gospodarski odnosi. Svjetsko gospodarstvo > 339.7 Međunarodne financije > 339.727.22 Uvoz kapitala. Priljev kapitala. Strana ulaganja |
| Odjeli: | Odjel za ekonomiju i turizam "Dr. Mijo Mirković" |
| Datum pohrane: | 17 Oct 2012 11:26 |
| Zadnja promjena: | 19 Nov 2012 13:08 |
| URI: | http://eknjiznica.unipu.hr/id/eprint/1434 |
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