De Nederlandsche Bank Research Paper Series最新文献_第8页

Confidence Building on Euro Convergence: Theory and Evidence from Currency Options 欧元趋同的信心构建:来自货币期权的理论和证据

De Nederlandsche Bank Research Paper Series Pub Date : 2003-10-01 DOI: 10.2139/ssrn.463081

E. Perotti, Joost Driessen

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引用次数: 6

MAKMODEL: A Macro-Econometric Model for the Republic of Macedonia MAKMODEL:马其顿共和国的宏观计量经济模型

De Nederlandsche Bank Research Paper Series Pub Date : 2001-08-09 DOI: 10.2139/ssrn.1861226

Leo J. de Haan, Aneta Naumovska, M. Peeters

引用次数: 8

Capital Controls and Exchange Rate Regimes: An Empirical Investigation 资本管制与汇率制度:实证研究

De Nederlandsche Bank Research Paper Series Pub Date : 2001-03-01 DOI: 10.2139/ssrn.267833

Helge Berger, J. Sturm, J. de Haan

引用次数: 8

Co-Movements in Long-Term Interest Rates and the Role of Ppp-Based Exchange Rate Expectations 长期利率的共同变动和基于购买力平价的汇率预期的作用

De Nederlandsche Bank Research Paper Series Pub Date : 1999-06-01 DOI: 10.5089/9781451850345.001.A001

J. Berk, K. Knot

引用次数: 5

Investment and Financing in Russian Financial-Industrial Groups 俄罗斯金融产业集团的投融资

De Nederlandsche Bank Research Paper Series Pub Date : 1997-11-01 DOI: 10.2139/ssrn.50346

E. Perotti, S. Gelfer

{"title":"Investment and Financing in Russian Financial-Industrial Groups","authors":"E. Perotti, S. Gelfer","doi":"10.2139/ssrn.50346","DOIUrl":"https://doi.org/10.2139/ssrn.50346","url":null,"abstract":"We study whether Russian Financial-Industrial Groups help the Russian industrial sector to obtain investment finance. We examine the set of firms which are members of official Financial Industrial Groups and/or are owned by one of the large Russian banks, and compare them with a set of other large firms categorized by dispersed ownership or/and management and employee control. We find that investment is sensitive to internal liquidity for the second set of firms but not for the first. This is consistent with extensive reallocation of resources within the groups. One possibility is that group firms have easier access to finance than independent firms, suggesting that financial groups may alleviate agency problem and result in better corporate control over the investment process. Interestingly, large independent firms with a significant stock market valuation and trading appear also less liquidity constraints, suggesting that the Russian equity market may start to provide a positive function. The possibility for opportunistic value transfer across firms is harder to assess. In future research we plan to distinguish between bank-led groups, which appear more hierarchical, and industry-centered groups which may be more defensive.","PeriodicalId":154291,"journal":{"name":"De Nederlandsche Bank Research Paper Series","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1997-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114789935","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 7

The Feldstein-Horioka Test of International Capital Mobility: Is it Feasible? 国际资本流动的费尔德斯坦-堀冈检验是否可行?

De Nederlandsche Bank Research Paper Series Pub Date : 1996-09-01 DOI: 10.5089/9781451852356.001

W. Jansen

引用次数: 15