ATOPY
发表于 2025-3-27 00:55:14
Introductionlose abundant information about its fundamental state, cash flows, assets, liabilities etc. If not solvent, the firm has an incentive to hide as much as it can or give a wrong assessment about its fundamental state. In any case the firm’s information is superior compared to those of investors.
繁殖
发表于 2025-3-27 01:59:25
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abduction
发表于 2025-3-27 09:06:41
Model. Together they hold the bonds, which account for the complete liabilities of the firm. If the firm survives, the repayment on bonds is 1. In case of default there is no repayment and the investment is lost. Default occurs if the intrinsic value of the firm θ is below a default point D, which is endogenously determined
平淡而无味
发表于 2025-3-27 09:57:17
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隐藏
发表于 2025-3-27 13:51:07
Holger Schüttrumpf,Lothar Kirschbauerl speculators anticipating the imminent exhaustion of reserves instantly withdraw their money, causing the actual crisis (cf.Krugman 1979). Flood and Garber (1984) gave an analytical solution of a Krugman type model, where arbitrary speculation can lead to a crisis. The “second generation” models sp
讥笑
发表于 2025-3-27 20:40:12
Das Problem der theoretischen Terme,the fundamentals θ (t) and is discounted by factor ρ. The initial values of the fundamentals and the attack are θS = θ (0) and AS = A(0). The overall utility U is the sum of the aggregated discounted instantaneous utility up to terminal time T plus the discounted terminal value.1 The terminal time d
nocturia
发表于 2025-3-27 23:13:32
Massenbewegungen und die Flut im Ahrtalhe interest rate which influences both fundamentals and attack strength. Hence, with one variable the central bank improves fundamentals but also increases stress. The central bank’s role is beyond solely responding to speculative pressure or signaling. Depending on the current state the decision of
Affable
发表于 2025-3-28 03:35:08
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OCTO
发表于 2025-3-28 06:34:33
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小歌剧
发表于 2025-3-28 13:24:36
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