Ebook: Risk and Capital: Proceedings of the 2nd Summer Workshop on Risk and Capital Held at the University of Ulm, West Germany June 20–24,1983
- Tags: Finance/Investment/Banking
- Series: Lecture Notes in Economics and Mathematical Systems 227
- Year: 1984
- Publisher: Springer-Verlag Berlin Heidelberg
- Edition: 1
- Language: English
- pdf
This volume invites young scientists and doctoral students in the fields of capital market theory, informational economics, and mana gement science to visualize the many different ways to arrive at a thorough understanding of risk and capital. Rather than focusing on one subject only, the sample of papers collected may be viewed as a representative choice of various aspects. Some contributions have more the character of surveys on the state of the art while others stress original research. We fou~d it proper to group the papers under two main themes. Part I covers information, risk aversion, and capital market theory. Part II is devoted to management, policy, and empirical evidence. Two contributions, we think, deserved to break this allocation and to be placed in a prologue. The ideas expressed by Jost B. Walther, although meant as opening address, draw interesting parallels for risk and capital in genetics and evolution. An old, fundamental pro blem was asked and solved by Martin J. Beckmann: how does risk affect saving? The wise answer (Martin's 60th birthday is in July 1984) is both smart and simple, although the proof requires sophisticated dynamic programming. As always, such a work must be the result of a special occasion.
Content:
Front Matter....Pages N2-VII
Opening Address....Pages 1-4
Risk and Saving....Pages 5-12
Front Matter....Pages 13-13
The Impacts of Variance Reducing Strategies in Dyopolistic Capital Markets....Pages 15-32
Notes on Costless Financial Signalling....Pages 33-51
Variable Information and Capital Market Equilibria....Pages 52-63
Diffusion Process Specifications for Interest Rates....Pages 64-73
Mis-Specifications in Portfolio Selection Problems....Pages 74-87
Increasing Multivariate Risk: Some Definitions....Pages 88-102
A Firm in Statu Nascendi — Initial and Final Shareholders....Pages 103-121
A Consistent Model for the Pricing of Derivative Assets in a Discrete Time Framework....Pages 122-137
Front Matter....Pages 138-138
Credit Contracts, Collateral-Based Security Agreements, and Bankruptcy....Pages 139-159
Reserve Levels and Reserve Requirements for Profit-Maximizing Insurance Firms....Pages 160-180
Financial Planning Via Stochastic Programming: A Stochastic Flows-With-Gains Approach....Pages 181-197
Corporate Planning and Capital Maintenance....Pages 198-202
Optimization Models for Distribution Planning....Pages 203-223
Stock Market Research in Germany: Some Empirical Results and Critical Remarks....Pages 224-242
Quantity Rationing of Economic Transactions in a Risky Environment....Pages 243-270
Financial Risk and Capital Structure: Theory and Practice in an International Context....Pages 271-284
Up the Down Staircase: The Productivity Decline and Strategies for Recovery....Pages 285-306
Back Matter....Pages 307-309
Content:
Front Matter....Pages N2-VII
Opening Address....Pages 1-4
Risk and Saving....Pages 5-12
Front Matter....Pages 13-13
The Impacts of Variance Reducing Strategies in Dyopolistic Capital Markets....Pages 15-32
Notes on Costless Financial Signalling....Pages 33-51
Variable Information and Capital Market Equilibria....Pages 52-63
Diffusion Process Specifications for Interest Rates....Pages 64-73
Mis-Specifications in Portfolio Selection Problems....Pages 74-87
Increasing Multivariate Risk: Some Definitions....Pages 88-102
A Firm in Statu Nascendi — Initial and Final Shareholders....Pages 103-121
A Consistent Model for the Pricing of Derivative Assets in a Discrete Time Framework....Pages 122-137
Front Matter....Pages 138-138
Credit Contracts, Collateral-Based Security Agreements, and Bankruptcy....Pages 139-159
Reserve Levels and Reserve Requirements for Profit-Maximizing Insurance Firms....Pages 160-180
Financial Planning Via Stochastic Programming: A Stochastic Flows-With-Gains Approach....Pages 181-197
Corporate Planning and Capital Maintenance....Pages 198-202
Optimization Models for Distribution Planning....Pages 203-223
Stock Market Research in Germany: Some Empirical Results and Critical Remarks....Pages 224-242
Quantity Rationing of Economic Transactions in a Risky Environment....Pages 243-270
Financial Risk and Capital Structure: Theory and Practice in an International Context....Pages 271-284
Up the Down Staircase: The Productivity Decline and Strategies for Recovery....Pages 285-306
Back Matter....Pages 307-309
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