A Contribution to the Corporate Finance of Business Cycles

2021 ◽  
Author(s):  
Robert Krainer
Keyword(s):  
Business Cycles ◽  
Corporate Finance

scholarly journals Monetary policy and the time-dimension of firms’ financing structure

2021 ◽  
pp. 177-197
Author(s):  
Guillaume Vuillemey
Keyword(s):  
Monetary Policy ◽  
Business Cycles ◽  
Business Cycle ◽  
Corporate Finance ◽  
Key Words ◽  
Jel Classification ◽  
Austrian Economics ◽  
Time Dimension ◽  
Financing Structure ◽  
Palabras Clave

We offer a sketch of an Austrian theory of corporate finance by studying the structure of firms’ liabilities both on an unhampered market and through a monetary policy-induced business cycle. Building on recent contributions on the time-structure of savings, we show that booms are characterized by increased leverage and higher levels of maturity mismatches for firms. Such fragilities are to be corrected during busts. Key words: Business Cycles, Corporate Finance, Austrian Economics. JEL Classification: B53, E32, G30. Resumen: En este trabajo ofrecemos un esbozo de una teoría austriaca de las finanzas corporativas mediante el estudio de la estructura del pasivo de las empresas, tanto en un contexto de mercado libre puro, como de ciclo económico inducido por la política monetaria. Basándonos en recientes con-tribuciones sobre la estructura temporal de los ahorros, mostramos que los periodos de auge están caracterizados por un aumento del apalancamiento y mayores niveles de descalce de plazos de las empresas. Tales fragilidades deben corregirse durante las recesiones. Palabras clave: Ciclo Económico, Finanzas Corporativas, Economía Austriaca. Clasificación JEL: B53, E32, G30.

A History of Corporate Finance

1997 ◽  
Author(s):  
Jonathan Barron Baskin ◽  
Paul J. Miranti, Jr
Keyword(s):  
Corporate Finance ◽  
History Of

Peculiarities of Modern Dynamics of the Global Economy

2010 ◽  
pp. 78-92 ◽  
Author(s):  
V. Klinov
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Business Cycles ◽  
Global Economy ◽  
Long Waves ◽  
Rapid Expansion ◽  
Business Taxation ◽  
Modern World ◽  
China And India ◽  
World Economic

Rates and factors of modern world economic growth and the consequences of rapid expansion of the economies of China and India are analyzed in the article. Modification of business cycles and long waves of economic development are evaluated. The need of reforming business taxation is demonstrated.

Institutions as the Ordering Factor and as the Destabilizing Force: New Institutional and Post Keynesian Perspectives

2006 ◽  
pp. 102-118 ◽  
Author(s):  
A. Skorobogatov
Keyword(s):  
Economic Policy ◽  
Business Cycles ◽  
Institutional Theory ◽  
Institutional Environment ◽  
Institutional Arrangements ◽  
Economic Stability ◽  
Forward Contracts

The paper is dedicated to the New Institutional and Post Keynesian perspectives on institutions and their relation to economic stability. Embeddedness, institutional environment, and institutional arrangements are considered. Within these institutions conventional expectations, the economic policy and forward contracts are analyzed. Upon these perspectives the author shows a contradictory relation between institutions and the order and develops an institutional theory of business cycles.

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