Security Pricing in an Imperfect Capital Market

Based on the recent European regulatory policies on non-performing loans (NPL), the dissertation ‘Non-Performing Loans: Determinants—Default—Divestiture’ presents four stand-alone research papers on the determinants, default and divestiture of NPL, which explore the effectiveness of the proposed restructuring mechanisms. To begin with, determinants of the situation described by the term NPL are diligently examined, with the author employing a systematic literature review at the levels of macroeconomics, banks and loans. Subsequently, three empirical research studies are devoted to an analysis of security pricing in reaction to NPL divestiture activity in the European equity and debt capital market. The results offer the banking industry as well as the EU and its member states a nuanced idea of how to deal with large amounts of risky assets in times of constantly changing economic circumstances.

Download Full-text

Role of Capital Market in the Economic Development of Pakistan

PsycEXTRA Dataset ◽

10.1037/e719822011-006 ◽

2009 ◽

Author(s):

Abdul Majeed Shuja

Keyword(s):

Economic Development ◽

Capital Market

Download Full-text

External Factors of Big Business Transformation in Russia

Voprosy Ekonomiki ◽

10.32609/0042-8736-2005-10-72-89 ◽

2005 ◽

pp. 72-89 ◽

Cited By ~ 1

Author(s):

Ya. Pappe ◽

Ya. Galukhina

Keyword(s):

Financial Market ◽

Capital Market ◽

Business Groups ◽

External Factors ◽

Big Business ◽

Business Transformation ◽

Global Standards ◽

The World ◽

Principal Subject

The paper is devoted to the role of the global financial market in the development of Russian big business. It proves that terms and standards posed by this market as well as opportunities it offers determine major changes in Russian big business in the last three years. The article examines why Russian companies go abroad to attract capital and provides data, which indicate the scope of this phenomenon. It stresses the effects of Russian big business’s interaction with the world capital market, including the modification of the principal subject of Russian big business from integrated business groups to companies and the changes in companies’ behavior: they gradually move away from the so-called Russian specifics and adopt global standards.

Download Full-text

Institutional Investors on the Securities Market

Voprosy Ekonomiki ◽

10.32609/0042-8736-2003-8-95-101 ◽

2003 ◽

pp. 95-101

Author(s):

O. Khmyz

Keyword(s):

Financial Crisis ◽

Capital Market ◽

Hedge Funds ◽

Institutional Investors ◽

Securities Market ◽

Main Role ◽

Investment Funds ◽

Investment Process ◽

The Capital Market

Acording to the author's opinion, institutional investors (from many participants of the capital market) play the main role, especially investment funds. They supply to small-sized investors special investment services, which allow them to participate in the investment process. However excessive institutialization and increasing number of hedge-funds may lead to financial crisis.

Download Full-text