Showing papers on "Financial risk published in 1970"
Book•
01 Jan 1970
TL;DR: The function of financial markets the flow of funds system foundations for interest rates inflation and returns the term structure of interest rates price volatility coupon rate and maturity the default risk structure of investment rates derivative securities - options embedded options - call, mortgage repayment and sinking funds controlling currency risk the influence of taxes the social allocation of capital.
Abstract: The function of financial markets the flow of funds system foundations for interest rates inflation and returns the term structure of interest rates price volatility coupon rate and maturity the default risk structure of interest rates derivative securities - options embedded options - call, mortgage repayment and sinking funds controlling currency risk the influence of taxes the social allocation of capital.
171 citations
TL;DR: In this paper, a useful distinction is made between business risk associated with uncertainty of receipts generated by a firm's assets and financial risk defined as the probability of incurring penalty costs stemming from liability claims on assets and asset yields.
Abstract: A useful distinction is sometimes maintained between business risk associated with uncertainty of receipts generated by a firm's assets and financial risk defined as the probability of incurring penalty costs stemming from liability claims on assets and asset yields. In fact, disagreement in recent literature on the exact role of capital structure in market valuation of business firms is easily interpreted once the risk assumptions of the literature such as perfect certainty, business risk, and financial risk have been identified.
24 citations
Posted Content•
01 Jan 1970
TL;DR: In this paper, a useful distinction is made between business risk associated with uncertainty of receipts generated by a firm's assets and financial risk defined as the probability of incurring penalty costs stemming from liability claims on assets and asset yields.
Abstract: A useful distinction is sometimes maintained between business risk associated with uncertainty of receipts generated by a firm's assets and financial risk defined as the probability of incurring penalty costs stemming from liability claims on assets and asset yields. In fact, disagreement in recent literature on the exact role of capital structure in market valuation of business firms is easily interpreted once the risk assumptions of the literature such as perfect certainty, business risk, and financial risk have been identified.
3 citations
TL;DR: In this article, the authors argue that in most infrastructure projects, the government has to take up a leading role in managing the development of strategic infrastructure, and discuss the value of an integrated approach linking the public and private sectors in infrastructure investment.
Abstract: The article argues that in most infrastructure projects, the government has to take up a leading role in managing the development of strategic infrastructure. This article also discusses the value of an integrated approach linking the public and private sectors in infrastructure investment. Such an integrated approach reflects both the need to build agreement between various interested parties, and also the strength of the private sector, whose forces may be effectively combined with foreign ventures. By so doing the investment risk can be minimised and maximum market efficiency can be achieved
1 citations