833 resultados para Investment Delay
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This paper characterizes the relationship between entrepreneurial wealth and aggregate investment under adverse selection. Its main finding is that such a relationship need not be monotonic. In particular, three results emerge from the analysis: (i) pooling equilibria, in which investment is independent of entrepreneurial wealth, are more likely to arise when entrepreneurial wealth is relatively low; (ii) separating equilibria, in which investment is increasing in entrepreneurial wealth, are most likely to arise when entrepreneurial wealth is relatively high and; (iii) for a given interest rate, an increase in entrepreneurial wealth may generate a discontinuous fall in investment.
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A-1 Monthly Public Assistance Statistical Report Family Investment Program, October 2006
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A-1 Monthly Public Assistance Statistical Report Family Investment Program, November 2006
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A-1 Monthly Public Assistance Statistical Report Family Investment Program.
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A-1 Monthly Public Assistance Statistical Report Family Investment Program for January 2007
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A-1 Monthly Public Assistance Statistical Report Family Investment Program - February 2007
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A-1 - Monthly Public Assistance Statistical Report Family Investment Program - March 2007
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A-1 - Monthly Public Assistance Statistical Report Family Investment Program - April 2007
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A-1 - Monthly Public Assistance Statistical Report Family Investment Program - May 2007
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A-1 - Monthly Public Assistance Statistical Report Family Investment Program - June 2007
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A-1 - Monthly Public Assistance Statistical Report Family Investment Program - July 2007
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A-1 - Monthly Public Assistance Statistical Report Family Investment Program - August 2007
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Throughout the 19th century and until the mid-20th century, in terms of long-terminvestment in human capital and, above all, in education, Spain lagged far behind theinternational standards and, more specifically, the levels attained by its neighbours inEurope. In 1900, only 55% of the population could read; in 1950, the figure was 93%.This no doubt contributed to a pattern of slower economic growth in which thephysical strength required for agricultural work, measured here through height, had alarger impact than education on economic growth. It was not until the 1970s, with thearrival of democracy, that the Spanish education system was modernized and theinfluence of education on economic growth increased.
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In this paper I analyze the effects of insider trading on real investmentand the insurance role of financial markets. There is a single entrepreneurwho, at a first stage, chooses the level of investment in a risky business.At the second stage, an asset with random payoff is issued and then the entrepreneurreceives some privileged information on the likely realization of productionreturn. At the third stage, trading occurs on the asset market, where theentrepreneur faces the aggregate demand coming from a continuum of rationaluniformed traders and some noise traders. I compare the equilibrium withinsider trading (when the entrepreneur trades on her inside information in theasset market) with the equilibrium in the same market without insider trading. Ifind that permitting insider trading tends to decrease the level of realinvestment. Moreover, the asset market is thinner and the entrepreneur's netsupply of the asset and the hedge ratio are lower, although the asset priceis more informative and volatile.
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A-1 - Monthly Public Assistance Statistical Report Family Investment Program - September 2007
