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This article investigates whether a bank regulator should terminate problem banks promptly or exercise forbearance. We construct a dynamic model economy in which entrepreneurs pledge collateral, borrow from banks, and invest in long-term projects. We assume that collateral value has aggregate risk over time, that in any period entrepreneurs can abscond with the projects but lose the collateral, and that depositors can withdraw deposits. We show that optimal regulation exhibits forbearance if the ex-ante probability of collapse in collateral value is sufficiently low, but exhibits prompt termination of problem banks if this probability is sufficiently high. 相似文献
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This study was designed to investigate the influence of lifestyle and apparel evaluative criteria on information search in apparel purchasing decisions among non-employed female consumers. A random sample of non-employed female consumers (n = 476) was collected via a self-administered questionnaire mailed across the nation. Principal Components Factor Analysis with Varimax Rotation was used to reduce the number of lifestyle, evaluative criteria, and information search activity items. As a result of Stepwise Multiple Regression Analyses, it was found that relationships existed among evaluative criteria, lifestyle, and informarion search patterns. Search profiles were developed to describe the four consumer information search patterns in terms of their lifestyle and evaluative criteria. Results will benefit consumers, marketers, and legislators because an understanding of consumer information seeking activities is essential in the design of efficient communication among these three groups. 相似文献
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SOYEON SHIM JOYCE SERIDO LESLIE BOSCH CHUANYI TANG 《The Journal of consumer affairs》2013,47(1):128-152
Using identity theory as a basis for conceptualizing and clustering the financial identity‐processing styles of young adults, this study examines antecedent socialization factors and consequent financial capabilities associated with those clusters. Using two‐timed longitudinal surveys (N = 1,511) of college students, we proposed and confirmed three financial identity‐processing styles, resembling Berzonsky's three identity‐processing styles (i.e., informational, normative, and diffused‐avoidant). Labeled Pathfinders, Followers and Drifters: these three clusters were profiled with respect to their socialization factors and financial capabilities. We concluded that identity theory can be applied to the financial domain, financial identity‐processing styles are influenced by socialization factors (e.g., parents, learning), and these styles have consequences for individuals' financial capabilities (financial knowledge, self‐efficacy, attitudes, and behaviors). Insights from this study may inform the design and implementation of effective financial parenting, financial education and intervention programs, and identify those young adults who may benefit from education and intervention efforts . 相似文献
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In emerging market economies, currency appreciation goes hand in hand with compressed sovereign bond spreads, even for local currency sovereign bonds. This yield compression comes from a reduction in the credit risk premium. Crucially, the relevant exchange rate involved in yield compression is the bilateral U.S. dollar exchange rate, not the trade-weighted exchange rate. Our findings highlight endogenous co-movement of bond risk premia and exchange rates through the portfolio choice of global investors who evaluate returns in dollar terms. 相似文献
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ILHYOCK SHIM 《Journal of Money, Credit and Banking》2011,43(8):1625-1661
The current U.S. bank capital regulation features prompt corrective action, which mandates regulators to intervene in and liquidate banks based on their book‐value capital ratios. To see if prompt corrective action is optimal, I build a dynamic model of repeated interactions between a banker and a regulator. Under hidden choice of risk, private information on returns and limited commitment by the banker, and costly liquidation, I first characterize the optimal incentive‐feasible allocation. I then demonstrate that the optimal allocation is implementable through the combination of a risk‐based deposit insurance premium and a book‐value capital regulation with stochastic liquidation. 相似文献
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ELISABETH A. MAST SOYEON SHIM GEORGE A. MORGAN 《International Journal of Consumer Studies》1991,15(2):133-146
This study was designed to identify potential adopters and non-adopters of videotex shopping. Data (n =205) were collected with a questionnaire following demonstration of a typical use of actual videotex shopping. As compared to non-adopters, potential adopters of videotex shopping were more likely to be social shoppers, price conscious, and were less likely to enjoy catalogue shopping. Potential adopters were also more likely to have prior awareness of videotex, a positive attitude towards merchants/service of videotex shopping and overall videotex services. However, they felt that current or demonstrated videotex shopping information was inadequate. In addition, differences existed between potential adopters and non-adopters in some demographics, videotex service needs and almost all videotex shopping merchandise needs. 相似文献
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