Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Trésorerie --- Liquid assets --- Gestion --- management --- budgets --- Entreprise privée --- Private enterprises --- Cash management --- Cash flow --- management.

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Corporate finance --- 658.153 --- Corporations --- -Business corporations --- C corporations --- Corporations, Business --- Corporations, Public --- Limited companies --- Publicly held corporations --- Publicly traded corporations --- Public limited companies --- Stock corporations --- Subchapter C corporations --- Business enterprises --- Corporate power --- Disincorporation --- Stocks --- Trusts, Industrial --- Circulating, floating assets. Business capital. Liquid assets --- Finance --- -Circulating, floating assets. Business capital. Liquid assets --- 658.153 Circulating, floating assets. Business capital. Liquid assets --- -658.153 Circulating, floating assets. Business capital. Liquid assets --- Business corporations --- Business finance --- Capitalization (Finance) --- Corporate financial management --- Corporation finance --- Financial analysis of corporations --- Financial management, Corporate --- Financial management of corporations --- Financial planning of corporations --- Managerial finance --- Going public (Securities)

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This paper describes the contract design and institutional features of an innovative rainfall insurance policy offered to smallholder farmers in rural India, and presents preliminary evidence on the determinants of insurance participation. Insurance takeup is found to be decreasing in basis risk between insurance payouts and income fluctuations, increasing in household wealth and decreasing in the extent to which credit constraints bind. These results match with predictions of a simple neoclassical model appended with borrowing constraints. Other patterns are less consistent with the "benchmark" model; namely, participation in village networks and measures of familiarity with the insurance vendor are strongly correlated with insurance takeup decisions, and risk-averse households are found to be less, not more, likely to purchase insurance. We suggest that these results reflect household uncertainty about the product itself, given their limited experience with it.

Accounting --- Banks and Banking Reform --- Debt Markets --- Federal Reserve Bank of New York --- Finance and Financial Sector Development --- Fixed Costs --- Insurance --- Insurance and Risk Mitigation --- Labor Policies --- Liquid Assets --- Local Financial Institutions --- Microfinance --- Moral Hazard --- Poverty Reduction --- Rural Development --- Rural Poverty Reduction --- Savings --- Social Protections and Labor --- Technical Assistance

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This paper assesses the impact of introducing an efficient payment system on the amount of credit provided by the banking system. Two channels are investigated. First, innovations in wholesale payments technology enhance the security and speed of deposits as a payment medium for customers and therefore affect the split between holdings of cash and the holdings of deposits that can be intermediated by the banking system. Second, innovations in wholesale payments technology help establish well-functioning interbank markets for end-of-day funds, which reduces the need for banks to hold excess reserves. The authors examine these links empirically using payment system reforms in Eastern European countries as a laboratory. The analysis finds evidence that reforms led to a shift away from cash in favor of demand deposits and that this in turn enabled a prolonged credit expansion in the sample countries. By contrast, while payment system innovations also led to a reduction in excess reserves in some countries, this effect was not causal for the credit boom observed in these countries.

Access to Finance --- Bank failures --- Bank of England --- Banking system --- Banking systems --- Bankruptcy and Resolution of Financial Distress --- Banks --- Banks & Banking Reform --- Borrowing costs --- Central banks --- Currencies and Exchange Rates --- Debt Markets --- Demand deposits --- Deposits --- Federal deposit insurance --- Federal reserve system --- Finance and Financial Sector Development --- Interbank markets --- Interest rates --- Liquid assets --- Loan commitments --- Open market operations --- Payment systems --- Settlement systems --- Transition economies --- Transport

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Theoretical papers link the liquidity premium to the optimal trading decisions of investors facing transaction costs. In particular, investors' holding periods determine how transaction costs are amortized and priced in asset returns. Using a unique data set containing two million trades, this paper investigates the relationship between holding periods and transaction costs for 66,000 households from a large discount brokerage. The author finds that transaction costs are an important determinant of investors' holding periods, after controlling for household and stock characteristics. The relationship between holding periods and transaction costs is stronger among more sophisticated investors. Households with longer holding periods earn significantly higher returns after amortized transaction costs, and households that have holding periods that are positively related to transaction costs earn both higher gross and net returns. The author shows that there is correlation in the demand for liquid assets across households and, consistent with the notion of flight to liquidity, this demand increases during times of low market liquidity. Households with higher incomes and with higher wealth invested in the stock market supply liquidity when market liquidity is low.

Brokerage --- Debt Markets --- Economic Theory & Research --- Emerging Markets --- Equity markets --- Finance and Financial Sector Development --- Holding --- Illiquid securities --- Individual investor --- Individual Investors --- International Bank --- Investment Decisions --- Liquid assets --- Liquidity --- Liquidity premium --- Liquidity risk --- Macroeconomics and Economic Growth --- Market liquidity --- Markets and Market Access --- Mutual Funds --- Private Sector Development --- Return --- Returns --- Stock market --- Stocks --- Trading --- Transaction --- Transaction Costs