Municipal Borrowing Costs and the Differential Impact of Accounting Information Across Rating Categories PDF Download
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Author: Earl D. Benson
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Prior research (Wallace, 1981 Wilson and Howard, 1984) has implicitly assumed that the impact of accounting information on municipal borrowing costs is the same across all bond rating groups. This paper provides empirical evidence that the demand for accounting information is a function of default risk and suggests a means for improving the power of bond default risk models to detect accounting effects.
Author: Earl D. Benson
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Prior research (Wallace, 1981 Wilson and Howard, 1984) has implicitly assumed that the impact of accounting information on municipal borrowing costs is the same across all bond rating groups. This paper provides empirical evidence that the demand for accounting information is a function of default risk and suggests a means for improving the power of bond default risk models to detect accounting effects.
Author: Naomi Enid Slack
Publisher: UN-HABITAT
ISBN: 9211321131
Category : Municipal finance
Languages : en
Pages : 90
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Book Description
Author: Jean Louis Heck
Publisher: McGraw-Hill Companies
ISBN:
Category : Business & Economics
Languages : en
Pages : 470
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Book Description
Author: Mr.Udaibir S. Das
Publisher: International Monetary Fund
ISBN: 1475505531
Category : Business & Economics
Languages : en
Pages : 128
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Book Description
This paper provides a comprehensive survey of pertinent issues on sovereign debt restructurings, based on a newly constructed database. This is the first complete dataset of sovereign restructuring cases, covering the six decades from 1950–2010; it includes 186 debt exchanges with foreign banks and bondholders, and 447 bilateral debt agreements with the Paris Club. We present new stylized facts on the outcome and process of debt restructurings, including on the size of haircuts, creditor participation, and legal aspects. In addition, the paper summarizes the relevant empirical literature, analyzes recent restructuring episodes, and discusses ongoing debates on crisis resolution mechanisms, credit default swaps, and the role of collective action clauses.
Author: United States. National Credit Union Administration
Publisher:
ISBN:
Category : Credit unions
Languages : en
Pages : 602
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Book Description
Author:
Publisher: DIANE Publishing
ISBN: 1428903682
Category :
Languages : en
Pages : 71
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Book Description
Author: M. Ayhan Kose
Publisher: World Bank Publications
ISBN: 1464815453
Category : Business & Economics
Languages : en
Pages : 403
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Book Description
The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
Author:
Publisher:
ISBN:
Category : Evaluation research (Social action programs)
Languages : en
Pages : 1216
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Book Description
Contains an inventory of evaluation reports produced by and for selected Federal agencies, including GAO evaluation reports that relate to the programs of those agencies.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 161635156X
Category : Business & Economics
Languages : en
Pages : 230
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Book Description
The global financial crisis of recent years and the associated large fiscal deficits and debt levels that have impacted many countries underscores the importance of reliable and timely government statistics and, more broadly, public sector debt as a critical element in countries fiscal and external sustainability. Public Sector Debt Statistics is the first international guide of its kind, and its primary objectives are to improve the quality and timeliness of key debt statistics and promote a convergence of recording practices to foster international comparability and as a reference for national compilers and users for compiling and disseminating these data. Like other statistical guides published by the IMF, this one was prepared in consultation with countries and international agencies, including the nine organizations of the Inter-Agency Task Force on Finance Statistics (TFFS). The guide's preparation was based on the broad range of experience of our institutions and benefitted from consultation with national compilers of government finance and public sector debt statistics. The guide's concepts are harmonized with those of the System of National Accounts (2008) and the Balance of Payments and International Investment Position Manual, Sixth Edition.
Author:
Publisher:
ISBN:
Category : Schools
Languages : en
Pages : 188
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Book Description
