Arbeitspapier
Excess capital and liquidity management
These notes present a new approach to corporate finance, one in which financing is not determined by prospective income streams but by financing opportunities, liquidity considerations, and prospective capital gains. This approach substantially modifies the traditional view of high interest rates as a discouragement to speculation; the Keynesian and Post-Keynesian theory of liquidity preference as the opportunity cost of investment; and the notion of the liquidity premium as a factor in determining the rate of interest on longer-term maturities.
- Language
-
Englisch
- Bibliographic citation
-
Series: Working Paper ; No. 549
- Classification
-
Wirtschaft
- Event
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Geistige Schöpfung
- (who)
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Toporowski, Jan
- Event
-
Veröffentlichung
- (who)
-
Levy Economics Institute of Bard College
- (where)
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Annandale-on-Hudson, NY
- (when)
-
2008
- Handle
- Last update
-
10.03.2025, 11:45 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Toporowski, Jan
- Levy Economics Institute of Bard College
Time of origin
- 2008
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