Corporate Debt Restructuring and Public Financial Institutions in Japan -Do Government-Affiliated Financial Institutions Soften Budget Constraints?

Author: Kenya Fujiwara
Professor, School of Business Administration, Kobe University
Public Policy Review, 2006, Vol.2, No.1
ABSTRACT:
There are two different views on the effects of public financial institutions on corporate debt restructuring: the soft budget view and the hard budget view. The former view, which is held by Kornai (1979, 1983), Dewatripont and Maskin (1995), and others insists [...]

Corporate financial restructuring in Asia: implications for financial stability

Author: Michael Pomerleano
BIS Quarterly Review, September 2007
ABSTRACT:
Corporate financial fragility preceding the Asian financial crisis heightened vulnerabilities. Many countries in the region undertook significant corporate financial restructuring after the crisis, with some countries bouncing back much faster than others. These sounder corporate financial practices bode well for financial stability.
Full Text: r_qt0709i

Spent Resources: Self-Regulatory Resource Availability Affects Impulse Buying

Author: KATHLEEN D. VOHS and RONALD J. FABER
ABSTRACT:
This research investigated impulse buying as resulting from the depletion of a common—but limited—resource that governs self-control. In three investigations, participants’ self-regulatory resources were depleted or not; later, impulsive spending responses were measured. Participants whose resources were depleted, relative to participants whose resources were not depleted, felt stronger [...]