Digital capital: harnessing the power of business Webs

This paper proposes the use of contingent capital with a call provision, in which the insurer has an option to redeem the contingent capital at any time. I characterize in detail a unique dynamic equilibrium of common stock, subordinated contingent ...

We use forward-looking and exogenous measures of output price uncertainty to examine the effect of price uncertainty on firm-level capital investment, risk management, and debt issuance. The effects of uncertainty vary significantly by firm size. When ...

Digital capital refers to the intangible assets gained through knowledge and relationships. The explosion of internet usage and funding initiatives in electronic banking has drawn the attention of researchers towards internet banking. Therefore, the ...