Liquidity and Risk Management
提出一个合同理论框架，整合企业融资和审慎监管中的流动性管理、风险管理和资本结构三个维度，并初步评估近期市场风险监管方法。
Firms and financial institutions are best viewed as ongoing entities, whose project completion may require renewed injections of liquidity. This paper proposes a contract-theoretic framework integrating three dimensions of corporate financing and prudential regulation: (a) liquidity management, (b) risk management, and (c) capital structure. It concludes with a preliminary assessment of recent regulatory approaches to the treatment of market risk.