新西兰奥塔哥大学论文代写:贝尔斯登

新西兰奥塔哥大学论文代写:贝尔斯登

对于一家投资银行来说,流动性比传统的制造业或分销业务更为重要。从给出的信息,可以说,贝尔斯登的资产很小的一部分投资于次级抵押贷款市场。在崩溃的时候,情况是相似的。它已被提到,由于担心流动性问题,贝尔斯登的股价不断下跌,最终被估值2美元。价格下跌与恐惧是否熊将能够偿还的价值。
上述讨论清楚地表明,流动性的市场知觉是非常重要的投资银行相比,制造或分销业务。投资银行不向银行的零售存款筹集资金。而投资银行的资金来源是长期债务、银行间市场和股权。如前所述,贝尔斯登有极少量的资产进行投资。银行间市场的资金通常是短期的。这使得长期债务资金的主要来源(多伊尔,2009)。然而,这并不是更多的长期债务,因为大部分的债务涉及偿还。因此,流动性要高,以满足长期债务的需求也保证了足够的缓冲,有投资,采取适当的决策,有利于利益相关者对公司的兴趣。此外,公司持有的资产和所采用的债务之间存在巨大的不匹配。这种不匹配要求公司的流动性。
另一方面,在制造业和分销业务的情况下,资金是通过公平和长期的债务,有一致的和统一的现金流量与他们联系在一起的。在这种情况下,只要业务运营产生现金,就没有问题。而在投资业务的情况下,一切都与银行的流动性,即银行的产品,即业务涉及融资。据了解,在制造业,该业务将产生现金,而不是涉及现金。

新西兰奥塔哥大学论文代写:贝尔斯登

Market perception of liquidity is certainly more important for an investment bank than it is for a traditional manufacturing or distribution business. Considering the given information, it can be said that very small portion of the assets of Bear Stearns was invested in the subprime mortgage market. The situation was similar at the time of collapse. It has been mentioned that the fearing the liquidity issues the share price of Bear Stearns kept falling which was ultimately valued at $2. The prices fell with the fear whether Bears will be able to pay back the value.

The above discussion clearly highlights that the market perception of liquidity is much important for investment bank in comparison to the manufacturing or distribution business. The investment banks do not raise money from retail deposits made into the bank. Rather sources of funding for investment banks are long term debts, interbank markets and the equity. As mentioned earlier, Bear Stearns had very small amount of assets that were invested. The interbank markets funding is usually short term. This leaves long term debt as the primary source of funding (Doyle, 2009a). However, this is not more of long term debt as most of the debts involve repayment. Thus the liquidity should be high so as to meet the needs of the long term debts also to ensure that the sufficient cushion is there for reinvestment and taking suitable decisions that favor the stakeholders’ interest in the company. Further, there is huge mismatch between the assets held by the company and the debt employed. This mismatch calls for liquidity of the firms.

On the other hand, in case of manufacturing and distribution business, the funding is done by equity and long term debts that have consistent and uniform cash flows associated with them. In such cases as long as the business operations generate cash there is not issue. While in case of investment business everything is linked to liquidity of banks as the products of the banks i.e. operations involve financing. It is understood in the manufacturing business that the operations will generate cash rather than involving cash.