Do Phoenix Miracles Exist? Firm-Level Evidence from Financial Crises
Do Phoenix Miracles Exist? Firm-Level Evidence from Financial Crises

Author: Meghana Ayyagari

Publisher:

Published: 2017

Total Pages: 65

ISBN-13:

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This paper provides empirical evidence on firm recoveries from financial system collapses in developing countries (systemic sudden stops episodes), and compares them with the experience in the United States in the 2008 financial crisis. Prior research found that economies recover from systemic sudden stop episodes before the financial sector. These recoveries are called Phoenix miracles, and the research questioned the role of the financial system in recovery. Although an average of the macro data across a sample of systemic sudden stop episodes over the 1990s appears consistent with the notion of Phoenix recoveries, closer inspection reveals heterogeneity of responses across the countries, with only a few countries fitting the pattern. Micro data show that across countries, only a small fraction (less than 31 percent) of firms follow a pattern of recovery in sales without a recovery in external credit, and even these firms have access to external sources of cash. The experience of firms in the United States during the 2008 financial crisis also suggests no evidence of credit-less recoveries. An examination of the dynamics of firms' financing, investment and payout policies during recovery periods shows that far from being constrained, the firms in the sample are able to access long-term financing, issue equity, and significantly expand their cash holdings.

Strategy as Leadership
Strategy as Leadership

Author: Roberto S. Vassolo

Publisher: Stanford University Press

Published: 2022-02-01

Total Pages: 277

ISBN-13: 1503629821

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Strategy as Leadership is about making sense of predictable but drastic changes that can alter the relationship between businesses and their competition, posing substantial leadership challenges to senior management teams. Roberto S. Vassolo and Natalia Weisz provide a framework to address and respond to these critical changes by identifying them, describing the inner tensions these changes generate, and providing guidance for their successful navigation. This outside-in approach specifies the salient leadership challenges that executives will face while mobilizing their organizations to respond effectively to competitive and environmental change. This book claims that strategy is leadership as, in this framework, these environmental changes demand shifts in strategic priorities that result in a consistent pattern of resistance. If we know that changes are occurring in the competitive environment, we can soon identify who will be most resistant to the shift in priorities necessary to address the new situation. This book is for senior management teams to enable their organizations' capabilities to adapt and address environmental changes successfully.

Global Financial Development Report 2013
Global Financial Development Report 2013

Author: World Bank

Publisher: World Bank Publications

Published: 2012-09-01

Total Pages: 220

ISBN-13: 0821395041

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This new annual publication from the World Bank Group provides an overview and assessment of financial sector development around the world, with particular attention on medium- and low-income countries.

God Has a Reason for Everything
God Has a Reason for Everything

Author: Chery Manning

Publisher: Morgan James Publishing

Published: 2016-05-17

Total Pages: 170

ISBN-13: 1630476951

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A remarkable memoir of a young love, a devastating loss, and the power of miracles . . . It’s 1989, and Jason and Chery have been dating for almost nine months in Phoenix, Arizona. She’s looking forward to a reunion with some friends from back home in Alaska when Jason’s friend invites them to go three-wheeling. She’s not excited about the idea, but gives in. Then, on the last run of the day, there is a terrible accident. The accident happens forty-five minutes away from the nearest town—and cell phones don’t exist. Help may not get there in time. But help comes in a most miraculous way. One will not make it. The other is put into a coma. There will be an intense and agonizing recovery. The recovery will have to be made in phases decided by the doctors. They have to be sure the information can be handled and accepted without giving up the fight to survive. As time progresses, God always seems to be there. More miraculous events transpire to get the results He’s looking for. The one who survives never understands the events that happened that day—until much later. Looking back, God has a reason for everything. We never fully understand our purpose in life, but sometimes it is made known. This is a true story of how miracles do happen, on a daily basis. You just have to listen to God’s voice to understand. . . .

The Case for Miracles Student Edition
The Case for Miracles Student Edition

Author: Lee Strobel

Publisher: Zondervan

Published: 2018-03-27

Total Pages: 160

ISBN-13: 0310747236

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Do miracles really exist? Bestselling and award-winning author Lee Strobel decided to find out. In The Case for Miracles Student Edition, he presents the interviews, real-life stories, and provable facts behind historical and modern-day incidents many people claim are "miraculous" and others see as false, then lays out the solid truth, giving young adults like you the evidence you need to make your own decision on whether miracles and other supernatural events ever happened, and if they still happen today. A woman on the news says she saved a boy from drowning after a glowing man told her where to go. A man says his cancer miraculously disappeared, and doctors agree they can't find any trace of the disease. A classmate says the answers to his final exam came to him in a dream and claims it must have been a miracle. None of these things are normal events--but are they really miracles, or just strange coincidences? And what about all the miracles in the Bible? Can modern science explain them away? In The Case for Miracles Student Edition, Lee Strobel asks the hard questions as he interviews scientists, skeptics, and first-hand witnesses, and also uses his award-winning journalist background to examine the evidence behind modern-day and historical miracles and "supernatural" claims to see if they are really from God or just wishful thinking. As he presents the evidence, you can decide: Does God really perform miracles in our world? And if he does, what does that mean for us? The Case for Miracles Student Edition: Answers the questions teens and young adults thirteen and up ask about miracles and otherworldly events, looking at all the possible angles and presenting proof of God’s presence Explores all types of miracles—and why they sometimes don't happen when we think they should Can also be used in the classroom, in group studies, or as part of a religious studies class Pairs well with The Case for Christ Student Edition, The Case for a Creator Student Edition, and The Case for Faith Student Edition

The Essence of the Everlasting Phoenix
The Essence of the Everlasting Phoenix

Author: J. J. Mack

Publisher:

Published: 2013-10

Total Pages: 130

ISBN-13: 9780989809917

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J.J. Mack questioned what he was taught in church and Saturday religious classes from the time he could talk. By his teenage years his questions had increased in complexity, and he was angry. He writes, "Some of the questions I had were: How could God feel unhappy? 'He' was God, after all. Couldn't he just make himself happy? Why did it seem that humans were the center of the universe? The universe is an awfully big place, and all God seemed concerned with was this tiny little planet ... Didn't 'He' have other stuff to do? I couldn't figure it out. Unless ... unless the entire idea of God being a separate entity was incorrect. With the idea of God being a daddy, nothing seemed to fit. But if it was all wrong, God being a person, God having human attributes, God being a creator, all of it, then at least it left the door open for some other explanation." Have I really been born? How do I know I exist? Am I in the universe, or is the universe in me? If the universe is in me, then what am I? There are many awakenings on the spiritual path, but only one revelation. This final, or full realization wipes out the very identity of the seeker itself. So if you're looking to "get" something out of this book, you will not. This is because there is no "you," for who you "think" you are is nothing but an illusion.