liquidity and risk management bengt holmstr¶m; jean tirole

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Liquidity and Risk Management Bengt Holmström; Jean Tirole Journal of Money, Credit and Banking, Vol. 32, No. 3, Part 1. (Aug., 2000), pp. 295-319. Stable URL: http://links.jstor.org/sici?sici=0022-2879%28200008%2932%3A3%3C295%3ALARM%3E2.0.CO%3B2-I Journal of Money, Credit and Banking is currently published by Ohio State University Press. Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at http://www.jstor.org/about/terms.html. JSTOR's Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive only for your personal, non-commercial use. Please contact the publisher regarding any further use of this work. Publisher contact information may be obtained at http://www.jstor.org/journals/ohio.press.html. Each copy of any part of a JSTOR transmission must contain the same copyright notice that appears on the screen or printed page of such transmission. JSTOR is an independent not-for-profit organization dedicated to and preserving a digital archive of scholarly journals. For more information regarding JSTOR, please contact [email protected]. http://www.jstor.org Mon Jan 15 15:34:35 2007

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Liquidity and Risk Management

Bengt Holmström; Jean Tirole

Journal of Money, Credit and Banking, Vol. 32, No. 3, Part 1. (Aug., 2000), pp. 295-319.

Stable URL:

http://links.jstor.org/sici?sici=0022-2879%28200008%2932%3A3%3C295%3ALARM%3E2.0.CO%3B2-I

Journal of Money, Credit and Banking is currently published by Ohio State University Press.

Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available athttp://www.jstor.org/about/terms.html. JSTOR's Terms and Conditions of Use provides, in part, that unless you have obtainedprior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content inthe JSTOR archive only for your personal, non-commercial use.

Please contact the publisher regarding any further use of this work. Publisher contact information may be obtained athttp://www.jstor.org/journals/ohio.press.html.

Each copy of any part of a JSTOR transmission must contain the same copyright notice that appears on the screen or printedpage of such transmission.

JSTOR is an independent not-for-profit organization dedicated to and preserving a digital archive of scholarly journals. Formore information regarding JSTOR, please contact [email protected].

http://www.jstor.orgMon Jan 15 15:34:35 2007

You have printed the following article:

Liquidity and Risk ManagementBengt Holmström; Jean TiroleJournal of Money, Credit and Banking, Vol. 32, No. 3, Part 1. (Aug., 2000), pp. 295-319.Stable URL:

http://links.jstor.org/sici?sici=0022-2879%28200008%2932%3A3%3C295%3ALARM%3E2.0.CO%3B2-I

This article references the following linked citations. If you are trying to access articles from anoff-campus location, you may be required to first logon via your library web site to access JSTOR. Pleasevisit your library's website or contact a librarian to learn about options for remote access to JSTOR.

[Footnotes]

10 Interbank Lending and Systemic RiskJean-Charles Rochet; Jean TiroleJournal of Money, Credit and Banking, Vol. 28, No. 4, Part 2: Payment Systems Research andPublic Policy Risk, Efficiency, and Innovation. (Nov., 1996), pp. 733-762.Stable URL:

http://links.jstor.org/sici?sici=0022-2879%28199611%2928%3A4%3C733%3AILASR%3E2.0.CO%3B2-U

12 Optimal Hedging PoliciesRene M. StulzThe Journal of Financial and Quantitative Analysis, Vol. 19, No. 2. (Jun., 1984), pp. 127-140.Stable URL:

http://links.jstor.org/sici?sici=0022-1090%28198406%2919%3A2%3C127%3AOHP%3E2.0.CO%3B2-X

12 Risk Management: Coordinating Corporate Investment and Financing PoliciesKenneth A. Froot; David S. Scharfstein; Jeremy C. SteinThe Journal of Finance, Vol. 48, No. 5. (Dec., 1993), pp. 1629-1658.Stable URL:

http://links.jstor.org/sici?sici=0022-1082%28199312%2948%3A5%3C1629%3ARMCCIA%3E2.0.CO%3B2-Y

12 The Determinants of Firms' Hedging PoliciesClifford W. Smith; Rene M. StulzThe Journal of Financial and Quantitative Analysis, Vol. 20, No. 4. (Dec., 1985), pp. 391-405.Stable URL:

http://links.jstor.org/sici?sici=0022-1090%28198512%2920%3A4%3C391%3ATDOFHP%3E2.0.CO%3B2-X

http://www.jstor.org

LINKED CITATIONS- Page 1 of 3 -

NOTE: The reference numbering from the original has been maintained in this citation list.

12 Risk Management: Coordinating Corporate Investment and Financing PoliciesKenneth A. Froot; David S. Scharfstein; Jeremy C. SteinThe Journal of Finance, Vol. 48, No. 5. (Dec., 1993), pp. 1629-1658.Stable URL:

http://links.jstor.org/sici?sici=0022-1082%28199312%2948%3A5%3C1629%3ARMCCIA%3E2.0.CO%3B2-Y

Literature Cited

Credit and Efficiency in Centralized and Decentralized EconomiesM. Dewatripont; E. MaskinThe Review of Economic Studies, Vol. 62, No. 4. (Oct., 1995), pp. 541-555.Stable URL:

http://links.jstor.org/sici?sici=0034-6527%28199510%2962%3A4%3C541%3ACAEICA%3E2.0.CO%3B2-R

Financial Intermediation and Delegated MonitoringDouglas W. DiamondThe Review of Economic Studies, Vol. 51, No. 3. (Jul., 1984), pp. 393-414.Stable URL:

http://links.jstor.org/sici?sici=0034-6527%28198407%2951%3A3%3C393%3AFIADM%3E2.0.CO%3B2-1

Two Agency-Cost Explanations of DividendsFrank H. EasterbrookThe American Economic Review, Vol. 74, No. 4. (Sep., 1984), pp. 650-659.Stable URL:

http://links.jstor.org/sici?sici=0002-8282%28198409%2974%3A4%3C650%3ATAEOD%3E2.0.CO%3B2-N

Risk Management: Coordinating Corporate Investment and Financing PoliciesKenneth A. Froot; David S. Scharfstein; Jeremy C. SteinThe Journal of Finance, Vol. 48, No. 5. (Dec., 1993), pp. 1629-1658.Stable URL:

http://links.jstor.org/sici?sici=0022-1082%28199312%2948%3A5%3C1629%3ARMCCIA%3E2.0.CO%3B2-Y

http://www.jstor.org

LINKED CITATIONS- Page 2 of 3 -

NOTE: The reference numbering from the original has been maintained in this citation list.

Agency Costs of Free Cash Flow, Corporate Finance, and TakeoversMichael C. JensenThe American Economic Review, Vol. 76, No. 2, Papers and Proceedings of the Ninety-EighthAnnual Meeting of the American Economic Association. (May, 1986), pp. 323-329.Stable URL:

http://links.jstor.org/sici?sici=0002-8282%28198605%2976%3A2%3C323%3AACOFCF%3E2.0.CO%3B2-M

Interbank Lending and Systemic RiskJean-Charles Rochet; Jean TiroleJournal of Money, Credit and Banking, Vol. 28, No. 4, Part 2: Payment Systems Research andPublic Policy Risk, Efficiency, and Innovation. (Nov., 1996), pp. 733-762.Stable URL:

http://links.jstor.org/sici?sici=0022-2879%28199611%2928%3A4%3C733%3AILASR%3E2.0.CO%3B2-U

The Determinants of Firms' Hedging PoliciesClifford W. Smith; Rene M. StulzThe Journal of Financial and Quantitative Analysis, Vol. 20, No. 4. (Dec., 1985), pp. 391-405.Stable URL:

http://links.jstor.org/sici?sici=0022-1090%28198512%2920%3A4%3C391%3ATDOFHP%3E2.0.CO%3B2-X

Optimal Hedging PoliciesRene M. StulzThe Journal of Financial and Quantitative Analysis, Vol. 19, No. 2. (Jun., 1984), pp. 127-140.Stable URL:

http://links.jstor.org/sici?sici=0022-1090%28198406%2919%3A2%3C127%3AOHP%3E2.0.CO%3B2-X

Who Manages Risk? An Empirical Examination of Risk Management Practices in the GoldMining IndustryPeter TufanoThe Journal of Finance, Vol. 51, No. 4. (Sep., 1996), pp. 1097-1137.Stable URL:

http://links.jstor.org/sici?sici=0022-1082%28199609%2951%3A4%3C1097%3AWMRAEE%3E2.0.CO%3B2-F

http://www.jstor.org

LINKED CITATIONS- Page 3 of 3 -

NOTE: The reference numbering from the original has been maintained in this citation list.