Instead, he prefers to issue a "watch this space" warning, predicting that some universities might find it difficult to fill all their places at the fees they plan to charge.
For one thing, the sword was quicker and more binding than the gavel — a man who'd been cheated in a business deal might well prefer to issue a challenge than to engage in tedious, convoluted legal proceedings.
For one thing, the sword was quicker and more binding than the gavel a man who'd been cheated in a business deal might well prefer to issue a challenge than to engage in tedious, convoluted legal proceedings.
This could be why Mayweather often does not answer the question he is asked, preferring to issue a wholly unrelated reply he has parked in another corner of his brain for just such a moment.
(Both Colgate and Johnson & Johnson declined to discuss their stockier toothbrushes, preferring to issue brief statements celebrating the comfort and cleaning action of their products. "While there is no standard size for toothbrush holders," Colgate added, "an increasing number of manufacturers make holders with larger holes").
Thus, firms (banks) prefer to issue the type of market instrument that minimizes the adverse selection discount.
Second, to comply with capital regulation given the growth of assets, banks prefer to issue hybrid instruments rather than capital instruments, which is also in line with the existence of discount costs from asymmetric information.
The pecking order theory argues that the issuance of financial instruments responds to informational problems and banks should prefer to issue the type of market instrument that minimizes the adverse selection discount.
Under the pecking order, we hypothesize that banks prefer to issue debt-like capital instruments (from now on, hybrid instruments) rather than capital instruments (i.e., common shares) because the former can also be computed as regulatory capital but suffer from lower costs of asymmetric information as compared to capital instruments.
