NBER WORKING PAPER SERIES THE LONG OR SHORT OF IT:
... We next analyze the panel variation in foreign currency exposures. We …nd that factors such as trade openness and the level of development help to explain the cross-sectional variation in foreign currency exposure: richer, more open economies take longer positions in foreign currency. This means the ...
... We next analyze the panel variation in foreign currency exposures. We …nd that factors such as trade openness and the level of development help to explain the cross-sectional variation in foreign currency exposure: richer, more open economies take longer positions in foreign currency. This means the ...
Working Paper 17-6: Does Greece Need More Official Debt Relief? If
... projected paths using a “fan chart approach” based on Monte Carlo simulations (see figure 2 and box 2 for details on the underlying assumptions). This differs from the usual approach of dealing with uncertainty in debt sustainability analysis, which is to do sensitivity analysis, that is, to show ho ...
... projected paths using a “fan chart approach” based on Monte Carlo simulations (see figure 2 and box 2 for details on the underlying assumptions). This differs from the usual approach of dealing with uncertainty in debt sustainability analysis, which is to do sensitivity analysis, that is, to show ho ...
Emergency Economic Stabilization Act of 2008
... market prices are not available. Preliminary indications from Treasury officials are that they intend to treat financial institutions quite differently Preliminary indications depending upon which of the two from Treasury officials are purchase options is used. We that they intend to treat understan ...
... market prices are not available. Preliminary indications from Treasury officials are that they intend to treat financial institutions quite differently Preliminary indications depending upon which of the two from Treasury officials are purchase options is used. We that they intend to treat understan ...
accounting and market based risk measures as predictors of bank
... of the prediction of bank failures, the results of this thesis could also provide insights into the debate about the ability of accounting based and market based risk measures to predict bank ...
... of the prediction of bank failures, the results of this thesis could also provide insights into the debate about the ability of accounting based and market based risk measures to predict bank ...
Do Banks Really Care? Social Norms in Bank Lending This version
... conclude that there is a significant relation between social views and equity market valuation of firms that do not comply with these, consistent with premise found in Hong and Kacperczyk (2009) that sin firms have lower equity valuations because society shuns these stocks in the equity market. The ...
... conclude that there is a significant relation between social views and equity market valuation of firms that do not comply with these, consistent with premise found in Hong and Kacperczyk (2009) that sin firms have lower equity valuations because society shuns these stocks in the equity market. The ...
Some Costs and Benefits of Price Stability in the United Kingdom
... 10 percent-though at rates of inflation above this there is evidence that inflation is a significant drag on growth. Likewise, Sarel(l996) finds no evidence of inflation inhibiting growth at rates of inflation below 8 percent-but, again, that there are significantly adverse effects on growth at rate ...
... 10 percent-though at rates of inflation above this there is evidence that inflation is a significant drag on growth. Likewise, Sarel(l996) finds no evidence of inflation inhibiting growth at rates of inflation below 8 percent-but, again, that there are significantly adverse effects on growth at rate ...
The Implications of the Global Financial Crisis for Low-Income
... downturn increases the number of borrowers unable to repay their loans. The global financial crisis will worsen the budgetary position of many LIC governments. Government revenues are expected to suffer as economic activity slows and commodity prices fall. Potential declines in donor support and tig ...
... downturn increases the number of borrowers unable to repay their loans. The global financial crisis will worsen the budgetary position of many LIC governments. Government revenues are expected to suffer as economic activity slows and commodity prices fall. Potential declines in donor support and tig ...
The role of information asymmetry and financial reporting quality in
... loan trading on the secondary market. Studies of financial reporting quality have mainly focused on equity markets,7 although Watts and Zimmerman (1986), Watts (1993, 2003a, 2003b) and Holthausen and Watts (2001) conclude that the reporting demands of the debt markets principally influence accountin ...
... loan trading on the secondary market. Studies of financial reporting quality have mainly focused on equity markets,7 although Watts and Zimmerman (1986), Watts (1993, 2003a, 2003b) and Holthausen and Watts (2001) conclude that the reporting demands of the debt markets principally influence accountin ...
Enersis Américas SA - corporate
... with certain conditions precedent. The referred Corporate Reorganization consisted in dividing Enersis and its subsidiaries, Endesa Chile and Chilectra, separating the electricity generation and distribution businesses in Chile from those activities outside of Chile. On March 1, 2016, and after meet ...
... with certain conditions precedent. The referred Corporate Reorganization consisted in dividing Enersis and its subsidiaries, Endesa Chile and Chilectra, separating the electricity generation and distribution businesses in Chile from those activities outside of Chile. On March 1, 2016, and after meet ...
Slide 1
... quantities needed. Inventory control philosophy whose goal it is to maintain just enough material in just the right place at just the right time to make just the right amount of product. A Program that seeks to eliminate non value adding activities from any operation ...
... quantities needed. Inventory control philosophy whose goal it is to maintain just enough material in just the right place at just the right time to make just the right amount of product. A Program that seeks to eliminate non value adding activities from any operation ...
THE IMPORTANCE OF THE NUMBER OF DIFFERENT AGENTS IN
... income is affected not only by aggregate but also by idiosyncratic income shocks, but other forms of heterogeneity have also been considered.1 These models have been shown to be an improvement over standard representative agent models in several dimensions. For example, they provide an explanation f ...
... income is affected not only by aggregate but also by idiosyncratic income shocks, but other forms of heterogeneity have also been considered.1 These models have been shown to be an improvement over standard representative agent models in several dimensions. For example, they provide an explanation f ...
Smart Money: The Effect of Education on Financial Behavior
... the previous year, which we term “retirement income.”This is distinct from Social Security and Supplemental Security Income, both of which are reported on separate lines.3 A limitation of using the amount of investment income, rather than the amount invested, is that it is only partially informative ...
... the previous year, which we term “retirement income.”This is distinct from Social Security and Supplemental Security Income, both of which are reported on separate lines.3 A limitation of using the amount of investment income, rather than the amount invested, is that it is only partially informative ...
NBER WORKING PAPER SERIES THE LIMITS OF FINANCIAL GLOBALIZATION René M. Stulz
... constituencies of the current rulers of the state and include redistributive taxes. The discretion of rulers to use the state for their own benefit creates an agency problem that I call “the agency problem of state ruler discretion.” When this agency problem is significant, corporations with profes ...
... constituencies of the current rulers of the state and include redistributive taxes. The discretion of rulers to use the state for their own benefit creates an agency problem that I call “the agency problem of state ruler discretion.” When this agency problem is significant, corporations with profes ...
The thirty-minute guide to Private Equity
... they still own portfolio companies which have millions of people in employment. UNI Global Union is concerned about what the deteriorating financial environment means to the debt laden companies. The protection of workers interests during this credit crisis is a serious concern and not one likely to ...
... they still own portfolio companies which have millions of people in employment. UNI Global Union is concerned about what the deteriorating financial environment means to the debt laden companies. The protection of workers interests during this credit crisis is a serious concern and not one likely to ...
an exploratory study of Italian listed state
... diversity on the board does make a significant difference. They also lead to a number of insights that could be of use to practitioners, policy makers and standard setters. Key words: State-Owned Enterprises, risk disclosure, corporate governance, board of directors, agency theory. JEL: M41, H83, G3 ...
... diversity on the board does make a significant difference. They also lead to a number of insights that could be of use to practitioners, policy makers and standard setters. Key words: State-Owned Enterprises, risk disclosure, corporate governance, board of directors, agency theory. JEL: M41, H83, G3 ...
Mutual fund intermediation, equity issues, and the real
... argued by Levine (2005), in order for financial development to influence growth, institutions need to influence resource allocation decisions that foster productivity growth, rather than simply promoting physical capital accumulation. Brav, Jiang, and Kim (2011) is one of the first papers to examine ...
... argued by Levine (2005), in order for financial development to influence growth, institutions need to influence resource allocation decisions that foster productivity growth, rather than simply promoting physical capital accumulation. Brav, Jiang, and Kim (2011) is one of the first papers to examine ...
Consumption Based Asset Pricing After 25 Years
... Consumption Based Asset Pricing Outline of Paper 1. Consumption and marginal utility. 2. Consumption risks of corporate profits & cash flows. Capital budgeting. 3. Consumption betas vs. market betas for industries. 4. Term structure slope and consumption growth. 5. Risk and return and the “Maximum ...
... Consumption Based Asset Pricing Outline of Paper 1. Consumption and marginal utility. 2. Consumption risks of corporate profits & cash flows. Capital budgeting. 3. Consumption betas vs. market betas for industries. 4. Term structure slope and consumption growth. 5. Risk and return and the “Maximum ...
purchase price allocation in real estate
... income, property and transfer tax savings and simplify recordkeeping. In fact, in many transactions, a component analysis is critical, if not required. For example, price allocation can be worth tens of millions of dollars currently and in future depreciation in addition to transfer tax and ad valor ...
... income, property and transfer tax savings and simplify recordkeeping. In fact, in many transactions, a component analysis is critical, if not required. For example, price allocation can be worth tens of millions of dollars currently and in future depreciation in addition to transfer tax and ad valor ...
CHAPTER SIXTEEN
... If the future earnings that are forecasted are of low quality, valuations also will be low quality. Forecasted earnings and residual earnings are of good quality if they capture the value generated by a business. As earnings are determined by accounting rules, forecast quality is a matter of account ...
... If the future earnings that are forecasted are of low quality, valuations also will be low quality. Forecasted earnings and residual earnings are of good quality if they capture the value generated by a business. As earnings are determined by accounting rules, forecast quality is a matter of account ...
Private Equity and Private Debt Investments in India
... Lawyers Asia-Pacific Awards by the Financial Times - RSG Consulting. Nishith Desai Associates has been awarded for “Best Dispute Management lawyer”, “Best Use of Innovation and Technology in a law firm”, “Best Dispute Management Firm”, and “M&A Deal of the year” by IDEX Legal 2015 in association wit ...
... Lawyers Asia-Pacific Awards by the Financial Times - RSG Consulting. Nishith Desai Associates has been awarded for “Best Dispute Management lawyer”, “Best Use of Innovation and Technology in a law firm”, “Best Dispute Management Firm”, and “M&A Deal of the year” by IDEX Legal 2015 in association wit ...
Subject CT1: Financial Mathematics
... The financial press and weekend supplements The trade press, particularly those which specialise in health and care The bulletins and other publications from reinsurers ...
... The financial press and weekend supplements The trade press, particularly those which specialise in health and care The bulletins and other publications from reinsurers ...
Dover Corporation (NYSE:DOV) Memo
... increased as well, with the values decreasing in a couple years due to changes in CAPEX. Overall, the financial show a history of very stable performance, which I hope to show will ...
... increased as well, with the values decreasing in a couple years due to changes in CAPEX. Overall, the financial show a history of very stable performance, which I hope to show will ...
Regulatory Sanctions and Reputational Damage in Financial Markets
... Crucially for identification, we distinguish between misconduct harming second parties (trading partners) and that harming third parties. These are sanctioned by the same regulatory institution, allowing us to rule out effects due to the reputation of the authority itself. In robustness tests, we ar ...
... Crucially for identification, we distinguish between misconduct harming second parties (trading partners) and that harming third parties. These are sanctioned by the same regulatory institution, allowing us to rule out effects due to the reputation of the authority itself. In robustness tests, we ar ...
Key Credit Factors For The Regulated Utilities
... public power, water, sewer, gas, and electric cooperative utilities that are owned by federal, state, or local governmental bodies or by ratepayers. A regulated utility is defined as a corporation that offers an essential or near-essential infrastructure product, commodity, or service with little or ...
... public power, water, sewer, gas, and electric cooperative utilities that are owned by federal, state, or local governmental bodies or by ratepayers. A regulated utility is defined as a corporation that offers an essential or near-essential infrastructure product, commodity, or service with little or ...
Corporate Payout Policy and Product Market Competition
... shareholders well so they can raise capital at favorable terms in the future (LLSV, 2000) and to maximize the value of their holdings in the firm (Gomes (2000)). Our version of the “substitution” model is based on the premise that firms in less competitive markets face higher agency costs associated ...
... shareholders well so they can raise capital at favorable terms in the future (LLSV, 2000) and to maximize the value of their holdings in the firm (Gomes (2000)). Our version of the “substitution” model is based on the premise that firms in less competitive markets face higher agency costs associated ...