Rev. Rul. 2004-77 - Uncle Fed`s Tax*Board
... owner. L and X are the only members under local law of P, a foreign eligible entity. There are no other constructive or beneficial owners of P other than L and X. LAW AND ANALYSIS Section 7701(a)(2) of the Internal Rev enue Code provides that the term part nership includes a syndicate, group, pool ...
... owner. L and X are the only members under local law of P, a foreign eligible entity. There are no other constructive or beneficial owners of P other than L and X. LAW AND ANALYSIS Section 7701(a)(2) of the Internal Rev enue Code provides that the term part nership includes a syndicate, group, pool ...
The Developed Financial System Causes the Predicament of Zhejiang Merchants
... other project investments which lead to the poor liquidity, some things must happen to the enterprises once the loans are taken. This is the most immediate cause of the frequent accidents happening to Zhejiang enterprises. The ostensible reason for the so called petition drawn by 600 enterprises was ...
... other project investments which lead to the poor liquidity, some things must happen to the enterprises once the loans are taken. This is the most immediate cause of the frequent accidents happening to Zhejiang enterprises. The ostensible reason for the so called petition drawn by 600 enterprises was ...
Trade Liberalization and the Politics of Financial Development No. 04‐3
... It has been extensively documented that the level of financial development, whatever measured, varies greatly across countries (LaPorta et al. (1997, 1998)). This does not imply that the ranking of countries does not vary through time, though. The rank in terms of level of private credit to GDP in t ...
... It has been extensively documented that the level of financial development, whatever measured, varies greatly across countries (LaPorta et al. (1997, 1998)). This does not imply that the ranking of countries does not vary through time, though. The rank in terms of level of private credit to GDP in t ...
23 June 2017 DANSKE INVEST HEDGE FIXED INCOME
... The overall exposure using the gross method is expected to be in the range 200-500 per cent. and is expected not to exceed 1,500 per cent. These limits also apply for the commitment method. The level of leverage may vary over time. The Fund will also adhere to the following investment restrictions: ...
... The overall exposure using the gross method is expected to be in the range 200-500 per cent. and is expected not to exceed 1,500 per cent. These limits also apply for the commitment method. The level of leverage may vary over time. The Fund will also adhere to the following investment restrictions: ...
The Effect of Dividend Tax Relief on Investment Incentives
... which the company may deduct interest payments, to finance their activities. This may make corporate capital structures too rigid and too vulnerable to bankruptcy and financial distress. In addition, by distinguishing between dividends, taxed as ordinary income, and retained earnings and share repur ...
... which the company may deduct interest payments, to finance their activities. This may make corporate capital structures too rigid and too vulnerable to bankruptcy and financial distress. In addition, by distinguishing between dividends, taxed as ordinary income, and retained earnings and share repur ...
JANUARY–DECEMBER 2016 RESULTS
... 2.1.3 Operating earnings and margins EBITDA for 2016 was 202.0 million euros, representing a margin on net revenues of 19.8%, up 21.9% on that reported for 2015. At 50.5 million euros, EBITDA for the fourth quarter of 2016 was up 9.4% on that achieved in the same quarter in 2015. ...
... 2.1.3 Operating earnings and margins EBITDA for 2016 was 202.0 million euros, representing a margin on net revenues of 19.8%, up 21.9% on that reported for 2015. At 50.5 million euros, EBITDA for the fourth quarter of 2016 was up 9.4% on that achieved in the same quarter in 2015. ...
The equity premium
... value of cc required to generate the observed equity premium results in an unacceptably high riskfree rate. The late Fischer Black proposed that ax = 55 would solve the puzzle.10 Indeed, it can be shown that the U.S. experience from 1889 through 1978 reported here can be reconciled with alpha = 48 a ...
... value of cc required to generate the observed equity premium results in an unacceptably high riskfree rate. The late Fischer Black proposed that ax = 55 would solve the puzzle.10 Indeed, it can be shown that the U.S. experience from 1889 through 1978 reported here can be reconciled with alpha = 48 a ...
strategy for azerbaijan
... institutions and across the sector aided by strict central bank regulation and crisis response, as well as a three year tax holiday for financial institutions to the end of ...
... institutions and across the sector aided by strict central bank regulation and crisis response, as well as a three year tax holiday for financial institutions to the end of ...
Insurance Liabilities - International Actuarial Association
... The timing and size of cash flows associated with the liability for an insurance contract typically involves both uncertainty and a long time horizon. The expertise of an actuary includes the assessment of the relatively complicated expected values of these liabilities, incorporating the various ris ...
... The timing and size of cash flows associated with the liability for an insurance contract typically involves both uncertainty and a long time horizon. The expertise of an actuary includes the assessment of the relatively complicated expected values of these liabilities, incorporating the various ris ...
FINANCIAL BARRIERS TO HOME OWNERSHIP
... great majority of those products were withdrawn from the market during the course of the year. Since the beginning of 2009 they have comprised less than one in ten of the mortgage products on offer. Latest FSA data for the first quarter of 2010 also shows that mortgage advances with a 90% LTV and ab ...
... great majority of those products were withdrawn from the market during the course of the year. Since the beginning of 2009 they have comprised less than one in ten of the mortgage products on offer. Latest FSA data for the first quarter of 2010 also shows that mortgage advances with a 90% LTV and ab ...
Testing the Elasticity of Corporate Yield Spreads
... despite extensive empirical examination, the expected negative correlations predicted by the structural models are not necessarily present in risky bonds of all credit classes, maturities, and markets (e.g., Longstaff and Schwartz (1995), Duffee (1998), and Coilin-Dufresne. Goldstein, and Martin (20 ...
... despite extensive empirical examination, the expected negative correlations predicted by the structural models are not necessarily present in risky bonds of all credit classes, maturities, and markets (e.g., Longstaff and Schwartz (1995), Duffee (1998), and Coilin-Dufresne. Goldstein, and Martin (20 ...
Recovery and Resolution Planning for Systemically Important Insurers:
... Supervisors (IAIS) and national authorities, identified an initial list of global systemically important insurers (‘G-SIIs’) as part of the list of designated G-SIFIs, and the IAIS published a set of policy measures, including recovery and resolution planning requirements, that apply to those G-SIIs ...
... Supervisors (IAIS) and national authorities, identified an initial list of global systemically important insurers (‘G-SIIs’) as part of the list of designated G-SIFIs, and the IAIS published a set of policy measures, including recovery and resolution planning requirements, that apply to those G-SIIs ...
Rising Rates-What You Need to Know
... rates comes up, but it’s important to remember that rising interest rates have an upside too. Rising rates may also be an indication of economic expansion, and investors could see an increase in dividends and interest payments over time. For those investors whose investment horizon is longer than th ...
... rates comes up, but it’s important to remember that rising interest rates have an upside too. Rising rates may also be an indication of economic expansion, and investors could see an increase in dividends and interest payments over time. For those investors whose investment horizon is longer than th ...
US Trust Collateral L4 Template
... pursue your goals For family offices and high net worth investors, hedge funds can represent a large proportion of a well-diversified investment portfolio. Hedge funds are a useful tool that can help protect wealth and offer long-term growth. Though hedge funds may be attractive to certain investors ...
... pursue your goals For family offices and high net worth investors, hedge funds can represent a large proportion of a well-diversified investment portfolio. Hedge funds are a useful tool that can help protect wealth and offer long-term growth. Though hedge funds may be attractive to certain investors ...
Has Government Tax Policy in Greece Led to a Large Shadow
... favorable to them. The system is very inefficient and unproductive, and forces a lot of legitimate tax payers to enter the shadow economy. Corruption Another one of the reasons why the shadow economy is so large in Greece is because of the presence of corruption in the public sector. Corruption occu ...
... favorable to them. The system is very inefficient and unproductive, and forces a lot of legitimate tax payers to enter the shadow economy. Corruption Another one of the reasons why the shadow economy is so large in Greece is because of the presence of corruption in the public sector. Corruption occu ...
Stock characteristics and market myopia
... of traders. Kumar (2009) shows, furthermore, that sophisticated investor activity is higher among stocks where individual investors exhibit stronger behavioral biases. This enables us to justify an alternative hypothesis to that offered by Bushee (2001), namely, that the participation of institution ...
... of traders. Kumar (2009) shows, furthermore, that sophisticated investor activity is higher among stocks where individual investors exhibit stronger behavioral biases. This enables us to justify an alternative hypothesis to that offered by Bushee (2001), namely, that the participation of institution ...
Chile: 2016 Article IV Consultation-Press Release
... noted that less favorable external conditions, declining trend growth, and an urgent need to address social needs could impact the country’s economic prospects. Directors welcomed the authorities’ continued commitment to strong policies and reforms aimed at achieving higher and more inclusive growth ...
... noted that less favorable external conditions, declining trend growth, and an urgent need to address social needs could impact the country’s economic prospects. Directors welcomed the authorities’ continued commitment to strong policies and reforms aimed at achieving higher and more inclusive growth ...
NORWAY SELECTED ISSUES
... 30 percent in fixed income, and 5 percent in real estate. The fund operates mostly on a buy-andhold basis and distributes investments very widely across companies and assets, with the result that its investment strategy, operating costs, and investment outcomes resemble those of a set of very large ...
... 30 percent in fixed income, and 5 percent in real estate. The fund operates mostly on a buy-andhold basis and distributes investments very widely across companies and assets, with the result that its investment strategy, operating costs, and investment outcomes resemble those of a set of very large ...
Optimal Development Policies with Financial Frictions
... of transition, when entrepreneurs are undercapitalized, and reduce labor supply once the economy comes close enough to the steady state, where entrepreneurs are well capitalized. Hence, optimal policy is stage-dependent. Greater labor supply reduces equilibrium wages paid by entrepreneurs, increasi ...
... of transition, when entrepreneurs are undercapitalized, and reduce labor supply once the economy comes close enough to the steady state, where entrepreneurs are well capitalized. Hence, optimal policy is stage-dependent. Greater labor supply reduces equilibrium wages paid by entrepreneurs, increasi ...
Monetary Policy Spillovers and the Trilemma in the New Normal
... across countries, including both developed and developing countries, were highly correlated during the Great Moderation period. Figure 3 is an interesting picture. It illustrates the comparable correlations of stock market price indexes (expressed in local currency) with the U.S. index. Since the mi ...
... across countries, including both developed and developing countries, were highly correlated during the Great Moderation period. Figure 3 is an interesting picture. It illustrates the comparable correlations of stock market price indexes (expressed in local currency) with the U.S. index. Since the mi ...
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
... Highlights during the third quarter included the grand opening of the Arison Maritime Center in Almere, Netherlands, named for Carnival Corporation & plc Chairman Micky Arison and his father, the late Ted Arison, who founded the company. The 110,000-square-foot purpose built facility is a major expa ...
... Highlights during the third quarter included the grand opening of the Arison Maritime Center in Almere, Netherlands, named for Carnival Corporation & plc Chairman Micky Arison and his father, the late Ted Arison, who founded the company. The 110,000-square-foot purpose built facility is a major expa ...
Financial Restructuring
... at financial distress and restructuring The European Commission recently published a report by Oxera examining the process and outcomes of financial distress and restructuring. The objective of the study is to gain a clearer understanding of what might happen in the absence of state support, in orde ...
... at financial distress and restructuring The European Commission recently published a report by Oxera examining the process and outcomes of financial distress and restructuring. The objective of the study is to gain a clearer understanding of what might happen in the absence of state support, in orde ...
Redesigning social security, for the 2020s
... years but reforms during the 2010–2020 period are exacerbating the divide. During this decade there will be a huge shift in the composition of social security spending as a result of spending cuts, contrasting policies for uprating payments and changing patterns of demand. For families with children ...
... years but reforms during the 2010–2020 period are exacerbating the divide. During this decade there will be a huge shift in the composition of social security spending as a result of spending cuts, contrasting policies for uprating payments and changing patterns of demand. For families with children ...
Clamoring for Greenbacks: Explaining the
... monetary system, based on the U.S. dollar, the Euro, and the Chinese renminbi (RMB), would make the world economy more stable because it requires for the issuers of the key currencies to check and discipline their fiscal conditions. From that view, the weakening credibility of the Euro may contribut ...
... monetary system, based on the U.S. dollar, the Euro, and the Chinese renminbi (RMB), would make the world economy more stable because it requires for the issuers of the key currencies to check and discipline their fiscal conditions. From that view, the weakening credibility of the Euro may contribut ...
Press release of Banco de Portugal on the independent evaluation
... management as calculated by PwC, and based on the information reported by Novo Banco, the Pillar 1 common equity tier 1 – CET1 – ratio stands at 9.2% on a consolidated basis. Banco de Portugal clarifies that the review performed by PwC aimed at confirming the value of the assets, liabilities, off-ba ...
... management as calculated by PwC, and based on the information reported by Novo Banco, the Pillar 1 common equity tier 1 – CET1 – ratio stands at 9.2% on a consolidated basis. Banco de Portugal clarifies that the review performed by PwC aimed at confirming the value of the assets, liabilities, off-ba ...