Submission 15 attachment - Maritime Super
... additional risks with some cases of total loss in single asset exposures. These have been isolated cases as the experience has generally been positive. However, any single poor equity investment can be disproportionately disadvantageous to a single asset investor. The investment return expectations ...
... additional risks with some cases of total loss in single asset exposures. These have been isolated cases as the experience has generally been positive. However, any single poor equity investment can be disproportionately disadvantageous to a single asset investor. The investment return expectations ...
managing foreign exchange risk with derivatives
... HDG structure its foreign exchange hedging program? Since existing literature contains little on how non-financial corporations structure their internal risk management programs, answering this question provides insights into the operations of the hedging program and affords a framework for more in- ...
... HDG structure its foreign exchange hedging program? Since existing literature contains little on how non-financial corporations structure their internal risk management programs, answering this question provides insights into the operations of the hedging program and affords a framework for more in- ...
Research into the International Capital
... Supervision sets out three Pillars for a sound financial system. The first imposes industrywide capital requirements, and the third draws on market discipline by forcing banks to show how they meet those requirements, while the second imposes bank specific requirements to account for individual bank ...
... Supervision sets out three Pillars for a sound financial system. The first imposes industrywide capital requirements, and the third draws on market discipline by forcing banks to show how they meet those requirements, while the second imposes bank specific requirements to account for individual bank ...
Default Risk and Aggregate Fluctuations in Emerging Economies
... however, do not model endogenous country spreads responding to default probabilities. The debt contractual arrangement in this paper is related to the optimal contract arrangements in the presence of commitment problems such as the analysis by Kehoe and Levine (1993) and Kocherlakota (1996). These s ...
... however, do not model endogenous country spreads responding to default probabilities. The debt contractual arrangement in this paper is related to the optimal contract arrangements in the presence of commitment problems such as the analysis by Kehoe and Levine (1993) and Kocherlakota (1996). These s ...
Analysis of stock performance based on
... to other valuation techniques such as the discounted cash flow mode and the price to earnings ratio. Furthermore, RoIC was found to be the preferred quality measure as the measure captures the value that is created by core operations, and was overwhelmingly supported by academic research as an indic ...
... to other valuation techniques such as the discounted cash flow mode and the price to earnings ratio. Furthermore, RoIC was found to be the preferred quality measure as the measure captures the value that is created by core operations, and was overwhelmingly supported by academic research as an indic ...
Valuation: Part I Discounted Cash Flow Valuation
... you derive will have substantial standard error. For instance, if you go back to 1928 (about 80 years of history) and you assume a standard deviation of 20% in annual stock returns, you arrive at a standard error of greater than 2%: ...
... you derive will have substantial standard error. For instance, if you go back to 1928 (about 80 years of history) and you assume a standard deviation of 20% in annual stock returns, you arrive at a standard error of greater than 2%: ...
Firm Financing over the Business Cycle
... Based on our de nition, the vast majority of rms, that is at least 75 percent of the Compustat universe, classify as small rms. The mechanism through which aggregate shocks and nancial frictions generate dierences in rm nancing behavior is still unknown. In this paper, we propose a mechanism t ...
... Based on our de nition, the vast majority of rms, that is at least 75 percent of the Compustat universe, classify as small rms. The mechanism through which aggregate shocks and nancial frictions generate dierences in rm nancing behavior is still unknown. In this paper, we propose a mechanism t ...
PDF
... payments under three general circumstances. Assume both parties have CARA preferences and define βi0∗ and αi0∗ as the optimal share rate and cash component of the contract under no decoupled payments. First, if a share contract is optimal (i.e., 0 < βi0∗ < 1 and αi0∗ = 0) the introduction of decoupl ...
... payments under three general circumstances. Assume both parties have CARA preferences and define βi0∗ and αi0∗ as the optimal share rate and cash component of the contract under no decoupled payments. First, if a share contract is optimal (i.e., 0 < βi0∗ < 1 and αi0∗ = 0) the introduction of decoupl ...
Considering the effects of operating lease capitalization on
... be provided. When complaining, the issues mentioned more often are the ballooning effect in the balance sheets (so that issue is seen as an advantage by some and as an inconvenient for some others), economic effects such as leverage, and compliance costs and complexity derived from implementation. T ...
... be provided. When complaining, the issues mentioned more often are the ballooning effect in the balance sheets (so that issue is seen as an advantage by some and as an inconvenient for some others), economic effects such as leverage, and compliance costs and complexity derived from implementation. T ...
Variety... the essence of life
... The proposed Resolution 8, if passed, will give the Directors of the Company, the authority to allot and issue ordinary shares of the Company up to an amount not exceeding 10% of the Company’s total issued share capital for such purposes as the Directors in their absolute discretion consider to be i ...
... The proposed Resolution 8, if passed, will give the Directors of the Company, the authority to allot and issue ordinary shares of the Company up to an amount not exceeding 10% of the Company’s total issued share capital for such purposes as the Directors in their absolute discretion consider to be i ...
Reinhart and Rogoff
... (i) Explicit or indirect caps or ceilings on interest rates, particularly (but not exclusively) those on government debts. These interest rate ceilings could be effected through various means including: (a) explicit government regulation (for instance, Regulation Q in the United States prohibited ba ...
... (i) Explicit or indirect caps or ceilings on interest rates, particularly (but not exclusively) those on government debts. These interest rate ceilings could be effected through various means including: (a) explicit government regulation (for instance, Regulation Q in the United States prohibited ba ...
Financial review Capital and risk management
... other factors, both external and relating to the RBS Group and the Group’s strategy or operations, which may result in the Group being unable to achieve the current targets, predictions, expectations and other anticipated outcomes expressed or implied by such forward-looking statements. In addition ...
... other factors, both external and relating to the RBS Group and the Group’s strategy or operations, which may result in the Group being unable to achieve the current targets, predictions, expectations and other anticipated outcomes expressed or implied by such forward-looking statements. In addition ...
Investor Behaviour and Lottery Stocks
... The Bali et al (2011) extreme return criteria, albeit relatively simple, is not inconsistent with the approach investors are found to take in making investment decisions in existing studies. Odean (1998) find that the market under reacts to highly relevant and reliable information when it is abstra ...
... The Bali et al (2011) extreme return criteria, albeit relatively simple, is not inconsistent with the approach investors are found to take in making investment decisions in existing studies. Odean (1998) find that the market under reacts to highly relevant and reliable information when it is abstra ...
On Credit Risk Modeling and Management
... unlikely to pay its credit obligations or the obligor is past due more than 90 days on any material credit obligation” This is clearly an unclear definition Furthermore, in retail banking especially, it is very usual that obligors repay their debt in full after the passage of these 90 days. Very oft ...
... unlikely to pay its credit obligations or the obligor is past due more than 90 days on any material credit obligation” This is clearly an unclear definition Furthermore, in retail banking especially, it is very usual that obligors repay their debt in full after the passage of these 90 days. Very oft ...
PDF, 1.9MB - Diploma PLC
... have a strong and broad-based senior management team in place to support the next stage of the Group’s growth strategy. The members of the EMG are the senior managers responsible for the major business clusters and for certain key Group functions. The ...
... have a strong and broad-based senior management team in place to support the next stage of the Group’s growth strategy. The members of the EMG are the senior managers responsible for the major business clusters and for certain key Group functions. The ...
Collateral Valuation In Clearing And Settlement System:
... Settlement risk in securities trading and derivatives markets is managed under clearing and settlement system, in which risk modeling is a critical tool for measuring an appropriate collateral arrangement. The collateral most commonly used are instruments with low credit and liquidity risk. While la ...
... Settlement risk in securities trading and derivatives markets is managed under clearing and settlement system, in which risk modeling is a critical tool for measuring an appropriate collateral arrangement. The collateral most commonly used are instruments with low credit and liquidity risk. While la ...
Banking on Bonds: The New Links Between States and Markets*
... Hardie et al., 2013). The increasing reliance on risk-sensitive market funding, the ECB warned, meant that European banks would run on each other in repo markets. Paradoxically, however, the analysis did not translate into policy actions. Central banks did not ask how to ‘design out’ collateral frag ...
... Hardie et al., 2013). The increasing reliance on risk-sensitive market funding, the ECB warned, meant that European banks would run on each other in repo markets. Paradoxically, however, the analysis did not translate into policy actions. Central banks did not ask how to ‘design out’ collateral frag ...
printmgr file - Goldman Sachs
... corporation, together with its consolidated subsidiaries (collectively, the firm), is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial ins ...
... corporation, together with its consolidated subsidiaries (collectively, the firm), is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial ins ...
Directive on Alternative Investment Fund Managers
... the EU economy as a whole. We welcome the idea of introducing a passport for AIFs as it would help to develop a single market in alternative investment funds. We have, however, serious concerns over some aspects of the proposal as originally drafted. We found in our inquiry that if the Commission ha ...
... the EU economy as a whole. We welcome the idea of introducing a passport for AIFs as it would help to develop a single market in alternative investment funds. We have, however, serious concerns over some aspects of the proposal as originally drafted. We found in our inquiry that if the Commission ha ...
DOMINO`S PIZZA ENTERPRISES LIMITED ANNUAL REPORT 2010
... Domino’s has always prided itself on being an innovator and early adopter of new technology and 2009-10 was no different. The launch of our iPhone Application (App) in November 2009 was a way for us to take pizza ordering to a new level and give customers the chance to order anywhere, anytime from t ...
... Domino’s has always prided itself on being an innovator and early adopter of new technology and 2009-10 was no different. The launch of our iPhone Application (App) in November 2009 was a way for us to take pizza ordering to a new level and give customers the chance to order anywhere, anytime from t ...