Risk Analysis of Collateralized Debt Obligations
... applications, including the estimation of profit and loss distributions for positions in multiple tranches of a CDO. These distributions quantify and differentiate the risk exposure of alternative investment positions, and the impact of complex contract features. They are preferable to agency ratin ...
... applications, including the estimation of profit and loss distributions for positions in multiple tranches of a CDO. These distributions quantify and differentiate the risk exposure of alternative investment positions, and the impact of complex contract features. They are preferable to agency ratin ...
determining the risk free rate for regulated companies
... To summarise, the use of an interest rate of longer term than the regulatory period for setting output prices leads to two problems in a presence of a non-flat term structure. If the non-flat term structure is due to a liquidity premium, and therefore unpredictability in future spot rates, the use o ...
... To summarise, the use of an interest rate of longer term than the regulatory period for setting output prices leads to two problems in a presence of a non-flat term structure. If the non-flat term structure is due to a liquidity premium, and therefore unpredictability in future spot rates, the use o ...
Essentials of Financial Risk Management
... Hedging is the business of seeking assets or events that offset, or have weak or negative correlation to, an organization’s financial exposures. Correlation measures the tendency of two assets to move, or not move, together. This tendency is quantified by a coefficient between –1 and +1. Correlation ...
... Hedging is the business of seeking assets or events that offset, or have weak or negative correlation to, an organization’s financial exposures. Correlation measures the tendency of two assets to move, or not move, together. This tendency is quantified by a coefficient between –1 and +1. Correlation ...
Losing sight of the forest for the trees?
... another firm (Jacobides and Winter, 2005). To make headway in a theory of capability-based analysis of vertical scope, we must further refine the concept of capability. An important distinction we introduce in this paper is the distinction of productive capabilities of a firm (productive efficiency ...
... another firm (Jacobides and Winter, 2005). To make headway in a theory of capability-based analysis of vertical scope, we must further refine the concept of capability. An important distinction we introduce in this paper is the distinction of productive capabilities of a firm (productive efficiency ...
Fraud and Other Investigative Techniques
... A generic term, embracing all multifarious means which human ingenuity can devise, and which are resorted to by one individual to get advantage over another by false suggestions or by suppression of truth. It includes surprise, trickery, cunning, dissembling, and any unfair way by which another is ...
... A generic term, embracing all multifarious means which human ingenuity can devise, and which are resorted to by one individual to get advantage over another by false suggestions or by suppression of truth. It includes surprise, trickery, cunning, dissembling, and any unfair way by which another is ...
Corporate Finance
... based upon what investors are paying for similar assets. In general, this takes the form of value or price multiples and comparing firms within the same business. Contingent claim valuation: When the cash flows on an asset are contingent on an external event, the value can be estimated using option ...
... based upon what investors are paying for similar assets. In general, this takes the form of value or price multiples and comparing firms within the same business. Contingent claim valuation: When the cash flows on an asset are contingent on an external event, the value can be estimated using option ...
diversified growth funds - Pensions and Lifetime Savings Association
... of DGF Funds. For example, some asset managers have launched Emerging Markets focused DGFs which allocate to Emerging Market Equity (global, local and single country), Emerging Markets Debt and Frontier Markets Equity funds. The objective of these funds remains equity or growth-like returns using th ...
... of DGF Funds. For example, some asset managers have launched Emerging Markets focused DGFs which allocate to Emerging Market Equity (global, local and single country), Emerging Markets Debt and Frontier Markets Equity funds. The objective of these funds remains equity or growth-like returns using th ...
Macroprudential Policy: Promise and Challenges * By Enrique G
... pricing function, but to a modeler working with the local approximation it may look as if those outcomes are due to large, unexpected shocks (i.e. outcomes that cannot be explained within the model).3 Merton (2009) made a similar argument and concluded that: “Things are not conceptually out of contr ...
... pricing function, but to a modeler working with the local approximation it may look as if those outcomes are due to large, unexpected shocks (i.e. outcomes that cannot be explained within the model).3 Merton (2009) made a similar argument and concluded that: “Things are not conceptually out of contr ...
Inside Debt and Corporate Investment
... positive relation between investment and equity-based (as opposed to accounting-based) compensation, concluding that equity-based compensation mitigates short-term investment horizons by better aligning the interests of managers and shareholders. In addition, researchers have argued (and sometimes e ...
... positive relation between investment and equity-based (as opposed to accounting-based) compensation, concluding that equity-based compensation mitigates short-term investment horizons by better aligning the interests of managers and shareholders. In addition, researchers have argued (and sometimes e ...
Islamic Financial Services Unit | Annual Report 2013/14
... our products and services We have in place a solid governance structure and set of corporate values that drive the Company on a path of long-term sustainability. This coupled with our strong working ties with the Shari’ah Board and scholars have paved a firm platform in which we could deliver our pr ...
... our products and services We have in place a solid governance structure and set of corporate values that drive the Company on a path of long-term sustainability. This coupled with our strong working ties with the Shari’ah Board and scholars have paved a firm platform in which we could deliver our pr ...
Risk analysis of the proxy life-cycle investments in the second pillar
... et al., 2011), while Bulgaria and Colombia are preparing to introduce a proxy lifecycle model (Impavido et al., 2010). Most countries have chosen a system with three different funds of conservative, balanced and aggressive risk profiles, which are mostly defined by the investment limits for the vari ...
... et al., 2011), while Bulgaria and Colombia are preparing to introduce a proxy lifecycle model (Impavido et al., 2010). Most countries have chosen a system with three different funds of conservative, balanced and aggressive risk profiles, which are mostly defined by the investment limits for the vari ...
FINALHill Rebuttal
... also understand that the use of too much debt—i.e., a level of debt so high that it creates a ...
... also understand that the use of too much debt—i.e., a level of debt so high that it creates a ...
Development of cost models and pricing framework for wholesale
... The project commenced on 22 February 2017 and is due to be completed within 6-9 months. ...
... The project commenced on 22 February 2017 and is due to be completed within 6-9 months. ...
Toromont Announces Fourth Quarter 2013 Results
... metals; changes in foreign exchange rates, including the Cdn$/US$ exchange rate; the termination of distribution or original equipment manufacturer agreements; equipment product acceptance and availability of supply; increased competition; credit of third parties; additional costs associated with w ...
... metals; changes in foreign exchange rates, including the Cdn$/US$ exchange rate; the termination of distribution or original equipment manufacturer agreements; equipment product acceptance and availability of supply; increased competition; credit of third parties; additional costs associated with w ...
NBER WORKING PAPER SERIES MINIMUM ASSET REQUIREMENTS Steven Shavell
... are the customers of the firms. In this case, minimum asset requirements are generally socially undesirable. The underlying reason is that because customers bear any losses that firms with assets less than harm are unable to pay in liability judgments, a customer will not make a purchase unless the ...
... are the customers of the firms. In this case, minimum asset requirements are generally socially undesirable. The underlying reason is that because customers bear any losses that firms with assets less than harm are unable to pay in liability judgments, a customer will not make a purchase unless the ...
Temi di Discussione
... As indicated in the variable description file, this question does not apply to outright owners or rent free occupiers. Therefore homeowners without a mortgage should not answer this question. By selecting homeowners who answer, we are able to identify households with a mortgage. ...
... As indicated in the variable description file, this question does not apply to outright owners or rent free occupiers. Therefore homeowners without a mortgage should not answer this question. By selecting homeowners who answer, we are able to identify households with a mortgage. ...
Corporate Governance and Risk Management at Unprotected Banks
... shifting benefits managers at the expense of all claimants on the bank, while other forms of risk shifting benefit stockholders at the expense of creditors.1 Bankers design contracting and governance structures that sufficiently resolve agency problems so that they can attract funding from minori ...
... shifting benefits managers at the expense of all claimants on the bank, while other forms of risk shifting benefit stockholders at the expense of creditors.1 Bankers design contracting and governance structures that sufficiently resolve agency problems so that they can attract funding from minori ...
