Capital Adequacy Ratio Report
... In 2012, the Board of Directors and the Shareholders’ General Meeting of the Bank reviewed and approved the 20122014 Capital Planning of ICBC in accordance with the Capital Regulation. During the planning period, by reinforcing external capital replenishment, undertaking external market financing an ...
... In 2012, the Board of Directors and the Shareholders’ General Meeting of the Bank reviewed and approved the 20122014 Capital Planning of ICBC in accordance with the Capital Regulation. During the planning period, by reinforcing external capital replenishment, undertaking external market financing an ...
Credit Rating Agencies` Decisions and ISDA`s Credit Events
... nonnegotiable) and the variable (the “Schedule”) part (which is negotiable between the counterparties). Some key negotiation points are: the currency, the payment threshold (“Threshold Amount”), the minimum credit guarantees transfer amount (“Minimum Transfer Amount”), etc. As Harding et al. (2002) ...
... nonnegotiable) and the variable (the “Schedule”) part (which is negotiable between the counterparties). Some key negotiation points are: the currency, the payment threshold (“Threshold Amount”), the minimum credit guarantees transfer amount (“Minimum Transfer Amount”), etc. As Harding et al. (2002) ...
S2AV: A valuation methodology for insurance companies
... the most important drivers, particularly in the medium to long term, will be the required level of Solvency II capital1 and the own funds available and eligible to cover it. Therefore our proposed valuation methodology focuses on these metrics. However, we note that there may be additional constrain ...
... the most important drivers, particularly in the medium to long term, will be the required level of Solvency II capital1 and the own funds available and eligible to cover it. Therefore our proposed valuation methodology focuses on these metrics. However, we note that there may be additional constrain ...
How Excessive Is Banks` Maturity Transformation?∗
... See Bianchi, Hatchondo, and Martinez (2013) for a recent application. ...
... See Bianchi, Hatchondo, and Martinez (2013) for a recent application. ...
strukture for the decree on minimum capital requirements for market
... (a) "over-the-counter (OTC) derivate instruments” are financial instruments defined in Annex I to this regulation, other than those instruments to which an exposure value of zero is attributed in accordance with Table 7 of Article 48 of this regulation; (b) "stock financing" means positions where ph ...
... (a) "over-the-counter (OTC) derivate instruments” are financial instruments defined in Annex I to this regulation, other than those instruments to which an exposure value of zero is attributed in accordance with Table 7 of Article 48 of this regulation; (b) "stock financing" means positions where ph ...
(656 K)
... analogy is useful: even if nobody “sells” a given horse, as long as people bet on different horses the betting market clears. Similarly, buying a given digital range can be thought of as shorting all other outcomes and therefore having investors bidding at different strikes allows the pari-mutuel al ...
... analogy is useful: even if nobody “sells” a given horse, as long as people bet on different horses the betting market clears. Similarly, buying a given digital range can be thought of as shorting all other outcomes and therefore having investors bidding at different strikes allows the pari-mutuel al ...
returns on small cap growth stocks, or the lack
... As with the previous example of large cap value vs. large cap growth, can the differences in risk and return be explained by the factor exposures of the different quintiles? Exhibit 8 shows the regression results for the five different quintiles. As expected, there is a clear decrease in the value ( ...
... As with the previous example of large cap value vs. large cap growth, can the differences in risk and return be explained by the factor exposures of the different quintiles? Exhibit 8 shows the regression results for the five different quintiles. As expected, there is a clear decrease in the value ( ...
Macroeconomic Derivatives: An Initial Analysis of Market-based Macro Forecasts, Uncertainty, and Risk.
... analogy is useful: even if nobody “sells” a given horse, as long as people bet on different horses the betting market clears. Similarly, buying a given digital range can be thought of as shorting all other outcomes and therefore having investors bidding at different strikes allows the pari-mutuel al ...
... analogy is useful: even if nobody “sells” a given horse, as long as people bet on different horses the betting market clears. Similarly, buying a given digital range can be thought of as shorting all other outcomes and therefore having investors bidding at different strikes allows the pari-mutuel al ...
Corporate Governance and Its Effect on the Corporate Financial
... The institutional share has a significant and direct relationship with the financial leverage ratio. KEYWORDS: Corporate governance; financial leverage; concentrated ownership; capital structure; Altman Bankruptcy Index INTRODUCTION One of the issues which have been arisen in the financial markets i ...
... The institutional share has a significant and direct relationship with the financial leverage ratio. KEYWORDS: Corporate governance; financial leverage; concentrated ownership; capital structure; Altman Bankruptcy Index INTRODUCTION One of the issues which have been arisen in the financial markets i ...
Emerging Countries Sovereign Rating Adjustment using Market
... Paget-Blanc(2006)[19], and many others. Cantor and Packer(1996)[6] have shown that Moody’s and S&P’s ratings can be explained by a number of well-defined economic criteria. Ferri et al.(1999)[12] used these indicators to compare the ratings pre- and post- East Asian crisis. They reached the conclus ...
... Paget-Blanc(2006)[19], and many others. Cantor and Packer(1996)[6] have shown that Moody’s and S&P’s ratings can be explained by a number of well-defined economic criteria. Ferri et al.(1999)[12] used these indicators to compare the ratings pre- and post- East Asian crisis. They reached the conclus ...
COVENTRY GROUP LTD ANNUAL REPORT
... executive team, consideration will be given to any opportunities that may arise in this regard. As at June 2013, 19% of the Company’s employees were women. With the introduction of the Workplace Gender Equality Act 2012 last December, replacing the Equal Opportunity for Women in the Workplace Act 19 ...
... executive team, consideration will be given to any opportunities that may arise in this regard. As at June 2013, 19% of the Company’s employees were women. With the introduction of the Workplace Gender Equality Act 2012 last December, replacing the Equal Opportunity for Women in the Workplace Act 19 ...
Loan Securitization and the Monetary Transmission Mechanism
... or priced as part of an heterogeneous pool, if held on the balance sheet of secondary market investors. Banks incur higher cost of issuing credit relative to the secondary market, but have better information on the borrowers. The secondary market is selected against by the underwriters, and always e ...
... or priced as part of an heterogeneous pool, if held on the balance sheet of secondary market investors. Banks incur higher cost of issuing credit relative to the secondary market, but have better information on the borrowers. The secondary market is selected against by the underwriters, and always e ...
PDF
... Champagne houses for the 1977 – 2003 period using system dynamics (SD) modeling principles. The results presented in this paper report on key financial indicators for that period for financial debt, performance and valuation of Champagne makers. It provides a sound basis to pursue this work, because ...
... Champagne houses for the 1977 – 2003 period using system dynamics (SD) modeling principles. The results presented in this paper report on key financial indicators for that period for financial debt, performance and valuation of Champagne makers. It provides a sound basis to pursue this work, because ...
NBER WORKING PAPER SERIES RATIONAL ASSET PRICES George M. Constantinides 8826
... level, we study the short-term risk-free rate, the term premium of long-term bonds over the risk-free rate, and the aggregate equity premium of the stock market over the risk-free rate. At the micro level, we study the premium of individual stock returns and of classes of stocks, such as the small-c ...
... level, we study the short-term risk-free rate, the term premium of long-term bonds over the risk-free rate, and the aggregate equity premium of the stock market over the risk-free rate. At the micro level, we study the premium of individual stock returns and of classes of stocks, such as the small-c ...
The Relationship between the Equity Risk Premium
... The myriad of works looking exclusively at the risk premium have focused primarily on its estimation. The resulting papers cover mainly the different methods of approach, which range from the use of accounting fundamentals (Tippett, 2000) to asset pricing models (Mehra and Prescott, 1985) and analys ...
... The myriad of works looking exclusively at the risk premium have focused primarily on its estimation. The resulting papers cover mainly the different methods of approach, which range from the use of accounting fundamentals (Tippett, 2000) to asset pricing models (Mehra and Prescott, 1985) and analys ...
MARKET SEGMENTATION AND THE COST OF CAPITAL IN
... complicated if there are positive shocks to the expected growth rate of dividends during the pre-liberalization window but no shocks after liberalization. For example, under Gordon’s dividend growth model, the estimation of the cost of capital must take into account the change in the expected growth ...
... complicated if there are positive shocks to the expected growth rate of dividends during the pre-liberalization window but no shocks after liberalization. For example, under Gordon’s dividend growth model, the estimation of the cost of capital must take into account the change in the expected growth ...
DOCUMENTOS DE TRABAJO Serie Economía CAPITAL CONTROLS AND THE COST OF DEBT
... We construct our data set for capital account restrictions by using the methodology introduced by Schindler (2009), which is based on information provided in the IMF’s Annual Report on Exchange Arrangements and Exchange Restrictions (AREAER). To reduce the potential for errors in the coding of the ...
... We construct our data set for capital account restrictions by using the methodology introduced by Schindler (2009), which is based on information provided in the IMF’s Annual Report on Exchange Arrangements and Exchange Restrictions (AREAER). To reduce the potential for errors in the coding of the ...
Strategy and Plans of the Triglav Group
... while maintaining the Group’s financial stability and capital adequacy, which is the basis for the dividend payment for 2016 as set out in the adopted dividend policy. Insurance business. The Group plans to book approximately the same volume of consolidated gross written premium as in 2016 and recor ...
... while maintaining the Group’s financial stability and capital adequacy, which is the basis for the dividend payment for 2016 as set out in the adopted dividend policy. Insurance business. The Group plans to book approximately the same volume of consolidated gross written premium as in 2016 and recor ...
