Expected Utility Maximization and Tail Risk
... if it takes into account information about the tail of the underlying distribution. The use of a risk measure free of tail risk avoids extreme loss in the tail of the underlying distribution. Several studies have discussed the concept of tail risk. The BIS Committee on the Global Financial System (2 ...
... if it takes into account information about the tail of the underlying distribution. The use of a risk measure free of tail risk avoids extreme loss in the tail of the underlying distribution. Several studies have discussed the concept of tail risk. The BIS Committee on the Global Financial System (2 ...
Calvert High Yield Bond Fund
... part, reflect the market’s expectations for higher U.S. economic growth and inflation. As a result of the Federal Reserve’s recent decision to raise the target fed funds rate following a similar move last year and the possibility that it may continue with such rate increases and/or unwind its quant ...
... part, reflect the market’s expectations for higher U.S. economic growth and inflation. As a result of the Federal Reserve’s recent decision to raise the target fed funds rate following a similar move last year and the possibility that it may continue with such rate increases and/or unwind its quant ...
Journal of Finance and Investment Analysis, vol. 4, no.2, 2015,... ISSN: 2241-0998 (print version), 2241-0996(online)
... The question of optimal portfolio choices is vital – for investment bankers dealing with billions of dollars as well for individual investors securing their retirement income. In many instances the investment decisions of both experienced and novice investors are far from optimal and frequently made ...
... The question of optimal portfolio choices is vital – for investment bankers dealing with billions of dollars as well for individual investors securing their retirement income. In many instances the investment decisions of both experienced and novice investors are far from optimal and frequently made ...
Financial Growth in Singapore
... is the primary economic function of financial intermediaries. In addition, financial intermediaries also help individual savers to diversify risk since being large, they gain economies of scale in analysing the creditworthiness of potential borrowers, in processing and collecting loans, and in pooli ...
... is the primary economic function of financial intermediaries. In addition, financial intermediaries also help individual savers to diversify risk since being large, they gain economies of scale in analysing the creditworthiness of potential borrowers, in processing and collecting loans, and in pooli ...
Self-Storage Industry Is Poised for More Growth
... possibility of human or mechanical error as well as other factors, however, all information contained herein is provided “AS IS” without warranty of any kind. MOODY'S adopts all necessary measures so that the information it uses in assigning a credit rating is of sufficient quality and from sources ...
... possibility of human or mechanical error as well as other factors, however, all information contained herein is provided “AS IS” without warranty of any kind. MOODY'S adopts all necessary measures so that the information it uses in assigning a credit rating is of sufficient quality and from sources ...
Paper-14: Advanced Financial Management
... beta of the stock is 1.60 and the return on the market index is 13%. If the risk free-free rate of return is 8%, by how much should the price of the stock be raised in percentage terms so that it is at equilibrium? (c) Write any three differences between the primary market and the secondary market. ...
... beta of the stock is 1.60 and the return on the market index is 13%. If the risk free-free rate of return is 8%, by how much should the price of the stock be raised in percentage terms so that it is at equilibrium? (c) Write any three differences between the primary market and the secondary market. ...
capital markets and economic growth: long-‐term
... Figure 16: Ratio of bonds issued by financial corporations in Europe and the US ............................................... 44 Figure 17: GDP per capita and capital market depth .......................................... ...
... Figure 16: Ratio of bonds issued by financial corporations in Europe and the US ............................................... 44 Figure 17: GDP per capita and capital market depth .......................................... ...
Market-Consistent Valuations of Life Insurance Business
... time as annual bonuses (dividends in U.S. terminology) are declared and added to the policy. The assets backing policies are usually a mixture of bonds, equities, property and cash. A policyholder’s premiums accumulate over the course of the policy, with the investment return that has been earned; w ...
... time as annual bonuses (dividends in U.S. terminology) are declared and added to the policy. The assets backing policies are usually a mixture of bonds, equities, property and cash. A policyholder’s premiums accumulate over the course of the policy, with the investment return that has been earned; w ...
Synovus to Acquire Entaire Global Companies, Inc.
... differ materially from those contemplated by such forward-looking statements. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this press release. Many of these factors are beyond Synovus’ ability to control or predict. ...
... differ materially from those contemplated by such forward-looking statements. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this press release. Many of these factors are beyond Synovus’ ability to control or predict. ...
The impact of a firm`s carbon risk profile on the cost of debt capital
... systems and able to address these risks before they become bigger problems. Furthermore, Cogan et al. (2008) argue that lenders consider not only the costs of carbon emissions but also whether firms develop carbon emissions reduction strategies in their lending decisions. To the extent that increas ...
... systems and able to address these risks before they become bigger problems. Furthermore, Cogan et al. (2008) argue that lenders consider not only the costs of carbon emissions but also whether firms develop carbon emissions reduction strategies in their lending decisions. To the extent that increas ...
Hometown Investment Trust funds: an Analysis of Credit Risk
... business. The industry sector includes mining; manufacturing; and electricity, gas, and water production and supply industries. Data for 2007–2010 are based on following criteria: number of employees fewer than 2,000, sales of CNY300 million or less, or total assets of CNY400 million or less. Medium ...
... business. The industry sector includes mining; manufacturing; and electricity, gas, and water production and supply industries. Data for 2007–2010 are based on following criteria: number of employees fewer than 2,000, sales of CNY300 million or less, or total assets of CNY400 million or less. Medium ...
Income Inequality and Asset Prices under Redistributive Taxation ˇ Luboˇs P´astor
... heavier taxation amplifies both selection effects, with interesting implications for inequality and asset prices. Hombert, Schoar, Sraer, and Thesmar (2014) review other reasons, besides skill and risk aversion, for which agents become entrepreneurs. Hombert et al. also extend Lucas (1978) by making ...
... heavier taxation amplifies both selection effects, with interesting implications for inequality and asset prices. Hombert, Schoar, Sraer, and Thesmar (2014) review other reasons, besides skill and risk aversion, for which agents become entrepreneurs. Hombert et al. also extend Lucas (1978) by making ...
GOVERNMENT SHAREHOLDING AND FINANCIAL HEALTH OF
... the activities of stockholders and from other companies” (Dyckman et al., 2014, p. 28). When the government is a shareholder, the separation of activities may be not so clear in practice. Several studies have shown that it is common for government agents and political groups to use equity holdings t ...
... the activities of stockholders and from other companies” (Dyckman et al., 2014, p. 28). When the government is a shareholder, the separation of activities may be not so clear in practice. Several studies have shown that it is common for government agents and political groups to use equity holdings t ...
An Introduction to CNAO`s Audits of Government Debts Government
... instance, debts with a direct local government obligation to pay back were growing rapidly, some localities and industries were heavily burdened with debts, local government debts had high reliance on land revenue, and some localities and institutions had irregularities in financing and the use of g ...
... instance, debts with a direct local government obligation to pay back were growing rapidly, some localities and industries were heavily burdened with debts, local government debts had high reliance on land revenue, and some localities and institutions had irregularities in financing and the use of g ...
NBER WORKING PAPER SERIES MARKET SELECTION Leonid Kogan Stephen Ross
... primitives, specifically in those with bounded aggregate consumption.1 Kogan, Ross, Wang, and Westerfield (2006) demonstrate in a setting without intermediate consumption that if aggregate endowment is unbounded, agents with incorrect beliefs can survive. Moreover, they show that even when such agent ...
... primitives, specifically in those with bounded aggregate consumption.1 Kogan, Ross, Wang, and Westerfield (2006) demonstrate in a setting without intermediate consumption that if aggregate endowment is unbounded, agents with incorrect beliefs can survive. Moreover, they show that even when such agent ...
A Tale of Two Nudges: Improving Financial Outcomes for Boomers
... ber of years, near-retiree boomers tend to be very idiosyncratic. One-size-fits-all nudges and defaults are problematic in the face of such heterogeneity. The article discusses the social and behavioral issues of benefits design and advice across age cohorts. While millennials typically do not seek ...
... ber of years, near-retiree boomers tend to be very idiosyncratic. One-size-fits-all nudges and defaults are problematic in the face of such heterogeneity. The article discusses the social and behavioral issues of benefits design and advice across age cohorts. While millennials typically do not seek ...
IBD - moderate financial risk
... There are a number of combination inhalers now available (ICS/LABA and LABA/LAMA) – local guidelines should be developed on their place in therapy. ...
... There are a number of combination inhalers now available (ICS/LABA and LABA/LAMA) – local guidelines should be developed on their place in therapy. ...