NBER WORKING PAPER SERIES FINANCIAL GLOBALIZATION, FINANCIAL CRISES, AND THE EXTERNAL
... even more, leaving them exposed to a greater risk of hitting the credit constraint. If this does happen, the classic Fisherian debt-de ation mechanism is set in motion and a full-blown nancial crisis follows. The crisis is characterized by a re-sale of equity and a sudden reversal in the debt pos ...
... even more, leaving them exposed to a greater risk of hitting the credit constraint. If this does happen, the classic Fisherian debt-de ation mechanism is set in motion and a full-blown nancial crisis follows. The crisis is characterized by a re-sale of equity and a sudden reversal in the debt pos ...
Sparinvest White paper - Risk Containment in Emerging Markets
... Risk factors in emerging markets There are number of risk factors that need careful consideration when investing in emerging markets. On the one hand, these risks present opportunities for the investor, as misperceptions of their nature and magnitude can potentially lead to higher risk-adjusted retu ...
... Risk factors in emerging markets There are number of risk factors that need careful consideration when investing in emerging markets. On the one hand, these risks present opportunities for the investor, as misperceptions of their nature and magnitude can potentially lead to higher risk-adjusted retu ...
Moneysupermarket has a forecast dividend yield of over
... Adjusted earnings per share in H1 2013 were 5.2p which compares to 4.2p last year. In the whole of 2012 earnings per share were 9p versus 6.9p the year before. Summary and valuation Moneysupermarket is on a forecast P/E ratio of 15X for 2014 which falls to 13.8X in 2015. For both years the forecast ...
... Adjusted earnings per share in H1 2013 were 5.2p which compares to 4.2p last year. In the whole of 2012 earnings per share were 9p versus 6.9p the year before. Summary and valuation Moneysupermarket is on a forecast P/E ratio of 15X for 2014 which falls to 13.8X in 2015. For both years the forecast ...
Core High Yield Fund - John Hancock Investments
... Foreign securities risk. Less information may be publicly available regarding foreign issuers. Foreign securities may be subject to foreign taxes and may be more volatile than U.S. securities. Currency fluctuations and political and economic developments may adversely impact the value of foreign sec ...
... Foreign securities risk. Less information may be publicly available regarding foreign issuers. Foreign securities may be subject to foreign taxes and may be more volatile than U.S. securities. Currency fluctuations and political and economic developments may adversely impact the value of foreign sec ...
Theory of the Firm: Managerial Behavior, Agency Costs and
... preferences as opposed to value maximization in decision making, and the costs of monitoring and bonding activities. • cost of measuring the manager’s (agent’s) performance and evaluating it, the cost of devising and applying an index for compensating the manager which correlates with the owner’s (p ...
... preferences as opposed to value maximization in decision making, and the costs of monitoring and bonding activities. • cost of measuring the manager’s (agent’s) performance and evaluating it, the cost of devising and applying an index for compensating the manager which correlates with the owner’s (p ...
Training - NYU Stern
... Hostile Acquisitions: Evidence of a control effect a. Premiums paid for target firms in acquisitions: While the average premium paid for target firms in acquisitions in the United States has been between 20 and 30% in the 1980s and 1990s, the premiums tend to be slightly higher for hostile acquisit ...
... Hostile Acquisitions: Evidence of a control effect a. Premiums paid for target firms in acquisitions: While the average premium paid for target firms in acquisitions in the United States has been between 20 and 30% in the 1980s and 1990s, the premiums tend to be slightly higher for hostile acquisit ...
ANNEX II NON-REPORTING UK FINANCIAL INSTITUTIONS AND
... intended beneficiaries of a governmental program, and the program activities are performed for the general public with respect to the common welfare or relate to the administration of some phase of government. Notwithstanding the foregoing, however, income is considered to inure to the benefit of pr ...
... intended beneficiaries of a governmental program, and the program activities are performed for the general public with respect to the common welfare or relate to the administration of some phase of government. Notwithstanding the foregoing, however, income is considered to inure to the benefit of pr ...
Have big banks gotten safer?
... information on bank security prices. Indeed, according to standard financial theories, the idea that banks are better capitalized and hold fewer risky assets has clear implications for the pricing of their securities. With less leverage, bank equity should be less volatile, and there should be less ...
... information on bank security prices. Indeed, according to standard financial theories, the idea that banks are better capitalized and hold fewer risky assets has clear implications for the pricing of their securities. With less leverage, bank equity should be less volatile, and there should be less ...
(as for FX options).
... • Derivative defined: – An executory contract (to be executed or performed later by both parties), the value of which depends on the changes in another measure of value (often referred to as the “underlying” item). ...
... • Derivative defined: – An executory contract (to be executed or performed later by both parties), the value of which depends on the changes in another measure of value (often referred to as the “underlying” item). ...
CanWel Building Materials Group Ltd. Consolidated Financial
... Foreign currency transactions are translated into the functional currency using the spot rate prevailing at the date the transaction first qualifies for recognition. Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot rate at the reporting ...
... Foreign currency transactions are translated into the functional currency using the spot rate prevailing at the date the transaction first qualifies for recognition. Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot rate at the reporting ...
Uncertainty Outside and Inside Economic Models * Prize Lecture, December 8, 2013
... models. I will initially describe the methods and outcomes from an econometrician outside the model. Stochastic discount factors are defined with respect to a probability distribution relevant to investors inside the model. Lucas (1972) and others imposed rational expectations as an equilibrium conc ...
... models. I will initially describe the methods and outcomes from an econometrician outside the model. Stochastic discount factors are defined with respect to a probability distribution relevant to investors inside the model. Lucas (1972) and others imposed rational expectations as an equilibrium conc ...
Correlation Analysis Between Commodity Market And Stock Market
... treated as substitutes. Finally, our analysis could be further refined to account for the fact that institutional investors also hold corporate bonds of different grades, real estate, artwork, or hedge funds as part of their asset allocation. A thorough analysis of the temporal variations between co ...
... treated as substitutes. Finally, our analysis could be further refined to account for the fact that institutional investors also hold corporate bonds of different grades, real estate, artwork, or hedge funds as part of their asset allocation. A thorough analysis of the temporal variations between co ...
Overview of Investigation
... • Three types of factors likely the augment market risk factor: – Factors that hedge consumption against uncertainty in prices – Factors that hedge future investment opps. – Factors that hedge assets missing from market index (labor income) ...
... • Three types of factors likely the augment market risk factor: – Factors that hedge consumption against uncertainty in prices – Factors that hedge future investment opps. – Factors that hedge assets missing from market index (labor income) ...
IBLLC Firm-Specific Disclosure 12-09-16
... 1977, after purchasing a seat on the American Stock Exchange and trading as an individual marker maker in equity options, Mr. Peterffy was among the first to apply a computerized mathematical model to continuously value equity option prices. By 1986, Mr. Peterffy developed and employed a fully integ ...
... 1977, after purchasing a seat on the American Stock Exchange and trading as an individual marker maker in equity options, Mr. Peterffy was among the first to apply a computerized mathematical model to continuously value equity option prices. By 1986, Mr. Peterffy developed and employed a fully integ ...
InnovFin Equity Investment Guidelines
... Means either an InnovFin Final Recipient or an EFG Final Recipient. InnovFin Financial Intermediary or EFG Financial Intermediary. Means either an InnovFin Fund Agreement or EFG Agreement, as appropriate. In the case of a Multi-Stage Financial Intermediary, any such single agreement where the EIF co ...
... Means either an InnovFin Final Recipient or an EFG Final Recipient. InnovFin Financial Intermediary or EFG Financial Intermediary. Means either an InnovFin Fund Agreement or EFG Agreement, as appropriate. In the case of a Multi-Stage Financial Intermediary, any such single agreement where the EIF co ...
Summary Prospectus - Select Sector SPDRs
... companies experience substantial declines in the valuations of their assets, take action to raise capital (such as the issuance of debt or equity securities), or cease operations. Credit losses resulting from financial difficulties of borrowers and financial losses associated with investment activit ...
... companies experience substantial declines in the valuations of their assets, take action to raise capital (such as the issuance of debt or equity securities), or cease operations. Credit losses resulting from financial difficulties of borrowers and financial losses associated with investment activit ...