Global Risk Aversion, Contagion or Fundamentals?
... costs. This could also lead to an increase in rollover risk, as debt might have to be refinanced at unusually high cost or, in extreme cases, cannot be rolled over at all. Large increase in government funding costs can thus cause real economic losses, in addition to the purely financial effects of h ...
... costs. This could also lead to an increase in rollover risk, as debt might have to be refinanced at unusually high cost or, in extreme cases, cannot be rolled over at all. Large increase in government funding costs can thus cause real economic losses, in addition to the purely financial effects of h ...
Inferences about Supply Chain Practices using Financial Ratios
... defined as current assets minus current liabilities, which plays a major role in keeping the organization healthy and viable. The primary components of current assets are cash (and cash-like investments), accounts receivables, and inventories. The primary component of current liabilities is accounts ...
... defined as current assets minus current liabilities, which plays a major role in keeping the organization healthy and viable. The primary components of current assets are cash (and cash-like investments), accounts receivables, and inventories. The primary component of current liabilities is accounts ...
Financial Innovation, Collateral and Investment.
... Debreu. Their result may appear intuitive since one would expect that the need for collateral would prevent some investors from borrowing the money to invest, thus reducing production. In our model borrowers may also find themselves constrained: they cannot borrow more at the same interest rate on t ...
... Debreu. Their result may appear intuitive since one would expect that the need for collateral would prevent some investors from borrowing the money to invest, thus reducing production. In our model borrowers may also find themselves constrained: they cannot borrow more at the same interest rate on t ...
Prospectus - Franklin Templeton Investment Funds (SICAV)
... her/his Investor’s rights directly against the Company, notably the right to participate in general meetings of the Shareholders, if the Investor is registered himself and in his own name in the register of Shareholders of the Company. If an Investor invests in the Company through an intermediary in ...
... her/his Investor’s rights directly against the Company, notably the right to participate in general meetings of the Shareholders, if the Investor is registered himself and in his own name in the register of Shareholders of the Company. If an Investor invests in the Company through an intermediary in ...
Student Study Notes - Chapter 5
... using information provided on the income statement including sales, expenses, and thus, net income. There are two methods that are used in calculating and reporting the amount of cash flow from operating activities on the statement of cash flows: the indirect method and the direct method. Although b ...
... using information provided on the income statement including sales, expenses, and thus, net income. There are two methods that are used in calculating and reporting the amount of cash flow from operating activities on the statement of cash flows: the indirect method and the direct method. Although b ...
chapter2 - Economics Partners
... case, we have monopoly power, and corresponding economic profit, resulting from a firm’s intangible asset investments. Correspondingly, in the latter case, we have what economists call “monopolistic competition.” This is a situation wherein firms compete to gain market power by investing in intangib ...
... case, we have monopoly power, and corresponding economic profit, resulting from a firm’s intangible asset investments. Correspondingly, in the latter case, we have what economists call “monopolistic competition.” This is a situation wherein firms compete to gain market power by investing in intangib ...
One Half-Billion Shareholders and Counting
... compared to 58 in 1980 and currently 94% of the world population live in countries that have stock exchanges compared to 55% in the 1980s. Even after the worldwide decline in equity market values during 2008 and early 2009, stock market capitalization still equals two-thirds of total world GDP, esti ...
... compared to 58 in 1980 and currently 94% of the world population live in countries that have stock exchanges compared to 55% in the 1980s. Even after the worldwide decline in equity market values during 2008 and early 2009, stock market capitalization still equals two-thirds of total world GDP, esti ...
Uncertainty shocks, asset supply and pricing over the business cycle
... of our setup is that agents’ endogenous response to changes in uncertainty is reflected in the coefficients of the MS-VAR. Indeed, since ambiguity affects the worst case conditional mean, a linear approximation of the model solution works well even though uncertainty changes over time. We estimate t ...
... of our setup is that agents’ endogenous response to changes in uncertainty is reflected in the coefficients of the MS-VAR. Indeed, since ambiguity affects the worst case conditional mean, a linear approximation of the model solution works well even though uncertainty changes over time. We estimate t ...
Comments on “When Do TIPS Prices Adjust to
... • Hypothesis 3: The firm tends to pay a dividend if its covariance between the firm’s rate of return on equity and the firm’s growth rate is lower. H3a: The firm tends to stop paying a dividend if its covariance between the firm’s rate of return on equity and the firm’s growth rate is ...
... • Hypothesis 3: The firm tends to pay a dividend if its covariance between the firm’s rate of return on equity and the firm’s growth rate is lower. H3a: The firm tends to stop paying a dividend if its covariance between the firm’s rate of return on equity and the firm’s growth rate is ...
Regulatory guidance – Integrated risk
... determined by, and will be proportionate to, the trustees’ scheme objective and the employer’s objectives, in the light of their needs and circumstances. 14. Trustees should consider introducing IRM wherever the scheme lies within its actuarial valuation cycle. It does not have to wait until the nex ...
... determined by, and will be proportionate to, the trustees’ scheme objective and the employer’s objectives, in the light of their needs and circumstances. 14. Trustees should consider introducing IRM wherever the scheme lies within its actuarial valuation cycle. It does not have to wait until the nex ...
Loan impairment modeling according to IAS 39 by
... Total portfolio: Provisions at portfolio level •Individually non significant assets •Assets that are not individually impaired © 2007 KPMG Romania SRL, the Romanian member firm of KPMG International, a Swiss cooperative. All rights reserved. The KPMG logo and name are trademarks of KPMG Internationa ...
... Total portfolio: Provisions at portfolio level •Individually non significant assets •Assets that are not individually impaired © 2007 KPMG Romania SRL, the Romanian member firm of KPMG International, a Swiss cooperative. All rights reserved. The KPMG logo and name are trademarks of KPMG Internationa ...
Risk-Based Capital for Insurers in the United States
... Frederick S. Townsend The summaries of the debaters’ statements are identified by their names. John Nigh Companies can do the following to improve their RBC ratios: • Enhance capital - Receive investment from a parent company (i.e., get cash infusion into surplus), - Use reinsurance, - Structure fin ...
... Frederick S. Townsend The summaries of the debaters’ statements are identified by their names. John Nigh Companies can do the following to improve their RBC ratios: • Enhance capital - Receive investment from a parent company (i.e., get cash infusion into surplus), - Use reinsurance, - Structure fin ...
2014 results - Lloyds Banking Group
... This document contains certain forward looking statements with respect to the business, strategy and plans of Lloyds Banking Group and its current goals and expectations relating to its future financial condition and performance. Statements that are not historical facts, including statements about L ...
... This document contains certain forward looking statements with respect to the business, strategy and plans of Lloyds Banking Group and its current goals and expectations relating to its future financial condition and performance. Statements that are not historical facts, including statements about L ...
ANNUAL REPORT - Credit Libanais
... housing loan schemes: in this context, BDL subsidized housing loans increased by 66%; and other housing loans increased by 10%. Furthermore, in view of creating value for small and medium enterprises while supporting their sustainable development, the Bank provides them with advisory services to gro ...
... housing loan schemes: in this context, BDL subsidized housing loans increased by 66%; and other housing loans increased by 10%. Furthermore, in view of creating value for small and medium enterprises while supporting their sustainable development, the Bank provides them with advisory services to gro ...
NBER WORKING PAPER SERIES PRICE Nicolae Gârleanu
... can be difficult to sell. Further, to get credit exposure through a corporate bond, one must actually buy the bond for cash and try to fund it using a repo, which uses a broker’s balance sheet, while a CDS is an “unfunded” derivative with zero net present value, so the margin is only necessary to li ...
... can be difficult to sell. Further, to get credit exposure through a corporate bond, one must actually buy the bond for cash and try to fund it using a repo, which uses a broker’s balance sheet, while a CDS is an “unfunded” derivative with zero net present value, so the margin is only necessary to li ...
Capital Markets Union
... Our goal with this report is to offer analysis and evidence which can be helpful to policymakers and firms alike as they consider the near term changes proposed in the Commission’s 2015 action plan for a CMU, as well as the opportunities which further policy measures could unlock. PwC, by virtue of ...
... Our goal with this report is to offer analysis and evidence which can be helpful to policymakers and firms alike as they consider the near term changes proposed in the Commission’s 2015 action plan for a CMU, as well as the opportunities which further policy measures could unlock. PwC, by virtue of ...
Corporate Social Responsibility
... Corporate Social Responsibility (CSR) activities would experience a financial reward or penalty for the strategy. It is imperative that corporations act as partners in the attempt to improve conditions of society and the environment in which we all live. Two competing corporations were selected; one ...
... Corporate Social Responsibility (CSR) activities would experience a financial reward or penalty for the strategy. It is imperative that corporations act as partners in the attempt to improve conditions of society and the environment in which we all live. Two competing corporations were selected; one ...
The Impact of Foreign-Currency Movements on Equity
... to be accurate, complete, or timely. Morningstar shall not be responsible for any trading decisions, damages, or other losses resulting from, or related to, this information, data, analyses or opinions or their use. Past performance is no guarantee of future results. ...
... to be accurate, complete, or timely. Morningstar shall not be responsible for any trading decisions, damages, or other losses resulting from, or related to, this information, data, analyses or opinions or their use. Past performance is no guarantee of future results. ...
The Stoever Glass Municipal Bond Portfolio Planning Kit
... The model may suit you perfectly just as it is. However, if you think certain changes may be preferable, turn to “How to Modify the Model Portfolios”. That section shows you how to make adjustments and modifications to each of the model portfolios. You should finish our kit with a much better idea o ...
... The model may suit you perfectly just as it is. However, if you think certain changes may be preferable, turn to “How to Modify the Model Portfolios”. That section shows you how to make adjustments and modifications to each of the model portfolios. You should finish our kit with a much better idea o ...
Essays on international capital flows and macroeconomic stability
... standing of the transmission channel from global risk factors to domestic credit and saving. We estimate the time varying effects of risk on portfolio flows to South Africa, we estimate the transmission of portfolio flows to credit, and lastly we incorporate our empirical findings in a two-country D ...
... standing of the transmission channel from global risk factors to domestic credit and saving. We estimate the time varying effects of risk on portfolio flows to South Africa, we estimate the transmission of portfolio flows to credit, and lastly we incorporate our empirical findings in a two-country D ...
Liquidity provision, banking, and the allocation of interest rate risk*
... requires either that the economy as a whole ought to limit its exposure to interest rate risk, or that parties other than banks are better qualified to bear these risks. The underlying issue then is (i) what is an optimal level of aggregate exposure to interest rate risk and (ii) how are these risks ...
... requires either that the economy as a whole ought to limit its exposure to interest rate risk, or that parties other than banks are better qualified to bear these risks. The underlying issue then is (i) what is an optimal level of aggregate exposure to interest rate risk and (ii) how are these risks ...