The Relationship Between Competition and Innovation: How
... Innovation projects are by definition risky, complex, involve intangible assets and their outcome is realized in the long-run. As competition increases, firms’ profits decrease, so firms are less able to both self finance their innovation projects and have access to the necessary external funds due ...
... Innovation projects are by definition risky, complex, involve intangible assets and their outcome is realized in the long-run. As competition increases, firms’ profits decrease, so firms are less able to both self finance their innovation projects and have access to the necessary external funds due ...
BANKING SECTOR IN SERBIA Third Quarter Report 2016
... The downward trend in banking employment in Serbia extended into the third quarter of 2016. Employment fell by a total of 107 persons, as 11 banks hired 115 new people, while 16 banks downsized their employment by 222. Given that five banks scaled down their networks by closing down 13 organisationa ...
... The downward trend in banking employment in Serbia extended into the third quarter of 2016. Employment fell by a total of 107 persons, as 11 banks hired 115 new people, while 16 banks downsized their employment by 222. Given that five banks scaled down their networks by closing down 13 organisationa ...
Discounting: A Review of the Basic Economics
... Environmental economics provides a good entry point to a discussion of discounting, as intertemporal issues play a particularly central role: the time scale of many environmental processes is radically longer than conventional economic time scales. Global warming and loss of biodiversity provide per ...
... Environmental economics provides a good entry point to a discussion of discounting, as intertemporal issues play a particularly central role: the time scale of many environmental processes is radically longer than conventional economic time scales. Global warming and loss of biodiversity provide per ...
be_2014_03_Outlook_BAE_03
... Bachmann electronic increases turnover and continues to develop its business segments. The Bachmann Group increased its turnover last year by nine percent, totaling 48.20 million euros for financial year 2013. Strategic actions lead to a trend reversal and let the international high-tech company loo ...
... Bachmann electronic increases turnover and continues to develop its business segments. The Bachmann Group increased its turnover last year by nine percent, totaling 48.20 million euros for financial year 2013. Strategic actions lead to a trend reversal and let the international high-tech company loo ...
2 MB
... The model is calibrated using Croatian data and simulated to see whether the CNB holds more reserves than the model suggests are necessary. We find that for plausible values of the parameters the model accounts for the recent buildup of foreign reserves in Croatia. However, quantitative implications ...
... The model is calibrated using Croatian data and simulated to see whether the CNB holds more reserves than the model suggests are necessary. We find that for plausible values of the parameters the model accounts for the recent buildup of foreign reserves in Croatia. However, quantitative implications ...
L. Favre, A. Signer. "The difficulties of measuring the benefits of hedge funds" Journal of Alternative Investment (Summer 2002)
... The usual approach in the mean-variance concept does not go far enough for hedge funds because various risks are ignored that are specific to hedge funds. One potential solution would be to adjust the return or the risk. As the previous discussion shows since standard deviation is not a suitable met ...
... The usual approach in the mean-variance concept does not go far enough for hedge funds because various risks are ignored that are specific to hedge funds. One potential solution would be to adjust the return or the risk. As the previous discussion shows since standard deviation is not a suitable met ...
form 10-k old national bancorp
... letters of credit, and lease financing. Residential real estate loans are either kept in our loan portfolio or sold to secondary investors, with gains or losses from the sales being recognized. Depository Activities We strive to serve individuals and commercial clients by providing depository servic ...
... letters of credit, and lease financing. Residential real estate loans are either kept in our loan portfolio or sold to secondary investors, with gains or losses from the sales being recognized. Depository Activities We strive to serve individuals and commercial clients by providing depository servic ...
Filed pursuant to Rule 424(b)(5) Registration No. 333
... The notes are structurally subordinated to debt of our subsidiaries, and payments related to the notes will be dependent upon our subsidiaries. Because we are a holding company, our rights and the rights of our creditors, including the holders of the notes, to participate in the distribution or allo ...
... The notes are structurally subordinated to debt of our subsidiaries, and payments related to the notes will be dependent upon our subsidiaries. Because we are a holding company, our rights and the rights of our creditors, including the holders of the notes, to participate in the distribution or allo ...
here - TIAA
... The broader NPI measures the time-weighted total rate of rate return for a very large pool of U.S. commercial and residential real estate properties held by institutional investors, removing the effects of any leverage (i.e., mortgage debt attached to the properties). The NPI is a property-only inde ...
... The broader NPI measures the time-weighted total rate of rate return for a very large pool of U.S. commercial and residential real estate properties held by institutional investors, removing the effects of any leverage (i.e., mortgage debt attached to the properties). The NPI is a property-only inde ...
printmgr file - Morgan Stanley
... Debt valuation adjustments (“DVA”) represent the change in the fair value resulting from fluctuations in the Firm’s credit spreads and other credit factors related to liabilities carried at fair value, primarily certain Long-term and Short-term borrowings. Amounts include Provision for (benefit from ...
... Debt valuation adjustments (“DVA”) represent the change in the fair value resulting from fluctuations in the Firm’s credit spreads and other credit factors related to liabilities carried at fair value, primarily certain Long-term and Short-term borrowings. Amounts include Provision for (benefit from ...
Credit Rating Agencies
... development of the structured finance market. Because many institutional investors and even banks viewed debt with the same credit rating as fungible, even the most complex, innovative, or opaque debt instrument could be sold as long as it received an investment-grade rating. Unlike with corporate d ...
... development of the structured finance market. Because many institutional investors and even banks viewed debt with the same credit rating as fungible, even the most complex, innovative, or opaque debt instrument could be sold as long as it received an investment-grade rating. Unlike with corporate d ...
Investors Bancorp Inc
... the most densely populated counties. All of the counties we serve have a strong mature market with median household incomes greater than $39,000. The household incomes in the counties we serve are all expected to increase in a range from 8.54% to 26.30% through 2016. The December 2012 unemployment r ...
... the most densely populated counties. All of the counties we serve have a strong mature market with median household incomes greater than $39,000. The household incomes in the counties we serve are all expected to increase in a range from 8.54% to 26.30% through 2016. The December 2012 unemployment r ...
Mutual Fund Age, Performance, and the Optimal Track Record
... all Morningstar U.S. equity funds between 1990 and 2015. I find that on a risk-adjusted basis, younger funds generally perform better than older funds. However, this relationship reverses when an age indicator is used, which distinguishes funds younger than three years from all other funds. I find t ...
... all Morningstar U.S. equity funds between 1990 and 2015. I find that on a risk-adjusted basis, younger funds generally perform better than older funds. However, this relationship reverses when an age indicator is used, which distinguishes funds younger than three years from all other funds. I find t ...
draft of chapter 2
... where the values of the constants, a & b, are determined through market research. The most salient feature of the quadratic relationship between investment size and profit is that there is an optimal ...
... where the values of the constants, a & b, are determined through market research. The most salient feature of the quadratic relationship between investment size and profit is that there is an optimal ...
Download attachment
... Short-term sukuk could serve as money market instruments for liquidity management purposes. Malaysia and Bahrain are the only Muslim countries that have developed an active interbank market. Since 2001, the Central Bank of Bahrain (CBB) has issued short-term sukuk (with a ...
... Short-term sukuk could serve as money market instruments for liquidity management purposes. Malaysia and Bahrain are the only Muslim countries that have developed an active interbank market. Since 2001, the Central Bank of Bahrain (CBB) has issued short-term sukuk (with a ...
Liquidity Crises, Liquidity Lines and Sovereign Risk December 2015
... liquidity (modeled as lenders’ heightened risk aversion). Having a facility that provides resources during capital flight can provide relief to the financial markets during times of stress1 . As sovereign bond spreads spiked during the global financial crisis, debates revived among policy-makers and ...
... liquidity (modeled as lenders’ heightened risk aversion). Having a facility that provides resources during capital flight can provide relief to the financial markets during times of stress1 . As sovereign bond spreads spiked during the global financial crisis, debates revived among policy-makers and ...
Corporate Bond Markets: A Global Perspective
... secondary market to absorb shocks in the case of a widespread bond sell-off e.g. as interest rates continue to rise. Even though trading is increasing, a number of research studies on the subject suggest that trading volume figures are being propped up by a small number of bonds being traded over an ...
... secondary market to absorb shocks in the case of a widespread bond sell-off e.g. as interest rates continue to rise. Even though trading is increasing, a number of research studies on the subject suggest that trading volume figures are being propped up by a small number of bonds being traded over an ...
SWP4: Corporate Bond Markets (Vol 1) - A global perspective
... secondary market to absorb shocks in the case of a widespread bond sell-off e.g. as interest rates continue to rise. Even though trading is increasing, a number of research studies on the subject suggest that trading volume figures are being propped up by a small number of bonds being traded over an ...
... secondary market to absorb shocks in the case of a widespread bond sell-off e.g. as interest rates continue to rise. Even though trading is increasing, a number of research studies on the subject suggest that trading volume figures are being propped up by a small number of bonds being traded over an ...
Repo and Securities Lending - Federal Reserve Bank of New York
... 4.1.1 Data collections based on reporting entity type ............................................ 46 4.1.2 Market-specific data collection ..................................................................... 52 4.2 Securities lending activities ..................................................... ...
... 4.1.1 Data collections based on reporting entity type ............................................ 46 4.1.2 Market-specific data collection ..................................................................... 52 4.2 Securities lending activities ..................................................... ...
The Development of Collective Investment
... stock exchange was already operating with more than one hundred (100) securities regularly traded which provided an investment avenue for the budding CIS. This CIS invested in bonds issued by foreign governments and banks as well as in plantation loans in the West Indies. Much as at that time there ...
... stock exchange was already operating with more than one hundred (100) securities regularly traded which provided an investment avenue for the budding CIS. This CIS invested in bonds issued by foreign governments and banks as well as in plantation loans in the West Indies. Much as at that time there ...
Similarities and Differences between US and German Regulation of
... considered representative of the broader EU-wide regulation in this study; however, it is important to note that the implementation date and/or details of regulation in other EU-countries may differ. Funds might use derivatives for various reasons, e.g., to hedge interest rates, currency, or market ...
... considered representative of the broader EU-wide regulation in this study; however, it is important to note that the implementation date and/or details of regulation in other EU-countries may differ. Funds might use derivatives for various reasons, e.g., to hedge interest rates, currency, or market ...
Use of Local Currencies in CIF Projects
... Option 2: Agree that the SCF Trust Fund bears the currency risk related to the repayments of private sector investments financed by the SCF Trust Fund that are deployed by the MDBs in local currency to meet the needs of local projects/borrowers. Further, agree that the CTF Trust Fund bears the curre ...
... Option 2: Agree that the SCF Trust Fund bears the currency risk related to the repayments of private sector investments financed by the SCF Trust Fund that are deployed by the MDBs in local currency to meet the needs of local projects/borrowers. Further, agree that the CTF Trust Fund bears the curre ...
Alternative Investment Fund Managers Directive
... reverse solicitation—it is a passive activity reactive to third-party inquiries of interest in the AIFM.”44 The concern regarding reverse solicitation is that the term “marketing” is broad and vague, which is a trap for the unwary.45 In the 2011 incarnation of the AIFMD, the European Parliament defi ...
... reverse solicitation—it is a passive activity reactive to third-party inquiries of interest in the AIFM.”44 The concern regarding reverse solicitation is that the term “marketing” is broad and vague, which is a trap for the unwary.45 In the 2011 incarnation of the AIFMD, the European Parliament defi ...
Sample Chapter - McGraw Hill Higher Education
... invested and low returns are earned when less money is at risk. In Table 5.1, the higher returns (25% and 20%) were achieved in quarters 2 and 4, when the fund managed $1,200,000 and $800,000, respectively. The lower returns (220% and 10%) occurred when the fund managed $2,000,000 and $1,000,000, re ...
... invested and low returns are earned when less money is at risk. In Table 5.1, the higher returns (25% and 20%) were achieved in quarters 2 and 4, when the fund managed $1,200,000 and $800,000, respectively. The lower returns (220% and 10%) occurred when the fund managed $2,000,000 and $1,000,000, re ...
PDF Basics of Fannie Mae Single
... Fannie Mae MBS offer investors high quality investments with attractive yields to fit their portfolio needs or investment strategies. Investors should exercise care to understand fully the value of any mortgage investment and carefully review the applicable disclosure documents. Investors may wish t ...
... Fannie Mae MBS offer investors high quality investments with attractive yields to fit their portfolio needs or investment strategies. Investors should exercise care to understand fully the value of any mortgage investment and carefully review the applicable disclosure documents. Investors may wish t ...