An analysis of financial ratios for the Oslo Stock
... with expectations. If good results are expected, earnings growth is priced in at the time of publication, and earnings growth for the previous year will therefore also be reflected in price movements in the course of the period. Chart 1 shows price movements, after-tax earnings and book values for c ...
... with expectations. If good results are expected, earnings growth is priced in at the time of publication, and earnings growth for the previous year will therefore also be reflected in price movements in the course of the period. Chart 1 shows price movements, after-tax earnings and book values for c ...
Managerial incentives to increase firm volatility provided by debt
... To estimate these sensitivities, we follow Merton (1974) and value total firm equity (stock and stock options) as an option on the value of firm assets. The model gives an estimate of the decrease in debt value for an increase in firm volatility. This decrease in debt value implies an equal increase ...
... To estimate these sensitivities, we follow Merton (1974) and value total firm equity (stock and stock options) as an option on the value of firm assets. The model gives an estimate of the decrease in debt value for an increase in firm volatility. This decrease in debt value implies an equal increase ...
NODE
... Elementary data structures are the data types that are implemented in programming language syntax, or can be added with little effort. Basically, structures, arrays, linked lists and strings are sufficient to implement most of the useful data ...
... Elementary data structures are the data types that are implemented in programming language syntax, or can be added with little effort. Basically, structures, arrays, linked lists and strings are sufficient to implement most of the useful data ...
Week 5 Solutions 1.Which of the following is not correct with
... You then need to now write a function that adds up two digits. You decide to reuse the product function rather than write an add function. (May not necessarily be a good idea).What is the flaw (if any) with this implementation ? Digit2 Sum(digit a, digit b) { digit i; Digit2 sum; for ...
... You then need to now write a function that adds up two digits. You decide to reuse the product function rather than write an add function. (May not necessarily be a good idea).What is the flaw (if any) with this implementation ? Digit2 Sum(digit a, digit b) { digit i; Digit2 sum; for ...
A Dynamic Index for Multi-Dimensional Objects
... the use of overlapping sub-regions was Guttman with his R-Trees [Gutt84a]. R-trees are an extension of B-trees for multi-dimensional objects that are either points or regions. Like B-trees, they are balanced (all leaf nodes appear on the same level, which is a desirable feature) and guarantee that t ...
... the use of overlapping sub-regions was Guttman with his R-Trees [Gutt84a]. R-trees are an extension of B-trees for multi-dimensional objects that are either points or regions. Like B-trees, they are balanced (all leaf nodes appear on the same level, which is a desirable feature) and guarantee that t ...
Linked Lists
... – Call isEmpty to determine whether the list is empty – If the list is empty, assign firstNode and lastNode to the new ListNode that was initialized with insertItem • The ListNode constructor call sets data to refer to the insertItem passed as an argument and sets reference nextNode to null – If the ...
... – Call isEmpty to determine whether the list is empty – If the list is empty, assign firstNode and lastNode to the new ListNode that was initialized with insertItem • The ListNode constructor call sets data to refer to the insertItem passed as an argument and sets reference nextNode to null – If the ...
Self Adjusting Contention Friendly Concurrent Binary Search Tree
... surprising that the known self-adjusting BST all modify the root with each access making it an immediate sequential bottleneck. Our approach minimizes this bottleneck by incorporating splaying technique on the tree in lazy manner. ...
... surprising that the known self-adjusting BST all modify the root with each access making it an immediate sequential bottleneck. Our approach minimizes this bottleneck by incorporating splaying technique on the tree in lazy manner. ...
The fundamental drivers of recent volatility in
... Sanders 2010, US Interagency Taskforce on Commodity Futures Markets 2008). A few studies have also employed daily disaggregated data from the CFTC’s large trader database and have reached the same conclusion (see, for example, Buyuksahin et al 2010, and Aulerich et al 2010). ...
... Sanders 2010, US Interagency Taskforce on Commodity Futures Markets 2008). A few studies have also employed daily disaggregated data from the CFTC’s large trader database and have reached the same conclusion (see, for example, Buyuksahin et al 2010, and Aulerich et al 2010). ...
Margin requirements with intraday dynamics
... extreme value theory requires tail estimates that are time invariant due to their fractal nature. This allows for precise tail measurement incorporating a simple and efficient scaling law for different frequency intervals, for example from intraday to daily estimates. One question that we may ask ab ...
... extreme value theory requires tail estimates that are time invariant due to their fractal nature. This allows for precise tail measurement incorporating a simple and efficient scaling law for different frequency intervals, for example from intraday to daily estimates. One question that we may ask ab ...
Caps, Floors and Collars
... volatility. An instrument expected to be volatile between entry and maturity will have a higher price than a low volatility instrument. The volatility used in calculating the price should be the expected future volatility. This is based on the historic volatility. As time goes by, the volatility wil ...
... volatility. An instrument expected to be volatile between entry and maturity will have a higher price than a low volatility instrument. The volatility used in calculating the price should be the expected future volatility. This is based on the historic volatility. As time goes by, the volatility wil ...
Self-Adjusting Binary Search Trees
... We introduce splay trees by way of a specific application. Consider the problem of performing a sequence of access operations on a set of items selected from a totally ordered universe. Each item may have some associated information. The input to each operation is an item; the output of the operatio ...
... We introduce splay trees by way of a specific application. Consider the problem of performing a sequence of access operations on a set of items selected from a totally ordered universe. Each item may have some associated information. The input to each operation is an item; the output of the operatio ...
Winners and Losers in Housing Markets
... house subject to the collateral constraint, which is smaller than a house that would be bought without the collateral constraint. As net worth further rises, the household upgrades along the housing ladder. At some stage, the household …nds it better to start repaying the debt rather than moving up ...
... house subject to the collateral constraint, which is smaller than a house that would be bought without the collateral constraint. As net worth further rises, the household upgrades along the housing ladder. At some stage, the household …nds it better to start repaying the debt rather than moving up ...
Distribution Risk and Equity Returns
... dF (λt+1 , µt+1 ; λt , µt ) and initial values λ0 , µ0 given. In equation (8), f (·) is the firm’s (increasing, concave, and differentiable) production technology, λt is an aggregate shock to productivity, nt denotes the period t level of hours (employment) engaged by the firm, kt is period t capita ...
... dF (λt+1 , µt+1 ; λt , µt ) and initial values λ0 , µ0 given. In equation (8), f (·) is the firm’s (increasing, concave, and differentiable) production technology, λt is an aggregate shock to productivity, nt denotes the period t level of hours (employment) engaged by the firm, kt is period t capita ...
The equity premium
... consumption may result in different degrees of well-being at different times. (For example, a fivecourse dinner after a heavy lunch yields considerably less satisfaction than a similar dinner when one is hungry!) As a consequence, assets that pay off when times are good and consumption levels are hi ...
... consumption may result in different degrees of well-being at different times. (For example, a fivecourse dinner after a heavy lunch yields considerably less satisfaction than a similar dinner when one is hungry!) As a consequence, assets that pay off when times are good and consumption levels are hi ...
NBER WORKING PAPER SERIES THE LONG SLUMP Robert E. Hall Working Paper 16741
... for investment banks and other financial entities thought to be free from government guarantees and the accompanying need for government supervision. The Securities and Exchange Commission eliminated capital requirements for investment banks in 2004 and their leverage rose. Risk analysis and loan un ...
... for investment banks and other financial entities thought to be free from government guarantees and the accompanying need for government supervision. The Securities and Exchange Commission eliminated capital requirements for investment banks in 2004 and their leverage rose. Risk analysis and loan un ...
Winners and Losers in Housing Markets
... house subject to the collateral constraint, which is smaller than a house that would be bought without the collateral constraint. As net worth further rises, the household upgrades along the housing ladder. At some stage, the household …nds it better to start repaying the debt rather than moving up ...
... house subject to the collateral constraint, which is smaller than a house that would be bought without the collateral constraint. As net worth further rises, the household upgrades along the housing ladder. At some stage, the household …nds it better to start repaying the debt rather than moving up ...
Economi versus Regulatory Capital
... on the other hand, contagion risk plays a major role, e.g. if both components are threatened with loss of reputation should problems arise in one of the constituent parts, financial stability would suffer from these cross-sector mergers. Closely related to this is the too-big-to-fail issue: is the m ...
... on the other hand, contagion risk plays a major role, e.g. if both components are threatened with loss of reputation should problems arise in one of the constituent parts, financial stability would suffer from these cross-sector mergers. Closely related to this is the too-big-to-fail issue: is the m ...
Global Market Outlook 2017 - State Street Global Advisors
... contrary, growth has slowed in the US, and virtually ground to a halt in Japan. The UK appears unlikely to escape entirely unscathed from the uncertainties surrounding Brexit. And while Europe has gained a little traction, it seems unable to break out to the upside with some of its major economies h ...
... contrary, growth has slowed in the US, and virtually ground to a halt in Japan. The UK appears unlikely to escape entirely unscathed from the uncertainties surrounding Brexit. And while Europe has gained a little traction, it seems unable to break out to the upside with some of its major economies h ...
Lattice model (finance)
For other meanings, see lattice model (disambiguation)In finance, a lattice model [1] is a technique applied to the valuation of derivatives, where, because of path dependence in the payoff, 1) a discretized model is required and 2) Monte Carlo methods fail to account for optimal decisions to terminate the derivative by early exercise. For equity options, a typical example would be pricing an American option, where a decision as to option exercise is required at ""all"" times (any time) before and including maturity. A continuous model, on the other hand, such as Black Scholes, would only allow for the valuation of European options, where exercise is on the option's maturity date. For interest rate derivatives lattices are additionally useful in that they address many of the issues encountered with continuous models, such as pull to par.