NRG Energy Investor Conference- Day 2: Afternoon Presentation
... – Mutually Agreed Fixed Price Methodology – contractual agreement on how line items will be calculated/estimated for the Fixed Price ...
... – Mutually Agreed Fixed Price Methodology – contractual agreement on how line items will be calculated/estimated for the Fixed Price ...
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... ratio, market structure I. INTRODUCTION The global financial crisis was triggered by hypnotic subprime mortgage crisis in United States at July 2007 with negative impact on financial industry markets around the world. It causes loss of many financial institutions, including banks. In countries where ...
... ratio, market structure I. INTRODUCTION The global financial crisis was triggered by hypnotic subprime mortgage crisis in United States at July 2007 with negative impact on financial industry markets around the world. It causes loss of many financial institutions, including banks. In countries where ...
The case for multi asset investment
... bonds or cash). The charts below show a simple example of expected risk and returns for a strategic asset allocation of equities, bonds and cash compared to single bond or equity strategies. They demonstrate how combining the different properties of asset classes can deliver a smoother profile over ...
... bonds or cash). The charts below show a simple example of expected risk and returns for a strategic asset allocation of equities, bonds and cash compared to single bond or equity strategies. They demonstrate how combining the different properties of asset classes can deliver a smoother profile over ...
From agent-based models to artificial economies: the Eurace approach for policy
... What emerges from this description of assets and aws of DSGE models is the need for an alternative approach able to generalize or complement the standard macroeconomic framework. The main objective of this thesis is to show that agent-based modelling in economics represents an valid alternative to ...
... What emerges from this description of assets and aws of DSGE models is the need for an alternative approach able to generalize or complement the standard macroeconomic framework. The main objective of this thesis is to show that agent-based modelling in economics represents an valid alternative to ...
Determinants of Commercial Banks` Lending
... problems because high-risk borrowers are willing to accept these high rates. Once these borrowers receive the loans, they may develop moral hazard behaviour or so called borrower moral hazard since they are likely to take on highly risky projects or investments (Chodecai, 2004). From the reasoning o ...
... problems because high-risk borrowers are willing to accept these high rates. Once these borrowers receive the loans, they may develop moral hazard behaviour or so called borrower moral hazard since they are likely to take on highly risky projects or investments (Chodecai, 2004). From the reasoning o ...
Understanding Short-termism: the Role of Corporate Governance.
... consistent over time, and thereby do not look at how actors define their own time horizons. While some studies consider two years as an empirically useful rule of thumb for distinguishing the short-term from the long-term (Tonello 2006), this benchmark is somewhat arbitrary. Time horizons for assess ...
... consistent over time, and thereby do not look at how actors define their own time horizons. While some studies consider two years as an empirically useful rule of thumb for distinguishing the short-term from the long-term (Tonello 2006), this benchmark is somewhat arbitrary. Time horizons for assess ...
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... becomes Dogs. The exact measure is the brand's share relative to its largest competitor. Thus, if the brand had a share of 20 percent, and the largest competitor had the same, the ratio would be 1:1. If the largest competitor had a share of 60 per cent, however, the ratio would be 1:3, implying that ...
... becomes Dogs. The exact measure is the brand's share relative to its largest competitor. Thus, if the brand had a share of 20 percent, and the largest competitor had the same, the ratio would be 1:1. If the largest competitor had a share of 60 per cent, however, the ratio would be 1:3, implying that ...
Advanced Accounting by Hoyle et al, 6th Edition
... Contractual arrangements limit returns to equity holders yet participation rights provide increased profit potential and risks to sponsor. Risks and rewards are not distributed according to stock ownership but by other variable interests. Sponsor’s economic interest vary depending on the VIE’s succe ...
... Contractual arrangements limit returns to equity holders yet participation rights provide increased profit potential and risks to sponsor. Risks and rewards are not distributed according to stock ownership but by other variable interests. Sponsor’s economic interest vary depending on the VIE’s succe ...
Moody`s Credit AssessmentTM Expanding Credit Horizons
... or delivery of any such information, or (b) any direct, indirect, special, consequential, compensatory or incidental damages whatsoever (including without limitation, lost profits), even if MOODY’S is advised in advance of the possibility of such damages, resulting from the use of or inability to us ...
... or delivery of any such information, or (b) any direct, indirect, special, consequential, compensatory or incidental damages whatsoever (including without limitation, lost profits), even if MOODY’S is advised in advance of the possibility of such damages, resulting from the use of or inability to us ...
Productivity and economic profits of banks
... individual banks, even under complete information. Therefore, according to these results average distance between banks and creditors does not depend only on the incentives to invest in information acquisition (Agarwal and Hauswald, 2010), or on differences in IT investment (Petersen and Rajan, 2002 ...
... individual banks, even under complete information. Therefore, according to these results average distance between banks and creditors does not depend only on the incentives to invest in information acquisition (Agarwal and Hauswald, 2010), or on differences in IT investment (Petersen and Rajan, 2002 ...
Foord Conservative Fund (Class B2)
... portfolios, which may levy their own charges, which could result in a higher fee structure. A feeder fund is a portfolio that, apart from assets in liquid form, consists solely of units in a single portfolio of a Collective Investment Scheme which could result in a higher fee structure. Foord Unit T ...
... portfolios, which may levy their own charges, which could result in a higher fee structure. A feeder fund is a portfolio that, apart from assets in liquid form, consists solely of units in a single portfolio of a Collective Investment Scheme which could result in a higher fee structure. Foord Unit T ...
Bond Prospectus of Limited Liability Company
... The risks indicated in this section may reduce the Issuer’s ability to fulfil its obligations and cause its insolvency in the worst-case scenario. Bondholders have to take into account that Bonds are not secured by pledge and third parties have not guaranteed for Bonds and Coupon payments related th ...
... The risks indicated in this section may reduce the Issuer’s ability to fulfil its obligations and cause its insolvency in the worst-case scenario. Bondholders have to take into account that Bonds are not secured by pledge and third parties have not guaranteed for Bonds and Coupon payments related th ...
Regime of Capital Gain Tax
... Same principles for Physical Securities Deposited into CDS has been applied on Foreign Institutional Investors with necessary modifications. ...
... Same principles for Physical Securities Deposited into CDS has been applied on Foreign Institutional Investors with necessary modifications. ...
How did US corporate securities markets differ from Europe`s before
... listing bonds or preferences or foreign listings, but others are smaller officially-listed domestic ordinary shares. He refers to his 1,400 total (and 950 domestic shown here) as “equities listed on the London Stock Exchange.” As the large (included) provincial issues and small, numerous (omitted) L ...
... listing bonds or preferences or foreign listings, but others are smaller officially-listed domestic ordinary shares. He refers to his 1,400 total (and 950 domestic shown here) as “equities listed on the London Stock Exchange.” As the large (included) provincial issues and small, numerous (omitted) L ...
2011 Annual Report (Opens in a new Window)
... offs for 2011 was $10.9 million, up $2.2 milbefore maturity), and limited interest rate risk. lion from the 2010 loan losses of $8.7 million. The investment portfolio has two primary The losses recognized were on larger loans, components: the first segment includes mortwhich contributed to the highe ...
... offs for 2011 was $10.9 million, up $2.2 milbefore maturity), and limited interest rate risk. lion from the 2010 loan losses of $8.7 million. The investment portfolio has two primary The losses recognized were on larger loans, components: the first segment includes mortwhich contributed to the highe ...
A Causal Framework for Credit Default Theory
... and insolvency are necessary and sufficient for credit default. In reality a credit default event for a secured loan is a sequence of two temporally separated events: a delinquency event followed by an insolvency event. If a borrower always make full loan payments by due dates20, insolvency is irrel ...
... and insolvency are necessary and sufficient for credit default. In reality a credit default event for a secured loan is a sequence of two temporally separated events: a delinquency event followed by an insolvency event. If a borrower always make full loan payments by due dates20, insolvency is irrel ...
The Flight from Maturity*
... Asset-backed commercial paper (ABCP) conduits are a special type of CP issuer. Such a conduit is a special purpose vehicle (a legal entity) that buys asset-backed securities, financing this by issuing commercial paper. See Covitz, Liang, and Suarez (2009) and Acharya, Schnabl and Suarez (2011). The ...
... Asset-backed commercial paper (ABCP) conduits are a special type of CP issuer. Such a conduit is a special purpose vehicle (a legal entity) that buys asset-backed securities, financing this by issuing commercial paper. See Covitz, Liang, and Suarez (2009) and Acharya, Schnabl and Suarez (2011). The ...
STRATEGY FOR POLAND
... number of necessary changes (both legal and structural), which will require substantial work going forward. The on-going pension fund reform is not helping in pursuing the planned changes, since it may negatively impact the functioning of the Polish capital market. Uncertainties regarding the future ...
... number of necessary changes (both legal and structural), which will require substantial work going forward. The on-going pension fund reform is not helping in pursuing the planned changes, since it may negatively impact the functioning of the Polish capital market. Uncertainties regarding the future ...
Do Banks Really Care? Social Norms in Bank Lending This version
... provided in Dealscan to identify the industry group each borrower belongs to. We group borrowers based on Fama and French (1997) industry classification. Firms in Fama-French industry group 4 with SIC codes 2080 - 2085 belong to the Beer & Liquor group and firms in industry group 5 with SIC codes 21 ...
... provided in Dealscan to identify the industry group each borrower belongs to. We group borrowers based on Fama and French (1997) industry classification. Firms in Fama-French industry group 4 with SIC codes 2080 - 2085 belong to the Beer & Liquor group and firms in industry group 5 with SIC codes 21 ...
DEBT – Equity Mix - Scholars Middle East Publishers
... other words, whatever the debt-equity mix, the cost of capital and firm value remain same. In other words, capital structure is irrelevant to firm value. They argued that the firm value is influenced by net operating income (Earning before interest and taxes) and risk of its assets (business risks). ...
... other words, whatever the debt-equity mix, the cost of capital and firm value remain same. In other words, capital structure is irrelevant to firm value. They argued that the firm value is influenced by net operating income (Earning before interest and taxes) and risk of its assets (business risks). ...
Identifying Speculative Bubbles: A Two-Pillar Surveillance
... References to “bubbles” throughout this paper are made in the general sense: (i) of an asset price so high that no reasonable (probability-weighted) future scenario for fundamentals could justify it, and (ii) where the expectation of future short-term price gains drives explosive self-fulfilling inc ...
... References to “bubbles” throughout this paper are made in the general sense: (i) of an asset price so high that no reasonable (probability-weighted) future scenario for fundamentals could justify it, and (ii) where the expectation of future short-term price gains drives explosive self-fulfilling inc ...
Wescott: A History of Our Advice - Wescott Financial Advisory Group
... During 2005 we will be raising the non-U.S. allocation to 30% of the equity allocation in all our models....Our pending allocation changes are not being made because we feel that the U.S. economy is on the brink of disaster. Quite the contrary.....There is a huge market developing, as citizens of ot ...
... During 2005 we will be raising the non-U.S. allocation to 30% of the equity allocation in all our models....Our pending allocation changes are not being made because we feel that the U.S. economy is on the brink of disaster. Quite the contrary.....There is a huge market developing, as citizens of ot ...
Market concentration and competition in Vietnamese banking sector.
... less stable resulting from higher market competition and lower market concentration. In the contrast, the second view based on “risk shifting paradigm” ague that financial stability would be enhance as the banking sector becomes more competitive. Franchise value hypothesis focuses on the risk incent ...
... less stable resulting from higher market competition and lower market concentration. In the contrast, the second view based on “risk shifting paradigm” ague that financial stability would be enhance as the banking sector becomes more competitive. Franchise value hypothesis focuses on the risk incent ...