Understanding Informal Financing
... also documents many anecdotal stories on how informal financing is used to support entrepreneurship. She differentiates these informal sources mainly along the legal boundary. For example, interpersonal lending and trade credit, the most basic strategies that entrepreneurs use to satisfy short liqu ...
... also documents many anecdotal stories on how informal financing is used to support entrepreneurship. She differentiates these informal sources mainly along the legal boundary. For example, interpersonal lending and trade credit, the most basic strategies that entrepreneurs use to satisfy short liqu ...
Common Agency and the Public Corporation
... act as a collective principal and management serving as the shareholders’ agent, increasing shareholder power is a natural regulatory posture. But taken as a whole, increasing institutionalization and pro-shareholder regulations create a governance dilemma: although shareholder power may result in r ...
... act as a collective principal and management serving as the shareholders’ agent, increasing shareholder power is a natural regulatory posture. But taken as a whole, increasing institutionalization and pro-shareholder regulations create a governance dilemma: although shareholder power may result in r ...
Competition, Reach for Yield, and Money Market Funds
... decreases with the cost of default, and the equilibrium default probability is strictly positive for (almost) all funds. Funds trade off expected costs of default for the expected gains of outperforming competitors by taking more risk. The fund with the highest default cost anticipates that in equil ...
... decreases with the cost of default, and the equilibrium default probability is strictly positive for (almost) all funds. Funds trade off expected costs of default for the expected gains of outperforming competitors by taking more risk. The fund with the highest default cost anticipates that in equil ...
Standard Bank Group
... include the exposures from our global markets outside Africa operations, which for financial reporting purposes have been separately classified as non-current assets and liabilities held for sale in the comparative period. The group’s controlling interest in Standard Bank Plc, which included the gro ...
... include the exposures from our global markets outside Africa operations, which for financial reporting purposes have been separately classified as non-current assets and liabilities held for sale in the comparative period. The group’s controlling interest in Standard Bank Plc, which included the gro ...
Deutsche AM Flagship Fund Reporting
... benchmark are calculated. In the event of strong market movements during this period, this may result in the over- or understatement of the Fund's performance relative to the benchmark at the end of the month (this is referred to as the "pricing effect"). The information in this document does not co ...
... benchmark are calculated. In the event of strong market movements during this period, this may result in the over- or understatement of the Fund's performance relative to the benchmark at the end of the month (this is referred to as the "pricing effect"). The information in this document does not co ...
Interbank intermediation
... Stylized fact no.1: Interbank lending accounts for a significant share of an average bank’s balance sheet. The German interbank market is the largest in the eurozone, and one of the largest worldwide. It is notable not only in terms of its absolute size, but also because interbank lending and borrow ...
... Stylized fact no.1: Interbank lending accounts for a significant share of an average bank’s balance sheet. The German interbank market is the largest in the eurozone, and one of the largest worldwide. It is notable not only in terms of its absolute size, but also because interbank lending and borrow ...
DHFL Pramerica Large Cap Fund
... higher than in May (5.76%). Most of the upward pressure came again from food inflation. Food inflation continued its upward journey printing at 7.4% as against 7.2% and 6.3% in the preceding two months, respectively. Core inflation offered some solace recording almost a 20 bps decline to 4.5% as com ...
... higher than in May (5.76%). Most of the upward pressure came again from food inflation. Food inflation continued its upward journey printing at 7.4% as against 7.2% and 6.3% in the preceding two months, respectively. Core inflation offered some solace recording almost a 20 bps decline to 4.5% as com ...
The Malta Alternative Investment Funds
... registered office in Malta where they keep the personal information of all limited partners. In addition, a limited partnership requires general partners who are fully liable and both partners can be limited liability companies formed in any jurisdiction. Limited partnerships are governed by the Comp ...
... registered office in Malta where they keep the personal information of all limited partners. In addition, a limited partnership requires general partners who are fully liable and both partners can be limited liability companies formed in any jurisdiction. Limited partnerships are governed by the Comp ...
GRUPO FINANCIERO GALICIA S.A.
... particular, statements about our plans, strategies and prospects under the captions Item 4. “Information on the Company-Capital Investments and Divestitures,” Item 5. “Operating and Financial Review and Prospects”-Item 5.A. Operating Results-Principal Trends” and Item 5.B. “Liquidity and Capital Res ...
... particular, statements about our plans, strategies and prospects under the captions Item 4. “Information on the Company-Capital Investments and Divestitures,” Item 5. “Operating and Financial Review and Prospects”-Item 5.A. Operating Results-Principal Trends” and Item 5.B. “Liquidity and Capital Res ...
Commercial Real Estate
... There is no easy way to encapsulate into one document an industry as diverse as the commercial real estate industry, and then to do so whilst a new president is rapidly shifting the regulatory and business landscape. We tried. Here is what we did. We interviewed more than 20 senior industry executiv ...
... There is no easy way to encapsulate into one document an industry as diverse as the commercial real estate industry, and then to do so whilst a new president is rapidly shifting the regulatory and business landscape. We tried. Here is what we did. We interviewed more than 20 senior industry executiv ...
CTAs: Shedding light on the black box
... capture ratio (vs CTA indices). We therefore seek maximum convexity and capital efficiency when considering single programs for an allocation to a portfolio to maximize the benefits of ‘CTA-ness’. We define in some detail what we mean by ‘CTA-ness’ and why we think it's important (and, as an aside, ...
... capture ratio (vs CTA indices). We therefore seek maximum convexity and capital efficiency when considering single programs for an allocation to a portfolio to maximize the benefits of ‘CTA-ness’. We define in some detail what we mean by ‘CTA-ness’ and why we think it's important (and, as an aside, ...
Pension Fund Asset Allocation and Liability Discount Rates
... that are more mature have stronger incentives to invest more in risky assets in order to maintain a higher liability discount rate, because reducing the discount rate creates larger immediate economic costs for more mature funds. We measure pension fund maturity as the percentage of retired pension ...
... that are more mature have stronger incentives to invest more in risky assets in order to maintain a higher liability discount rate, because reducing the discount rate creates larger immediate economic costs for more mature funds. We measure pension fund maturity as the percentage of retired pension ...
International Bank for Reconstruction and Development
... Alignment of Assets and Liabilities – IBRD borrows in multiple currency and interest rate bases on a global scale. It then lends the proceeds of these borrowings to its member countries. IBRD offers its borrowers the option of converting the currency and interest rate bases on their loans where ther ...
... Alignment of Assets and Liabilities – IBRD borrows in multiple currency and interest rate bases on a global scale. It then lends the proceeds of these borrowings to its member countries. IBRD offers its borrowers the option of converting the currency and interest rate bases on their loans where ther ...
ABN AMRO Holding N.V.
... In 2008, ABN AMRO recorded a profit after tax of EUR 3.6 billion comprising a loss after tax of EUR 12.9 billion from continuing operations offset by a gain after tax on disposals of discontinued operations of EUR 16.5 billion. The result from continuing operations was materially impacted by difficu ...
... In 2008, ABN AMRO recorded a profit after tax of EUR 3.6 billion comprising a loss after tax of EUR 12.9 billion from continuing operations offset by a gain after tax on disposals of discontinued operations of EUR 16.5 billion. The result from continuing operations was materially impacted by difficu ...
Vanguard Fixed Income Securities Funds Statement of Additional
... Restrictions on Holding or Disposing of Shares. There are no restrictions on the right of shareholders to retain or dispose of a Fund’s shares, other than those described in the Fund’s current prospectus and elsewhere in this Statement of Additional Information. Each Fund or class may be terminated ...
... Restrictions on Holding or Disposing of Shares. There are no restrictions on the right of shareholders to retain or dispose of a Fund’s shares, other than those described in the Fund’s current prospectus and elsewhere in this Statement of Additional Information. Each Fund or class may be terminated ...
Words - Nasdaq`s INTEL Solutions
... On September 28, 2010, principally to facilitate the repayment of an existing credit facility that would have prevented this offering by virtue of a change-in-control provision, we sold a substantial portion of our loan portfolio to a newly formed wholly-owned Delaware limited liability company, OFS ...
... On September 28, 2010, principally to facilitate the repayment of an existing credit facility that would have prevented this offering by virtue of a change-in-control provision, we sold a substantial portion of our loan portfolio to a newly formed wholly-owned Delaware limited liability company, OFS ...
Del Taco Restaurants, Inc. (Form: 8-K, Received: 07
... Former Del Taco who acquired shares in the Company upon consummation of the Merger, certain stockholders of LAC and certain other persons, providing for certain agreements relating to the rights and restrictions of common stock of the Company held by the parties to the Stockholders Agreement followi ...
... Former Del Taco who acquired shares in the Company upon consummation of the Merger, certain stockholders of LAC and certain other persons, providing for certain agreements relating to the rights and restrictions of common stock of the Company held by the parties to the Stockholders Agreement followi ...
THE IMPACT OF MINIMUM INVESTMENT BARRIERS ON SHORT END OF PERFORMANCE?
... known for conservative investment mandates, such as pension plans, have been investing heavily in the hedge fund industry. This has paved the way for further institutional capital flow into the industry as hedge funds are increasingly being viewed as mainstream and acceptable choices. Four, retail ...
... known for conservative investment mandates, such as pension plans, have been investing heavily in the hedge fund industry. This has paved the way for further institutional capital flow into the industry as hedge funds are increasingly being viewed as mainstream and acceptable choices. Four, retail ...
Do Retail Trades Move Markets? - Faculty Directory | Berkeley-Haas
... Lee, Shleifer, and Thaler, 1991). Since individual investors tend to place small trades, their purchases and sales must be correlated if they are to appreciably affect prices. Barber, Odean, and Zhu (forthcoming) show that the trading of individual investors at a large discount brokerage (1991–1996) ...
... Lee, Shleifer, and Thaler, 1991). Since individual investors tend to place small trades, their purchases and sales must be correlated if they are to appreciably affect prices. Barber, Odean, and Zhu (forthcoming) show that the trading of individual investors at a large discount brokerage (1991–1996) ...
Annual Report - Putnam Investments
... Investors around the world have witnessed generally positive performance from financial markets in 2016. Most stock and bond indexes have added gains, benefiting from a slowly recovering global economy and contending with only intermittent bouts of volatility. Even advancing markets, however, can po ...
... Investors around the world have witnessed generally positive performance from financial markets in 2016. Most stock and bond indexes have added gains, benefiting from a slowly recovering global economy and contending with only intermittent bouts of volatility. Even advancing markets, however, can po ...
VANDEMOORTELE NV public limited liability company (naamloze
... jurisdiction. The distribution of this Prospectus and the offer or sale of Bonds may be restricted by law in certain jurisdictions. The Issuer and the Managers do not represent that this Prospectus may be lawfully distributed, or that the Bonds may be lawfully offered, in compliance with any applic ...
... jurisdiction. The distribution of this Prospectus and the offer or sale of Bonds may be restricted by law in certain jurisdictions. The Issuer and the Managers do not represent that this Prospectus may be lawfully distributed, or that the Bonds may be lawfully offered, in compliance with any applic ...
CSA Mutual Fund Risk Classification Methodology for Use in Fund
... An earlier version of the Methodology was published on December 12, 2013 by the CSA in CSA Notice 81-324 and Request for Comment Proposed CSA Mutual Fund Risk Classification Methodology for Use in Fund Facts (the 2013 Proposal). The 2013 Proposal was developed in response to stakeholder feedback tha ...
... An earlier version of the Methodology was published on December 12, 2013 by the CSA in CSA Notice 81-324 and Request for Comment Proposed CSA Mutual Fund Risk Classification Methodology for Use in Fund Facts (the 2013 Proposal). The 2013 Proposal was developed in response to stakeholder feedback tha ...
unitary boards and mutual fund governance
... less likely to be implicated in the late trading and market timing scandals. In contrast, funds with more independent boards are associated with higher fees and lower Morningstar’s stewardship grades. We confirm the finding in previous studies that larger boards are less efficient. The results in th ...
... less likely to be implicated in the late trading and market timing scandals. In contrast, funds with more independent boards are associated with higher fees and lower Morningstar’s stewardship grades. We confirm the finding in previous studies that larger boards are less efficient. The results in th ...
Credit Where it Counts: The Community Reinvestment Act and its
... Financial markets in the United States are broad and deep.1 Our capital markets are regarded as highly efficient in spurring business growth, and for most Americans, access to credit has become readily available for consumer purchases and home ownership. Our home mortgage markets are innovative and ...
... Financial markets in the United States are broad and deep.1 Our capital markets are regarded as highly efficient in spurring business growth, and for most Americans, access to credit has become readily available for consumer purchases and home ownership. Our home mortgage markets are innovative and ...
Subnational Capital Markets in Developing Countries
... what has worked, what has not, and why. As decentralization continues and urbanization spreads, local authorities need to provide more services with fewer resources from the central government. Subnational borrowing, leveraging on reliable cash flows and prudent fiscal management, can be an alternat ...
... what has worked, what has not, and why. As decentralization continues and urbanization spreads, local authorities need to provide more services with fewer resources from the central government. Subnational borrowing, leveraging on reliable cash flows and prudent fiscal management, can be an alternat ...