Global Aging 2016: 58 Shades Of Gray
... France, Germany, Norway, Spain, Switzerland, and Sweden). Several sovereigns adopted measures that support pension adequacy, either by enhancing the coverage of pension schemes or supporting the benefits, typically of the more vulnerable groups (e.g. Australia, Canada, France, Germany, Israel, Japan ...
... France, Germany, Norway, Spain, Switzerland, and Sweden). Several sovereigns adopted measures that support pension adequacy, either by enhancing the coverage of pension schemes or supporting the benefits, typically of the more vulnerable groups (e.g. Australia, Canada, France, Germany, Israel, Japan ...
Non-GAAP Reporting following Debt Covenant Violations
... Providing a non-GAAP performance metric may help managers better explain their performance or portray a healthy financial image to investors. This view leads to predictions that are contrary to those based on the debt contracting and covenant violation literature. Therefore, how firms change their n ...
... Providing a non-GAAP performance metric may help managers better explain their performance or portray a healthy financial image to investors. This view leads to predictions that are contrary to those based on the debt contracting and covenant violation literature. Therefore, how firms change their n ...
Credit default swaps around the world: Investment and
... by creditors and risk sharing (see, e.g., Parlour and Winton (2013) and Subrahmanyam, Tang and Wang (2016)). There is little consensus in this literature regarding the net impact of CDS on the underlying firms. It is clear that CDS can provide better hedging opportunities for lenders, but these oppo ...
... by creditors and risk sharing (see, e.g., Parlour and Winton (2013) and Subrahmanyam, Tang and Wang (2016)). There is little consensus in this literature regarding the net impact of CDS on the underlying firms. It is clear that CDS can provide better hedging opportunities for lenders, but these oppo ...
ONCOR ELECTRIC DELIVERY CO LLC (Form: 424B3
... legislation also allow us to file, under certain circumstances, up to four rate adjustments between rate reviews in order to recover distribution-related investments on an interim basis. We have not filed any such distribution-related rate adjustments to date. Ownership Structure and Ring-Fencing We ...
... legislation also allow us to file, under certain circumstances, up to four rate adjustments between rate reviews in order to recover distribution-related investments on an interim basis. We have not filed any such distribution-related rate adjustments to date. Ownership Structure and Ring-Fencing We ...
Main Street Capital CORP (Form: 10-K, Received: 02
... Our principal investment objective is to maximize our portfolio's total return by generating current income from our debt investments and capital appreciation from our equity and equity related investments, including warrants, convertible securities and other rights to acquire equity securities in a ...
... Our principal investment objective is to maximize our portfolio's total return by generating current income from our debt investments and capital appreciation from our equity and equity related investments, including warrants, convertible securities and other rights to acquire equity securities in a ...
About the prospectus supplement - corporate
... , 2017 and the first interest payment date will be May 15, 2017. We may redeem all or a part of the notes on or after May 15, 2022, on any one or more occasions, at the redemption prices set forth under “Description of notes—Optional redemption,” plus accrued and unpaid interest thereon, if any, to, ...
... , 2017 and the first interest payment date will be May 15, 2017. We may redeem all or a part of the notes on or after May 15, 2022, on any one or more occasions, at the redemption prices set forth under “Description of notes—Optional redemption,” plus accrued and unpaid interest thereon, if any, to, ...
Overvalued Equity and Financing Decisions
... manager who wishes to increase long-term stock price. Thus, the inefficient markets approach suggests that net equity issuance will be more positively sensitive than net debt issuance to overvaluation. Jensen (2004, 2005) argues that the effects of misvaluation on managerial behavior are especially ...
... manager who wishes to increase long-term stock price. Thus, the inefficient markets approach suggests that net equity issuance will be more positively sensitive than net debt issuance to overvaluation. Jensen (2004, 2005) argues that the effects of misvaluation on managerial behavior are especially ...
Myths of Infrastructure Spending in Canada
... every year after accounting for inflation. From 2005 to 2015, the net stock of infrastructure grew at an average annual growth rate of 3.2 percent, compared to an average rate of 1.5 percent over the rest of the period. Although the net stock of government infrastructure has been growing, how does t ...
... every year after accounting for inflation. From 2005 to 2015, the net stock of infrastructure grew at an average annual growth rate of 3.2 percent, compared to an average rate of 1.5 percent over the rest of the period. Although the net stock of government infrastructure has been growing, how does t ...
MRK 09-10
... share.20 It remains unclear whether Merck will be able to attain its goal in light of both its failure to achieve significant cost reduction and the problems it has faced with FDA approval on its recent NDAs. Table 3 below identifies Merck's most relevant financial data. Prior to 2006, Merck was abl ...
... share.20 It remains unclear whether Merck will be able to attain its goal in light of both its failure to achieve significant cost reduction and the problems it has faced with FDA approval on its recent NDAs. Table 3 below identifies Merck's most relevant financial data. Prior to 2006, Merck was abl ...
AVVISO n. 198
... • Untendered Debt means, with respect to data included herein through 2015, defaulted debt in respect of securities that were eligible for, but not tendered in, the 2005 Debt Exchange and the 2010 Debt Exchange. References to Untendered Debt in this prospectus do not constitute, and shall not be r ...
... • Untendered Debt means, with respect to data included herein through 2015, defaulted debt in respect of securities that were eligible for, but not tendered in, the 2005 Debt Exchange and the 2010 Debt Exchange. References to Untendered Debt in this prospectus do not constitute, and shall not be r ...
Nordic High Yield Update
... Continued stable outlook for Nordic property We continue to have an overall stable outlook for the Nordic property companies in SEB’s coverage universe. The Swedish property sector is doing very well, and the slowdown in Norway and relative sluggishness of the Finnish economy have not affected the c ...
... Continued stable outlook for Nordic property We continue to have an overall stable outlook for the Nordic property companies in SEB’s coverage universe. The Swedish property sector is doing very well, and the slowdown in Norway and relative sluggishness of the Finnish economy have not affected the c ...
SIFMA Submits Comments to FINRA on FINRA`s Markup Proposal
... whether the charge is fair and reasonable. SIFMA does not believe that there is a sound policy basis for this limitation. Because disclosure is just a factor and not a requirement, the manner in which firms choose to make disclosure should not determine whether that disclosure is to be considered. R ...
... whether the charge is fair and reasonable. SIFMA does not believe that there is a sound policy basis for this limitation. Because disclosure is just a factor and not a requirement, the manner in which firms choose to make disclosure should not determine whether that disclosure is to be considered. R ...
Does The Firm Information Environment Influence Financing
... relevant to their formation of earnings expectations. In fact, the “majority of sell-side analysts say they regularly requested and received earnings guidance prior to Reg FD,” (Wang 2007, 1303). Furthermore, the earnings guidance was considered to be either similarly or more important than other so ...
... relevant to their formation of earnings expectations. In fact, the “majority of sell-side analysts say they regularly requested and received earnings guidance prior to Reg FD,” (Wang 2007, 1303). Furthermore, the earnings guidance was considered to be either similarly or more important than other so ...
CHAPTER 14 Long-Term Liabilities
... 22. In take-or-pay contracts, the outside party agrees to make specified minimum payments even if it does not take possession of the contracted goods or services. In through-put contracts, the outside party agrees to pay specified amounts in return for processing or transportation services rendered ...
... 22. In take-or-pay contracts, the outside party agrees to make specified minimum payments even if it does not take possession of the contracted goods or services. In through-put contracts, the outside party agrees to pay specified amounts in return for processing or transportation services rendered ...
Liquidity Crises, Liquidity Lines and Sovereign Risk December 2015
... liquidity lines during a liquidity crisis. A defaulting government faces a default cost, is temporarily excluded from the financial markets and cannot issue new debt. Furthermore, a defaulting government cannot rollover its debt accrued from liquidity lines and has to honor these obligations but do ...
... liquidity lines during a liquidity crisis. A defaulting government faces a default cost, is temporarily excluded from the financial markets and cannot issue new debt. Furthermore, a defaulting government cannot rollover its debt accrued from liquidity lines and has to honor these obligations but do ...
STEP - Merrill Lynch
... The STEP Income Securities ® Linked to the Common Stock of Delta Air Lines, Inc., due May , 2017 (the “notes”) are our senior unsecured debt securities. The notes are not guaranteed or insured by the Canada Deposit Insurance Corporation or the FDIC, and are not, either directly or indirectly, an obl ...
... The STEP Income Securities ® Linked to the Common Stock of Delta Air Lines, Inc., due May , 2017 (the “notes”) are our senior unsecured debt securities. The notes are not guaranteed or insured by the Canada Deposit Insurance Corporation or the FDIC, and are not, either directly or indirectly, an obl ...
Accounting Comparability and Loan Contracting - CEAR
... (FASB 1980) states that “investing and lending decisions essentially involve evaluations of alternative opportunities, and they cannot be made rationally if comparative information is not available.” Recently, the Statement of Financial Accounting Concepts (SFAC) No. 8 (2010) further states that com ...
... (FASB 1980) states that “investing and lending decisions essentially involve evaluations of alternative opportunities, and they cannot be made rationally if comparative information is not available.” Recently, the Statement of Financial Accounting Concepts (SFAC) No. 8 (2010) further states that com ...
Government Guarantees and Fiscal Risk, April 1, 2005
... documents, fiscal reports and financial statements. In this connection, the paper proposes a set of comprehensive disclosure requirements for guarantees. The potential fiscal costs associated with guarantees argue in favor of carefully controlling them with a view to managing fiscal risk. Centralize ...
... documents, fiscal reports and financial statements. In this connection, the paper proposes a set of comprehensive disclosure requirements for guarantees. The potential fiscal costs associated with guarantees argue in favor of carefully controlling them with a view to managing fiscal risk. Centralize ...
the guide to understanding deflation
... with that buyer’s, then the value of the asset falls, and it falls for everyone who owns it. If a million other people own it, then their net worth goes down even though they did nothing. Two investors made it happen by transacting, and the rest of the investors made it happen by choosing not to dis ...
... with that buyer’s, then the value of the asset falls, and it falls for everyone who owns it. If a million other people own it, then their net worth goes down even though they did nothing. Two investors made it happen by transacting, and the rest of the investors made it happen by choosing not to dis ...
The Interplay Between Student Loans and Credit Cards: Implications for Default ∗
... U.S. and their impact on default incentives of young U.S. households. As we argue in this paper, the interaction between different bankruptcy arrangements induces significant trade-offs in default incentives in the two markets. Understanding these trade-offs is particularly important in the light o ...
... U.S. and their impact on default incentives of young U.S. households. As we argue in this paper, the interaction between different bankruptcy arrangements induces significant trade-offs in default incentives in the two markets. Understanding these trade-offs is particularly important in the light o ...
optimal capital structure
... analyzed in all kinds of ways, where most studies have explained observed patterns. Our research will also deal with leverage ratios but in an entirely new way. Our problem concerns the practical matter of deciding an appropriate capital structure and the possibility of improvements, which are formu ...
... analyzed in all kinds of ways, where most studies have explained observed patterns. Our research will also deal with leverage ratios but in an entirely new way. Our problem concerns the practical matter of deciding an appropriate capital structure and the possibility of improvements, which are formu ...
Small Firm Use of Debt: An Examination of the Smallest Small Firms
... small businesses, with "small" being defined as fewer than 500 employees. It includes balance sheet and income statement data on the included firms as well as information on their use of financial services and financial service providers. Tables 1 and 2 provide summary statistics for variables of in ...
... small businesses, with "small" being defined as fewer than 500 employees. It includes balance sheet and income statement data on the included firms as well as information on their use of financial services and financial service providers. Tables 1 and 2 provide summary statistics for variables of in ...