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... Vishny, 1988). Also, shareholder meetings and performance pay can’t be a good mechanism either because of problems of coordination of small shareholders, and political and social constraints. The bottom line is the price in the stock market is usually determined by speculative ‘noise trade’ and so u ...
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... Prioritize personal financial goals.  Evaluate the results of a financial decision.  Set measurable short‐, medium‐, and long‐ term financial goals.  Use a financial or online calculator to  determine the cost of achieving a short‐,  medium‐, and long‐term goal.  Apply systematic decision making to  ...
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... these are categorized by type of financial intermediary and include all financial institutions as well as their managed funds. The first few months of 2008 were particularly difficult for most financial institutions, as intermediaries suffered losses on their investments as a result of market volati ...
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... An objective of financial statements is to provide users with information for predicting, comparing, and evaluating enterprise earning power. An objective of financial statements is to supply information useful in judging management’s ability to utilize enterprise resources effectively in achieving ...
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... reduction in profitability from 2001 to 2004 being basically due to the appreciation of the Brazilian currency (Real) • Remaining government institutions were restructured and significantly improved their earnings performance • Domestic private banks confirm their good phase with a leap in profits f ...
This PDF is a selection from a published volume from... of Economic Research Volume Title: NBER International Seminar on Macroeconomics 2012
This PDF is a selection from a published volume from... of Economic Research Volume Title: NBER International Seminar on Macroeconomics 2012

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Financial literacy

Financial literacy is the ability to understand how money works in the world: how someone manages to earn or make it, how that person manages it, how he/she invests it (turn it into more) and how that person donates it to help others. More specifically, it refers to the set of skills and knowledge that allows an individual to make informed and effective decisions with all of their financial resources. Raising interest in personal finance is now a focus of state-run programs in countries including Australia, Canada, Japan, the United States and the UK.The Organization for Economic Co-operation and Development (OECD) started an inter-governmental project in 2003 with the objective of providing ways to improve financial education and literacy standards through the development of common financial literacy principles. In March 2008, the OECD launched the International Gateway for Financial Education, which aims to serve as a clearinghouse for financial education programs, information and research worldwide. In the UK, the alternative term “financial capability” is used by the state and its agencies: the Financial Services Authority (FSA) in the UK started a national strategy on financial capability in 2003. The US Government also established its Financial Literacy and Education Commission in 2003.
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