Financial Institutions Instruments and Markets, 5th Edition
... A. that holders of shares generally want to exchange them for bonds and other financial instruments. B. the high expenditure for many individuals and businesses. C. that the lack of money in an economy makes trade in financial assets necessary. D. the refusal of most modern governments to print mone ...
... A. that holders of shares generally want to exchange them for bonds and other financial instruments. B. the high expenditure for many individuals and businesses. C. that the lack of money in an economy makes trade in financial assets necessary. D. the refusal of most modern governments to print mone ...
McGraw-Hill Global Education Intermediate Holdings
... On March 22, 2013, MHE Acquisition, LLC, a wholly-owned subsidiary of Georgia Holdings, Inc., acquired all of the outstanding equity interests of certain subsidiaries of The McGraw-Hill Companies, Inc. (“MHC”) for $2,184,071 in cash (the “Founding Acquisition”). The acquired subsidiaries included al ...
... On March 22, 2013, MHE Acquisition, LLC, a wholly-owned subsidiary of Georgia Holdings, Inc., acquired all of the outstanding equity interests of certain subsidiaries of The McGraw-Hill Companies, Inc. (“MHC”) for $2,184,071 in cash (the “Founding Acquisition”). The acquired subsidiaries included al ...
Herding Behavior and Trading Volume: Evidence from the
... provided evidence that herding tendency is greater when market is declining rather when it‟s advancing, and Henker, Henker, & Mitsios (2006) partially supported this result. Our objective is to provide a robust survey of herding in the U.S. market by adding trading volume as an explanatory variable ...
... provided evidence that herding tendency is greater when market is declining rather when it‟s advancing, and Henker, Henker, & Mitsios (2006) partially supported this result. Our objective is to provide a robust survey of herding in the U.S. market by adding trading volume as an explanatory variable ...
NBER WORKING PAPER SERIES AGGREGATE IMPLICATIONS OF CREDIT MARKET IMPERFECTIONS Kiminori Matsuyama
... amplification and propagation mechanisms in these models. It will be shown how a wide range of aggregate phenomena may be attributed to the common cause. They include, among other things, endogenous investment-specific technical changes3, development traps, leapfrogging, persistence of inefficient r ...
... amplification and propagation mechanisms in these models. It will be shown how a wide range of aggregate phenomena may be attributed to the common cause. They include, among other things, endogenous investment-specific technical changes3, development traps, leapfrogging, persistence of inefficient r ...
International Economics
... economy other than that of the investor (‘‘direct investment enterprise’’). The lasting interest implies the existence of a long-term relationship between the direct investor and the enterprise and a significant degree of influence on the management of the enterprise. Direct investment involves both ...
... economy other than that of the investor (‘‘direct investment enterprise’’). The lasting interest implies the existence of a long-term relationship between the direct investor and the enterprise and a significant degree of influence on the management of the enterprise. Direct investment involves both ...
Financial Statements Mott Community College Flint, Michigan
... Management’s Discussion and Analysis - Unaudited This discussion and analysis section of Mott Community College’s (“the College’s”) annual financial report provides an overview of the College’s financial position at June 30, 2011, 2010 and 2009 and its financial activities for the three years ended ...
... Management’s Discussion and Analysis - Unaudited This discussion and analysis section of Mott Community College’s (“the College’s”) annual financial report provides an overview of the College’s financial position at June 30, 2011, 2010 and 2009 and its financial activities for the three years ended ...
Pulling the Trigger: Default Option Exercise over the Business Cycle*
... foreclosure. By the end of 2013, almost half of all securitized Alt-‐A and subprime mortgage loans had entered into 60-‐day delinquency1 As is well established in the mortgage pricing litera ...
... foreclosure. By the end of 2013, almost half of all securitized Alt-‐A and subprime mortgage loans had entered into 60-‐day delinquency1 As is well established in the mortgage pricing litera ...
Implied Volatility Sentiment: A Tale of Two Tails
... probabilities to be strongly linked to IV skews, we hypothesize that reversals may follow not only periods of excessive overweight of tails but also periods of extreme IV skews3 . ...
... probabilities to be strongly linked to IV skews, we hypothesize that reversals may follow not only periods of excessive overweight of tails but also periods of extreme IV skews3 . ...
Information Asymmetry and Discretionary Accounting in
... other industries (Morgan, 2002; Iannotta, 2006). From a market perspective, this means that an increase in information asymmetry would generate a higher uncertainty for banks than in other industries. Consequently, banks and regulators have greater incentive to increase the quality of information to ...
... other industries (Morgan, 2002; Iannotta, 2006). From a market perspective, this means that an increase in information asymmetry would generate a higher uncertainty for banks than in other industries. Consequently, banks and regulators have greater incentive to increase the quality of information to ...
prospectus
... attempt to minimize this credit risk by investing only in securities that present minimal credit risk. There also is a risk that rising interest rates will cause the value of the Fund’s securities to decline. Certain of the securities in which the Fund may invest pay interest at a rate that is perio ...
... attempt to minimize this credit risk by investing only in securities that present minimal credit risk. There also is a risk that rising interest rates will cause the value of the Fund’s securities to decline. Certain of the securities in which the Fund may invest pay interest at a rate that is perio ...
Swedish Capital Allocated to Global Energy Investments
... Note: Estimated investments refers to both equity and bond investments. Carbon reserves are estimated by Carbon Tracker. It is common for large companies to be listed at multiple stock exchanges. Mining companies are included due to coal mining operations, as coal being one of the main fossil fuels. ...
... Note: Estimated investments refers to both equity and bond investments. Carbon reserves are estimated by Carbon Tracker. It is common for large companies to be listed at multiple stock exchanges. Mining companies are included due to coal mining operations, as coal being one of the main fossil fuels. ...
The Risk-Free Rate`s Impact on Stock Returns with Representative
... Appendix 1 ........................................................................................................................................ 53 Appendix 2 ........................................................................................................................................ 5 ...
... Appendix 1 ........................................................................................................................................ 53 Appendix 2 ........................................................................................................................................ 5 ...
On Constructing a Market Consistent Economic Scenario
... liability being valued. The liabilities stemming from insurance contracts with embedded options and guarantees have option-like features, which means that the ESG should be able to reproduce option prices on the market. ...
... liability being valued. The liabilities stemming from insurance contracts with embedded options and guarantees have option-like features, which means that the ESG should be able to reproduce option prices on the market. ...
growth and development - Ekonomski institut, Zagreb
... steps were conducted in parallel only partially, at varying speeds and intensities. In the initial stages, the inflow of foreign capital into transition economies has strictly been related to the initiated processes of privatization and liberalization of the balance of payments capital and financial ...
... steps were conducted in parallel only partially, at varying speeds and intensities. In the initial stages, the inflow of foreign capital into transition economies has strictly been related to the initiated processes of privatization and liberalization of the balance of payments capital and financial ...
best execution policy
... admitted to quotation on the Listing Market. Order means an instruction to buy or sell a financial an equity market product which is accepted by VTL for execution and which gives rise to contractual or agency obligations to you. Implicit in the instruction received will be the understanding that you ...
... admitted to quotation on the Listing Market. Order means an instruction to buy or sell a financial an equity market product which is accepted by VTL for execution and which gives rise to contractual or agency obligations to you. Implicit in the instruction received will be the understanding that you ...
Inequality, stock market participation, and the equity premium
... At the other extreme, when only participation costs decrease, with no change to wage inequality, stock market participation increases and the equity premium falls. This is because more households demand stocks causing their price to rise and expected return to fall. However inequality decreases. The ...
... At the other extreme, when only participation costs decrease, with no change to wage inequality, stock market participation increases and the equity premium falls. This is because more households demand stocks causing their price to rise and expected return to fall. However inequality decreases. The ...
Market vs. Residence Principle
... transactions and 0.01% on derivatives transactions. The EU commission, expecting that stock transactions will fall by 15% and derivative transactions by 75%, still forecasts to raise 30 to 35 bn. euros in tax income per year. ...
... transactions and 0.01% on derivatives transactions. The EU commission, expecting that stock transactions will fall by 15% and derivative transactions by 75%, still forecasts to raise 30 to 35 bn. euros in tax income per year. ...
A Cross-sectional Analysis Of Malaysian Unit Trust Fund Expense
... funds with higher portfolio turnover are associated with higher expense ratios. The authors find no evidence that a fund’s expense ratio is related to the fund’s risk level and investment objective. In a related study, Berkowitz and Kotowitz (2004) examine the relation between fees charged by mutual ...
... funds with higher portfolio turnover are associated with higher expense ratios. The authors find no evidence that a fund’s expense ratio is related to the fund’s risk level and investment objective. In a related study, Berkowitz and Kotowitz (2004) examine the relation between fees charged by mutual ...
The Development of Collective Investment
... The Collective Investment Schemes (CIS) industry has been in existence in Uganda for six (6) years, the first and only Unit Trust Manager having started CIS operations in August 2004. In the last five (5) years the industry has grown from a Net Asset base of US$ 523,779 at the end of 2005 to US$ 1.9 ...
... The Collective Investment Schemes (CIS) industry has been in existence in Uganda for six (6) years, the first and only Unit Trust Manager having started CIS operations in August 2004. In the last five (5) years the industry has grown from a Net Asset base of US$ 523,779 at the end of 2005 to US$ 1.9 ...
Innovation matters Reviving the growth engine
... For most of the post-war period, productivity in European economies caught up with the US. In 1995 that all changed. As the internet became widespread, US productivity surged even as EU productivity slowed. Hitherto fledgling companies like Facebook, Google and Apple became household names. New star ...
... For most of the post-war period, productivity in European economies caught up with the US. In 1995 that all changed. As the internet became widespread, US productivity surged even as EU productivity slowed. Hitherto fledgling companies like Facebook, Google and Apple became household names. New star ...
NBER WORKING PAPER SERIES DOMESTIC SAVINGS AND INTERNATIONAL CAPITAL FLOWS
... housing capital stock which is largely imputation rather than market evidence; since housing accounts for roughly half of fixed capital, the overall return will be quite sensitive to the return that local national income accountants (impute on housing. Harberger provides no evidence on the relative ...
... housing capital stock which is largely imputation rather than market evidence; since housing accounts for roughly half of fixed capital, the overall return will be quite sensitive to the return that local national income accountants (impute on housing. Harberger provides no evidence on the relative ...
Point of paper: - Society for the Advancement of Economic Theory
... competitive. In this equilibrium all firms produce the same amount since they all have full information on costs, which are symmetric. With private information there is both aggregate and productive inefficiency. Aggregate inefficiency refers to a distorted total output and productive inefficiency r ...
... competitive. In this equilibrium all firms produce the same amount since they all have full information on costs, which are symmetric. With private information there is both aggregate and productive inefficiency. Aggregate inefficiency refers to a distorted total output and productive inefficiency r ...
HNWI Asset Allocation in Argentina 2016 Brochure
... over 60,000 HNWIs from around the world. - With the wealth report as the foundation for our research and analysis, we are able obtain an unsurpassed level ofgranularity, insight and authority on the HNWI and wealth management universe in each of the countries and regions we cover. - Report includes ...
... over 60,000 HNWIs from around the world. - With the wealth report as the foundation for our research and analysis, we are able obtain an unsurpassed level ofgranularity, insight and authority on the HNWI and wealth management universe in each of the countries and regions we cover. - Report includes ...
Private equity secondary market
In finance, the private equity secondary market (also often called private equity secondaries or secondaries) refers to the buying and selling of pre-existing investor commitments to private equity and other alternative investment funds. Given the absence of established trading markets for these interests, the transfer of interests in private equity funds as well as hedge funds can be more complex and labor-intensive.Sellers of private equity investments sell not only the investments in the fund but also their remaining unfunded commitments to the funds. By its nature, the private equity asset class is illiquid, intended to be a long-term investment for buy-and-hold investors, including ""pension funds, endowments and wealthy families selling off their private equity funds before the pools have sold off all their assets."" For the vast majority of private equity investments, there is no listed public market; however, there is a robust and maturing secondary market available for sellers of private equity assets.Buyers seek to acquire private equity interests in the secondary market for multiple reasons. For example, the duration of the investment may be much shorter than an investment in the private equity fund initially. Likewise, the buyer may be able to acquire these interests at an attractive price. Finally, the buyer can evaluate the fund's holdings before deciding to purchase an interest in the fund. Conversely, sellers may seek to sell interest for various reasons, including the need to raise capital, the desire to avoid future capital calls, the need to reduce an over-allocation to the asset class or for regulatory reasons.Driven by strong demand for private equity exposure over the past decade, a significant amount of capital has been committed to secondary market funds from investors looking to increase and diversify their private equity exposure.