The Usefulness of Derivative Disclosures by Chinese Listed
... expansion of derivatives markets over the past two decades, the extensive use of derivatives in developed markets, particularly of mortgage-related derivative products has been blamed for the recent global financial crisis. The supervisory bodies across the world have increasingly paid attention to ...
... expansion of derivatives markets over the past two decades, the extensive use of derivatives in developed markets, particularly of mortgage-related derivative products has been blamed for the recent global financial crisis. The supervisory bodies across the world have increasingly paid attention to ...
Payment, clearing and settlement systems in Brazil
... out by the Central Bank of Brazil (BCB) in 2001 and 2002, the focus shifted to risk management. In the scope of this reform, the BCB implemented an RTGS system, known as the Reserves Transfer System (STR), and also advised the National Congress in its introduction of important legal changes relating ...
... out by the Central Bank of Brazil (BCB) in 2001 and 2002, the focus shifted to risk management. In the scope of this reform, the BCB implemented an RTGS system, known as the Reserves Transfer System (STR), and also advised the National Congress in its introduction of important legal changes relating ...
Public Debt sustainability
... imagining that at a given point in time, the government will decide or need to produce primary deficit, i.e., will choose to use more resources than what the money from taxes allows it to purchase. The question is: how will the government be able to finance the difference between the value collected ...
... imagining that at a given point in time, the government will decide or need to produce primary deficit, i.e., will choose to use more resources than what the money from taxes allows it to purchase. The question is: how will the government be able to finance the difference between the value collected ...
The Determinants of Bank Capital Structure
... Banks are among the most regulated financial institutions, and the financial sector is among the most regulated sectors in the economy. That is motivated by the need to protect all consumers and government safety net. Post-crisis the focus of international regulation has been on banks’ leverage rati ...
... Banks are among the most regulated financial institutions, and the financial sector is among the most regulated sectors in the economy. That is motivated by the need to protect all consumers and government safety net. Post-crisis the focus of international regulation has been on banks’ leverage rati ...
DOC - Investor Relations
... merchandised. However retailers, in an effort to improve their margins, decreased their own store personnel and increased their reliance on manufacturers to perform such services. Initially, manufacturers attempted to satisfy the need for merchandising and marketing services in retail stores by util ...
... merchandised. However retailers, in an effort to improve their margins, decreased their own store personnel and increased their reliance on manufacturers to perform such services. Initially, manufacturers attempted to satisfy the need for merchandising and marketing services in retail stores by util ...
US Trust Collateral L4 Template
... and even obtain repayment directly from the hedge fund itself through a forced redemption upon default. ...
... and even obtain repayment directly from the hedge fund itself through a forced redemption upon default. ...
The Determinants of Chinese Local Government Bond Yields
... the liquidity of the credit market, especially for urban construction investment bonds, was severely impaired afterwards. Naturally, one would like to ask the following questions: How do Chinese bond investors evaluate the risk of local government bonds? What factors affect their perception of the ...
... the liquidity of the credit market, especially for urban construction investment bonds, was severely impaired afterwards. Naturally, one would like to ask the following questions: How do Chinese bond investors evaluate the risk of local government bonds? What factors affect their perception of the ...
Measuring Investment Distortions When Risk-Averse
... in-the-money make managers more risk averse than do options issued with exercise prices equal to or greater than the current market price of the firm’s stock. In addition to estimating the magnitudes of investment distortions for a hypothetical firm, we use our model to estimate these distortions at ...
... in-the-money make managers more risk averse than do options issued with exercise prices equal to or greater than the current market price of the firm’s stock. In addition to estimating the magnitudes of investment distortions for a hypothetical firm, we use our model to estimate these distortions at ...
Macro-prudential Financial Regulation in presence of Regulatory
... expected bailout guarantees increases incentives for risk taking, but also lowers the cost of capital which stimulates investment. Capital rules should be tightened in presence of bailout guarantees only if the guarantees are large enough so that the …rst e¤ect dominates the second e¤ect.9 In the s ...
... expected bailout guarantees increases incentives for risk taking, but also lowers the cost of capital which stimulates investment. Capital rules should be tightened in presence of bailout guarantees only if the guarantees are large enough so that the …rst e¤ect dominates the second e¤ect.9 In the s ...
Credit Card Debt and Consumption
... Since credit cards have become a major vehicle for carrying out and financing consumption, it is important to specifically gauge the impact of this financial instrument. To the best of our knowledge no single data set has the monthly information on both household consumption and credit card debt nec ...
... Since credit cards have become a major vehicle for carrying out and financing consumption, it is important to specifically gauge the impact of this financial instrument. To the best of our knowledge no single data set has the monthly information on both household consumption and credit card debt nec ...
FOREIGN DIRECT INVESTMENT IN A SMALL OPEN ECONOMY
... Until now, only a few attempts were made in the ...
... Until now, only a few attempts were made in the ...
SAST - SA Legg Mason BW Large Cap Value
... which the Portfolio invests may have markets that are less liquid, less regulated and more volatile than U.S. markets. The value of the Portfolio’s investments may decline because of factors affecting the particular issuer as well as foreign markets and issuers generally, such as unfavorable governm ...
... which the Portfolio invests may have markets that are less liquid, less regulated and more volatile than U.S. markets. The value of the Portfolio’s investments may decline because of factors affecting the particular issuer as well as foreign markets and issuers generally, such as unfavorable governm ...
Volume 68 No. 1, March 2005 Contents
... the management of the Bank’s foreign exchange reserves. While intervention to influence the level of the exchange rate may affect the level of foreign reserves held by the Bank, it should be pointed out that the Bank did not seek any additional foreign exchange reserves for the purposes of carrying o ...
... the management of the Bank’s foreign exchange reserves. While intervention to influence the level of the exchange rate may affect the level of foreign reserves held by the Bank, it should be pointed out that the Bank did not seek any additional foreign exchange reserves for the purposes of carrying o ...
Do Tests of Capital Structure Theory Mean What They Say? ∗
... behavior. Among many existing interesting explanations of capital structure only the tradeoff argument has a fully-worked out dynamic theory that leads to quantitative predictions of leverage ratios in dynamics. In the trade-off theory firms arrive at their optimal capital structure by balancing the ...
... behavior. Among many existing interesting explanations of capital structure only the tradeoff argument has a fully-worked out dynamic theory that leads to quantitative predictions of leverage ratios in dynamics. In the trade-off theory firms arrive at their optimal capital structure by balancing the ...
SWP4: Corporate Bond Markets (Vol 1) - A global perspective
... Developments in corporate bond markets have been flagged a number of times during these exercises. In particular, the lack of data on secondary market trading and, in general, issues in emerging market corporate bond markets, have been highlighted as an obstacle in understanding how securities marke ...
... Developments in corporate bond markets have been flagged a number of times during these exercises. In particular, the lack of data on secondary market trading and, in general, issues in emerging market corporate bond markets, have been highlighted as an obstacle in understanding how securities marke ...
edited transcript - corporate
... Several unique items in Q3 were as follows. Inventory holding losses were $3 million or $0.03 per share as compared to a loss of $9.4 million or $0.09 per share in the prior year quarter. Restructuring charges of $1.4 million were primarily related to plant moves in Pressure Cylinders. Our current a ...
... Several unique items in Q3 were as follows. Inventory holding losses were $3 million or $0.03 per share as compared to a loss of $9.4 million or $0.09 per share in the prior year quarter. Restructuring charges of $1.4 million were primarily related to plant moves in Pressure Cylinders. Our current a ...
GFI Group Inc. (Form: 10-K, Received: 03/13/2015
... Consolidated Financial Statements in Part II—Item 8 for further information on our revenues by segment and geographic region. Acquisition by BGC Partners, Inc. and Termination of the CME Merger On February 26, 2015, BGC Partners Inc. ("BGC") successfully completed its tender offer to acquire shares ...
... Consolidated Financial Statements in Part II—Item 8 for further information on our revenues by segment and geographic region. Acquisition by BGC Partners, Inc. and Termination of the CME Merger On February 26, 2015, BGC Partners Inc. ("BGC") successfully completed its tender offer to acquire shares ...
An Empirical Assessment of Models of the Value Premium*
... Cooper (2006) makes the same link between profitability and B/M. If a firm has been hit by adverse profitability shocks, this firm’s B/M ratio is high because its market value falls while its book value remains fairly constant due to irreversibility. Such a firm is sensitive to aggregate shocks, an ...
... Cooper (2006) makes the same link between profitability and B/M. If a firm has been hit by adverse profitability shocks, this firm’s B/M ratio is high because its market value falls while its book value remains fairly constant due to irreversibility. Such a firm is sensitive to aggregate shocks, an ...
investment banking and securities issuance
... is no role for marketing. An important tool in the marketing of financial securities, especially equities, is research coverage (forecasts and recommendations) by security analysts. Since the investment banking firm providing research reports also underwrites offerings, this is referred to as “sell-si ...
... is no role for marketing. An important tool in the marketing of financial securities, especially equities, is research coverage (forecasts and recommendations) by security analysts. Since the investment banking firm providing research reports also underwrites offerings, this is referred to as “sell-si ...
Papers - ICIBE - Gümüşhane Üniversitesi
... to establish an academic forum for substantive dialogue among researchers to exchange their ideas and researches about critical aspects of business and economics. 2009’s theme was “What Others Manifest?” and was focused on the issues that the world economy has been facing by Global Financial Crisis ...
... to establish an academic forum for substantive dialogue among researchers to exchange their ideas and researches about critical aspects of business and economics. 2009’s theme was “What Others Manifest?” and was focused on the issues that the world economy has been facing by Global Financial Crisis ...
Corporate Bond Markets: A Global Perspective
... Developments in corporate bond markets have been flagged a number of times during these exercises. In particular, the lack of data on secondary market trading and, in general, issues in emerging market corporate bond markets, have been highlighted as an obstacle in understanding how securities marke ...
... Developments in corporate bond markets have been flagged a number of times during these exercises. In particular, the lack of data on secondary market trading and, in general, issues in emerging market corporate bond markets, have been highlighted as an obstacle in understanding how securities marke ...
Financialization
Financialization is a term sometimes used in discussions of the financial capitalism that has developed over the decades between 1980 and 2010, in which financial leverage tended to override capital (equity), and financial markets tended to dominate over the traditional industrial economy and agricultural economics.Financialization describes an economic system or process that attempts to reduce all value that is exchanged (whether tangible or intangible, future or present promises, etc.) into a financial instrument. The intent of financialization is to be able to reduce any work product or service to an exchangeable financial instrument, like currency, and thus make it easier for people to trade these financial instruments.Workers, through a financial instrument such as a mortgage, may trade their promise of future work or wages for a home. The financialization of risk sharing is what makes possible all insurance. The financialization of a government's promises (e.g., US government bonds) is what makes possible all government deficit spending. Financialization also makes economic rents possible.