US Economic Data and the Australian Dollar
... the effect of a particular data release (or group of releases) changes in an environment of high market volatility and uncertainty. The key variables in the analysis are therefore the change in the AUD/USD exchange rate, the surprise component of US economic data releases, and the measure of market ...
... the effect of a particular data release (or group of releases) changes in an environment of high market volatility and uncertainty. The key variables in the analysis are therefore the change in the AUD/USD exchange rate, the surprise component of US economic data releases, and the measure of market ...
Questions on subsections 1/2/3/5 of Chapter 41E Section 8
... Q3. Does “existing assets” mean the actual asset holding as of the valuation date? Can a holding just before the valuation date or expected to be held shortly after the valuation date be used? “Existing assets” means the actual holding at the valuation date. For example, if all assets are in cash at ...
... Q3. Does “existing assets” mean the actual asset holding as of the valuation date? Can a holding just before the valuation date or expected to be held shortly after the valuation date be used? “Existing assets” means the actual holding at the valuation date. For example, if all assets are in cash at ...
Quarterly Statement Q1 2017 - Investor Relations
... from exchange rate differences was higher than in the previous year (first quarter of 2016: €203 million). The increases were offset by the non-recurrence of gains recognized in the first quarter of 2016 (€528 million) on the disposal of the shares in PEG Infrastruktur AG (“PEGI”), including its equ ...
... from exchange rate differences was higher than in the previous year (first quarter of 2016: €203 million). The increases were offset by the non-recurrence of gains recognized in the first quarter of 2016 (€528 million) on the disposal of the shares in PEG Infrastruktur AG (“PEGI”), including its equ ...
Chapter 12: The Cost of Capital
... Marginal Cost of Capital • Gallagher’s weighted average cost will change if one component cost of capital changes. • This may occur when a firm raises a particularly large amount of capital such that investors think that the firm is riskier. • The WACC of the next dollar of capital raised in called ...
... Marginal Cost of Capital • Gallagher’s weighted average cost will change if one component cost of capital changes. • This may occur when a firm raises a particularly large amount of capital such that investors think that the firm is riskier. • The WACC of the next dollar of capital raised in called ...
Agricultural Land Prices, Supply, Demand and Current Trends
... lead to large price changes. Buyers and sellers negotiate price based upon expectations of future earning capabilities and farmland attributes. As a result, farmland sale values typically take on a large range within a small region. For example, using county courthouse transaction data between Janua ...
... lead to large price changes. Buyers and sellers negotiate price based upon expectations of future earning capabilities and farmland attributes. As a result, farmland sale values typically take on a large range within a small region. For example, using county courthouse transaction data between Janua ...
Resilience Preparing for the payback
... short-term debt that would require a bigger inflation spike.8 There’s also little room to reduce debts through currency devaluation with so many countries in similar positions. With these options limited, debtfocused governments are likely to look at less conventional measures. Outright default or r ...
... short-term debt that would require a bigger inflation spike.8 There’s also little room to reduce debts through currency devaluation with so many countries in similar positions. With these options limited, debtfocused governments are likely to look at less conventional measures. Outright default or r ...
Original sin
... situation in which the domestic currency is not used to borrow abroad or to borrow long term even domestically” Here we mostly focus on “international original sin” ...
... situation in which the domestic currency is not used to borrow abroad or to borrow long term even domestically” Here we mostly focus on “international original sin” ...
NATIONAL BEVERAGE CORP (Form: 10-K
... We employ a philosophy that emphasizes vertical integration; our production model integrates the procurement of raw materials and crafting of concentrates with the production of finished products. Our twelve strategically located production facilities are near major metropolitan markets across the c ...
... We employ a philosophy that emphasizes vertical integration; our production model integrates the procurement of raw materials and crafting of concentrates with the production of finished products. Our twelve strategically located production facilities are near major metropolitan markets across the c ...
Rating Banks in Emerging Markets: What Credit Rating Agencies
... A major motivation behind the reform proposal of the Basel Committee for a new capital adequacy framework—the most recent manifestation of international efforts to improve the incentive structure for banks’ allocation of risk—is the recognition that the present risk-weighting system used in the comp ...
... A major motivation behind the reform proposal of the Basel Committee for a new capital adequacy framework—the most recent manifestation of international efforts to improve the incentive structure for banks’ allocation of risk—is the recognition that the present risk-weighting system used in the comp ...
Corporate Catastrophes, Stock Returns, and Trading Volume
... However, after a sharp initial negative impact amounting to almost 8 per cent of stock value, there is on average an apparent full recovery in just over 50 trading days. This suggests that the net impact on stock returns is negligible. However, as will be demonstrated, the ability to recover the los ...
... However, after a sharp initial negative impact amounting to almost 8 per cent of stock value, there is on average an apparent full recovery in just over 50 trading days. This suggests that the net impact on stock returns is negligible. However, as will be demonstrated, the ability to recover the los ...
Protection against major catastrophes: an economic
... of macroeconomic indicators. Since both economic development and vulnerability towards large-scale threats are linked to geography3, heterogeneity between countries needs to be controlled for, commonly by means of a Panel Data model. In this vein, Burton et al. (1993) were the first to detect a mode ...
... of macroeconomic indicators. Since both economic development and vulnerability towards large-scale threats are linked to geography3, heterogeneity between countries needs to be controlled for, commonly by means of a Panel Data model. In this vein, Burton et al. (1993) were the first to detect a mode ...
Commercial Real Estate: New Paradigm or Old Story?
... long-term inflation tend to hover in the 2–3% range, which is far lower than historical realized or expected inflation. If we add that rate of growth to real estate’s income yield and subtract maintenance costs (to get to our “cash” yield of 5%), we have an estimate of what investors might reasonabl ...
... long-term inflation tend to hover in the 2–3% range, which is far lower than historical realized or expected inflation. If we add that rate of growth to real estate’s income yield and subtract maintenance costs (to get to our “cash” yield of 5%), we have an estimate of what investors might reasonabl ...
The Equity Risk Premium
... price (the inverse of the price/earnings ratio) is the key determinant of long-run real returns on common stock. The historical data does not contradict this, as the compounded real return from 1926 to 1997 was 7.7 percent, and the median earnings yield over the comparable period was 7.2 percent. Th ...
... price (the inverse of the price/earnings ratio) is the key determinant of long-run real returns on common stock. The historical data does not contradict this, as the compounded real return from 1926 to 1997 was 7.7 percent, and the median earnings yield over the comparable period was 7.2 percent. Th ...
General Information
... On 31 December 2003, the amount of publicly traded shares at a face value constituted 499.8 million lats, compared to 495.5 million lats on 30 September 2003. In the reporting period, pursuant to decisions of the shareholders’ meetings, 5,159,962 ordinary voting shares of the JSC Latvijas Krājbanka ...
... On 31 December 2003, the amount of publicly traded shares at a face value constituted 499.8 million lats, compared to 495.5 million lats on 30 September 2003. In the reporting period, pursuant to decisions of the shareholders’ meetings, 5,159,962 ordinary voting shares of the JSC Latvijas Krājbanka ...
2016-2020 Downstream strategy
... does not constitute an offer of purchase, sale or exchange, nor a request for an offer of purchase, sale or exchange of securities in any other jurisdiction. This document mentions resources which do not constitute proved reserves and will be recognized as such when they comply with the formal condi ...
... does not constitute an offer of purchase, sale or exchange, nor a request for an offer of purchase, sale or exchange of securities in any other jurisdiction. This document mentions resources which do not constitute proved reserves and will be recognized as such when they comply with the formal condi ...
Are Growth and Value Dead?
... to 1999, value stocks had returned 13.4% per year whereas growth stocks had returned only 10.2%. By the mid-1990’s many academic papers stated flatly that “Value outperforms Growth”, and some institutional investors responded by terminating their growth managers or at least tilting their asset alloc ...
... to 1999, value stocks had returned 13.4% per year whereas growth stocks had returned only 10.2%. By the mid-1990’s many academic papers stated flatly that “Value outperforms Growth”, and some institutional investors responded by terminating their growth managers or at least tilting their asset alloc ...
Liberalization, Growth, and Financial Crises
... N-sector at best, and at worst prevents it from growing for years. Thus FDI is not a substitute for risky bank flows. The findings of this paper do not imply that crises are a good thing. They are the price that must be paid to attain rapid growth in the presence of contract enforceability problems. ...
... N-sector at best, and at worst prevents it from growing for years. Thus FDI is not a substitute for risky bank flows. The findings of this paper do not imply that crises are a good thing. They are the price that must be paid to attain rapid growth in the presence of contract enforceability problems. ...
The Economic Benefits of Higher US Household Saving
... on average, and even those in the second-lowest quartile will need to save an additional 4%, more than doubling the current average saving rate for households. ■■ An optimal, or healthy, range of investment for the economy as a whole would equal 20%–25% of GDP. Until recently, the US had no problem ...
... on average, and even those in the second-lowest quartile will need to save an additional 4%, more than doubling the current average saving rate for households. ■■ An optimal, or healthy, range of investment for the economy as a whole would equal 20%–25% of GDP. Until recently, the US had no problem ...
1 513 +27 % 405 +42 % 20 % 18
... according to a resolution by The Annual General Meeting to split shares. 4) See Note 5 on page 18. 5) Capital base divided by total capital requirement. Refers to the financial group of companies. See Note 5 on page 18. 6) Earnings after tax in relation to average equity. Rolling, 12 months. 7) Equi ...
... according to a resolution by The Annual General Meeting to split shares. 4) See Note 5 on page 18. 5) Capital base divided by total capital requirement. Refers to the financial group of companies. See Note 5 on page 18. 6) Earnings after tax in relation to average equity. Rolling, 12 months. 7) Equi ...
The Microeconomic Perils of Monetary Policy Experiments
... dramatic change, and (5) the Fed seemed to be following an implicit rule that linked its federal funds target to current levels of inflation and unemployment. In the current environment, however, it is very hard to know how to gauge the consequences of Fed actions, many of which make use of policy i ...
... dramatic change, and (5) the Fed seemed to be following an implicit rule that linked its federal funds target to current levels of inflation and unemployment. In the current environment, however, it is very hard to know how to gauge the consequences of Fed actions, many of which make use of policy i ...
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.