Theme 3
... overall simpler than in the US: contracts rarely use contingent allocation of decision and cash-flow rights and contracts do not make much use of securities such as preferred convertible shares, featuring characteristics of both debt and equity, which the theoretical literature found as important in ...
... overall simpler than in the US: contracts rarely use contingent allocation of decision and cash-flow rights and contracts do not make much use of securities such as preferred convertible shares, featuring characteristics of both debt and equity, which the theoretical literature found as important in ...
Capital Budgeting for Small Businesses
... be sufficient to repay the debt, but also occur when repayments are due. A debt-financed project that has a positive NPV but whose cash flows do not coincide with the debt payment schedule should be rejected by the rational entrepreneur because a project that results in a firm defaulting on its obli ...
... be sufficient to repay the debt, but also occur when repayments are due. A debt-financed project that has a positive NPV but whose cash flows do not coincide with the debt payment schedule should be rejected by the rational entrepreneur because a project that results in a firm defaulting on its obli ...
Stock Market Liquidity, Financial Crisis and Quantitative Easing
... impacts on equity market liquidity across different QE stages. Second, we find evidence that stock market liquidity increases only when the FED’s expansionary monetary policy sequentially, significantly augments bank lending. Third, during periods of elevated bank liquidity (funding liquidity) and l ...
... impacts on equity market liquidity across different QE stages. Second, we find evidence that stock market liquidity increases only when the FED’s expansionary monetary policy sequentially, significantly augments bank lending. Third, during periods of elevated bank liquidity (funding liquidity) and l ...
Why does Brazil’s banking sector need public banks?
... is healthy and it is being delivered by the market on its own […]. As an investor, I have a pretty easy time looking at funds and figuring out what they are doing. It is nearly impossible to know what the large financial institutions we have in this planet are doing these days […]. That is, in my vi ...
... is healthy and it is being delivered by the market on its own […]. As an investor, I have a pretty easy time looking at funds and figuring out what they are doing. It is nearly impossible to know what the large financial institutions we have in this planet are doing these days […]. That is, in my vi ...
3 – The East Asian Crisis - Utrecht University Repository
... Monetary Fund (IMF). Numerous highly acclaimed academics such as Jeffrey Sachs and Joseph Stiglitz have accused the IMF of being incompetent, secretive and a pawn of the United States Government.1 People in poor countries have been said to see the IMF as a Western imperialistic organization that tak ...
... Monetary Fund (IMF). Numerous highly acclaimed academics such as Jeffrey Sachs and Joseph Stiglitz have accused the IMF of being incompetent, secretive and a pawn of the United States Government.1 People in poor countries have been said to see the IMF as a Western imperialistic organization that tak ...
South Eastern Europe After the Crisis
... from unilateral euro adoption (Kosovo, Montenegro), currency boards (Bulgaria, Bosnia), managed floats (Croatia and Serbia), hard pegs (Macedonia), and floating exchange rates (Albania). Countries which were able to allow their currencies to depreciate, such as Albania and Serbia, seem to have weath ...
... from unilateral euro adoption (Kosovo, Montenegro), currency boards (Bulgaria, Bosnia), managed floats (Croatia and Serbia), hard pegs (Macedonia), and floating exchange rates (Albania). Countries which were able to allow their currencies to depreciate, such as Albania and Serbia, seem to have weath ...
Small and Medium Enterprises Policy Research Working Paper 5538
... In a number of countries where data are not collected through regular reporting, they are collected through surveys of financial institutions or by estimating lending volume in credit registries. Credit registries contain loan level data and allow estimation of a variety of SME statistics using loan ...
... In a number of countries where data are not collected through regular reporting, they are collected through surveys of financial institutions or by estimating lending volume in credit registries. Credit registries contain loan level data and allow estimation of a variety of SME statistics using loan ...
Document
... The official objectives of US monetary policy are, “economic growth in line with the economy's potential to expand, a high level of employment, stable prices (that is, stability in the purchasing power of the dollar), and moderate long-term interest rates.” ...
... The official objectives of US monetary policy are, “economic growth in line with the economy's potential to expand, a high level of employment, stable prices (that is, stability in the purchasing power of the dollar), and moderate long-term interest rates.” ...
Costing A series full syllabus test paper
... To allocate joint cost using market-based data, the method that estimates the value of the joint products using the selling price less costs to complete the main products is called the _____ a) Constant gross-margin method b) Sales value at split-off point method c) Net realizable value method d) Ph ...
... To allocate joint cost using market-based data, the method that estimates the value of the joint products using the selling price less costs to complete the main products is called the _____ a) Constant gross-margin method b) Sales value at split-off point method c) Net realizable value method d) Ph ...
Answers to End-of-Chapter Problems
... banana grower will not want apples in exchange for his bananas, and they will not trade. Similarly, the chocolatier will not be willing to trade with the banana grower because she does not like bananas. The orchard owner will not trade with the chocolatier because he doesn’t like chocolate. Hence, i ...
... banana grower will not want apples in exchange for his bananas, and they will not trade. Similarly, the chocolatier will not be willing to trade with the banana grower because she does not like bananas. The orchard owner will not trade with the chocolatier because he doesn’t like chocolate. Hence, i ...
Should `Minority Discounts` Diminish Share Value Under Judicial
... (1) the discounted income approach, by which average corporate earnings measured over a number of years are capitalized and a multiplier is developed using the capitalization rate which is then applied to earnings; (2) capitalization of dividends, if the corporation has an appropriate dividend histo ...
... (1) the discounted income approach, by which average corporate earnings measured over a number of years are capitalized and a multiplier is developed using the capitalization rate which is then applied to earnings; (2) capitalization of dividends, if the corporation has an appropriate dividend histo ...
Stocks: An Introduction
... risk, your desired return, and your financial and personal circumstances. Other factors may come into play as well, but these are the most common ones. Based on these very important considerations, you and your financial professional will be able to choose investments that match your situation. Diff ...
... risk, your desired return, and your financial and personal circumstances. Other factors may come into play as well, but these are the most common ones. Based on these very important considerations, you and your financial professional will be able to choose investments that match your situation. Diff ...
FMA Minimum Standards for the Risk Management
... a. Already when granting foreign currency loans, the credit institution makes sure that the customer’s credit rating is sufficient for the borrower - taking into account the loan’s repayment structure – to be able to service and repay an increased loan repayment amount and/or instalments as a conseq ...
... a. Already when granting foreign currency loans, the credit institution makes sure that the customer’s credit rating is sufficient for the borrower - taking into account the loan’s repayment structure – to be able to service and repay an increased loan repayment amount and/or instalments as a conseq ...
Financial Frictions, Asset Prices, and the Great Recession
... households’ ability to borrow to generate a large recession: that total wealth is plentiful and that investment and net exports are mechanisms for society to save into the future. Consequently, our model economy requires the explicit inclusion of certain ingredients to generate a large recession as ...
... households’ ability to borrow to generate a large recession: that total wealth is plentiful and that investment and net exports are mechanisms for society to save into the future. Consequently, our model economy requires the explicit inclusion of certain ingredients to generate a large recession as ...
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... 1980-1989 as our main sample period, and for robustness tests we use data from 1970- 1998. In examining the growth of the number of firms in each industry, we also provide results based on measures of trade credit and financial dependence calculated from firms in the smallest quartile in each indust ...
... 1980-1989 as our main sample period, and for robustness tests we use data from 1970- 1998. In examining the growth of the number of firms in each industry, we also provide results based on measures of trade credit and financial dependence calculated from firms in the smallest quartile in each indust ...
A Framework for the use of Discount Rates in Actuarial Work
... future cash flows. For example, will a series of future cash inflows (an asset) be adequate to meet a separate series of future cash outflows (a liability)? The technique of “present values” or “discounted cash flows” is an approach to summarising a series of future cash flows in a more manageable w ...
... future cash flows. For example, will a series of future cash inflows (an asset) be adequate to meet a separate series of future cash outflows (a liability)? The technique of “present values” or “discounted cash flows” is an approach to summarising a series of future cash flows in a more manageable w ...
report on the macro-prudential research network (mars)
... macro-prudential regulatory policy instruments). Its main objectives were: to develop theoretical and empirical frameworks that integrate realistic characterisations of widespread financial instability into models of the aggregate economy; to allow analysis of transmission channels between financial i ...
... macro-prudential regulatory policy instruments). Its main objectives were: to develop theoretical and empirical frameworks that integrate realistic characterisations of widespread financial instability into models of the aggregate economy; to allow analysis of transmission channels between financial i ...
Austrian Business Cycle Theory: An Application to New Zealand`s
... After a significant increase in the rate of bankruptcies, a large drop in the price of housing and stocks and increasing unemployment, New Zealand entered the ‘Great Recession’ or the Global Financial Crisis (GFC) in 2008, from which it is still recovering. This also coincided with major financial p ...
... After a significant increase in the rate of bankruptcies, a large drop in the price of housing and stocks and increasing unemployment, New Zealand entered the ‘Great Recession’ or the Global Financial Crisis (GFC) in 2008, from which it is still recovering. This also coincided with major financial p ...
Fixed income
... dated bonds. When the yield curve is flat, investors are not really being compensated for the risk of holding longer term bonds. Duration - Duration is a measure of how sensitive the price of a fixed income security is to a change in interest rates. As interest rates rise, the price of a fixed incom ...
... dated bonds. When the yield curve is flat, investors are not really being compensated for the risk of holding longer term bonds. Duration - Duration is a measure of how sensitive the price of a fixed income security is to a change in interest rates. As interest rates rise, the price of a fixed incom ...
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.