Our Brave New World
... of their eyes. They could easily see that agriculture created value, but could not see that the value created by industry would dwarf that of agriculture. Today, as the physiocrats before them, too many market participants are stuck in previous-wave thinking mode and miss the current social and econ ...
... of their eyes. They could easily see that agriculture created value, but could not see that the value created by industry would dwarf that of agriculture. Today, as the physiocrats before them, too many market participants are stuck in previous-wave thinking mode and miss the current social and econ ...
Interest Rate Risk Management for Commercial
... In order to apply a comparable and widely accepted measure for the interest rate risk of banks, we follow the “standardized interest rate shock” approach also proposed within the new Basel Capital Accord (Basel II), that are published by the Basel Committee on Banking Supervision (2004). The committ ...
... In order to apply a comparable and widely accepted measure for the interest rate risk of banks, we follow the “standardized interest rate shock” approach also proposed within the new Basel Capital Accord (Basel II), that are published by the Basel Committee on Banking Supervision (2004). The committ ...
The value of tax shields IS equal to the present value
... Fernandez (2004b) argues that the present value effect of the tax saving on debt cannot be calculated as simply the present value of the tax shields associated with interest. Instead, he claims that the only way to obtain the correct value of the tax shields from debt is to do two present value calc ...
... Fernandez (2004b) argues that the present value effect of the tax saving on debt cannot be calculated as simply the present value of the tax shields associated with interest. Instead, he claims that the only way to obtain the correct value of the tax shields from debt is to do two present value calc ...
AVISO LEGAL: Esta comunicação eletrônica (“Comunicação”) tem
... statement or summary of the securities, markets or developments referred to herein. Opinions, estimates, and projections expressed herein constitute the current judgment of the analyst responsible for the substance of this Communication as of the date in which it was issued and are therefore subject ...
... statement or summary of the securities, markets or developments referred to herein. Opinions, estimates, and projections expressed herein constitute the current judgment of the analyst responsible for the substance of this Communication as of the date in which it was issued and are therefore subject ...
Did Canada Survive the Financial Crisis Better than the United States?
... U.S. and Canada are both highly developed and have similar GDP structures. However, these two economies are also very different in terms of market size, governmental regulation and involvement (Fergusson, 2011), and consumer behavior (TD Economics, 2013). In fact, the Canadian economy appears to hav ...
... U.S. and Canada are both highly developed and have similar GDP structures. However, these two economies are also very different in terms of market size, governmental regulation and involvement (Fergusson, 2011), and consumer behavior (TD Economics, 2013). In fact, the Canadian economy appears to hav ...
Schroders seven year asset class forecast returns - 2015 update
... positive, and are set to continue to outperform government bonds and cash – though in the US, equities only just maintain ...
... positive, and are set to continue to outperform government bonds and cash – though in the US, equities only just maintain ...
Account Stated CLE slideshow 10-22
... Stonebraker: Missouri’s gift to the Consumer’s Bar “But where the account stated is based in part upon transactions which are illegal and void, and this is shown in defense to the action thereon, we regard it as clear that the consideration for the debtor's express or implied promise to pay the bal ...
... Stonebraker: Missouri’s gift to the Consumer’s Bar “But where the account stated is based in part upon transactions which are illegal and void, and this is shown in defense to the action thereon, we regard it as clear that the consideration for the debtor's express or implied promise to pay the bal ...
Shadow Banking: Economics and Policy
... increases the safety of claims (in collateral transformation) for agents in the financial system, including ultimate savers. And in its asset-side role, it provides credit to borrowers—enabled by the fact that the safe liabilities created help attract savings. The financial crisis has highlighted th ...
... increases the safety of claims (in collateral transformation) for agents in the financial system, including ultimate savers. And in its asset-side role, it provides credit to borrowers—enabled by the fact that the safe liabilities created help attract savings. The financial crisis has highlighted th ...
AND ... AND ... AND ... Reiterating Financial Derivation
... This essay is an attempt at examining the general logic of derivation, the organisational geno-practice of financial derivation—what I have called: reiterative derivation. I will endeavour to reiterate, to repeat otherwise, to displace the derivative distinction which apart from providing the financ ...
... This essay is an attempt at examining the general logic of derivation, the organisational geno-practice of financial derivation—what I have called: reiterative derivation. I will endeavour to reiterate, to repeat otherwise, to displace the derivative distinction which apart from providing the financ ...
CHAPTER 17
... The BRETTON WOODS system was established after World War II. 1. Major industrialized countries agreed to have the system of exchange rates fixed through government intervention that would make currencies convertible at fixed rates into the dollar. 2. The dollar was set equal to one and three fifth ( ...
... The BRETTON WOODS system was established after World War II. 1. Major industrialized countries agreed to have the system of exchange rates fixed through government intervention that would make currencies convertible at fixed rates into the dollar. 2. The dollar was set equal to one and three fifth ( ...
Fundamentals of Corporate Finance, 2/e
... to part with their money for a long period of time than a short-term rate. One can estimate the Beta for that stock using a regression analysis. Identifying the appropriate beta is much more complicated if the common stock is not publicly traded. ...
... to part with their money for a long period of time than a short-term rate. One can estimate the Beta for that stock using a regression analysis. Identifying the appropriate beta is much more complicated if the common stock is not publicly traded. ...
Determinants of Microfinance Loan Performance and Fluctuation Over the Business Cycle
... regulatory agencies. For example, banks in one country may be required to report PAR60 while banks in another country are required to report PAR270. Despite the differences in portfolio at risk, the literature generally finds the benefits associated with cross-country estimation to be informative. ...
... regulatory agencies. For example, banks in one country may be required to report PAR60 while banks in another country are required to report PAR270. Despite the differences in portfolio at risk, the literature generally finds the benefits associated with cross-country estimation to be informative. ...
Chapter 7 - CSUN.edu
... The longer the maturity of a bond, the more of an effect a change in interest rates will have on it. The reason for this is that the price change is compounded into the bond price for more periods. Therefore, you can rule out statements b and e. A bond that pays coupons will be less affected by inte ...
... The longer the maturity of a bond, the more of an effect a change in interest rates will have on it. The reason for this is that the price change is compounded into the bond price for more periods. Therefore, you can rule out statements b and e. A bond that pays coupons will be less affected by inte ...
Cost-Benefit Analysis of Establishing a Secondary Bond Market in
... A developed bond market opens an additional window for both the government and private investors to accumulate resources for their long-term investments, in addition to existing financial sources such as taxes, banks and stock markets. The absence of well-developed bond markets is a major impediment ...
... A developed bond market opens an additional window for both the government and private investors to accumulate resources for their long-term investments, in addition to existing financial sources such as taxes, banks and stock markets. The absence of well-developed bond markets is a major impediment ...
Latin America Macroeconomic Outlook A Global Perspective
... account for 93 percent of the region’s GDP. Henceforth, the terms LAC-7, “the region” and Latin America will be used interchangeably. 3 The average growth rate for LAC-7 is calculated using the simple average instead of a weighted average to avoid over-representing larger economies. The goal is to a ...
... account for 93 percent of the region’s GDP. Henceforth, the terms LAC-7, “the region” and Latin America will be used interchangeably. 3 The average growth rate for LAC-7 is calculated using the simple average instead of a weighted average to avoid over-representing larger economies. The goal is to a ...
Section 35.1 The Business Plan
... customers is an important part of a business plan. Disposable income is the personal income remaining from wages after all taxes are taken out. Disposable income is also known as “buying income” because this is the money consumers have to spend on the products and services offered by businesses. ...
... customers is an important part of a business plan. Disposable income is the personal income remaining from wages after all taxes are taken out. Disposable income is also known as “buying income” because this is the money consumers have to spend on the products and services offered by businesses. ...
Disclosure on Market Discipline as required under Pillar III of Basel
... Disclosure on Market Discipline as required under Pillar III of Basel III for the year ended 31 December 2015 Disclosure on Market Discipline as required under Pillar III of Basel III for the year ended 31 December 2015 The following detailed qualitative and quantitative disclosures are provided in ...
... Disclosure on Market Discipline as required under Pillar III of Basel III for the year ended 31 December 2015 Disclosure on Market Discipline as required under Pillar III of Basel III for the year ended 31 December 2015 The following detailed qualitative and quantitative disclosures are provided in ...
Structured convertibles
... Sunshine Mines issued a convertible bond with a 15-year maturity and an 8.5 percent coupon, convertible into silver at $20 an ounce. The issuer is willing to share the potential price appreciation of the underlying commodity in exchange for a lower coupon rate and better terms in bond indentures. ...
... Sunshine Mines issued a convertible bond with a 15-year maturity and an 8.5 percent coupon, convertible into silver at $20 an ounce. The issuer is willing to share the potential price appreciation of the underlying commodity in exchange for a lower coupon rate and better terms in bond indentures. ...
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.