Dodging Robin Hood: Responses to France and Italy`s
... 2012, (announced on February 29th) which consisted of a 0.2% levy on the purchase of shares of companies headquartered in France with a market cap of at least e1bn, irrespective of trading location. One hundred and nine firms fell into this category during 2012 and they were clearly identified at th ...
... 2012, (announced on February 29th) which consisted of a 0.2% levy on the purchase of shares of companies headquartered in France with a market cap of at least e1bn, irrespective of trading location. One hundred and nine firms fell into this category during 2012 and they were clearly identified at th ...
Basel III Pillar 3 Regulatory Capital Disclosure Report 12.31.15
... Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which are subject to the “safe harbor” created by those sections. Forward-looking statements may be identified by words such as “expects,” “intends,” “anticipates,” “plans,” “ ...
... Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which are subject to the “safe harbor” created by those sections. Forward-looking statements may be identified by words such as “expects,” “intends,” “anticipates,” “plans,” “ ...
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. ...
Key Investor Information
... The fund aims to provide capital growth and income by investing in equities of companies worldwide. ...
... The fund aims to provide capital growth and income by investing in equities of companies worldwide. ...
Bond Premiums and the Natural Real Rate of Interest
... An overview of the model Laubach and Williams’ model identifies the natural real rate of interest using an estimated investment-savings (IS) equation. The IS equation relates the output gap—the percent difference between the level of real GDP and its potential level—to the real interest rate gap— th ...
... An overview of the model Laubach and Williams’ model identifies the natural real rate of interest using an estimated investment-savings (IS) equation. The IS equation relates the output gap—the percent difference between the level of real GDP and its potential level—to the real interest rate gap— th ...
AS Level Business Check In test (Accounting and Finance)
... (a) A change in selling price always affects the breakeven point. (b) Candidate erroneously divides fixed costs by new selling price: 850,000/165 = 5152. (c) Correct answer: Original breakeven point = 850,000/(140-40) =8500. New breakeven point = 850,000/(165-40) = 6800. 8500 – 6800 = 1700. 1700 few ...
... (a) A change in selling price always affects the breakeven point. (b) Candidate erroneously divides fixed costs by new selling price: 850,000/165 = 5152. (c) Correct answer: Original breakeven point = 850,000/(140-40) =8500. New breakeven point = 850,000/(165-40) = 6800. 8500 – 6800 = 1700. 1700 few ...
financialIntermediation_KiyotakiPaper
... Gilchrist (1999), Brunnermeier and Sannikov (2009), Carlstrom and Fuerst (1997), Christiano, Motto and Rostagno (2009), Mendoza (2010) and Jermann and Quadrini (2009). Only the latter consider both debt and equity …nance, though they restrict attention to borrowing constraints faced by non-…nancial ...
... Gilchrist (1999), Brunnermeier and Sannikov (2009), Carlstrom and Fuerst (1997), Christiano, Motto and Rostagno (2009), Mendoza (2010) and Jermann and Quadrini (2009). Only the latter consider both debt and equity …nance, though they restrict attention to borrowing constraints faced by non-…nancial ...
Contract Intensive Money - Munich Personal RePEc Archive
... contracts -- and when property rights are not clear, so that lenders do not have secure rights to mortgaged assets in the event of borrowers' defaults -- then they cannot earn as much with the depositors' money. This means in turn that there will be less financial intermediation and higher charges f ...
... contracts -- and when property rights are not clear, so that lenders do not have secure rights to mortgaged assets in the event of borrowers' defaults -- then they cannot earn as much with the depositors' money. This means in turn that there will be less financial intermediation and higher charges f ...
Heading
... 5 Textiles includes textile portion of EPZ for GDP but not in exports or formal employment 6 Other manufacturing includes fragmented production of various mineral products, non-textile EPZ, 7 Addressed a part of construction sector ...
... 5 Textiles includes textile portion of EPZ for GDP but not in exports or formal employment 6 Other manufacturing includes fragmented production of various mineral products, non-textile EPZ, 7 Addressed a part of construction sector ...
Disruption and Connection: Cracking the Myths of China Internet
... China Internet finance rises to prominence swiftly Over the past few years, Internet finance has put on a radical feast globally, with endless Fintech start-ups and innovative solutions emerging. In China, this feast is particularly eyecatching. By the end of 2015, the overall market size of China I ...
... China Internet finance rises to prominence swiftly Over the past few years, Internet finance has put on a radical feast globally, with endless Fintech start-ups and innovative solutions emerging. In China, this feast is particularly eyecatching. By the end of 2015, the overall market size of China I ...
The Regulatory Framework... A Change of Direction Bucharest – 12
... The Basel Regulatory Framework is Undergoing a Fundamental Rethink • The financial crisis has revealed major weaknesses in traditional approaches to risk management • Performance and risk management reporting systems continue to rely on lagged risk measures that are dependent on quantitative models ...
... The Basel Regulatory Framework is Undergoing a Fundamental Rethink • The financial crisis has revealed major weaknesses in traditional approaches to risk management • Performance and risk management reporting systems continue to rely on lagged risk measures that are dependent on quantitative models ...
Derivative Market Operations
... duplicated, sold, resold or exploited for any commercial purposes. Furthermore, the book in its entirety or any part cannot be stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise. ...
... duplicated, sold, resold or exploited for any commercial purposes. Furthermore, the book in its entirety or any part cannot be stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise. ...
DOES FINANCIAL LEVERAGE INFLUENCE INVESTMENT
... managers to take prudent and sound financial decision to finance such investment opportunities. Basically we can divide the firms into two categories with respect to their growth, firms having high growth and low growth. As for high growth firms are concerned, these firms can avail any investment op ...
... managers to take prudent and sound financial decision to finance such investment opportunities. Basically we can divide the firms into two categories with respect to their growth, firms having high growth and low growth. As for high growth firms are concerned, these firms can avail any investment op ...
Weighted Average Cost of Capital (WACC)
... use comparator information - e.g. beta values for similar companies in other countries, ERP data from world-wide sources etc.; ...
... use comparator information - e.g. beta values for similar companies in other countries, ERP data from world-wide sources etc.; ...
capital investment
... Because of the higher rate of return (47.16%), it takes longer to receive your rate of return and principal back (not until almost the end of the 2nd year since more of the cash flow is rate of return rather than return of principal) and you must now earn a 47.16% rate of return on the surplus funds ...
... Because of the higher rate of return (47.16%), it takes longer to receive your rate of return and principal back (not until almost the end of the 2nd year since more of the cash flow is rate of return rather than return of principal) and you must now earn a 47.16% rate of return on the surplus funds ...
Annual Results 2014
... particularly by a downturn in Asia, to continue in the first quarter of 2015. However, we do expect a positive impact of currency movements as of the first quarter and we anticipate improved demand in the balance of the year. Given the economic environment and the company’s current performance, Beka ...
... particularly by a downturn in Asia, to continue in the first quarter of 2015. However, we do expect a positive impact of currency movements as of the first quarter and we anticipate improved demand in the balance of the year. Given the economic environment and the company’s current performance, Beka ...
Chapter 9
... Bond Price (cont.) • Paying these prices means you earn market interest rates on the bond • If market interest rates are 5%, you will pay 1050/1.05 = $1000; gain of $50 = 5% • If market interest rates are 6%, you will pay 1050/1.06 = $990.57; gain of $59.43 = 6% • If market interest rates are 4%, y ...
... Bond Price (cont.) • Paying these prices means you earn market interest rates on the bond • If market interest rates are 5%, you will pay 1050/1.05 = $1000; gain of $50 = 5% • If market interest rates are 6%, you will pay 1050/1.06 = $990.57; gain of $59.43 = 6% • If market interest rates are 4%, y ...
NBER WORKING PAPER SERIES CROSS-BORDER BANKING Jonathan Eaton Working Paper No. 4686
... discussions in Lewis and Davis (1987) and Garber and Weisbrod (1993). 2Lewis and Davis (1987) distinguish among three types of "transformation" that international banks can engage in. One, which is the usual focus of the domestic banking literature, is "maturity transformation," since bank assets an ...
... discussions in Lewis and Davis (1987) and Garber and Weisbrod (1993). 2Lewis and Davis (1987) distinguish among three types of "transformation" that international banks can engage in. One, which is the usual focus of the domestic banking literature, is "maturity transformation," since bank assets an ...
callable bond
... Purchase $1,000 convertible to 50 shares of common stock Convert when stock is ($1,000/50 shares = $20) or higher Market price rises to $22 ...
... Purchase $1,000 convertible to 50 shares of common stock Convert when stock is ($1,000/50 shares = $20) or higher Market price rises to $22 ...
Corporate Investments and Stock Returns: International Evidence*
... find that the value premium is larger for stocks with higher idiosyncratic risk, higher transaction costs, and lower analyst following. They interpret their findings to be consistent with the mispricing with limits-to-arbitrage argument. The above empirical studies from the U.S. market are inconclus ...
... find that the value premium is larger for stocks with higher idiosyncratic risk, higher transaction costs, and lower analyst following. They interpret their findings to be consistent with the mispricing with limits-to-arbitrage argument. The above empirical studies from the U.S. market are inconclus ...
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.