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Misvaluation and Return Anomalies in Distressed Stocks
... It has long been recognized in the finance literature that equity of a firm with debt in its capital structure is analogous to a call option written on the assets of the firm. The title of the seminal paper by Black and Scholes (1973) reflects the applicability of their model to the valuation of cor ...
... It has long been recognized in the finance literature that equity of a firm with debt in its capital structure is analogous to a call option written on the assets of the firm. The title of the seminal paper by Black and Scholes (1973) reflects the applicability of their model to the valuation of cor ...
Reforms of Baltic States Pension Systems: Challenges and
... migration risks of population before and after joining to EU, changes in labor and capital markets as well as progressing disproportions in age structure of the population. Latvia was among the first countries in Central and Eastern Europe, which introduced multi-pillar pension system and a first co ...
... migration risks of population before and after joining to EU, changes in labor and capital markets as well as progressing disproportions in age structure of the population. Latvia was among the first countries in Central and Eastern Europe, which introduced multi-pillar pension system and a first co ...
PowerPoint for Chapter 19
... 19.2 The components of working capital 19.3The concept of cash flow 19.4 Cash flow vs. funds flow 19.5 Organizing for short-term financial planning principles 19.6 The cash flow cycle and its calculation 19.7 Cash flow forecasting, budgeting, and planning 19.8 The cash budget 19.9 Demand-driven, cap ...
... 19.2 The components of working capital 19.3The concept of cash flow 19.4 Cash flow vs. funds flow 19.5 Organizing for short-term financial planning principles 19.6 The cash flow cycle and its calculation 19.7 Cash flow forecasting, budgeting, and planning 19.8 The cash budget 19.9 Demand-driven, cap ...
LIBBEY INC - cloudfront.net
... manufacturers, including large multinational companies such as Arc International (a French company) and Paşabahçe (a unit of Şişecam Holdings, a Turkish company), the Oneida Group (a U.S. company), AnHui DeLi Glassware Co., Ltd. (a Chinese company), Vidrieria Y Cristaleria De Lamiaco, S.A.- VICRILA ...
... manufacturers, including large multinational companies such as Arc International (a French company) and Paşabahçe (a unit of Şişecam Holdings, a Turkish company), the Oneida Group (a U.S. company), AnHui DeLi Glassware Co., Ltd. (a Chinese company), Vidrieria Y Cristaleria De Lamiaco, S.A.- VICRILA ...
Homeownership 2.0 - Chicago Unbound
... the social dynamics of neighborhoods and metropolitan areas. To explore these questions, I present a new tenure form--Homeownership 2.0 or "H2.0"-that seeks to unbundle optimally certain investment components from the core homeownership package.6 Central to my approach is a distinction between parce ...
... the social dynamics of neighborhoods and metropolitan areas. To explore these questions, I present a new tenure form--Homeownership 2.0 or "H2.0"-that seeks to unbundle optimally certain investment components from the core homeownership package.6 Central to my approach is a distinction between parce ...
Essays on international capital flows and macroeconomic stability
... foreign investors will cause demand for emerging market bonds to shift from the foreign to the local investor, causing an outflow in the emerging bond market. Both the foreign and domestic investors will cut demand for shares, and therefore the direction of share flows is unpredictable. ...
... foreign investors will cause demand for emerging market bonds to shift from the foreign to the local investor, causing an outflow in the emerging bond market. Both the foreign and domestic investors will cut demand for shares, and therefore the direction of share flows is unpredictable. ...
Duration and convexity
... a constant amount, paid at regular intervals, we refer to the economic period. security paying them as having a straight coupon. A debt security that does not have a promise to pay interest we refer to as a zero-coupon note or bond. Though most corporate bonds are straight coupon bonds, the issuer m ...
... a constant amount, paid at regular intervals, we refer to the economic period. security paying them as having a straight coupon. A debt security that does not have a promise to pay interest we refer to as a zero-coupon note or bond. Though most corporate bonds are straight coupon bonds, the issuer m ...
The Federal Reserve sets the nation`s monetary policy to promote
... the cost of U.S. goods and services in foreign markets. It will also make imported goods more expensive, which will encourage businesses and households to purchase domestically produced goods instead. All of these responses will strengthen growth in aggregate demand. A tightening of monetary policy ...
... the cost of U.S. goods and services in foreign markets. It will also make imported goods more expensive, which will encourage businesses and households to purchase domestically produced goods instead. All of these responses will strengthen growth in aggregate demand. A tightening of monetary policy ...
Nordic High Yield Update
... priorities and an organic replacement ratio of 114% is negative for the oil services industry. Despite deflation in service prices and internal cost measures within the E&P companies, we have no doubt that activity has declined and will continue to decline next year. So far, around 30 oil and gas pr ...
... priorities and an organic replacement ratio of 114% is negative for the oil services industry. Despite deflation in service prices and internal cost measures within the E&P companies, we have no doubt that activity has declined and will continue to decline next year. So far, around 30 oil and gas pr ...
moving toward value in utility compensation
... economic efficiency improvements are well understood, having been used for decades in both the United States and around the world (London Economics, 2010). However, PBR mechanisms that target social values like resilience or reduced environmental impact do not have as extensive a track record. Addit ...
... economic efficiency improvements are well understood, having been used for decades in both the United States and around the world (London Economics, 2010). However, PBR mechanisms that target social values like resilience or reduced environmental impact do not have as extensive a track record. Addit ...
VEECO INSTRUMENTS INC (Form: 10-K, Received
... Advanced Packaging includes a portfolio of wafer-level assembly technologies that enable the miniaturization and performance improvement of electronic products, such as smartphones, smartwatches, and other mobile applications. As process steps such as wet etch and cleans in Advanced Packaging have b ...
... Advanced Packaging includes a portfolio of wafer-level assembly technologies that enable the miniaturization and performance improvement of electronic products, such as smartphones, smartwatches, and other mobile applications. As process steps such as wet etch and cleans in Advanced Packaging have b ...
RTF - Vornado Realty Trust
... FFO is computed in accordance with the definition adopted by the Board of Governors of the National Association of Real Estate Investment Trusts (“NAREIT”). NAREIT defines FFO as net income or loss determined in accordance with Generally Accepted Accounting Principles (“GAAP”), excluding extraordina ...
... FFO is computed in accordance with the definition adopted by the Board of Governors of the National Association of Real Estate Investment Trusts (“NAREIT”). NAREIT defines FFO as net income or loss determined in accordance with Generally Accepted Accounting Principles (“GAAP”), excluding extraordina ...
FORM 10-Q - Piedmont Office Realty Trust, Inc.
... Piedmont Office Realty Trust, Inc. (“Piedmont”) is a Maryland corporation that operates in a manner so as to qualify as a real estate investment trust (“REIT”) for federal income tax purposes and engages in the acquisition and ownership of commercial real estate properties throughout the United Stat ...
... Piedmont Office Realty Trust, Inc. (“Piedmont”) is a Maryland corporation that operates in a manner so as to qualify as a real estate investment trust (“REIT”) for federal income tax purposes and engages in the acquisition and ownership of commercial real estate properties throughout the United Stat ...
UGI CORP /PA/ (Form: 10-K, Received: 12/24/2002
... locations in 46 states. The Partnership also sells, installs and services propane appliances, including heating systems. In certain markets, the Partnership also installs and services propane fuel systems for motor vehicles. Typically, district locations are found in suburban and rural areas where n ...
... locations in 46 states. The Partnership also sells, installs and services propane appliances, including heating systems. In certain markets, the Partnership also installs and services propane fuel systems for motor vehicles. Typically, district locations are found in suburban and rural areas where n ...
Sukuk: The Sharia Fixed Income Alternative Strategy
... in Islam as it can constitute interest. As these laws prohibit interest in any form, the entire transaction would become invalid if it occurs. Hence, the risk related to credit arises, based on the assumption that the debt may be irrecoverable at the end of the maturity period. • Coupon (profit rat ...
... in Islam as it can constitute interest. As these laws prohibit interest in any form, the entire transaction would become invalid if it occurs. Hence, the risk related to credit arises, based on the assumption that the debt may be irrecoverable at the end of the maturity period. • Coupon (profit rat ...
DMGT 2016 Full Year Preliminary Results
... operations, specifically £3 million of revenue in FY 2015 from Evenbase, dmg media’s digital recruitment business, which was disposed of. # Underlying adjusted revenue or underlying adjusted operating profit* growth is on a like-for-like basis, adjusted for constant exchange rates, disposals, non-an ...
... operations, specifically £3 million of revenue in FY 2015 from Evenbase, dmg media’s digital recruitment business, which was disposed of. # Underlying adjusted revenue or underlying adjusted operating profit* growth is on a like-for-like basis, adjusted for constant exchange rates, disposals, non-an ...
MORTGAGE TERMINATIONS, HETEROGENEITY AND THE EXERCISE OF MORTGAGE OPTIONS B Y
... stochastic processes for r and H. Due to the jointness of the options, there are two pairs of r and H that trigger termination. There are levels of r that trigger default as well as prepayment, and levels of H that trigger prepayment as well as default. For instance, a borrower may default at a low ...
... stochastic processes for r and H. Due to the jointness of the options, there are two pairs of r and H that trigger termination. There are levels of r that trigger default as well as prepayment, and levels of H that trigger prepayment as well as default. For instance, a borrower may default at a low ...
How to Discount Cashflows with Time
... and Stambaugh (1986)), and consumption–asset–labor deviations (Lettau and Ludvigson (2001)), have forecasting power for market excess returns. Second, the CAPM assumes that the riskless rate is the appropriate oneperiod, or instantaneous, riskless rate, which in practice is typically proxied by a 1- ...
... and Stambaugh (1986)), and consumption–asset–labor deviations (Lettau and Ludvigson (2001)), have forecasting power for market excess returns. Second, the CAPM assumes that the riskless rate is the appropriate oneperiod, or instantaneous, riskless rate, which in practice is typically proxied by a 1- ...
Appendix III: Credit Growth OLS Regression, Summary Statistics
... allocation of savings through the identification and funding of productive investment acts as an intermediary to facilitate technological innovation which spurs growth (Schumpeter & Alois, Translated ...
... allocation of savings through the identification and funding of productive investment acts as an intermediary to facilitate technological innovation which spurs growth (Schumpeter & Alois, Translated ...
Financialization
![](https://commons.wikimedia.org/wiki/Special:FilePath/NYUGDPFinancialShare.jpg?width=300)
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.