![Medium Term Debt Strategy (MTDS) 2013/14](http://s1.studyres.com/store/data/021271639_1-c202fc24ea385cbbbca4f5a8baeefb62-300x300.png)
Medium Term Debt Strategy (MTDS) 2013/14
... 2012-13 as market conditions were more supportive and government mopped up more than targeted amount from the commercial banks. However, the government was unable to finance its maturing amount from commercial banks especially in second quarter of 2012-13 as market dynamics changed and banks were se ...
... 2012-13 as market conditions were more supportive and government mopped up more than targeted amount from the commercial banks. However, the government was unable to finance its maturing amount from commercial banks especially in second quarter of 2012-13 as market dynamics changed and banks were se ...
Chapter 11 Dividend Policy
... financing decisions. 3.2.2 In such a market, a change in dividend policy would not affect its share price or its market capitalisation. They showed that the value of a company was maximised if it invested in all projects with a positive net present value (its optimal investment schedule). 3.2.3 The ...
... financing decisions. 3.2.2 In such a market, a change in dividend policy would not affect its share price or its market capitalisation. They showed that the value of a company was maximised if it invested in all projects with a positive net present value (its optimal investment schedule). 3.2.3 The ...
CESifo Area Conference on PUBLIC SECTOR ECONOMICS
... TFP at an average of 1.2 percent per year. Not surprisingly, capacity utilisation of manufacturing now hovers around a third. Two thirds of capacity often owned by the government thus goes to waste. Successive military dictatorships have plundered oil wealth and Nigeria is known for its stories abou ...
... TFP at an average of 1.2 percent per year. Not surprisingly, capacity utilisation of manufacturing now hovers around a third. Two thirds of capacity often owned by the government thus goes to waste. Successive military dictatorships have plundered oil wealth and Nigeria is known for its stories abou ...
Does Dividend Policy Enhance Shareholder Value?
... business activities in each period, they can either invest it in the business, or build up cash holdings.10 In the latter case, managers enjoy considerable discretion, and may not necessarily try to maximize shareholder value. It may use the cash to serve other stakeholders, particularly itself. The ...
... business activities in each period, they can either invest it in the business, or build up cash holdings.10 In the latter case, managers enjoy considerable discretion, and may not necessarily try to maximize shareholder value. It may use the cash to serve other stakeholders, particularly itself. The ...
Investment Strategy Considerations for Inflation
... of risk, and for an investor looking to realize a real (i.e., inflation-adjusted) level of income, the MRP is a portfolio of TIPS.7 As outlined in section 1, TIPS strategies guarantee real rates of return over inflation by paying coupons on an inflation-adjusted par value of the bond, and by increas ...
... of risk, and for an investor looking to realize a real (i.e., inflation-adjusted) level of income, the MRP is a portfolio of TIPS.7 As outlined in section 1, TIPS strategies guarantee real rates of return over inflation by paying coupons on an inflation-adjusted par value of the bond, and by increas ...
A Centralised Investment Process: joined up
... Identifying a client’s financial requirements, connecting this requirement to their risk tolerance, building an investment portfolio with appropriate proportions in each asset class and then selecting the right funds to populate this portfolio, all in one seamless process, is the holy grail of inves ...
... Identifying a client’s financial requirements, connecting this requirement to their risk tolerance, building an investment portfolio with appropriate proportions in each asset class and then selecting the right funds to populate this portfolio, all in one seamless process, is the holy grail of inves ...
Banco do Brasil S.A. U.S.$1,000,000,000 Global Medium
... Application has been made to list the Notes under the Program on the Official List of the Luxembourg Stock Exchange and for such Notes to be admitted to trading on the Euro MTF market of the Luxembourg Stock Exchange. The Bank may apply to, but is not obliged to, admit the Notes to be issued under t ...
... Application has been made to list the Notes under the Program on the Official List of the Luxembourg Stock Exchange and for such Notes to be admitted to trading on the Euro MTF market of the Luxembourg Stock Exchange. The Bank may apply to, but is not obliged to, admit the Notes to be issued under t ...
SEK 75m 4% SEK 62m SEK 0.44
... operating margin of only 4% in the fourth quarter. Operating profit was affected by a periodic maintenance shutdown in Gruvön, market-related production shutdowns, a 4% price reduction for packaging paper and an additional fall in pulp prices. Despite this, we are delivering a very strong result for ...
... operating margin of only 4% in the fourth quarter. Operating profit was affected by a periodic maintenance shutdown in Gruvön, market-related production shutdowns, a 4% price reduction for packaging paper and an additional fall in pulp prices. Despite this, we are delivering a very strong result for ...
TCRP Report 89 – Financing Capital Investment
... transit systems. Current systems, some of which are old and in need of upgrading, must expand service area, increase service frequency, and improve efficiency to serve these demands. Research is necessary to solve operating problems, to adapt appropriate new technologies from other industries, and t ...
... transit systems. Current systems, some of which are old and in need of upgrading, must expand service area, increase service frequency, and improve efficiency to serve these demands. Research is necessary to solve operating problems, to adapt appropriate new technologies from other industries, and t ...
http://dx.doi.org/10.1111/j.1467-629X.2011.00462.x
... budgeting methods as well as the setting of hurdle rates, we address both of the puzzles discussed above. We contrast variables from two main categories of explanations: (i) explanatory variables that explain why certain methods used may be preferable to others, given agency problems within the firm ...
... budgeting methods as well as the setting of hurdle rates, we address both of the puzzles discussed above. We contrast variables from two main categories of explanations: (i) explanatory variables that explain why certain methods used may be preferable to others, given agency problems within the firm ...
1 SMEs IN ASIA AND THE PACIFIC
... as they can “… drive structural transformation [of an economy and corporate sector] through innovation, provision of intermediate inputs and services (which permits greater specialization in manufacturing), and by increasing employment and productivity …” (Gries and Naudé 2008a, 1). Thus, some of t ...
... as they can “… drive structural transformation [of an economy and corporate sector] through innovation, provision of intermediate inputs and services (which permits greater specialization in manufacturing), and by increasing employment and productivity …” (Gries and Naudé 2008a, 1). Thus, some of t ...
Interest Rate Conundrums in the Twenty-First Century
... A stark example of such low-frequency decoupling is the period after June 2004 when the Federal Reserve raised its short-term policy rate, but longer-term yields and forward rates actually declined. This was famously described by then Fed Chairman Alan Greenspan as a “conundrum,” and has been discus ...
... A stark example of such low-frequency decoupling is the period after June 2004 when the Federal Reserve raised its short-term policy rate, but longer-term yields and forward rates actually declined. This was famously described by then Fed Chairman Alan Greenspan as a “conundrum,” and has been discus ...
Banking in South-Eastern Europe On the move
... More complex banking and capital market products will only ...
... More complex banking and capital market products will only ...
The Term Structure of Money Market Spreads
... the parties involved in short- vs. longer-term contracts might differ. High-default institutions could show up for longer-term loans, while low-default institutions show up for short-term loans.2 This implies that the OIS is a derivative that has as the basis a short-term rate for low-default instit ...
... the parties involved in short- vs. longer-term contracts might differ. High-default institutions could show up for longer-term loans, while low-default institutions show up for short-term loans.2 This implies that the OIS is a derivative that has as the basis a short-term rate for low-default instit ...
capital requirements and bank behaviour: the impact of
... book - and the regulatory capital they have to hold. Increasingly, innovations in the market have enabled banks from a variety of countries to make use of techniques to effectively arbitrage between these two amounts, increasing bank risk relative to minimum capital levels. One technique used is sec ...
... book - and the regulatory capital they have to hold. Increasingly, innovations in the market have enabled banks from a variety of countries to make use of techniques to effectively arbitrage between these two amounts, increasing bank risk relative to minimum capital levels. One technique used is sec ...
Analysis of stock performance based on
... The objective of this thesis is to examine the validity of enterprise value/earnings before interest and tax (EV/EBIT) and return on invested capital (RoIC) as a screening tool to select stocks. The various ways of improving the selection process is an integral part of investing, and therefore this ...
... The objective of this thesis is to examine the validity of enterprise value/earnings before interest and tax (EV/EBIT) and return on invested capital (RoIC) as a screening tool to select stocks. The various ways of improving the selection process is an integral part of investing, and therefore this ...
printmgr file - AnnualReports.com
... A critical part of our job as a management team is to appropriately allocate the capital you have entrusted to us. In addition to development, we have been making select acquisitions which we believe can deliver aboveaverage long-term cash flow growth. Our capital allocation decision process also in ...
... A critical part of our job as a management team is to appropriately allocate the capital you have entrusted to us. In addition to development, we have been making select acquisitions which we believe can deliver aboveaverage long-term cash flow growth. Our capital allocation decision process also in ...
PDF
... for theories emphasizing imperfections in international credit markets.11 These papers, however, have not paid particular attention to the role of institutions in shaping international capital flows over the long-run.12 ...
... for theories emphasizing imperfections in international credit markets.11 These papers, however, have not paid particular attention to the role of institutions in shaping international capital flows over the long-run.12 ...
Doctoral Dissertation Template
... I extend my analysis on the relation between manager-debtholder incentive alignment and opportunistic income smoothing in two settings. Both settings involve managers with low debt compensation having stronger incentives to hide volatile earnings performance (i.e., opportunistic income smoothing). ...
... I extend my analysis on the relation between manager-debtholder incentive alignment and opportunistic income smoothing in two settings. Both settings involve managers with low debt compensation having stronger incentives to hide volatile earnings performance (i.e., opportunistic income smoothing). ...
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.