12.6.2014 EN Official Journal of the European Union L 173/349
... An investment firm shall, when holding financial instruments belonging to clients, make adequate arrangements so as to safeguard the ownership rights of clients, especially in the event of the investment firm’s insolvency, and to prevent the use of a client’s financial instruments on own account exc ...
... An investment firm shall, when holding financial instruments belonging to clients, make adequate arrangements so as to safeguard the ownership rights of clients, especially in the event of the investment firm’s insolvency, and to prevent the use of a client’s financial instruments on own account exc ...
The Contribution of ICT and Related Sectors to Technological Change
... difficult and complicated task mainly because of the lack of detailed information about ICT investment flows and capital services among sectors and within the national economic accounts. Due to the limitation imposed by data, empirical studies on this subject were carried out mostly on developed cou ...
... difficult and complicated task mainly because of the lack of detailed information about ICT investment flows and capital services among sectors and within the national economic accounts. Due to the limitation imposed by data, empirical studies on this subject were carried out mostly on developed cou ...
The Researches on the Financing Difficulties and Improved Method
... in the financing difficulties of SMEs. On the other hand, although SMEs can gain the loan, the interest rate is higher. As the deepening of the revolution of financial institution, banking sectors pay more and more attention on the credit risk. There is a current of intensives of credit authority. P ...
... in the financing difficulties of SMEs. On the other hand, although SMEs can gain the loan, the interest rate is higher. As the deepening of the revolution of financial institution, banking sectors pay more and more attention on the credit risk. There is a current of intensives of credit authority. P ...
Blue Quay Investment Grade Credit Fund
... An investment in the Fund is subject to risks including possible delays in payment and loss of capital invested. See page 18. Distributions The Fund will distribute the total Fund Net Income to the unit-holders on a quarterly basis. Investors can elect to re-invest distributions into new Units of th ...
... An investment in the Fund is subject to risks including possible delays in payment and loss of capital invested. See page 18. Distributions The Fund will distribute the total Fund Net Income to the unit-holders on a quarterly basis. Investors can elect to re-invest distributions into new Units of th ...
Many are surprised that we put more emphasis on people than on
... (2) Operating CAPEX excludes financial investments and provisions for sites dismantling and other non-operational investments. (3) Operating cash flow = EBITDA – Operating CAPEX – Change in WC – Non-cash items and other. (4) FCF Levered after financial expenses but before capital flows and raising f ...
... (2) Operating CAPEX excludes financial investments and provisions for sites dismantling and other non-operational investments. (3) Operating cash flow = EBITDA – Operating CAPEX – Change in WC – Non-cash items and other. (4) FCF Levered after financial expenses but before capital flows and raising f ...
1 - Review of Management and Economic Engineering
... different degrees, it affects all public administration systems (United Nations, 1997): no matter how high the democratic values and principles of the governance are, systems fail to identify and meet citizens’ needs, consequently, citizens lose their trust in the system and distance themselves from ...
... different degrees, it affects all public administration systems (United Nations, 1997): no matter how high the democratic values and principles of the governance are, systems fail to identify and meet citizens’ needs, consequently, citizens lose their trust in the system and distance themselves from ...
Executive stock and option valuation in a two state
... gives an option value $8.83. This result is in sharp contrast with the RN model that gives an option value of $16.55 regardless of rmrf value. It also makes the empirical implementation of S1 model difficult in situations where the researcher must estimate the option values for hundreds of executive ...
... gives an option value $8.83. This result is in sharp contrast with the RN model that gives an option value of $16.55 regardless of rmrf value. It also makes the empirical implementation of S1 model difficult in situations where the researcher must estimate the option values for hundreds of executive ...
Form 424B4 CITIZENS FINANCIAL GROUP INC/RI
... subsidiaries” means CBNA and CBPA, “RBS” means The Royal Bank of Scotland Group plc and the “RBS Group” means RBS together with its subsidiaries (other than CFG). Unless otherwise noted, when we refer to our “peers” or “peer regional banks,” we refer to BB&T, Comerica, Fifth Third Bancorp, KeyCorp, ...
... subsidiaries” means CBNA and CBPA, “RBS” means The Royal Bank of Scotland Group plc and the “RBS Group” means RBS together with its subsidiaries (other than CFG). Unless otherwise noted, when we refer to our “peers” or “peer regional banks,” we refer to BB&T, Comerica, Fifth Third Bancorp, KeyCorp, ...
Inside Debt and Corporate Investment
... al., 2013), reduced use of covenants (Chava et al., 2010; Anantharaman et al., 2013), and lower collateral requirements (Wang et al., 2011). To the extent inside debt reduces the perceived cost of debt financing (e.g., from lower interest rates and fewer costly covenants), inside debt can increase ...
... al., 2013), reduced use of covenants (Chava et al., 2010; Anantharaman et al., 2013), and lower collateral requirements (Wang et al., 2011). To the extent inside debt reduces the perceived cost of debt financing (e.g., from lower interest rates and fewer costly covenants), inside debt can increase ...
CEBR report
... In our study, we investigated how UK organisations can unlock the economic value of big data through the adoption of big data analytics. By using big data analytics solutions, and specifically high-performance analytics, businesses and governments can analyse huge amounts of data in seconds and minu ...
... In our study, we investigated how UK organisations can unlock the economic value of big data through the adoption of big data analytics. By using big data analytics solutions, and specifically high-performance analytics, businesses and governments can analyse huge amounts of data in seconds and minu ...
5. The impact of real interest rates in the euro area
... latter two is to abstract from the effect of transitory shocks to current inflation, which may cause current inflation to be a distorted measure of expected inflation. 4 It is also sometimes argued that depending on the issue of interest one should use a particular price index, for example, a CPI if ...
... latter two is to abstract from the effect of transitory shocks to current inflation, which may cause current inflation to be a distorted measure of expected inflation. 4 It is also sometimes argued that depending on the issue of interest one should use a particular price index, for example, a CPI if ...
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... in the balance sheet capacity of banks, i.e., in global liquidity, as a result of lower perceived risk. Their research, however, does not address the observed heterogeneity in foreign positions across banking sectors and the increased importance of FDI for the foreign operations of banks. ...
... in the balance sheet capacity of banks, i.e., in global liquidity, as a result of lower perceived risk. Their research, however, does not address the observed heterogeneity in foreign positions across banking sectors and the increased importance of FDI for the foreign operations of banks. ...
What Does a Mutual Fund`s Average Credit Quality
... securities is 0.28%.vi Panel D of Exhibit 3 calculates the weighted average default in the Putnam Income Fund portfolio by weighting S&P’s cumulative five-year default rates by the amount invested by Putnam in each rating category. The weighted average five-year default rate for the Putnam Income Fu ...
... securities is 0.28%.vi Panel D of Exhibit 3 calculates the weighted average default in the Putnam Income Fund portfolio by weighting S&P’s cumulative five-year default rates by the amount invested by Putnam in each rating category. The weighted average five-year default rate for the Putnam Income Fu ...
Banks credit assessment to small businesses
... topic will be presented. It will be followed by the thesis purpose, research questions, delimitations and explanations of important definitions. Small- and medium sized businesses (SMEs) are considered as an important source for the society and the economic growth. In the way that it is a valuable s ...
... topic will be presented. It will be followed by the thesis purpose, research questions, delimitations and explanations of important definitions. Small- and medium sized businesses (SMEs) are considered as an important source for the society and the economic growth. In the way that it is a valuable s ...
Bio-AMD Inc.
... Normalized Ratio (“INR”), or the speed of blood coagulation. In 2013, the POC coagulation market for PT/INR measurement was estimated to be worth approximately US$ 870 million globally and projected to grow to an estimated US$ 1.1 billion by 2017. Market growth is driven by the rising number of pati ...
... Normalized Ratio (“INR”), or the speed of blood coagulation. In 2013, the POC coagulation market for PT/INR measurement was estimated to be worth approximately US$ 870 million globally and projected to grow to an estimated US$ 1.1 billion by 2017. Market growth is driven by the rising number of pati ...
Belief Regimes and Sovereign Debt Crises
... 5th percentile of the distribution, occur when creditors believe a rollover crisis is imminent. The other half occur when creditor beliefs are relatively “tranquil,” despite the fact that we calibrate beliefs to be tranquil for over 80 percent of the periods. Debt crises in the tranquil-belief regim ...
... 5th percentile of the distribution, occur when creditors believe a rollover crisis is imminent. The other half occur when creditor beliefs are relatively “tranquil,” despite the fact that we calibrate beliefs to be tranquil for over 80 percent of the periods. Debt crises in the tranquil-belief regim ...
Determinants of Microinsurance Demand: Evidence from a Micro
... of identifying socio-economic demand determinants. The product fulfills many aspects which are considered vital in the literature (Murdoch, 2002; Churchill, 2002, 2007; Akula, 2008). It is a deposit-cum-insurance scheme distributed via a local and trusted partner, has a cap on claim payments, utiliz ...
... of identifying socio-economic demand determinants. The product fulfills many aspects which are considered vital in the literature (Murdoch, 2002; Churchill, 2002, 2007; Akula, 2008). It is a deposit-cum-insurance scheme distributed via a local and trusted partner, has a cap on claim payments, utiliz ...
Inflating Away the Public Debt? - Centre for Economic Policy Research
... to other researchers, makes the approximations no longer necessary. Krause and Moyen (2013) use a DSGE model, making many structural and behavioral assumptions and investigating many links through inflation may affect debt, fiscal surpluses and seignorage. We only assume no arbitrage in the governm ...
... to other researchers, makes the approximations no longer necessary. Krause and Moyen (2013) use a DSGE model, making many structural and behavioral assumptions and investigating many links through inflation may affect debt, fiscal surpluses and seignorage. We only assume no arbitrage in the governm ...
Does capital market reform boost savings?
... adequacy and equity concerns (see Orszag and Stiglitz, 2001). Because most households are not saving for retirement, changes in the rate of population growth and the substitution of (unfunded) social security will not much reduce private saving rates and the introduction of such funded systems canno ...
... adequacy and equity concerns (see Orszag and Stiglitz, 2001). Because most households are not saving for retirement, changes in the rate of population growth and the substitution of (unfunded) social security will not much reduce private saving rates and the introduction of such funded systems canno ...
Enron Corporation
... Obviously, the top management operated the problem in very well, but all of they intentionally less of attention about the fraud. Including the CEO Skilling, many of the directors were continuing advocated to rise stock price, but selling the stock at the same time. • Both of they have no business e ...
... Obviously, the top management operated the problem in very well, but all of they intentionally less of attention about the fraud. Including the CEO Skilling, many of the directors were continuing advocated to rise stock price, but selling the stock at the same time. • Both of they have no business e ...
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.