The equity premium
... Why has the rate of return on stocks been significantly higher than the rate of return on relatively risk free assets? One intuitive answer is that stocks are "riskier" than bonds and investors require a premium for bearing this additional risk. Indeed, the standard deviation of the returns to stoc ...
... Why has the rate of return on stocks been significantly higher than the rate of return on relatively risk free assets? One intuitive answer is that stocks are "riskier" than bonds and investors require a premium for bearing this additional risk. Indeed, the standard deviation of the returns to stoc ...
the economic adjustment programme for Cyprus
... internal macroeconomic imbalances. While some imbalances have only emerged following the sharp recession and the collapse of the domestic credit boom, others have been building up over the past decade. Cyprus enjoyed strong growth in the first decade of the millennium, twice that of the euro area. G ...
... internal macroeconomic imbalances. While some imbalances have only emerged following the sharp recession and the collapse of the domestic credit boom, others have been building up over the past decade. Cyprus enjoyed strong growth in the first decade of the millennium, twice that of the euro area. G ...
The Effect of Debt on the Cost of Equity in a Regulatory Setting
... capital structure affects the estimated cost of equity estimate just as a life insurance applicant's age affects the required life insurance premium. An insurance agent wouldn't measure the required insurance premium for one person and charge the same premium to an otherwise identical person who was ...
... capital structure affects the estimated cost of equity estimate just as a life insurance applicant's age affects the required life insurance premium. An insurance agent wouldn't measure the required insurance premium for one person and charge the same premium to an otherwise identical person who was ...
Default Risk and Aggregate Fluctuations in Emerging Economies
... the volatility of output. Uribe and Yue (2003) construct an empirical VAR to uncover the relationship between country interest rates and output, and then estimate with a theoretical model this relationship. They find that country spreads explain 12% of movements in output, and that output explains 1 ...
... the volatility of output. Uribe and Yue (2003) construct an empirical VAR to uncover the relationship between country interest rates and output, and then estimate with a theoretical model this relationship. They find that country spreads explain 12% of movements in output, and that output explains 1 ...
IMF Staff Reports for the G-20 Mutual Assessment Process : Global
... Central Bank has raised policy rates, but they remain at low levels, and monetary policy rates remain close to the zero bound in the United Kingdom, United States, and Japan. The major advanced economies have also used ...
... Central Bank has raised policy rates, but they remain at low levels, and monetary policy rates remain close to the zero bound in the United Kingdom, United States, and Japan. The major advanced economies have also used ...
Corporate Environmental Liabilities and Capital Structure Xin Chang
... which would increase firms’ likelihood of financial distress and bankruptcy, thereby reducing their use of financial debt. Finally, supply side factors may also play a role. Environmentally sensitive lending has increased markedly over the last two decades. A large number of banks, which account for ...
... which would increase firms’ likelihood of financial distress and bankruptcy, thereby reducing their use of financial debt. Finally, supply side factors may also play a role. Environmentally sensitive lending has increased markedly over the last two decades. A large number of banks, which account for ...
Financial literacy and its role in promoting a sound financial system
... respond innovatively to consumer demand, leading to a more dynamically efficient financial system. ...
... respond innovatively to consumer demand, leading to a more dynamically efficient financial system. ...
the determinants of capital structure: the evidence from the
... have higher average leverage then older companies, which are able to finance its activity using accumulated internal sources from obtained profits. Thus, there is a negative relation between age of a company and capital structure (Michaelas et al., 1999; Hall et al., 2000). There are some other not fr ...
... have higher average leverage then older companies, which are able to finance its activity using accumulated internal sources from obtained profits. Thus, there is a negative relation between age of a company and capital structure (Michaelas et al., 1999; Hall et al., 2000). There are some other not fr ...
Investing in Real Estate in a Shariah Compliant Way
... Debt to assets of 30% or less (3/4/2 of Standard 21) Impermissible income of 5% or less (3/4/3 of Standard 21) ...
... Debt to assets of 30% or less (3/4/2 of Standard 21) Impermissible income of 5% or less (3/4/3 of Standard 21) ...
Basics and Problems - Ace MBAe Finance Specialization
... These results indicate that Walgreens currently collects its accounts receivable in about 10 days on average, and this collection period has increased slightly over the recent five years. To determine whether these receivable collection numbers are good or bad, it is essential that they be related ...
... These results indicate that Walgreens currently collects its accounts receivable in about 10 days on average, and this collection period has increased slightly over the recent five years. To determine whether these receivable collection numbers are good or bad, it is essential that they be related ...
2010 Financial Report
... The following discussion and analysis provides an overview of the financial position of Wayne State University (the “University”) at September 30, 2010 and of its operations and cash flows for the year then ended. Selected comparative information is provided for the years ended September 30, 2009 an ...
... The following discussion and analysis provides an overview of the financial position of Wayne State University (the “University”) at September 30, 2010 and of its operations and cash flows for the year then ended. Selected comparative information is provided for the years ended September 30, 2009 an ...
Debt Refinancing and Equity Returns
... with leverage within each refinancing tertile. Furthermore, the difference in returns of highand low-leverage firms increases as the refinancing intensity increases (i.e. debt maturities become shorter). These findings are consistent with the notion that shareholders demand a premium for holding hi ...
... with leverage within each refinancing tertile. Furthermore, the difference in returns of highand low-leverage firms increases as the refinancing intensity increases (i.e. debt maturities become shorter). These findings are consistent with the notion that shareholders demand a premium for holding hi ...
Krislert Samphantharak and Robert M
... income or assets) while others are practical problems (how to measure enterprise income or assets). There is another caveat. We compute the return on assets using different definitions of business income and assets for household enterprises drawn from a single survey instrument. One potential concer ...
... income or assets) while others are practical problems (how to measure enterprise income or assets). There is another caveat. We compute the return on assets using different definitions of business income and assets for household enterprises drawn from a single survey instrument. One potential concer ...
Debt Priority and Options in Bankruptcy: A
... reorganization has less debt, with some debt converted to equity. More specifically, a reorganization plan addresses the overhang by reducing the face amount of priority debt. Although reorganization is largely a consent procedure under which the creditors vote in class to accept the plan, the court ...
... reorganization has less debt, with some debt converted to equity. More specifically, a reorganization plan addresses the overhang by reducing the face amount of priority debt. Although reorganization is largely a consent procedure under which the creditors vote in class to accept the plan, the court ...
International Capital Flows and House Prices: Theory and Evidence*
... But credit availability can also change endogenously in response to ‡uctuations in the aggregate economy and to revisions in expectations about future economic conditions, including house price growth. This information is re‡ected immediately in collateral values that constrain borrowing capacity. A ...
... But credit availability can also change endogenously in response to ‡uctuations in the aggregate economy and to revisions in expectations about future economic conditions, including house price growth. This information is re‡ected immediately in collateral values that constrain borrowing capacity. A ...
Does austerity pay off?
... issued in common currency. To the extent that goods and financial markets are sufficiently integrated, we thus eliminate fluctuations in yields due to changes in real interest rates, inflation expectations, and the risk premia associated with them. In addition to a default ...
... issued in common currency. To the extent that goods and financial markets are sufficiently integrated, we thus eliminate fluctuations in yields due to changes in real interest rates, inflation expectations, and the risk premia associated with them. In addition to a default ...
How Likely is Hyperinflation in the US? Part One
... Contrary to Reinhart and Savastano, modern hyperinflation is not limited to this second type. But they accurately note that hyperinflation may be expected when the currency exchange premium – the premium the most used foreign currency commands over the native currency – rises above 50%. This typica ...
... Contrary to Reinhart and Savastano, modern hyperinflation is not limited to this second type. But they accurately note that hyperinflation may be expected when the currency exchange premium – the premium the most used foreign currency commands over the native currency – rises above 50%. This typica ...
Wed issue Dft#1 040710(2)IF
... We have an economy in a state of collapse and part of the reason for that is free trade, globalization, offshoring and outsourcing, which since 2000 has cost America some 8 million good quality jobs. Where are you Smoot-Hawley now that we need you? There are many reasons why the American economy is ...
... We have an economy in a state of collapse and part of the reason for that is free trade, globalization, offshoring and outsourcing, which since 2000 has cost America some 8 million good quality jobs. Where are you Smoot-Hawley now that we need you? There are many reasons why the American economy is ...
chapter 2 estimating discount rates
... the value of only that investment or a small group of investments will have only a small impact on your overall portfolio. The second reason is that the effects of firm-specific actions on the prices of individual assets in a portfolio can be either positive or negative for each asset for any period ...
... the value of only that investment or a small group of investments will have only a small impact on your overall portfolio. The second reason is that the effects of firm-specific actions on the prices of individual assets in a portfolio can be either positive or negative for each asset for any period ...
Investors Guide To CMOs
... principal, or face amount, of the bond for a prescribed period of time in return for a specified annual rate of interest. The bondholder receives interest, generally in semiannual payments, until the bond is redeemed. When the bond matures or is called by the issuer, the issuer returns the “face va ...
... principal, or face amount, of the bond for a prescribed period of time in return for a specified annual rate of interest. The bondholder receives interest, generally in semiannual payments, until the bond is redeemed. When the bond matures or is called by the issuer, the issuer returns the “face va ...
MERCURY GENERAL CORP (Form: 424B5
... certain information contained in the accompanying prospectus. If there is any inconsistency between the information in this prospectus supplement and the accompanying prospectus, you should rely on the information in this prospectus supplement. Further, to the extent the information contained in thi ...
... certain information contained in the accompanying prospectus. If there is any inconsistency between the information in this prospectus supplement and the accompanying prospectus, you should rely on the information in this prospectus supplement. Further, to the extent the information contained in thi ...
words
... We are not, and the underwriters are not, making an offer of the notes in any jurisdiction where the offer or sale is not permitted. The distribution of this prospectus supplement and the accompanying prospectus and the offering or sale of the notes in some jurisdictions may be restricted by law. Th ...
... We are not, and the underwriters are not, making an offer of the notes in any jurisdiction where the offer or sale is not permitted. The distribution of this prospectus supplement and the accompanying prospectus and the offering or sale of the notes in some jurisdictions may be restricted by law. Th ...
Methods of Loan Guarantee Valuation and Accounting
... $100 made from government revenues is recorded as an outflow of $100. But a government guarantee of a $100 loan made by a private lender is recorded as a zero outlay, since nothing has been spent in that accounting period. The guarantee is accounted for only when a default occurs and the obligation ...
... $100 made from government revenues is recorded as an outflow of $100. But a government guarantee of a $100 loan made by a private lender is recorded as a zero outlay, since nothing has been spent in that accounting period. The guarantee is accounted for only when a default occurs and the obligation ...
Link - Validus Risk Management
... responsibility of the finance director. For the largest managers, typically with several billion dollars under management, a dedicated risk management function is often necessary. The investment focus of the fund also plays a major role in how risks are prioritized and managed. For example, a fund s ...
... responsibility of the finance director. For the largest managers, typically with several billion dollars under management, a dedicated risk management function is often necessary. The investment focus of the fund also plays a major role in how risks are prioritized and managed. For example, a fund s ...
Household debt
Household debt is defined as the amount of money that all adults in the household owe financial institutions. It includes consumer debt and mortgage loans. A significant rise in the level of this debt coincides historically with many severe economic crises and was a cause of the U.S. and subsequent European economic crises of 2007–2012. Several economists have argued that lowering this debt is essential to economic recovery in the U.S. and selected Eurozone countries.