Vertical monopoly power, profit and risk: The British beer industry, c
... evaluations do not usually operate in reverse.21 Although several authors have stressed the importance of fairly sharing risks and benefits derived from joint effort between buyers and suppliers,22 and acknowledge that close relationships between a powerful buyer and its supplier firms create the op ...
... evaluations do not usually operate in reverse.21 Although several authors have stressed the importance of fairly sharing risks and benefits derived from joint effort between buyers and suppliers,22 and acknowledge that close relationships between a powerful buyer and its supplier firms create the op ...
Reinvestment Behavior of Large Repatriating Firms
... least 51% of the amounts repatriated cannot have been spent on shareholder payouts during 2005.2 To my knowledge, I am the first to make this point, and it stands in contrast to a common interpretation of the results of Dharmapala et al. (2011), namely that as much as $0.92 of every dollar repatriat ...
... least 51% of the amounts repatriated cannot have been spent on shareholder payouts during 2005.2 To my knowledge, I am the first to make this point, and it stands in contrast to a common interpretation of the results of Dharmapala et al. (2011), namely that as much as $0.92 of every dollar repatriat ...
Causes and Consequences of Persistently Low Interest Rates
... real interest rates and some of the possible consequences, including for policy. While there are several competing explanations, whose effects are not easy to disentangle, our analysis of the evidence suggests that an increase in the propensity to save, driven in particular by demographic developmen ...
... real interest rates and some of the possible consequences, including for policy. While there are several competing explanations, whose effects are not easy to disentangle, our analysis of the evidence suggests that an increase in the propensity to save, driven in particular by demographic developmen ...
Report of Independent Registered Public
... We have audited Liberty Mutual Holding Company Inc.’s internal control over financial reporting as of December 31, 2016, based on criteria established in Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 Framework) (the COSO cr ...
... We have audited Liberty Mutual Holding Company Inc.’s internal control over financial reporting as of December 31, 2016, based on criteria established in Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 Framework) (the COSO cr ...
Learning Curve Spillovers and Transactions Cost in
... allows rural banks to financially include them. Why? There has been a significant increase in the number of active borrowers in the Philippines since 1994. Microfinance activities have been existing previous to the 1997 establishment the regulatory body called National Credit Council. Through microf ...
... allows rural banks to financially include them. Why? There has been a significant increase in the number of active borrowers in the Philippines since 1994. Microfinance activities have been existing previous to the 1997 establishment the regulatory body called National Credit Council. Through microf ...
Corporate Finance (Book 1)
... • The primary concern is the firm’s ability to pay its bills in the short term without undue stress • Efficiency or activity ratios measure how efficiently and intensively a firm uses its assets to generate sales • Profitability ratios measure how efficiently a firm uses its assets and how efficient ...
... • The primary concern is the firm’s ability to pay its bills in the short term without undue stress • Efficiency or activity ratios measure how efficiently and intensively a firm uses its assets to generate sales • Profitability ratios measure how efficiently a firm uses its assets and how efficient ...
this PDF file - IUG Journal of Humanities and Social
... major activity of banks is lending which involves the risk that the borrower will not pay back the loan as promised, and paying a fixed rate of interest on term deposits. Also lending rates could drop, leaving the bank earning less on its investments than it is paying out on deposits. The debate on ...
... major activity of banks is lending which involves the risk that the borrower will not pay back the loan as promised, and paying a fixed rate of interest on term deposits. Also lending rates could drop, leaving the bank earning less on its investments than it is paying out on deposits. The debate on ...
Concentration risk in credit portfolios - June 2006
... theoretical basis of the Internal RatingsBased (IRB) Approaches. Through this adjustment, originally omitted single-name concentration is integrated into the ASRF model. The granularity adjustment can be calculated as the difference between unexpected loss in the real portfolio and in an infinitely ...
... theoretical basis of the Internal RatingsBased (IRB) Approaches. Through this adjustment, originally omitted single-name concentration is integrated into the ASRF model. The granularity adjustment can be calculated as the difference between unexpected loss in the real portfolio and in an infinitely ...
Cash Conversion Cycle and Firms` Profitability – A
... financial statements data starting from 2007 to 2011. Results showed that manufacturing companies are having low average return on asset and high average return on equity with reasonable average cash conversion cycle. Regression results after adjusting for heteroskedasticity of data to minimize the ...
... financial statements data starting from 2007 to 2011. Results showed that manufacturing companies are having low average return on asset and high average return on equity with reasonable average cash conversion cycle. Regression results after adjusting for heteroskedasticity of data to minimize the ...
FIN 331 in a Nutshell
... statement is ultimately insignificant unless a company can translate its earnings into cash, and the only source in financial statement data for learning about the generation of cash from operations is the statement of cash ...
... statement is ultimately insignificant unless a company can translate its earnings into cash, and the only source in financial statement data for learning about the generation of cash from operations is the statement of cash ...
Risks in Hedge Fund Strategies: Case of Convertible Arbitrage
... convertible bond’s risks that are fairly priced leaving himself with the highest expected reward for placing capital at risk. 4 A convertible arbitrage strategy (“C AS” for short) usually involves buying a portfolio of convertible securities and hedging equity risk by short-selling the underlying s ...
... convertible bond’s risks that are fairly priced leaving himself with the highest expected reward for placing capital at risk. 4 A convertible arbitrage strategy (“C AS” for short) usually involves buying a portfolio of convertible securities and hedging equity risk by short-selling the underlying s ...
Credit Reporting at the Base of the Pyramid: Key Issues
... Credible estimates of the number of microborrowers from MFIs range between 120 million and 190 million worldwide.2 But, an estimated 2.7 billion adults worldwide do not have a savings or credit account in their name with a bank or other formal institution (CGAP and World Bank 2010). Most of these “u ...
... Credible estimates of the number of microborrowers from MFIs range between 120 million and 190 million worldwide.2 But, an estimated 2.7 billion adults worldwide do not have a savings or credit account in their name with a bank or other formal institution (CGAP and World Bank 2010). Most of these “u ...
Essays in Monetary Policy and Banking Babak Mahmoudi
... that has a positive real interest rate; the central bank’s asset purchase/sale programs may be ineffective in instances of low enough inflation rates. My model also enables me to study the welfare effects of a restriction on trading with government bonds. Chapter 3 investigates the effects of open-m ...
... that has a positive real interest rate; the central bank’s asset purchase/sale programs may be ineffective in instances of low enough inflation rates. My model also enables me to study the welfare effects of a restriction on trading with government bonds. Chapter 3 investigates the effects of open-m ...
Spiceland, Chapter 3
... Reports the cash effects of transactions that enter into the determination of net income. The direct method and indirect method are two different approaches to report cash flows from operations. Each has its advantages and disadvantages, but each reconciles to the same number for total cash flows fr ...
... Reports the cash effects of transactions that enter into the determination of net income. The direct method and indirect method are two different approaches to report cash flows from operations. Each has its advantages and disadvantages, but each reconciles to the same number for total cash flows fr ...
ANNUAL REPORT - Credit Libanais
... objectives and secures credit facilitiesfrom low-cost, long term resources through local and international institutions (IFC, BDL, ESFD, Kafalat, Arab Fund, etc...). In this respect, SME outstanding facilities achieved a y-o-y growth of 10%, with core products performing very well, such as ESFD (Eco ...
... objectives and secures credit facilitiesfrom low-cost, long term resources through local and international institutions (IFC, BDL, ESFD, Kafalat, Arab Fund, etc...). In this respect, SME outstanding facilities achieved a y-o-y growth of 10%, with core products performing very well, such as ESFD (Eco ...
Accruals, Net Stock Issues and Value-Glamour Anomalies
... strong positive relation with past sales growth. Note that according to Lakonishok et al. (1994), naïve investors form their expectations on the basis of past sales growth. As such, one can expect a potential relation between the value/growth anomaly and the external financing anomaly, driven from ...
... strong positive relation with past sales growth. Note that according to Lakonishok et al. (1994), naïve investors form their expectations on the basis of past sales growth. As such, one can expect a potential relation between the value/growth anomaly and the external financing anomaly, driven from ...
Corporate Payout Policy and Product Market Competition
... concentration and payouts should be stronger among dominant firms. The reason for this is that dominant firms have characteristics that make them likely candidates to have high agency costs of free cash flows: they tend to be large mature firms with low investment opportunities that generate substan ...
... concentration and payouts should be stronger among dominant firms. The reason for this is that dominant firms have characteristics that make them likely candidates to have high agency costs of free cash flows: they tend to be large mature firms with low investment opportunities that generate substan ...
Annual Financial Statements and Combined
... online banking services that they can use to perform all of their banking business. Lending to private clients is limited, and comprises mainly housing loans and financing for investments to improve energy efficiency in homes. Consumer lending is not a line of business which we actively pursue. We o ...
... online banking services that they can use to perform all of their banking business. Lending to private clients is limited, and comprises mainly housing loans and financing for investments to improve energy efficiency in homes. Consumer lending is not a line of business which we actively pursue. We o ...
NELNET INC
... results or changes in the Company's expectations, the Company disclaims any commitment to do so except as required by securities laws. ...
... results or changes in the Company's expectations, the Company disclaims any commitment to do so except as required by securities laws. ...
Award - italaw
... difficulties that would have serious consequences for the country, its people, and its investors, both foreign and national. Indeed, the country would within a short time plunge into the worst economic and political crisis in its history. As described in the Decision on Liability (¶¶ 41-57), the Arg ...
... difficulties that would have serious consequences for the country, its people, and its investors, both foreign and national. Indeed, the country would within a short time plunge into the worst economic and political crisis in its history. As described in the Decision on Liability (¶¶ 41-57), the Arg ...
11: Corporate Finance: Corporate Investing and Financing Decisions
... Using the right combination of the financing components will maximize the company’s stock price. Above normal usage of debt would be a cheaper method of financing, but it would increase the risk of the firm. The optimal capital structure seeks a balance between risk and return that maximizes the val ...
... Using the right combination of the financing components will maximize the company’s stock price. Above normal usage of debt would be a cheaper method of financing, but it would increase the risk of the firm. The optimal capital structure seeks a balance between risk and return that maximizes the val ...
Free Full text
... medium-term. The current account deficit is expected to continue to benefit from stable financing, predominately from FDI. Risks relate mainly to progress with tax transparency and financial integrity and to heightened uncertainty in the external policy environment, primarily related to developments ...
... medium-term. The current account deficit is expected to continue to benefit from stable financing, predominately from FDI. Risks relate mainly to progress with tax transparency and financial integrity and to heightened uncertainty in the external policy environment, primarily related to developments ...
The Optimal Level of International Reserves For Emerging Market
... The recent buildup in international reserves in emerging market countries has revived old debates about the appropriate amount of reserves for an open economy. It has been argued that many emerging market countries accumulated reserves as a form of self-insurance against capital ‡ow volatility, the ...
... The recent buildup in international reserves in emerging market countries has revived old debates about the appropriate amount of reserves for an open economy. It has been argued that many emerging market countries accumulated reserves as a form of self-insurance against capital ‡ow volatility, the ...