Financial Flexibility and the Cost of External Finance for U.S. Bank
... markets suggests that the effect would be even larger if we included firms with access to only a single market in our tests. Our results also have important implications for regulators. Froot, Scharfstein, and Stein (1993) show that in a world with costly external financing, hedging is beneficial wh ...
... markets suggests that the effect would be even larger if we included firms with access to only a single market in our tests. Our results also have important implications for regulators. Froot, Scharfstein, and Stein (1993) show that in a world with costly external financing, hedging is beneficial wh ...
Assessing and addressing the implications of new financial
... financial markets, and consumers: Decreased industry profitability and financial flexibility may result from higher capital and liquidity requirements as well as increased regulatory costs for large banks and large nonbank firms designated by the Council as requiring “more stringent” prudential s ...
... financial markets, and consumers: Decreased industry profitability and financial flexibility may result from higher capital and liquidity requirements as well as increased regulatory costs for large banks and large nonbank firms designated by the Council as requiring “more stringent” prudential s ...
full profile
... derivatives. His derivatives experience includes a five-month secondment to the law department of a major Canadian bank advising on equity derivatives transactions. He is currently actively engaged in advising market participants on Canadian derivatives regulatory developments related to trade repor ...
... derivatives. His derivatives experience includes a five-month secondment to the law department of a major Canadian bank advising on equity derivatives transactions. He is currently actively engaged in advising market participants on Canadian derivatives regulatory developments related to trade repor ...
PDF
... 6. The ARC-CO, ARC-IC, and PLC programs are not intended to serve, and cannot serve, as a substitute for crop insurance or other risk management tools. Decisions about the choice of ARC-CO, ARC-IC, or PLC should be made within the farm’s overall risk management strategy, including other risk managem ...
... 6. The ARC-CO, ARC-IC, and PLC programs are not intended to serve, and cannot serve, as a substitute for crop insurance or other risk management tools. Decisions about the choice of ARC-CO, ARC-IC, or PLC should be made within the farm’s overall risk management strategy, including other risk managem ...
Conflictive gambles
... Conflictive and ambiguous gambles were valued less than expected-utility-equivalent risky gambles, but relative valuation favoured conflictive over ambiguous gambles. This latter finding conflicts with Smithson (1999) and Cabantous (2007) and is difficult to explain. Response mode (forced choice ver ...
... Conflictive and ambiguous gambles were valued less than expected-utility-equivalent risky gambles, but relative valuation favoured conflictive over ambiguous gambles. This latter finding conflicts with Smithson (1999) and Cabantous (2007) and is difficult to explain. Response mode (forced choice ver ...
Impact of Dividend Policy on Market Capitalization of Firms Listed in
... the dependent variable which is quantify through share prices and volume of shares traded. Statistical tools like correlation and regression tests were applied to verify the hypothesis. Correlation shows a positive but weak relationship among sub variables of dividend policy and market capitalizatio ...
... the dependent variable which is quantify through share prices and volume of shares traded. Statistical tools like correlation and regression tests were applied to verify the hypothesis. Correlation shows a positive but weak relationship among sub variables of dividend policy and market capitalizatio ...
Batelco`s Cost of Capital
... Batelco’s Cost of Capital a completely riskless asset. In practice, when it comes to measurement, the portfolio of risky assets is replaced with a portfolio of equities. In the Consultation Document, the TRA proposed an ERP of 5%. This value was based on what the TRA considered as the most robust ex ...
... Batelco’s Cost of Capital a completely riskless asset. In practice, when it comes to measurement, the portfolio of risky assets is replaced with a portfolio of equities. In the Consultation Document, the TRA proposed an ERP of 5%. This value was based on what the TRA considered as the most robust ex ...
A Portfolio Built on Divident Growth - Presentation by Scott Malatesta
... investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. Refer to website www.blackrock.com to obtain performance data current to the most recent month-end. ...
... investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. Refer to website www.blackrock.com to obtain performance data current to the most recent month-end. ...
ch03 - ORU Accounting Information
... (a) Under the time period assumption, an accountant is required to determine the relevance of each business transaction to specific accounting periods. (b) An accounting time period of one year in length is referred to as a fiscal year. A fiscal year that extends from January 1 to December 31 is ref ...
... (a) Under the time period assumption, an accountant is required to determine the relevance of each business transaction to specific accounting periods. (b) An accounting time period of one year in length is referred to as a fiscal year. A fiscal year that extends from January 1 to December 31 is ref ...
Housing, Mortgage Bailout Guarantees and the
... from the outside world via, say, a market for credit derivatives. Under this interpretation the tax revenues constitute the required funds to cover the necessary insurance premium. In addition to addressing the applied policy question stated above, a second contribution of the paper is the theoretic ...
... from the outside world via, say, a market for credit derivatives. Under this interpretation the tax revenues constitute the required funds to cover the necessary insurance premium. In addition to addressing the applied policy question stated above, a second contribution of the paper is the theoretic ...
A parsimonious model to forecast financial distress, based on audit
... information asymmetries and the balance of power between the auditor and his/her client with respect to the quality of the general accounting information and, particularly, of the audit report. In addition, it formalises the logical links between the content of the audit report, the quality of the a ...
... information asymmetries and the balance of power between the auditor and his/her client with respect to the quality of the general accounting information and, particularly, of the audit report. In addition, it formalises the logical links between the content of the audit report, the quality of the a ...
NBER WORKING PAPER SERIES TAXES, REGULATIONS, AND ASSET PRICES Ellen R. McGrattan
... equity held by non-tax-paying entities. The percentage of corporate equity held by these entities — namely pension funds, individual retirement accounts, and nonprofit organizations — increased from a few percent in 1962 to around 50 percent in 2000. In the early 1960s virtually no equity was held ...
... equity held by non-tax-paying entities. The percentage of corporate equity held by these entities — namely pension funds, individual retirement accounts, and nonprofit organizations — increased from a few percent in 1962 to around 50 percent in 2000. In the early 1960s virtually no equity was held ...
The Economic Theory of Exhaustible Resources
... Hotelling's rule is based on a unique set of expectations about the future, and present supply and demand conditions. With a certain set of assumptions of future prices, profits, future supply and, current demand and supply conditions, the initial price is kept at p0, and it continues to rise accord ...
... Hotelling's rule is based on a unique set of expectations about the future, and present supply and demand conditions. With a certain set of assumptions of future prices, profits, future supply and, current demand and supply conditions, the initial price is kept at p0, and it continues to rise accord ...
Active Vs. Passive - Jentner Wealth Management
... market predictions and name the hottest stocks. But is this the best way? The debate remains: Does implementing an active or a passive approach yield more lucrative long-term returns? Today, societal pressure calls us to act now, do not just stand by, make things happen. These catch phrases penetrat ...
... market predictions and name the hottest stocks. But is this the best way? The debate remains: Does implementing an active or a passive approach yield more lucrative long-term returns? Today, societal pressure calls us to act now, do not just stand by, make things happen. These catch phrases penetrat ...
Chapter 3: How Securities Are Traded
... the imminent offering. These road shows serve two purposes. First, they generate interest among potential investors and provide information about the offering. Second, they provide information to the issuing firm and its underwriters about the price at which they will be able to market the securitie ...
... the imminent offering. These road shows serve two purposes. First, they generate interest among potential investors and provide information about the offering. Second, they provide information to the issuing firm and its underwriters about the price at which they will be able to market the securitie ...
Imperial Money Market Pool
... optional charges payable by any unitholder that would have reduced returns. Past performance does not necessarily indicate how a fund will perform in the future. The Pool’s returns are after the deduction of fees and expenses. See the section entitled Financial Highlights for the management expense ...
... optional charges payable by any unitholder that would have reduced returns. Past performance does not necessarily indicate how a fund will perform in the future. The Pool’s returns are after the deduction of fees and expenses. See the section entitled Financial Highlights for the management expense ...
Download: Optimal Financial Structure and Economic Development (pdf)
... terms of firm size, risk, and financing needs. Thus the demand of the real economy for financial services at some development stages can be systemically different from that of the same economy at other stages. Only when the characteristics of financial structure match those of the industrial structu ...
... terms of firm size, risk, and financing needs. Thus the demand of the real economy for financial services at some development stages can be systemically different from that of the same economy at other stages. Only when the characteristics of financial structure match those of the industrial structu ...
HEADER: XTX Markets joins Aquis Exchange as a member firm XTX
... Aquis Exchange is authorised and regulated by the UK Financial Conduct Authority to operate a Multilateral Trading Facility. The Aquis MTF uses a subscription pricing model which works by charging users according to the message traffic they generate, rather than a percentage of the value of each sto ...
... Aquis Exchange is authorised and regulated by the UK Financial Conduct Authority to operate a Multilateral Trading Facility. The Aquis MTF uses a subscription pricing model which works by charging users according to the message traffic they generate, rather than a percentage of the value of each sto ...
Monetization in Low- and Middle-Income Countries
... A large body of literature concerning the analysis of the demand for money also provides guidance as to the potential macroeconomic factors affecting monetization (Bordo and Jonung, 1989; Arize, 1994; Henstridge, 1999; Sriram, 2001). In a portfolio investment framework, higher returns on real assets ...
... A large body of literature concerning the analysis of the demand for money also provides guidance as to the potential macroeconomic factors affecting monetization (Bordo and Jonung, 1989; Arize, 1994; Henstridge, 1999; Sriram, 2001). In a portfolio investment framework, higher returns on real assets ...
Financial Ratio Analysis
... to examine events that may help explain the company's present condition and may have a bearing on its future prospects. For example, did the company recently incur some extraordinary losses? Is the company developing a new product? Or acquiring another company? Is the company regulated? Current even ...
... to examine events that may help explain the company's present condition and may have a bearing on its future prospects. For example, did the company recently incur some extraordinary losses? Is the company developing a new product? Or acquiring another company? Is the company regulated? Current even ...
Chapter Three
... (and expected) rate of return, the only way the investor will earn less than the coupon rate in a given year is if they have a capital loss to offset the extra 2% interest they are earning. This tells us that when the coupon rate is above the rrr the bond is selling at a premium to par and that this ...
... (and expected) rate of return, the only way the investor will earn less than the coupon rate in a given year is if they have a capital loss to offset the extra 2% interest they are earning. This tells us that when the coupon rate is above the rrr the bond is selling at a premium to par and that this ...