0000930413-12-002776 - Investor Relations
... has changed, there are no changes to the components or amounts that are recognized in net income or other comprehensive income under current accounting guidance. As a result, the adoption of this new rule did not impact the Company’s results of operations, cash flows, or financial position. Principl ...
... has changed, there are no changes to the components or amounts that are recognized in net income or other comprehensive income under current accounting guidance. As a result, the adoption of this new rule did not impact the Company’s results of operations, cash flows, or financial position. Principl ...
The Lessons from the Housing Market Crisis Elias Karakitsos
... and concealed adverse macroeconomic developments, such as the decline in multi-factor productivity, while in the downswing it has been the key driver of the unravelling recession that has turned out to be one of the worst since the Great Depression. The boom in the housing market was financed not by ...
... and concealed adverse macroeconomic developments, such as the decline in multi-factor productivity, while in the downswing it has been the key driver of the unravelling recession that has turned out to be one of the worst since the Great Depression. The boom in the housing market was financed not by ...
forecasting the romanian financial system stability using a stochastic
... Institute of Economic Forecasting other is to support the implementation of the chosen strategy to achieve the goal in real time (Borio and Drehmann, 2008). There are several techniques used to assess systemic stability, each of them presenting both advantages and inconveniences related to the capa ...
... Institute of Economic Forecasting other is to support the implementation of the chosen strategy to achieve the goal in real time (Borio and Drehmann, 2008). There are several techniques used to assess systemic stability, each of them presenting both advantages and inconveniences related to the capa ...
Consolidated Profit and Loss Account
... bakery, confectionery, ice cream and foodservice sectors in Turkey and the Middle East, was acquired in July. Market conditions in Sub-Saharan Africa remained highly competitive. In South Africa, an increased focus on sodium reduction has generated innovation opportunities in the bakery, snacks and ...
... bakery, confectionery, ice cream and foodservice sectors in Turkey and the Middle East, was acquired in July. Market conditions in Sub-Saharan Africa remained highly competitive. In South Africa, an increased focus on sodium reduction has generated innovation opportunities in the bakery, snacks and ...
Chapter 12: The Cost of Capital
... Marginal Cost of Capital • Gallagher’s weighted average cost will change if one component cost of capital changes. • This may occur when a firm raises a particularly large amount of capital such that investors think that the firm is riskier. • The WACC of the next dollar of capital raised in called ...
... Marginal Cost of Capital • Gallagher’s weighted average cost will change if one component cost of capital changes. • This may occur when a firm raises a particularly large amount of capital such that investors think that the firm is riskier. • The WACC of the next dollar of capital raised in called ...
A financial derivative is a contract whose return depends on the
... value at time t (in dollars). For this equation to hold, the asset’s cash ‡ows and their occurrence dates have to be known in advance with certainty. Exercise: Can a Treasury bond be evaluated using the PV principle? Give the assumptions under which a stock can be evaluated using the PV principle. D ...
... value at time t (in dollars). For this equation to hold, the asset’s cash ‡ows and their occurrence dates have to be known in advance with certainty. Exercise: Can a Treasury bond be evaluated using the PV principle? Give the assumptions under which a stock can be evaluated using the PV principle. D ...
2 January 2008
... investment company, today confirmed its participation in the public offer for all bearer shares of Absolute Private Equity, Ltd. (“Absolute”), alongside secondary funds managed by HarbourVest Partners, LLC. The preliminary final result, announced today, indicates that 98.68% of Absolute shareholders ...
... investment company, today confirmed its participation in the public offer for all bearer shares of Absolute Private Equity, Ltd. (“Absolute”), alongside secondary funds managed by HarbourVest Partners, LLC. The preliminary final result, announced today, indicates that 98.68% of Absolute shareholders ...
Optimal Pricing and Return Policies for Perishable Commodities
... the previous equation is satisfied, the independent retailer should order the same quantity from the manufacturer as would the manufacturer if operating a company store. This results in maximum total profits to the retailer and manufacturer, and the channel is said to be coordinated. ...
... the previous equation is satisfied, the independent retailer should order the same quantity from the manufacturer as would the manufacturer if operating a company store. This results in maximum total profits to the retailer and manufacturer, and the channel is said to be coordinated. ...
Equilibrium Commodity Prices with Irreversible Investment and Non-Linear Technologies ∗
... are by nature statistical and make no predictions about what are the appropriate specifications of the joint dynamics of spot, convenience yield and interest rates. The choices are mostly dictated by analytical convenience and data. In this paper we propose a general equilibrium model of spot and f ...
... are by nature statistical and make no predictions about what are the appropriate specifications of the joint dynamics of spot, convenience yield and interest rates. The choices are mostly dictated by analytical convenience and data. In this paper we propose a general equilibrium model of spot and f ...
Estimating and interpreting probability density functions
... In recent years, central banks have increasingly used option markets to construct measures of market conditions and market participants’ expectations. Most recently, techniques have been developed that use option prices to estimate or recover the entire expected distribution (probability density fun ...
... In recent years, central banks have increasingly used option markets to construct measures of market conditions and market participants’ expectations. Most recently, techniques have been developed that use option prices to estimate or recover the entire expected distribution (probability density fun ...
Over-the-counter loans, adverse selection, and stigma in the
... features, can be regarded as an attempt to limit the possibility of stigma associated with accessing this source of central bank liquidity.2 In this paper, we will discuss specific conditions under which stigma may arise in the context of a formal model. We believe that the resulting insights are us ...
... features, can be regarded as an attempt to limit the possibility of stigma associated with accessing this source of central bank liquidity.2 In this paper, we will discuss specific conditions under which stigma may arise in the context of a formal model. We believe that the resulting insights are us ...
Value drivers
... the tremendous opportunities to the Mutual Funds in these areas. MFs may link themselves to the Credit Cards. Mutual Funds units may assume the position of the Virtual Cash, over the period of time, in all dimensions of life. Trading of Credit derivatives (both purchase and sale). Mutual Funds may b ...
... the tremendous opportunities to the Mutual Funds in these areas. MFs may link themselves to the Credit Cards. Mutual Funds units may assume the position of the Virtual Cash, over the period of time, in all dimensions of life. Trading of Credit derivatives (both purchase and sale). Mutual Funds may b ...
1 The Effect of Interest Rate Increase on Bond Investments in a Low
... We see here two kinds of accounting: the loss in the value of the bond, and the loss in the value of the bond account which includes the value of the bond and current coupon payments. A bond mutual fund. A typical bond mutual fund has share prices called NAVs. A bond fund typically pays interest pa ...
... We see here two kinds of accounting: the loss in the value of the bond, and the loss in the value of the bond account which includes the value of the bond and current coupon payments. A bond mutual fund. A typical bond mutual fund has share prices called NAVs. A bond fund typically pays interest pa ...
Jonathan Eaton Working
... where V is, in indirect terms, the contribution of the working period to lifetime utility and V° that of the retirement period. ...
... where V is, in indirect terms, the contribution of the working period to lifetime utility and V° that of the retirement period. ...
No Slide Title
... products which are transferred between the firm’s divisions.This gives rise to the need for an appropriate transfer pricing policy and the problem of determining the transfer price so as to maximise overall company profits. Peak-load pricing involves differentiated pricing which reflects differences ...
... products which are transferred between the firm’s divisions.This gives rise to the need for an appropriate transfer pricing policy and the problem of determining the transfer price so as to maximise overall company profits. Peak-load pricing involves differentiated pricing which reflects differences ...
Climate change risks
... We asked managers to explain how they manage climate change related risks in their portfolios. In response, managers advised that they utilise a range of techniques, including requiring a higher return to compensate for risk, portfolio risk management strategies and avoidance of most at risk assets. ...
... We asked managers to explain how they manage climate change related risks in their portfolios. In response, managers advised that they utilise a range of techniques, including requiring a higher return to compensate for risk, portfolio risk management strategies and avoidance of most at risk assets. ...
Chapter 2
... Rate of Return Rule Accept investments that offer rates of return in excess of their opportunity cost of capital. Example In the project listed below, the foregone investment opportunity is 12%. Should we do the project? profit ...
... Rate of Return Rule Accept investments that offer rates of return in excess of their opportunity cost of capital. Example In the project listed below, the foregone investment opportunity is 12%. Should we do the project? profit ...
Banks` Sovereign Exposures and the Feedback Loop
... This is clearly shown by the example of Italy, where the debt to GDP ratio has risen by 33 percentage points since 2007. Back-of-the-envelope calculations show that if Italian real GDP had since grown at a similar rate as in the previous ten years and the deflator had risen in line with the euro ar ...
... This is clearly shown by the example of Italy, where the debt to GDP ratio has risen by 33 percentage points since 2007. Back-of-the-envelope calculations show that if Italian real GDP had since grown at a similar rate as in the previous ten years and the deflator had risen in line with the euro ar ...
A Common Jump Factor Stochastic Volatility Model
... an additional component to model the volatility level as an additional latent factor µt through a compound Binomial process. In this specification the variable δt represents the realizations of a Bernoulli process with success probability p representing the jumps in the level of volatility. In this ...
... an additional component to model the volatility level as an additional latent factor µt through a compound Binomial process. In this specification the variable δt represents the realizations of a Bernoulli process with success probability p representing the jumps in the level of volatility. In this ...
The Federal Reserve`s Primary Dealer Credit Facility
... The PDCF program is based on the triparty repo legal and operational infrastructure that the Federal Reserve uses to conduct its repo operations. (See Box 3 for a discussion of triparty repo agreements.) To access the PDCF, primary dealersa communicate a demand for overnight funding to their clearin ...
... The PDCF program is based on the triparty repo legal and operational infrastructure that the Federal Reserve uses to conduct its repo operations. (See Box 3 for a discussion of triparty repo agreements.) To access the PDCF, primary dealersa communicate a demand for overnight funding to their clearin ...
P a g e 1
... their projects. Moreover, they do so with considerable efficiency. Thus, depositors and investors avoid having to do this job themselves. This function makes banks unique: Banks extend long-term credit and raise short-term debt. We call this banks' maturity transformation. But this transformation al ...
... their projects. Moreover, they do so with considerable efficiency. Thus, depositors and investors avoid having to do this job themselves. This function makes banks unique: Banks extend long-term credit and raise short-term debt. We call this banks' maturity transformation. But this transformation al ...