1 The Capital Structure Choice in Tax Contrasting
... negative relationship, Kester (1986) does not find any significant relationship. In addition to the above factors, the effective tax rate has been used as a possible determinant of the capital structure choice. According to Modigliani and Miller (1958), as interest payments on debt are tax-deductibl ...
... negative relationship, Kester (1986) does not find any significant relationship. In addition to the above factors, the effective tax rate has been used as a possible determinant of the capital structure choice. According to Modigliani and Miller (1958), as interest payments on debt are tax-deductibl ...
Think active can`t outperform? Think again
... that outperformed a specific benchmark/value in each period relative to the total assets of funds with calculable data in that period. For market cycles and trailing periods, assets were averaged using beginning- and end-of-period data. Data limitations • Backcasting. Due to the limited availability ...
... that outperformed a specific benchmark/value in each period relative to the total assets of funds with calculable data in that period. For market cycles and trailing periods, assets were averaged using beginning- and end-of-period data. Data limitations • Backcasting. Due to the limited availability ...
Markov - Mathematics
... The formalization of a trajectory that consists of taking successive random steps The results of random walk analysis have been applied to computer science, physics, ecology, economics, and a number of other fields as a fundamental model for random processes in time Turns out to be a specific ...
... The formalization of a trajectory that consists of taking successive random steps The results of random walk analysis have been applied to computer science, physics, ecology, economics, and a number of other fields as a fundamental model for random processes in time Turns out to be a specific ...
3rd draft. - Harvard Kennedy School
... destabilising speculative effects on commodity prices remains an open one. The third explanation, somewhat less prominent than the first two, is that easy monetary policy was at least one of the factors contributing to either the high demand for, or low supply of, commodities. Easy monetary policy i ...
... destabilising speculative effects on commodity prices remains an open one. The third explanation, somewhat less prominent than the first two, is that easy monetary policy was at least one of the factors contributing to either the high demand for, or low supply of, commodities. Easy monetary policy i ...
Rising Interest Rates and Your Portfolio
... delete from its balance sheet. (The Fed has already let many of its bonds mature, but so far has used those credits to purchase still more Treasuries.) Similarly, the Fed may eventually choose to sell some of its bonds on the open market, taking the cash it receives and digitally erasing it as well. ...
... delete from its balance sheet. (The Fed has already let many of its bonds mature, but so far has used those credits to purchase still more Treasuries.) Similarly, the Fed may eventually choose to sell some of its bonds on the open market, taking the cash it receives and digitally erasing it as well. ...
The case for prudent financial liberalisation and its policy implications
... regions, with for example 41% of small enterprises in Latin America and the Caribbean reporting access to credit. Indeed, 48% of small enterprises in Sub-Saharan Africa report that lack of access to credit is a major constraint for their investment, with 41% of even medium enterprises in SSA saying ...
... regions, with for example 41% of small enterprises in Latin America and the Caribbean reporting access to credit. Indeed, 48% of small enterprises in Sub-Saharan Africa report that lack of access to credit is a major constraint for their investment, with 41% of even medium enterprises in SSA saying ...
This PDF is a selection from a published volume from... National Bureau of Economic Research
... countries for the last decade or so for a broader set of firms, including privately held firms. Shourideh and Zetlin-Jones (2012) show that the amount to which privately held firms use external funding for investment is much greater than for publicly held firms. This finding is promising for heterog ...
... countries for the last decade or so for a broader set of firms, including privately held firms. Shourideh and Zetlin-Jones (2012) show that the amount to which privately held firms use external funding for investment is much greater than for publicly held firms. This finding is promising for heterog ...
Regional environment - Superintendencia Financiera de Colombia
... Congress approved the financial reform (26, November 2013), which provides a more preventive approach to bank risk and may reduce the sector's vulnerability to financial crises. ...
... Congress approved the financial reform (26, November 2013), which provides a more preventive approach to bank risk and may reduce the sector's vulnerability to financial crises. ...
Dual-Listed IPOs - Boston University
... including debt.67 In 2016–17, this option could be more attractive because lower interest rates have led some lenders to take on riskier investments in companies in pursuit of better returns.68 IPOs in the United States have recently faced a significant slowdown in the market.69 One big factor in th ...
... including debt.67 In 2016–17, this option could be more attractive because lower interest rates have led some lenders to take on riskier investments in companies in pursuit of better returns.68 IPOs in the United States have recently faced a significant slowdown in the market.69 One big factor in th ...
Kaufmann Large Cap Fund - Investor Fact Sheet
... International investing involves special risks including currency risk, increased volatility, political risks, and differences in auditing and other financial standards. Investing in IPOs involves special risks such as limited liquidity and increased volatility. ...
... International investing involves special risks including currency risk, increased volatility, political risks, and differences in auditing and other financial standards. Investing in IPOs involves special risks such as limited liquidity and increased volatility. ...
The New Reality for Exploration and Development Juniors
... • It is illogical that only 1% can buy 4 month hold stock from treasury where the investment goes directly to work while the other 99% are restricted to buying issued paper in the public market where they can buy as much as they want. • To resolve this contradiction either 1) prohibit non-accredited ...
... • It is illogical that only 1% can buy 4 month hold stock from treasury where the investment goes directly to work while the other 99% are restricted to buying issued paper in the public market where they can buy as much as they want. • To resolve this contradiction either 1) prohibit non-accredited ...
Download paper (PDF)
... estimated decrease in discount (04 percentage points) can be directly attributed to the anticipation of a takeover in the following year. The remainder could result from other factors, such as the technology-driven synergies mentioned above or anticipation of takeovers in future years. Our finding ...
... estimated decrease in discount (04 percentage points) can be directly attributed to the anticipation of a takeover in the following year. The remainder could result from other factors, such as the technology-driven synergies mentioned above or anticipation of takeovers in future years. Our finding ...
EXAM FM FINANCIAL MATHEMATICS
... organizers will take delivery of 10,000 jalapenos in one year at the market price. It will cost Happy Jalapenos 1,000 to provide 10,000 jalapenos and today’s market price is 0.12 for one jalapeno. The continuously compounded annual risk-free interest rate is 6%. Happy Jalapenos has decided to hedge ...
... organizers will take delivery of 10,000 jalapenos in one year at the market price. It will cost Happy Jalapenos 1,000 to provide 10,000 jalapenos and today’s market price is 0.12 for one jalapeno. The continuously compounded annual risk-free interest rate is 6%. Happy Jalapenos has decided to hedge ...
Empirical Analysis of Stock Returns and Volatility of the
... According to Chen et al (1986), empirical evidence suggests that, apart from traditional economicforces, stock returns have been analyzed typically by employing time series models. One approach in analysing stocks is through theinvestigation of time-series patterns and cross correlations of stock re ...
... According to Chen et al (1986), empirical evidence suggests that, apart from traditional economicforces, stock returns have been analyzed typically by employing time series models. One approach in analysing stocks is through theinvestigation of time-series patterns and cross correlations of stock re ...
NBER WORKING PAPER SERIES HOUSING AND THE MONETARY TRANSMISSION MECHANISM
... of housing prices, {πhe – πe }, provides another way for monetary policy to affect housing activity. Changes in these expectations can have an important effect on the user cost of capital and thus on housing demand, as Case and Shiller (2003) have emphasized. When monetary policy tightens and intere ...
... of housing prices, {πhe – πe }, provides another way for monetary policy to affect housing activity. Changes in these expectations can have an important effect on the user cost of capital and thus on housing demand, as Case and Shiller (2003) have emphasized. When monetary policy tightens and intere ...
Economics and Moral Sentiments: The Case of Moral Hazard
... an impartial spectator, whom we imagine expressing moral judgements on our behaviour. The impartial spectator is thus a moral check on our passions, promoting the interests of society as a whole. But within the mainstream framework, Ashraf et al (2005) discuss the impartial spectator as the voice of ...
... an impartial spectator, whom we imagine expressing moral judgements on our behaviour. The impartial spectator is thus a moral check on our passions, promoting the interests of society as a whole. But within the mainstream framework, Ashraf et al (2005) discuss the impartial spectator as the voice of ...
