Arbitrage Opportunities
... based on convergence trading and the risks associated with the temporary divergence of mispriced assets. An example of convergence trading is the exploitation of the mispricing of dual-listed companies (DLCs). DLCs are often seen as perfect substitutes for each other in integrated and efficient fina ...
... based on convergence trading and the risks associated with the temporary divergence of mispriced assets. An example of convergence trading is the exploitation of the mispricing of dual-listed companies (DLCs). DLCs are often seen as perfect substitutes for each other in integrated and efficient fina ...
Board Independence, Ownership Structure and Firm
... (1992); Jensen (1993); and Hermalin and Weisbach (2003) the board size should be limited to 7 or 8 because large bards are less effective and difficult for CEO to control. Large boars are detrimental because they give birth to free riding issues Hermalin and Weisbach (2003) and also create hurdles i ...
... (1992); Jensen (1993); and Hermalin and Weisbach (2003) the board size should be limited to 7 or 8 because large bards are less effective and difficult for CEO to control. Large boars are detrimental because they give birth to free riding issues Hermalin and Weisbach (2003) and also create hurdles i ...
large cap growth review - North Carolina State Treasurer
... manager. The beta of a portfolio is also indicative of its upside downside performance, with a lower beta (less than 1.0) indicating better expected down market performance. In terms of style exposure, we can measure the strength of the portfolio bias toward growth by looking at portfolio holdings o ...
... manager. The beta of a portfolio is also indicative of its upside downside performance, with a lower beta (less than 1.0) indicating better expected down market performance. In terms of style exposure, we can measure the strength of the portfolio bias toward growth by looking at portfolio holdings o ...
westpac`s response to the final report of the financial system inquiry
... Implementation of the principles-based design and distribution obligation proposed by the Inquiry should be undertaken with clarity and simplicity, and help to streamline the mechanisms of the existing consumer protection framework. Clear and consistent legal and regulatory obligations will protect ...
... Implementation of the principles-based design and distribution obligation proposed by the Inquiry should be undertaken with clarity and simplicity, and help to streamline the mechanisms of the existing consumer protection framework. Clear and consistent legal and regulatory obligations will protect ...
Capital raising in Australia
... The events of recent years commonly referred to as the global financial crisis were more severely felt by banking organisations in the US and Europe, rather than those in Australia. The GFC started with the troubles in the US subprime mortgage market and quickly translated into specific financial pr ...
... The events of recent years commonly referred to as the global financial crisis were more severely felt by banking organisations in the US and Europe, rather than those in Australia. The GFC started with the troubles in the US subprime mortgage market and quickly translated into specific financial pr ...
Change in the rules regarding limitations for collateral in the form of
... was appropriate, from a risk point of view, to aim at diversification in the collateral volume pledged to the Riksbank by its counterparties. One means of achieving this aim is to limit the share of the counterparty’s collateral that is issued by the same counterparty or by a group of closely-relate ...
... was appropriate, from a risk point of view, to aim at diversification in the collateral volume pledged to the Riksbank by its counterparties. One means of achieving this aim is to limit the share of the counterparty’s collateral that is issued by the same counterparty or by a group of closely-relate ...
Yield Curve Basics
... maturities of the securities are highly concentrated at one point on the yield curve. For example, most of the bonds in a portfolio may mature in 10 years. In a barbell strategy, the maturities of the securities in a portfolio are concentrated at two extremes, such as five years and 20 years. In a ...
... maturities of the securities are highly concentrated at one point on the yield curve. For example, most of the bonds in a portfolio may mature in 10 years. In a barbell strategy, the maturities of the securities in a portfolio are concentrated at two extremes, such as five years and 20 years. In a ...
global insight
... and house prices firming. This is a big change from last year when the region looked ready to slip back into recession. We expect eurozone growth will improve further in 2016. Our confidence stems from the fact that the region’s banks, after a year of intense capital raising, appear to be back in th ...
... and house prices firming. This is a big change from last year when the region looked ready to slip back into recession. We expect eurozone growth will improve further in 2016. Our confidence stems from the fact that the region’s banks, after a year of intense capital raising, appear to be back in th ...
exam3 - Trinity University
... 31. (03 Points) The following contract does not have a SFAS 133 Paragraph 6 notional in a clear sense. Company C pays $100,000 for an option to receive $2 million if the average LIBOR for the next 12 months exceeds 8%. Is this option contract subject to SFAS 133 rules? a. No. Paragraph 6a requires a ...
... 31. (03 Points) The following contract does not have a SFAS 133 Paragraph 6 notional in a clear sense. Company C pays $100,000 for an option to receive $2 million if the average LIBOR for the next 12 months exceeds 8%. Is this option contract subject to SFAS 133 rules? a. No. Paragraph 6a requires a ...
Financial Deepening
... the borrower can make to repay any bearer of the claim.3 Multilateral commitment to repay any bearer is generally more demanding than bilateral commitment to repay the initial lender because, as an insider, the initial lender may become better informed about (or develop greater leverage over) the bo ...
... the borrower can make to repay any bearer of the claim.3 Multilateral commitment to repay any bearer is generally more demanding than bilateral commitment to repay the initial lender because, as an insider, the initial lender may become better informed about (or develop greater leverage over) the bo ...
The Macroeconomic Transition to High Household Debt Jeffrey R. Campbell Zvi Hercowitz
... homes.6 These homes’ owners have had very little time to accumulate equity through debt amortization, so these ratios are very close to the homeowners’ effective down payments. We expect deregulation to lower down payments, because it allowed lenders to more easily issue second or third mortgages w ...
... homes.6 These homes’ owners have had very little time to accumulate equity through debt amortization, so these ratios are very close to the homeowners’ effective down payments. We expect deregulation to lower down payments, because it allowed lenders to more easily issue second or third mortgages w ...
Political Connections, Financial Crisis and Firm`s Value
... investigate the possible approaches that affects political connected firm’s value, we will take growth of the firm and net asset per share to exam our hypothesis. We define the growth of revenue as growth of the firm. And net asset per share means the ratio of shareholder’s equity and the number of ...
... investigate the possible approaches that affects political connected firm’s value, we will take growth of the firm and net asset per share to exam our hypothesis. We define the growth of revenue as growth of the firm. And net asset per share means the ratio of shareholder’s equity and the number of ...
To lock or not to lock – An introduction to the Locked Box
... the most obvious being that it gives certainty of price for both Buyer and Seller at the time of signing the SPA, which explains why this mechanism is particularly favored by Private Equity and financial Sellers. It is also becoming increasingly popular in the Corporate Sector as well as they see th ...
... the most obvious being that it gives certainty of price for both Buyer and Seller at the time of signing the SPA, which explains why this mechanism is particularly favored by Private Equity and financial Sellers. It is also becoming increasingly popular in the Corporate Sector as well as they see th ...
Single Point of Entry and the Bankruptcy
... energy in the weeks before the government stepped in preparing a report that was designed to persuade regulators that a failure to bail out AIG could be disastrous. One very destructive consequence of Lehman’s assumption it would be bailed out was that Lehman made almost no efforts to prepare for th ...
... energy in the weeks before the government stepped in preparing a report that was designed to persuade regulators that a failure to bail out AIG could be disastrous. One very destructive consequence of Lehman’s assumption it would be bailed out was that Lehman made almost no efforts to prepare for th ...
The Development of an Appropriate Regulatory Response to the
... on a self‐regulatory approach to key safety measures such as capital adequacy requirements. Various measures of risk management were explored, with systems such as the Value at Risk model (pioneered by J.P. Morgan) becoming the benchmarks for risk measurement. ...
... on a self‐regulatory approach to key safety measures such as capital adequacy requirements. Various measures of risk management were explored, with systems such as the Value at Risk model (pioneered by J.P. Morgan) becoming the benchmarks for risk measurement. ...
ESTIMATINg pROBABILITY Of DEfAULT AND COMpARINg IT TO
... highly countercyclical and it seems more tightly related to credit growth than to GDP growth. As shown by Bonfim (2009), Jimenez and Saurina (2006) and others, most of the credit risk is built up during periods of strong credit growth when banks apply looser credit standards. This risk materializes ...
... highly countercyclical and it seems more tightly related to credit growth than to GDP growth. As shown by Bonfim (2009), Jimenez and Saurina (2006) and others, most of the credit risk is built up during periods of strong credit growth when banks apply looser credit standards. This risk materializes ...
NBER WORKING PAPER SERIES BUBBLES AND CAPITAL FLOWS Jaume Ventura
... better technologies and policies are richer but do not grow faster.3 The second hypothesis is that international financial markets have limited ability to arbitrage cross-country differences in rates of return. This might be due to a variety of frictions such as policy-induced barriers, transaction ...
... better technologies and policies are richer but do not grow faster.3 The second hypothesis is that international financial markets have limited ability to arbitrage cross-country differences in rates of return. This might be due to a variety of frictions such as policy-induced barriers, transaction ...