report on corporate governance and on the ownership structure
... disciplined by law; - the directors are elected on the basis of lists, each of which contains as many candidates, each indicated by a progressive number, as the number of directors to be elected, and each list must have at least two candidates qualified as independent as contemplated by law, one of ...
... disciplined by law; - the directors are elected on the basis of lists, each of which contains as many candidates, each indicated by a progressive number, as the number of directors to be elected, and each list must have at least two candidates qualified as independent as contemplated by law, one of ...
Form 10-Q COMPAQ COMPUTER CORP - N/A Filed: April 30, 1997
... mix of earnings of its Singaporean manufacturing subsidiary due to this subsidiary's earnings not being subject to taxes in Singapore until August 2001 (with potential extension to August 2004 if certain cumulative investment levels and other conditions are met) and Compaq's decision to invest a por ...
... mix of earnings of its Singaporean manufacturing subsidiary due to this subsidiary's earnings not being subject to taxes in Singapore until August 2001 (with potential extension to August 2004 if certain cumulative investment levels and other conditions are met) and Compaq's decision to invest a por ...
DETERMINANTS OF THE DEMAND FOR LIFE INSURANCE
... Interesting is the fact that nearly all authors, who investigated the life insurance demand, related to the theoretical framework developed by Yaari (1965) as to initial point. Rudolf Enz (2000) argued in his paper that models with constant income elasticity of life insurance demand are artificial ...
... Interesting is the fact that nearly all authors, who investigated the life insurance demand, related to the theoretical framework developed by Yaari (1965) as to initial point. Rudolf Enz (2000) argued in his paper that models with constant income elasticity of life insurance demand are artificial ...
Dynamic Allocation Strategies using Minimum Volatility
... • Without limi ng any of the foregoing and to the maximum extent permi ed by applicable law, in no event shall any Informa on Provider have any liability regarding any of the Informa on for any direct, indirect, special, puni ve, consequen al (including lost profits) or any other damages even if no ...
... • Without limi ng any of the foregoing and to the maximum extent permi ed by applicable law, in no event shall any Informa on Provider have any liability regarding any of the Informa on for any direct, indirect, special, puni ve, consequen al (including lost profits) or any other damages even if no ...
The Time-Varying Liquidity Risk of Value and Growth Stocks
... portfolio and aggregate market liquidity, we confirm the findings of Petkova and Zhang (2005) that value (growth) stocks are riskier than growth (value) stocks in bad (good) times. Second, value stocks have higher sensitivity to liquidity risk in worst times than in best times, while the opposite ho ...
... portfolio and aggregate market liquidity, we confirm the findings of Petkova and Zhang (2005) that value (growth) stocks are riskier than growth (value) stocks in bad (good) times. Second, value stocks have higher sensitivity to liquidity risk in worst times than in best times, while the opposite ho ...
ESSAYS ON FINANCIAL LIBERALISATION AND BANKING
... and financial development on economic growth by utilizing the data of 71 developed and developing countries. The empirical evidence of this chapter indicates that capital account liberalisation and financial sector development play an important role in future economic growth. More specifically, in m ...
... and financial development on economic growth by utilizing the data of 71 developed and developing countries. The empirical evidence of this chapter indicates that capital account liberalisation and financial sector development play an important role in future economic growth. More specifically, in m ...
NTMA Annual Report 2014 - National Treasury Management Agency
... NewERA provides a dedicated centre of corporate finance expertise to Government in respect of commercial State bodies. It brings a commercial focus to the oversight of these companies with an emphasis on shareholder return. The economic importance of the companies within NewERA’s remit is underlined ...
... NewERA provides a dedicated centre of corporate finance expertise to Government in respect of commercial State bodies. It brings a commercial focus to the oversight of these companies with an emphasis on shareholder return. The economic importance of the companies within NewERA’s remit is underlined ...
Chapter 02 - Test bank
... you would have to look up the financial statements of the company before investing your own money. He sends you the financial report and you notice that the report is unaudited and does not provide prior years' results even though the firm had been operating for the last three years. Based on the ab ...
... you would have to look up the financial statements of the company before investing your own money. He sends you the financial report and you notice that the report is unaudited and does not provide prior years' results even though the firm had been operating for the last three years. Based on the ab ...
empresa de transporte de pasajeros metro sa and subsidiary
... LIABILITIES CURRENT LIABILITIES Other current financial liabilities ...
... LIABILITIES CURRENT LIABILITIES Other current financial liabilities ...
calcul stochastique en finance - CMAP
... development of the necessary tools from stochastic calculus and their connection with partial differential equations. Modeling financial markets by continuous-time stochastic processes was initiated by Louis Bachelier (1900) in his thesis dissertation under the supervision of Henri Poincaré. Bachel ...
... development of the necessary tools from stochastic calculus and their connection with partial differential equations. Modeling financial markets by continuous-time stochastic processes was initiated by Louis Bachelier (1900) in his thesis dissertation under the supervision of Henri Poincaré. Bachel ...
Small Firm Use of Debt: An Examination of the Smallest Small Firms
... Data for this study were drawn from the 1993 National Survey of Small Business Finances (NSSBF) conducted by the Federal Reserve and the U.S. Small Business Administration every five years. The 1993 NSSBF is the most recent for which data are publicly available. This study provides a national sample ...
... Data for this study were drawn from the 1993 National Survey of Small Business Finances (NSSBF) conducted by the Federal Reserve and the U.S. Small Business Administration every five years. The 1993 NSSBF is the most recent for which data are publicly available. This study provides a national sample ...
The information content of share repurchases
... problem caused by free cash flow. In general, if shareholders can restrict the assets under management control, it is harder for management to over-invest in negative net present value projects, to consume perquisites, or to be slothful (Grossman and Hart 1980, Easterbrook 1984, Jensen 1986, Stulz 1 ...
... problem caused by free cash flow. In general, if shareholders can restrict the assets under management control, it is harder for management to over-invest in negative net present value projects, to consume perquisites, or to be slothful (Grossman and Hart 1980, Easterbrook 1984, Jensen 1986, Stulz 1 ...
The relationship between government bond yields and the market
... If the AER were to adopt the approach of applying real weight to its own Wright and DGM estimates, the result would be more stable estimates of the allowed return on equity over time. In our view, this would be consistent with the actual returns that investors require and it would also be in the lon ...
... If the AER were to adopt the approach of applying real weight to its own Wright and DGM estimates, the result would be more stable estimates of the allowed return on equity over time. In our view, this would be consistent with the actual returns that investors require and it would also be in the lon ...
NBER WORKING PAPER SERIES ENDOGENOUS FINANCIAL AND TRADE OPENNESS Joshua Aizenman Ilan Noy
... ‘home bias’ in the allocation of financial assets identified by the financial literature (dealing mostly with the OECD countries) may be less pronounced in developing countries – i.e. it may be attenuated by political risk considerations. An alternative interpretation, however, is that more democrat ...
... ‘home bias’ in the allocation of financial assets identified by the financial literature (dealing mostly with the OECD countries) may be less pronounced in developing countries – i.e. it may be attenuated by political risk considerations. An alternative interpretation, however, is that more democrat ...
How Important Is the Inflation Risk Premium?
... maturity of a bond because the same magnitude of forecast error results in a larger cost to investors in long-term bonds than in short-term bonds. For example, assume investors expect future inflation to average 2 percent. If an investor buys a $1,000 nominal bond with a maturity of one year and a n ...
... maturity of a bond because the same magnitude of forecast error results in a larger cost to investors in long-term bonds than in short-term bonds. For example, assume investors expect future inflation to average 2 percent. If an investor buys a $1,000 nominal bond with a maturity of one year and a n ...
Accruals, Financial Distress, and Debt Covenants Troy D. Janes
... financial distress and examines the use of this information by commercial lenders in setting debt covenants. Controlling for the level of earnings, firms with extreme accruals are more likely to experience financial distress than firms with moderate accruals. Tests of the relation between accruals a ...
... financial distress and examines the use of this information by commercial lenders in setting debt covenants. Controlling for the level of earnings, firms with extreme accruals are more likely to experience financial distress than firms with moderate accruals. Tests of the relation between accruals a ...
Default Risk, the Real Exchange Rate and Income
... particular the conditions under which default is an equilibrium outcome. It is shown that default is more likely the lower the output of tradables. This result contrasts with standard participation constraint models that have a complete set of assets, which have the feature that default incentives a ...
... particular the conditions under which default is an equilibrium outcome. It is shown that default is more likely the lower the output of tradables. This result contrasts with standard participation constraint models that have a complete set of assets, which have the feature that default incentives a ...
Is the Growth-value Anomaly Related to the Asset Growth Anomaly?
... forecasts are systemically higher than realized earnings for high total asset growth firms. Furthermore, Lam and Wei (2016) show that ex-ante expectation errors determine the anomaly. They identify ex-ante expectation errors by the extrapolative total asset growth expectation being inconsistent wit ...
... forecasts are systemically higher than realized earnings for high total asset growth firms. Furthermore, Lam and Wei (2016) show that ex-ante expectation errors determine the anomaly. They identify ex-ante expectation errors by the extrapolative total asset growth expectation being inconsistent wit ...
