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SHERWIN WILLIAMS CO (Form: 10-K, Received: 03
SHERWIN WILLIAMS CO (Form: 10-K, Received: 03

... properties held primarily for use by the Company, including the Company’s headquarters site, and disposal of idle facilities. Sales of the Administrative Segment represented external leasing revenue of excess headquarters space or leasing of facilities no longer used by the Company in its operations ...
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... interest rate. The NPV of a loan then summarizes the amount a country would have to invest risk free today to cover its future debt-service obligations. Putting this notion into practice has led to the use of currency specific commercial interest rates (CIRRs). CIRRs correspond to secondary market y ...
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... WHAT IS A CLASS OF A MUTUAL FUND CORPORATION? ........................................................................................... 4  WHAT DO I OWN WHEN I INVEST?............................................................................................................................ 5  Wha ...
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Short Selling Risk - Rady School of Management
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... more uncertain for stock B than for stock A. In other words, there is considerable risk that future loan fees for stock B will be higher and future shares of stock B will be unavailable for borrowing. Since higher loan fees reduce the profits from short selling and limited share availability can fo ...
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Financial Distress and Divorce: Evidence from Bankruptcy

... financial policy can affect social outcomes, and in particular, for highlighting the role of credit in marital decisions. The theoretical framework outlines three possible mechanisms through which financial laws may affect divorce rates. First, when exemption levels are large, filing debtors have gr ...
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Securitization

Securitization is the financial practice of pooling various types of contractual debt such as residential mortgages, commercial mortgages, auto loans or credit card debt obligations (or other non-debt assets which generate receivables) and selling their related cash flows to third party investors as securities, which may be described as bonds, pass-through securities, or collateralized debt obligations (CDOs). Investors are repaid from the principal and interest cash flows collected from the underlying debt and redistributed through the capital structure of the new financing. Securities backed by mortgage receivables are called mortgage-backed securities (MBS), while those backed by other types of receivables are asset-backed securities (ABS).Critics have suggested that the complexity inherent in securitization can limit investors' ability to monitor risk, and that competitive securitization markets with multiple securitizers may be particularly prone to sharp declines in underwriting standards. Private, competitive mortgage securitization is believed to have played an important role in the U.S. subprime mortgage crisis.In addition, off-balance sheet treatment for securitizations coupled with guarantees from the issuer can hide the extent of leverage of the securitizing firm, thereby facilitating risky capital structures and leading to an under-pricing of credit risk. Off-balance sheet securitizations are believed to have played a large role in the high leverage level of U.S. financial institutions before the financial crisis, and the need for bailouts.The granularity of pools of securitized assets can mitigate the credit risk of individual borrowers. Unlike general corporate debt, the credit quality of securitized debt is non-stationary due to changes in volatility that are time- and structure-dependent. If the transaction is properly structured and the pool performs as expected, the credit risk of all tranches of structured debt improves; if improperly structured, the affected tranches may experience dramatic credit deterioration and loss.Securitization has evolved from its beginnings in the late 18th century to an estimated outstanding of $10.24 trillion in the United States and $2.25 trillion in Europe as of the 2nd quarter of 2008. In 2007, ABS issuance amounted to $3.455 trillion in the US and $652 billion in Europe. WBS (Whole Business Securitization) arrangements first appeared in the United Kingdom in the 1990s, and became common in various Commonwealth legal systems where senior creditors of an insolvent business effectively gain the right to control the company.
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