Group annual financial statements
... The capital adequacy of banks and banking groups is measured in terms of the requirements of the Banks Act (Act 94 of 1990, as amended) and regulations thereto. The ratio is calculated by dividing the sum of Tier 1 and Tier 2 capital by the risk-weighted assets. Cash and cash equivalents Cash and ca ...
... The capital adequacy of banks and banking groups is measured in terms of the requirements of the Banks Act (Act 94 of 1990, as amended) and regulations thereto. The ratio is calculated by dividing the sum of Tier 1 and Tier 2 capital by the risk-weighted assets. Cash and cash equivalents Cash and ca ...
The volatility of banks in the financial crisis
... Whereas the real economic activity always has a major impact on volatility, financial leverages’ impact depends on the state of the economy. To clarify, financial leverage is the degree to which an investor or business is using borrowed money. Highly leveraged companies may be at risk of bankruptcy ...
... Whereas the real economic activity always has a major impact on volatility, financial leverages’ impact depends on the state of the economy. To clarify, financial leverage is the degree to which an investor or business is using borrowed money. Highly leveraged companies may be at risk of bankruptcy ...
Are Banks in more Concentrated Markets less
... In the last two decades, rapid consolidation has led to a rise in the degree of market concentration in the banking sector of many developed economies (Group of Ten, 2001; Vives, 2011). As a result, banking markets tend to be dominated by a small number of large banks. In 2007, the combined market s ...
... In the last two decades, rapid consolidation has led to a rise in the degree of market concentration in the banking sector of many developed economies (Group of Ten, 2001; Vives, 2011). As a result, banking markets tend to be dominated by a small number of large banks. In 2007, the combined market s ...
Disappointment Aversion in Asset Allocation
... absolute risk aversion holds and thus risk aversion decreases with wealth, wealthier investors may feel more disappointment for losses. We also find that disappointment aversion increases as expected excess return increases. The results are consistent with the experimental findings of Abdellaoui an ...
... absolute risk aversion holds and thus risk aversion decreases with wealth, wealthier investors may feel more disappointment for losses. We also find that disappointment aversion increases as expected excess return increases. The results are consistent with the experimental findings of Abdellaoui an ...
Colfax CORP (Form: 11-K, Received: 06/19/2015 16:44:14)
... misstatement. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstance ...
... misstatement. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstance ...
Aegon CEE: Executing our strategy
... ventures and associated companies. The reconciliation of these measures, except for market consistent value of new business, to the most comparable IFRS measure is provided in note 3 "Segment information" of Aegon’s condensed consolidated interim financial statements. Market consistent value of new ...
... ventures and associated companies. The reconciliation of these measures, except for market consistent value of new business, to the most comparable IFRS measure is provided in note 3 "Segment information" of Aegon’s condensed consolidated interim financial statements. Market consistent value of new ...
This paper presents a modest contribution to the
... Therefore when C acquires shares, they are bought with the expectation of future returns (based upon future surplus value), or as finance theory would suggest, based on predictions of the future cash flows and profitability of the business. They can be bought and sold many times over as if they were ...
... Therefore when C acquires shares, they are bought with the expectation of future returns (based upon future surplus value), or as finance theory would suggest, based on predictions of the future cash flows and profitability of the business. They can be bought and sold many times over as if they were ...
The role of financial literacy and pensions knowledge on the
... I measure pensions knowledge through answers to ten different questions that assess general knowledge about the pensions system. For instance, one question asks whether the participant knows which percentage of her income is contributed monthly to her individual retirement account. Another question ...
... I measure pensions knowledge through answers to ten different questions that assess general knowledge about the pensions system. For instance, one question asks whether the participant knows which percentage of her income is contributed monthly to her individual retirement account. Another question ...
accounting and market based risk measures as predictors of bank
... distribution of loans to a large number of borrowers who may face problems financing their liabilities, so it is vital that banks continue finance them. Also, a decrease in investments and in asset prices can be observed, because the banking sector will increase interest rates due to systemic risk. ...
... distribution of loans to a large number of borrowers who may face problems financing their liabilities, so it is vital that banks continue finance them. Also, a decrease in investments and in asset prices can be observed, because the banking sector will increase interest rates due to systemic risk. ...
Detail Disagreement - American Economic Association
... In the face of a new discovery, it is natural for investors to disagree not only about its overall effect but also about the details of its implementation. In this paper, we study the implications of investors’ disagreement at the firm level for firm interaction and the diversity of innovation. In p ...
... In the face of a new discovery, it is natural for investors to disagree not only about its overall effect but also about the details of its implementation. In this paper, we study the implications of investors’ disagreement at the firm level for firm interaction and the diversity of innovation. In p ...
CHAPTER 12
... 51% of the voting shares, and therefore can’t control the investee, but can exercise “significant influence” over the operating and financial policies of an investee. It should be presumed, in the absence of evidence to the contrary, that the investor exercises significant influence over the investe ...
... 51% of the voting shares, and therefore can’t control the investee, but can exercise “significant influence” over the operating and financial policies of an investee. It should be presumed, in the absence of evidence to the contrary, that the investor exercises significant influence over the investe ...
The Concept of Systemic Risk
... definitions by Eijffinger (2012) points out that systemic risk, regardless of in which form it materializes, causes a loss in confidence and increased uncertainty about the functioning of the financial system and its parts. The concept of systemic risk lies in the contagion effect and negative impa ...
... definitions by Eijffinger (2012) points out that systemic risk, regardless of in which form it materializes, causes a loss in confidence and increased uncertainty about the functioning of the financial system and its parts. The concept of systemic risk lies in the contagion effect and negative impa ...
Reporting Form SRF 536.0 Repurchase Agreements Instructions
... Repos involve the provision of collateral and an exchange of cash whereas securities lending/borrowing doesn’t necessarily involve cash exchange or collateral. Debt securities purchased under agreements to resell and security borrowing by issuer Item 1 collects information about debt securities purc ...
... Repos involve the provision of collateral and an exchange of cash whereas securities lending/borrowing doesn’t necessarily involve cash exchange or collateral. Debt securities purchased under agreements to resell and security borrowing by issuer Item 1 collects information about debt securities purc ...
The concept of financial analysis
... employ them in the form of liquid investments in the financial and monetary market. Usually investors try to avoid risk in their investments, through the diversification of the components of investment portfolios that they own, even easier for them to also convert a portion of these investments to f ...
... employ them in the form of liquid investments in the financial and monetary market. Usually investors try to avoid risk in their investments, through the diversification of the components of investment portfolios that they own, even easier for them to also convert a portion of these investments to f ...
Download attachment
... market instrument for the financiers on the basis of Ijarah. • The lessor (owner) can sell the leased asset wholly or partly either to one party or to a number of individuals to recover his cost of purchase of the asset with a profit thereon. ...
... market instrument for the financiers on the basis of Ijarah. • The lessor (owner) can sell the leased asset wholly or partly either to one party or to a number of individuals to recover his cost of purchase of the asset with a profit thereon. ...
Speculative Growth, Overreaction, and the Welfare Cost of Technology-Driven Bubbles
... in technology, investment and consumption booms, and faster trend growth, reminiscent of the U.S. economy during the late 1920s and late 1990s. The model can also generate prolonged periods where the price-dividend ratio remains in the vicinity of the rational model value. So long as technology shoc ...
... in technology, investment and consumption booms, and faster trend growth, reminiscent of the U.S. economy during the late 1920s and late 1990s. The model can also generate prolonged periods where the price-dividend ratio remains in the vicinity of the rational model value. So long as technology shoc ...
Sprott Bridging Income Fund LP Overview
... This presentation contains forward-looking statements which reflect the current expectations of management regarding future growth, results of operations, performance and business prospects and opportunities. Wherever possible, words such as “may”, “would”, “could”, “will”, “anticipate”, “believe”, ...
... This presentation contains forward-looking statements which reflect the current expectations of management regarding future growth, results of operations, performance and business prospects and opportunities. Wherever possible, words such as “may”, “would”, “could”, “will”, “anticipate”, “believe”, ...
Annual Report - Pershing Square Capital Management
... investment managers. For many years the industry standard has been a 2% asset-based management fee and a 20% performance fee paid on annual profits. The terms of our IMA with PSCM (a 1.5% management fee and a 16% performance fee) are substantially below this level, and include a variable performance ...
... investment managers. For many years the industry standard has been a 2% asset-based management fee and a 20% performance fee paid on annual profits. The terms of our IMA with PSCM (a 1.5% management fee and a 16% performance fee) are substantially below this level, and include a variable performance ...
Cash Holdings and Firm Value during Latin American Financial Crises
... governance characteristics. Thus, we expect the effects of characteristics such as high profits, sufficient cash substitutes, high dividend payments, and cross listing to have more positive effects on firm value during a crisis than before. The effect of ownership concentration on firm valuation dur ...
... governance characteristics. Thus, we expect the effects of characteristics such as high profits, sufficient cash substitutes, high dividend payments, and cross listing to have more positive effects on firm value during a crisis than before. The effect of ownership concentration on firm valuation dur ...
“The Real Effects of Financial (Dis)Integration: A Spatial Equilibrium
... ○ Loans, deposits, and interbank market activity that are endogenous and heterogeneous at the bank level and within bank across countries. ○ Endogenous interest rates on loans and deposits. ○ Capital requirements modeled following the Basel guidelines. A tightening of the capital requirement endogen ...
... ○ Loans, deposits, and interbank market activity that are endogenous and heterogeneous at the bank level and within bank across countries. ○ Endogenous interest rates on loans and deposits. ○ Capital requirements modeled following the Basel guidelines. A tightening of the capital requirement endogen ...