Free Bird
... continuous demand for the English language amongst our niche Japanese market showing an increase of 11% in the overall student numbers compared to 2015. Like all other businesses in the Western Division, the year started off as a recovery period for us after the devastating TC Winston left a trail o ...
... continuous demand for the English language amongst our niche Japanese market showing an increase of 11% in the overall student numbers compared to 2015. Like all other businesses in the Western Division, the year started off as a recovery period for us after the devastating TC Winston left a trail o ...
Liberalization, Growth, and Financial Crises
... experienced boom-bust cycles. We argue that liberalization leads to faster growth because it eases financial constraints, but that this occurs only if agents take on credit risk, which makes the economy fragile and prone to crisis. An implication of our analysis is that the international bank flows ...
... experienced boom-bust cycles. We argue that liberalization leads to faster growth because it eases financial constraints, but that this occurs only if agents take on credit risk, which makes the economy fragile and prone to crisis. An implication of our analysis is that the international bank flows ...
INVESTMENT-CASH FLOW SENSITIVITY IN SMALL AND MEDIUM
... required there is a hierarchy in the use of funds, which is based on information asymmetry. Whenever possible, funding a firm should be covered by internally generated funds, which are not affected by adverse selection problems. If these were not enough, debt would be the next option, with stock iss ...
... required there is a hierarchy in the use of funds, which is based on information asymmetry. Whenever possible, funding a firm should be covered by internally generated funds, which are not affected by adverse selection problems. If these were not enough, debt would be the next option, with stock iss ...
IAT FED
... Banks may reduce their fixed rate loans exposure, and pass to their clients more variable rate exposure (e.g. mortgage loans, investment loans) ...
... Banks may reduce their fixed rate loans exposure, and pass to their clients more variable rate exposure (e.g. mortgage loans, investment loans) ...
The real impacts of financial constraints. An investigation using
... top fraction of firms ranked by the index are defined to be constrained and the bottom fraction are unconstrained.2 (Kaplan and Zingales 1997) One of the advantages of the KZ-index is the fact that it takes into account cash flow sensitivity. Cash flows has been proven, and is accepted by many rese ...
... top fraction of firms ranked by the index are defined to be constrained and the bottom fraction are unconstrained.2 (Kaplan and Zingales 1997) One of the advantages of the KZ-index is the fact that it takes into account cash flow sensitivity. Cash flows has been proven, and is accepted by many rese ...
Intermediary Asset Pricing
... households pull out of mutual funds because they have delivered low past returns, and mutual funds in turn are forced to liquidate their asset holdings (as in Shleifer and Vishny, 1997). In both cases, the key dynamic of the model is that low specialist wealth states lead households to withdraw fun ...
... households pull out of mutual funds because they have delivered low past returns, and mutual funds in turn are forced to liquidate their asset holdings (as in Shleifer and Vishny, 1997). In both cases, the key dynamic of the model is that low specialist wealth states lead households to withdraw fun ...
Economics of Money, Banking, and Financial Markets, 8e
... A) investing in a diversified collection of assets. B) providing depositors with a variety of savings certificates. C) spreading the cost of borrowed funds over many customers. D) spreading the cost of writing a standardized contract over many borrowers. Answer: D Ques Status: Revised ...
... A) investing in a diversified collection of assets. B) providing depositors with a variety of savings certificates. C) spreading the cost of borrowed funds over many customers. D) spreading the cost of writing a standardized contract over many borrowers. Answer: D Ques Status: Revised ...
Financing the Future: Report of the Italian National
... finance’. Green finance aims not only to guarantee finance for needed environmental projects but also to make more sustainable all finance (“greener finance”). The dialogue clearly demonstrated that a shift is already under way both domestically and globally. There is growing recognition that ESG fa ...
... finance’. Green finance aims not only to guarantee finance for needed environmental projects but also to make more sustainable all finance (“greener finance”). The dialogue clearly demonstrated that a shift is already under way both domestically and globally. There is growing recognition that ESG fa ...
Fair Value Accounting and Measures of U.S. Corporate Profits for
... holding gains and losses reflect changes in prices but do not arise from production. Thus, where U.S. production and income statistics rely on data sourced from financial accounting records, adjustments are required to remove holding gains and losses attributable to FVA practices. Given the size of ...
... holding gains and losses reflect changes in prices but do not arise from production. Thus, where U.S. production and income statistics rely on data sourced from financial accounting records, adjustments are required to remove holding gains and losses attributable to FVA practices. Given the size of ...
Market Segmentation, Information Asymmetry
... of individual investors while price reactions reflect changes in the expectations of the market as a whole. In this study we hypothesise that both price adjustments and volume reactions around earnings announcements will differ across the A- and B-markets. Both the domestic investors in A-markets an ...
... of individual investors while price reactions reflect changes in the expectations of the market as a whole. In this study we hypothesise that both price adjustments and volume reactions around earnings announcements will differ across the A- and B-markets. Both the domestic investors in A-markets an ...
International diversification of investment portfolios
... assume that the monthly risk-free rate is zero. It is also assumed that investors can take short positions and use the short sale proceeds. Table II presents the compositions of optimal international portfolios. The optimal portfolios for U.S. investors ( or dollar-based investors) are examined fir ...
... assume that the monthly risk-free rate is zero. It is also assumed that investors can take short positions and use the short sale proceeds. Table II presents the compositions of optimal international portfolios. The optimal portfolios for U.S. investors ( or dollar-based investors) are examined fir ...
Policy Space to Prevent and Mitigate Financial Crises in - G-24
... 1. Fear of appreciation: capital inflows cause upward pressure on the value of the domestic currency, making domestic producers less competitive in the international market, hurting exports and therefore the economy. 2. Fear of “hot money”: the large injection of money into a small economy may ...
... 1. Fear of appreciation: capital inflows cause upward pressure on the value of the domestic currency, making domestic producers less competitive in the international market, hurting exports and therefore the economy. 2. Fear of “hot money”: the large injection of money into a small economy may ...
Ending "Too Big To Fail"
... “Too big to fail” is far from a new issue, as discussed in detail by Stern and Feldman (2004)―in the modern American context, it dates from at least the conservatorship of Continental Illinois in the 1980s. Concerns about this issue have become more intense since fall 2008. The status of “too big to ...
... “Too big to fail” is far from a new issue, as discussed in detail by Stern and Feldman (2004)―in the modern American context, it dates from at least the conservatorship of Continental Illinois in the 1980s. Concerns about this issue have become more intense since fall 2008. The status of “too big to ...
Financial Market Imperfections and the Pricing Decision of Firms
... constrained may affect the pricing decision of a firm: firms with initially low prices that sell large quantities may not be able to finance their production inputs and may therefore find it optimal to scale down production and adjust prices up. On the other hand, firms seeking to gain market share ...
... constrained may affect the pricing decision of a firm: firms with initially low prices that sell large quantities may not be able to finance their production inputs and may therefore find it optimal to scale down production and adjust prices up. On the other hand, firms seeking to gain market share ...
Durability, Re-trading and Market Performance
... exchange, although cash enters as a numeraire qua reward incentive for subjects. Markets with these features that are repeated over time converge rapidly to the predicted equilibrium under a regime of strict private dispersed information on individual values that define the equilibrium predictions. ...
... exchange, although cash enters as a numeraire qua reward incentive for subjects. Markets with these features that are repeated over time converge rapidly to the predicted equilibrium under a regime of strict private dispersed information on individual values that define the equilibrium predictions. ...
British Airways Plc Year ended 31 December 2015
... increasing the number of seats offered to Europe by 30 per cent. Additional flights are also being added to the Isle of Man for next summer. We listened to customer feedback and provided significantly more opportunities for our customers to book reward flights. In 2015 we guaranteed we would offer n ...
... increasing the number of seats offered to Europe by 30 per cent. Additional flights are also being added to the Isle of Man for next summer. We listened to customer feedback and provided significantly more opportunities for our customers to book reward flights. In 2015 we guaranteed we would offer n ...
Problems of Using Technical and Fractal Analysis on FOREX
... demonstrates the connection between technical and fundamental analysis. Synergetic approach in technical analysis is the alternative understanding of market process. It reverses the perception of market fluctuation, explains technical analysis principals and gives new methods for traders. Author (in ...
... demonstrates the connection between technical and fundamental analysis. Synergetic approach in technical analysis is the alternative understanding of market process. It reverses the perception of market fluctuation, explains technical analysis principals and gives new methods for traders. Author (in ...
