Microfinance and poverty Thorsten Beck Executive summary: While
... scarce capital across the economy, this can have an impact on the structure of economy. While there is no firm evidence that direct access to credit is always welfare improving for its recipients, there is some tentative evidence that financial deepening can reduce income inequality and poverty alle ...
... scarce capital across the economy, this can have an impact on the structure of economy. While there is no firm evidence that direct access to credit is always welfare improving for its recipients, there is some tentative evidence that financial deepening can reduce income inequality and poverty alle ...
The Performance of Stock and the Indicators
... financial ratios been used as the main tool to produce data of dependent and independent variables. The research been conducted on licensed Islamic Banks in Malaysia as listed by Bank Negara Malaysia and focus on three independent variables of profitability, efficiency and liquidity and to see their ...
... financial ratios been used as the main tool to produce data of dependent and independent variables. The research been conducted on licensed Islamic Banks in Malaysia as listed by Bank Negara Malaysia and focus on three independent variables of profitability, efficiency and liquidity and to see their ...
cost of capital
... These amounts really represent targets. In practice, it wouldn’t make sense to incur the fixed costs of selling new common stock if you only needed $20,000 so you would probably just issue additional debt. At some point in the future, you will adjust back the other way as you issue more equity and l ...
... These amounts really represent targets. In practice, it wouldn’t make sense to incur the fixed costs of selling new common stock if you only needed $20,000 so you would probably just issue additional debt. At some point in the future, you will adjust back the other way as you issue more equity and l ...
slides - Andrei Simonov
... 3.13% would have been sufficient for $5.1 billion of competitive bids. 3.14% is sufficient for $8.3 billion. All bidders offering to accept a rate lower than 3.14% are accepted. Only $1.9 billion of $3.2 billion bid at 3.14% is needed, so competitive bidders at this rate receive 1.9/3.2 = 59 ...
... 3.13% would have been sufficient for $5.1 billion of competitive bids. 3.14% is sufficient for $8.3 billion. All bidders offering to accept a rate lower than 3.14% are accepted. Only $1.9 billion of $3.2 billion bid at 3.14% is needed, so competitive bidders at this rate receive 1.9/3.2 = 59 ...
Political Cycles and Stock Returns
... the incumbent Republican George W. Bush was succeeded by Democrat Barack Obama. In both cases, elections took place in an atmosphere full of fear and turbulence, after big capital losses, when people are likely to be more risk-averse than usual.2 We can also examine other predictions of the model. A ...
... the incumbent Republican George W. Bush was succeeded by Democrat Barack Obama. In both cases, elections took place in an atmosphere full of fear and turbulence, after big capital losses, when people are likely to be more risk-averse than usual.2 We can also examine other predictions of the model. A ...
Foreign Currency Derivatives
... • Last trading day – contracts may be traded through the second business day prior to maturity date • Collateral & maintenance margins – the purchaser or trader must deposit an initial margin or collateral; this requirement is similar to a performance bond – At the end of each trading day, the accou ...
... • Last trading day – contracts may be traded through the second business day prior to maturity date • Collateral & maintenance margins – the purchaser or trader must deposit an initial margin or collateral; this requirement is similar to a performance bond – At the end of each trading day, the accou ...
Market Abuse and the complexity of monitoring across asset classes
... Key messages: Our overall finding was that firms had put in place some practices and procedures to control the risk of market abuse. However, these are only comprehensive in a small number of firms. In many firms further work is required to ensure these operate effectively and cover all material ris ...
... Key messages: Our overall finding was that firms had put in place some practices and procedures to control the risk of market abuse. However, these are only comprehensive in a small number of firms. In many firms further work is required to ensure these operate effectively and cover all material ris ...
Financial markets, specialization, and learning by doing
... is consistent with an equilibrium. For some economies there will be either an equilibrium with financial markets and specialization, or an equilibrium without these features, but both types of equilibria will not exist. However, it is possible to construct economies in which both types of equilibria ...
... is consistent with an equilibrium. For some economies there will be either an equilibrium with financial markets and specialization, or an equilibrium without these features, but both types of equilibria will not exist. However, it is possible to construct economies in which both types of equilibria ...
ESTIMATION OF VALUE AT RISK: EXTREME VALUE AND
... ever, traditional value-at-risk models based on the assumption of iid-ness and normality are not able to capture the extremes in emerging markets, where high volatility and the nonlinear behavior of returns are observed. This fact has led to various alternative strategies for VaR prediction. Extreme ...
... ever, traditional value-at-risk models based on the assumption of iid-ness and normality are not able to capture the extremes in emerging markets, where high volatility and the nonlinear behavior of returns are observed. This fact has led to various alternative strategies for VaR prediction. Extreme ...
taxes on products
... • Up to the present, NBS has never published any level data of GDP at constant prices by production approach. By the end of 2006, some of the constant data might be released when the 2004 Economic Census data and the revised time series are published. But no specific information on what and how. • U ...
... • Up to the present, NBS has never published any level data of GDP at constant prices by production approach. By the end of 2006, some of the constant data might be released when the 2004 Economic Census data and the revised time series are published. But no specific information on what and how. • U ...
Deepening diversification in trust portfolios
... listed within HFR Database. Macro investment managers trade a broad range of strategies in which the investment process is p redicated on movements in underlying economic variables and the impact these have on equity, fixed-income, hard currency, and commodity markets. Managers employ a variety of ...
... listed within HFR Database. Macro investment managers trade a broad range of strategies in which the investment process is p redicated on movements in underlying economic variables and the impact these have on equity, fixed-income, hard currency, and commodity markets. Managers employ a variety of ...
the investment position of the major players in the ukrainian`s grain
... economic studies show that almost impossible to predict when stock markets will rise or fall. Therefore, if we want to avoid future crises, we need to think about how to anticipate the risks and how to improve incentives for people to not neglect these risks. Conducted J. Stiglitz [3] analysis of t ...
... economic studies show that almost impossible to predict when stock markets will rise or fall. Therefore, if we want to avoid future crises, we need to think about how to anticipate the risks and how to improve incentives for people to not neglect these risks. Conducted J. Stiglitz [3] analysis of t ...
this resource
... CR4: Credit institutions should have adequate arrangements in place for actively monitoring, managing and mitigating concentration risk against agreed policies and limits, thresholds or similar concepts. Monitoring should be incorporated into the institution's usual risk management and reporting sy ...
... CR4: Credit institutions should have adequate arrangements in place for actively monitoring, managing and mitigating concentration risk against agreed policies and limits, thresholds or similar concepts. Monitoring should be incorporated into the institution's usual risk management and reporting sy ...
Level 3 National Standards - Youth Educational Programs
... Standard 13: Role of Resources in Determining Income Income for most people is determined by the market value of the productive resources they sell. What workers earn depends, primarily, on the market value of what they produce and how productive they are. Standard 16: Role of Government There is an ...
... Standard 13: Role of Resources in Determining Income Income for most people is determined by the market value of the productive resources they sell. What workers earn depends, primarily, on the market value of what they produce and how productive they are. Standard 16: Role of Government There is an ...
The Variability of IPO Initial Returns
... given the characteristics of the offering, suggests that there are important aspects of uncertainty about the valuation of IPOs that are simply hard to predict – Suggests alternative methods for selling IPOs are worth considering – e.g., IPO auctions . . . ...
... given the characteristics of the offering, suggests that there are important aspects of uncertainty about the valuation of IPOs that are simply hard to predict – Suggests alternative methods for selling IPOs are worth considering – e.g., IPO auctions . . . ...
House Prices, Expectations, and Time
... Case and Shiller (2004) make the point that “the mere fact of rapid price increases is not in itself conclusive evidence of a bubble. . . .The notion of a bubble is really defined in terms of people’s thinking about future price increases.” Survey evidence on people’s expectations about future house ...
... Case and Shiller (2004) make the point that “the mere fact of rapid price increases is not in itself conclusive evidence of a bubble. . . .The notion of a bubble is really defined in terms of people’s thinking about future price increases.” Survey evidence on people’s expectations about future house ...
Information for investors
... liquidity risk is associated to the possibility of changes in the difference between the value of market offers for purchase and for sale (the bid-ask spread), as well as the fact that there is no bid-ask quotation for the appropriate volume of transactions at any moment (or period). Therefore, the ...
... liquidity risk is associated to the possibility of changes in the difference between the value of market offers for purchase and for sale (the bid-ask spread), as well as the fact that there is no bid-ask quotation for the appropriate volume of transactions at any moment (or period). Therefore, the ...
The systematic analysts` forecast errors are predictable
... Analysts are too optimistic before recessions start and too pessimistic before recessions end From the fact that analysts’ forecast errors are predictable, analysts do not fully take into account of macro variables (market return, volatility, term spread, and default spread) in their prediction proc ...
... Analysts are too optimistic before recessions start and too pessimistic before recessions end From the fact that analysts’ forecast errors are predictable, analysts do not fully take into account of macro variables (market return, volatility, term spread, and default spread) in their prediction proc ...
19 - Commercial Real Estate Analysis and Investment
... Thus, banks (depository institutions) seek short term assets (e.g., construction loans, consumer debt, S.T. business loans, lines of credit, comm.paper, etc.), or: • Assets that behave like S.T. assets regarding interest-rate risk (e.g., ARMs, long-term loans with adjustable rates such that ΔPV/ΔYT ...
... Thus, banks (depository institutions) seek short term assets (e.g., construction loans, consumer debt, S.T. business loans, lines of credit, comm.paper, etc.), or: • Assets that behave like S.T. assets regarding interest-rate risk (e.g., ARMs, long-term loans with adjustable rates such that ΔPV/ΔYT ...