Default Risk Cannot Explain the Muni Puzzle: Evidence from Municipal Bonds That Are Secured by U S Treasury Obligations ppt
Default Risk Cannot Explain the Muni Puzzle: Evidence from Municipal Bonds That Are Secured by U.S. Treasury Obligations ppt
... default risk and call provisions by selecting a specialized sample of U. S. government secured municipal bonds, I find that the term structure of noncallable default- free municipal bonds is steeper ... 27, 1987. 290 Default Risk Cannot Explain the Muni Puzzle estimates, then it is possible that tests of the differential default risk hypothesis are...
Ngày tải lên: 15/03/2014, 03:20
Interest Rate Risk and Bank Common Stock Returns: Evidence from the Greek Banking Sector pot
... results for the system estimation. 5.2 Systems framework Treating model (8) as a system (across banks) produces nine equations whose parameters are simultaneously estimated by the SURE ... gains that can be exploited by estimating equation (8) as a system (across i&apos ;s) . Thus, the equations in (8) are stacked to form a system of nine equations, which are simult...
Ngày tải lên: 22/03/2014, 17:20
Risk Factors Affecting the Development of Tuberculosis Infection and Disease in Household Contacts of Patients with Pulmonary Tuberculosis pptx
... positive, are the most risky group for tuber- culosis contamination, and are the easiest group to detect tuberculosis. Close follow up of household contacts of such patients for tuberculosis is important ... area or sum of the dispersed infiltrations was more than a lung area. Statistical Analysis Statistical analyses were done using SPSS version 12 (SPSS Inc, Chicago, IL). Chi-squ...
Ngày tải lên: 29/03/2014, 03:20
The Value of Comprehensive Credit Reports: Lessons from the U.S. Experience Summary pptx
... rates for all customers. Consequently, tiered pricing reduces the amount by which low -risk customers subsidize the costs of serving high -risk customers. For the card issuer, the economic success ... report (inquiries) for at least 2 years, and to disclose the names and addresses of recipients of reports upon request from the consumer. Disclosure to the consumer also aids...
Ngày tải lên: 29/03/2014, 07:20
Báo cáo khoa học: The domains carrying the opposing activities in adenylyltransferase are separated by a central regulatory domain ppt
... extracts, or crude lysates where solubility was an issue. The proteins used in the assays were also purified follow- ing methods described previously: AT from pRJ009 in JM109 [10], UT from pNV101 ... (loop). The solubility of the constructs is shown in parentheses: Soluble (S) , partly soluble (PS), insoluble (IS), thermal induction at 37 °C (– T), and isopropyl thio-b- D-galactosi...
Ngày tải lên: 30/03/2014, 08:20
The relationship between default risk and interest rates: An empirical study research insight
... equity is a perpetual option with the default point acting as the absorbing barrier for the firm&apos ;s asset value. When the asset value hits the default point, the firm is assumed to default. The ... previous studies. First, they argue the structural model of credit risk could imply either positive or negative relationship with interest rates depending on the as...
Ngày tải lên: 26/10/2012, 11:21
Credit-risk valuation in the sovereign CDS and bonds markets: Evidence from the euro area crisis ppt
... intersection of several sub-hypotheses. To maximise the power of the test, instead of testing whether the previous hypotheses are simultaneously satisfied, we redefine the null hypothesis as the ... the sovereign CDS and bonds markets: Evidence from the euro area crisis Credit -risk valuation in the sovereign CDS and bonds markets: Evidence from the euro area...
Ngày tải lên: 15/03/2014, 07:20
Working PaPer SerieS no 1272 / DeCeMBer 2010: THe iMPaCT of PuBliC guaranTeeS on Bank riSk Taking eviDenCe froM a naTural exPeriMenT pptx
... banks. The savings bank data is also from the German Savings Banks Association. By using this proprietary data set, the sample size is much larger than by using public sources. In order to ensure ... financing source are customer deposits, which they transform into loans to households and small and medium sized enter- prises. 7 Savings banks are owned by the local governmen...
Ngày tải lên: 15/03/2014, 10:20
Bank Funding Structures and Risk: Evidence from the Global Financial Crisis pptx
... skewness and excess kurtosis, with normality tests rejecting the null in all cases. Comparing across subsamples, the most striking result is the evidence of substantially lower EQUITY in the ... more susceptible to solvency risk due to excessive leverage. The results support the proposed Basel III regulations on structural liquidity and leverage, but suggest that emphasis...
Ngày tải lên: 22/03/2014, 21:20