... which are seen as a form of market imperfection. Themainstream theoryof the firm evolved under the paradigm of the agency theory and the transaction costs theory as a theoryof economic organizationrather ... amendment of the existing theoryof financial intermediation.The structure of this paper is as follows. First, we introduce the foundations of the modern literature of financial intermediation theory. ... review the doctrines of the theoryof financial intermediation.2Theseare specifications, relevant to the financial services industry, of the agency theory, and the theoryof imperfect or asymmetric...
... efficiently, the reputationalcapital of an agent must equal the present value of the stream of future profits, or franchise value, of her business.The concept of reputational capital is meaningful ... Structural implications of CTFCircuit theoryof finance (CTF) bears important implications in terms of financial marketstructure, microeconomic imbalances, and the role of saving for economic ... on the basis of verifiable and tested information. Information providers might be eitherprofit or non-profit outfits.Providers of customized information might operate for a profit and sell...
... domain, X(f )issimplyacopyofthespectrum˜X(f) shifted to a center frequency of f =+fcand a mirror copy of ˜X(f)shiftedto a center frequency of f = −fc.The operation of modulation can be defined ... coherence if the magnitude of the carrier wave does notchange over a spatial displacement of the receiver. Once again, we express the condition of spatial coherence in terms of the static narrowband ... The theory is applicable to any type of wireless data transmission, regardless of bandwidth, carrier frequency, or environment of operation.The final chapters of the dissertation deal with applied...
... behavior of the number of multiplications is also quadratic.Convolution algebras are derived from algebras of polynomials. Given a polynomial P (u) of degree D, one can define an algebra of dimension ... IntroductionComplexity theoryof computation attempts to determine how “inherently” difficult are certaintasks. For example, how inherently complex is the task of computing an inner product of twovectors of length ... original proof); the reference I like best is Adrian Albert’s book [1]. Thetheorem asserts that the tensor product of fields is isomorphic to a direct sum of fields, and theproof of the theorem...
... number of collisions per particle (a measure of time), given byτ ≡t0T1/2(t)dt.The use of this measure of time renders the equations of motion linear.The three eigenvalues of this ... of the linearised Boltzmann equation, at each order in theexpansion. Since the solution of equations of the type of Eq. (12.22) is determinedup to the addition of an arbitrary combination of ... shearedsystem is of a much higher granular temperature than that expected on the basis of steady-state solutions of the corresponding hydrodynamic equations. In this case the208 Theoryof rapid granular...
... into a theoryof inventive problem solving which he named TRIZ.3.0 TRIZ: The Theoryof Inventive Problem SolvingThere are a number of laws in the theoryof TRIZ. One of them is the Law of Increasing ... Xerox Corporation 7.0 TRIZ SoftwareBecause TRIZ is built on a database of hundreds of thousands of patents, principles, operators, contradictions, etc. use of software helps engineers with ... nonmoving object 3. Length of moving object 4. Length of nonmoving object 5. Area of moving object 6. Area of nonmoving object 7. Volume of moving object 8. Volume of nonmoving object 9. Speed...
... EFFICIENCY OF CAPITAL 12. THE STATE OF LONG-TERM EXPECTATION 13. THE GENERAL THEORYOF THE RATE OF INTEREST 14. THE CLASSICAL THEORYOF THE RATE OF INTEREST o APPENDIX ON THE RATE OF INTEREST ... advantages of private and national thrift, the traditional attitude towards the rate of interest, the classical theoryof unemployment, the quantity theoryof money, the unqualified advantages of laissez-faire ... and of the trade cycle. Another feature, especially characteristic of this book, is the theoryof the rate of interest. In recent times it has been held by many economists that the rate of current...
... Canada Inc.7- 18Rationale Behind the Theory ↑⇒↓⇒<↓⇒↑⇒> of t of oft *of R PR* RR P RRuntil R of = R*In an efficient market all unexploited profit opportunities will be eliminated ... securitytt1tPCPPR+−=+R = the rate of return on the securityPt+1 = price of the security at time t+1, the end of the holding periodPt = price of the security at time t, the beginning of the holding periodC ... 2011 Pearson Canada Inc.7- 13Formal Statement of the Theory Xe = X of Xe = expectation of the variable that is being forecastX of = optimal forecast using all available information...
... average"One of the keys of the kinetic-molecular model is to relate pressureto collisions of molecules with any wall:4/22/2008 4§1. Kinetic–molecular model of an ideal gas:1.1 Equations of state of ... principle of equipartition of energy we have, in average,for each of degree of freedom:kTFor three orthogonal directions there are six degree of freedom4/22/2008 81.2 Kinetic-molecular model of ... number of molecules having velocitiesin the “volume” element is(N: the total number of molecules of the whole system)The number of molecules with speeds between v and v + Δv is thenumber of loints...