risk aversion and international portfolio diversification

... FX and Equity ˆ1 FX and Bond ˆ Equity and Bond ˆ1 Test of ‘no diversification gains’ L Australia Austria Belgium Switzerland Canada Denmark Finland France Germany Ireland Italy Japan Netherlands ... is formed by stocks and bonds of Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, New Zealand, Norway, Spain, Sweden and US Portfolio C is formed by stocks and bonds of Austria, ... Belgium Switzerland Canada Denmark Finland France Germany Ireland Italy Japan Netherlands New Zealand Norway Spain Sweden UK 30 ECB Working Paper Series No 883 March 2008 FX and bond returns...

Ngày tải lên: 16/02/2014, 02:20

... participants across the uncertainty metrics and domains (risk gains: 10 OA and 10 YA; risk losses: OA and YA; ambiguity gains: 14 OA and 23 YA; and ambiguity losses: OA and YA) Importantly, there were no ... aging alters risk and ambiguity preferences, we contrasted our YA and OA samples, with comparisons listed in Table and shown in Figure Within the gains domain, YA and OA were similarly risk averse ... the classic pattern of being risk averse for gains and risk seeking for losses (Kahneman and Tversky, 1979) Contrastingly, OA were risk averse across both the gains and losses domains Given that...

Ngày tải lên: 22/09/2015, 15:18

... Riccardo Rebonato Risk Management and Analysis vol 1: Measuring and Modelling Financial Risk Carol Alexander (ed) Risk Management and Analysis vol 2: New Markets and Products Carol Alexander (ed) Interest-Rate ... Finance Using Excel and VBA Operational Risk: Measurement and Modelling Harry Kat Mary Jackson and Mike Staunton Jack King Advance Credit Risk Analysis: Financial Approaches and Mathematical Models ... Assess, Price and Manage Credit Risk Didier Cossin and Hugues Pirotte Interest Rate Modelling Jessica James and Nick Webber Volatility and Correlation in the Pricing of Equity, FX and Interest-Rate...

Ngày tải lên: 29/03/2014, 13:20

... diversified portfolio - 30 What is the relationship between standalone, market, and diversifiable risk σ2 j = b2 σ + σ e2 j M j σ = variance j = stand-alone risk of Stock j b2 σ = market risk of ... Portfolios with Risk- Free Asset (Expected risk- free return = 5%) Attainable Set of Risk/ Return Combinations with Risk- Free Asset Expected return 15% 10% 5% 0% 0% 5% 10% Risk, σp 15% 20% Expected Portfolio ... Feasible Set Feasible and Efficient Portfolios Risk, σ p - 10 The feasible set of portfolios represents all portfolios that can be constructed from a given set of stocks An efficient portfolio is one...

Ngày tải lên: 06/04/2015, 19:41

... function, and cardiovascular risk New England Journal of Medicine 2003; 348: 593-600 43 Vasa M, Fichtlscherer S, Aicher A, Adler K, Urbich C, Martin H, Zeiher AM, Dimmeler S Number and migratory ... weight adults, and the colony-forming capacity of these cells is blunted [17, 18] Alterations in endothelial cells and EPC function associated with obesity precede atherosclerosis and thrombosis ... atherosclerosis and thrombosis [19-21] Moreover, EPCs expanded from the obese subjects possessed reduced adhesive, migratory, and angiogenic capacity [22] and fail to respond to vascular endothelial growth...

Ngày tải lên: 25/10/2012, 10:51

Ngày tải lên: 07/11/2012, 14:17

... STRUCTURE AND SOME MAJOR LINGUISTIC FEATURES OF THE INTERNATIONAL DECLARATION ON HUMAN RIGHTS 3.1 Definition of an International Declaration 10 3.2 Purposes and typical legal characteristics of the International ... IN COMPARISON WITH THOSE OF THE INTERNATIONAL DECLARATION 4.1 Definition of an International Convention 4.2 20 Purposes and typical legal characteristics of the International Convention on Human ... V Conclusion − Some notes oN THE similarities and differences between international Declarations and Conventions in terms of discourse structures and major linguistic features 5.1 32 a, Type of...

Ngày tải lên: 07/11/2012, 14:17

... of Cause, Purpose, Condition and Otherwise, Interpretation and Evaluation, Restatement and Summary, and lastly Sequence and Contrast The types of relation between N and S not completely follow ... similarities and differences between international Declarations and Conventions 32 in terms of discourse structures and major linguistic features International Declarations and International Conventions ... on International Declarations and International Conventions on human rights in terms of discourse structure and some major linguistic features and make a comparison between these two types of international...

Ngày tải lên: 07/11/2012, 14:17

... security and is entitled to realization, through national effort and international co-operation and in accordance with the organization and resources of each State, of the economic, social and cultural ... right to a standard of living adequate for the health and well-being of himself and of his family, including food, clothing, housing and medical care and necessary social services, and the right ... Civil and Political Rights (in particular in articles 23 and 24), in the International Covenant on Economic, Social and Cultural Rights (in particular in article 10) and in the statutes and relevant...

Ngày tải lên: 07/11/2012, 14:17

... Chart 1: Trends of domestic and international market According to chart 1, we can easily recognize the change and general trends of Binh Minh Company’s sale in domestic and international market from ... domestic and international markets of quarterly sales (in VND millions) of Binh Minh Company during period 2003-2006, we can reflect data by following graphs: 3.1 Trend of domestic and international ... the other hand, the number of Indian and Germanic students is not big and in general most of them expect level of salary is medium (over 30,000 -80, 000 USD/year) 2.2.2 Cross tables and charts...

Ngày tải lên: 19/07/2013, 09:49

... lEC 61508 and a similar safety life cycle model will be used Hazards and risk reduction 2.1 Introduction In this chapter we are going to build up an understanding of hazards and risk and look ... Introduction to hazards and risks The first part of the book is all about the identification of hazards and the reduction of the risks they present What is a hazard and what is a risk? A hazard is ... lEC standard for exact wording SLC phase no and name Concept Overall scope definitions Hazard and risk analysis Objectives Scope Inputs Outputs To develop a level of understanding of the EDO and...

Ngày tải lên: 02/01/2014, 09:47

... application and operation of best available technology and results of research and development; (c) Emission and monitoring data; (d) Measures taken and planned to be taken to prevent, control and reduce ... advances and changes in scientific knowledge and understanding; (c) The economic feasibility of such technology; (d) Time limits for installation in both new and existing plants; (e) The nature and ... information and education to the public and to users about the environmental consequences of the choice of particular activities and products, their use and ultimate disposal; (b) The development and...

Ngày tải lên: 18/02/2014, 04:20

... credit risk managers Moreover, liquidity risk and its potential interaction with other risks should be included in the risks addressed by risk management committees and/ or independent risk management ... on funding liquidity risk Funding liquidity risk is the risk that the firm will not be able to meet efficiently both expected and unexpected current and future cash flow and collateral needs ... benefits and risks to all significant business activities; • the identification and measurement of the full range of liquidity risks, including contingent liquidity risks; • the design and use...

Ngày tải lên: 21/02/2014, 11:20

... namely risk assessment, risk management and risk communication That consultation recognised risk communication as an interactive process of exchange of information and opinion on risk among risk ... separation of risk management and risk assessment serves to ensure the scientific integrity of the risk assessment process and reduce any conflict of interest between risk assessment and risk management ... pose significant risk and have a high profile internationally There is a need to reduce the risk to the minimum which is technically feasible and practical International standards and guidelines...

Ngày tải lên: 21/02/2014, 12:20

... hygiene and toilet facilities, and unsafe food preparation and handling practices are all associated with transmission Following the cyclone and flooding, an immediate risk of waterborne and foodborne ... Health and Development (CAH), Immunizations, Vaccines and Biologicals (IVB) in the Family and Community Health (FCH) cluster; Injuries and Violence Prevention (VIP) and Nutrition for Health and ... Epidemic and Pandemic Alert and Response (EPR), the Special Programme for Research and Training in Tropical Diseases (TDR), Food Safety, Zoonoses and Foodborne Diseases (FOS), Public Health and Environment...

Ngày tải lên: 05/03/2014, 12:20

... Monetary and Economic Department of the Bank for International Settlements, and from time to time by other economists, and are published by the Bank The papers are on subjects of topical interest and ... and conference participants for useful comments and discussion and Bilyana Bogdanova, Pablo Garcia, Jimmy Shek and Jhuvesh Sobrun for research assistance Authors are members of the Monetary and ... system International credit thus raises both monetary and financial stability issues International credit, defined here as foreign currency and cross-border credit, can pose particular risks to...

Ngày tải lên: 06/03/2014, 04:21

... Default and Liquidity Risk The Supervisory Approach: A Critique Depreciation Bias, Financial-Sector Fragility and Currency Risk The New Basel Accord and Developing Countries: Problems and Alternatives ... of a Realistic Banking System Within a Post-Keynesian Stock-flow Consistent Model Credit -Risk Transfer and Financial Sector Performance Please address enquiries about the series to: The Administrator ... Securities Regulator? Empirical Modeeling of Contagion: A Review of Methodologies October 2003 International Financial Contagion: What Do We Know? 10 November 2003 11 November 2003 12 February...

Ngày tải lên: 06/03/2014, 08:20

... credit risk managers Moreover, liquidity risk and its potential interaction with other risks should be included in the risks addressed by risk management committees and/ or independent risk management ... on funding liquidity risk Funding liquidity risk is the risk that the firm will not be able to meet efficiently both expected and unexpected current and future cash flow and collateral needs ... benefits and risks to all significant business activities; • the identification and measurement of the full range of liquidity risks, including contingent liquidity risks; • the design and use...

Ngày tải lên: 06/03/2014, 09:20

... law, both nationally and internationally 1.2 Self-defense in Islamic and International Law This book makes a comparative analysis of the right to self-defense in Islamic and international law in ... in Islamic and international law : assessing Al-Qaeda and the invasion of Iraq / by Niaz A Shah p cm Includes bibliographical references and index ISBN 0-230-60618-0 Self-defense (International ... in Europe and elsewhere appear as suspects, causing embarrassment at airports, train stations, random police stops and searches, and so on Despite the presence of critics of terrorism and of the...

Ngày tải lên: 07/03/2014, 11:20

... trajectories that international law might now follow The Iraq War and International Law Edited by PHIL SHINER AND ANDREW WILLIAMS OXFORD AND PORTLAND, OREGON 2008 Published in North America (US and Canada) ... Practice often suggested ambiguity and ambivalence in this respect So, for instance, pathetic vacillation and handwringing over the massacres and violence in Rwanda and the former Yugoslavia were ... the role and applicability of international law became the focus of comment and indeed resistance Whether the war was legal or not was the basis for heated and protracted political and social...

Ngày tải lên: 07/03/2014, 11:20