risk based explanations of the equity premium

... there is an increasing adoption of © 2010 by Taylor and Francis Group, LLC Risk-Based Supervision of Pension Funds in the Netherlands ◾ 475 risk-based supervision As an example of such risk-based ... interest rate risks, in part due to the assumed independence from all other risk categories 19.4.1.7 Other Risk Categories The liquidity risk, the concentration risk, and the operational risk are ... idiosyncratic risks, the 0% calibration of risk categories like concentration risk and the independence of risk categories (apart from the correlation of 0.5 between interest rate risks on the one

Ngày tải lên: 28/08/2019, 08:50

... obvious 122 The Equity Premium Puzzle The Interpretation of the Equity Premium Puzzle In this section, we will discuss how to explain the equity premium puzzle by the existence of the spirit of capitalism ... than the original The results posed here imply that, because of the existence of the spirit of capitalism, the gap of the return rate on risky assets and risk-free assets will 126 The Equity Premium ... century, they found that the return rate of stocks is 7.9%, and the return rate of the corresponding risk-free securities is only 1%, the premium is 6.9% Furthermore, an analysis of the data for the

Ngày tải lên: 01/02/2020, 22:12

... exploration of the limitations in the use of crisis theories in plural form as a sequential or heterodox critique of other theories of crisis Both the singular and plural ways of using theory fail ... critique of theories of financial crisis In particular, the book provides a new illustration of the relevance of Minsky’s theory of liquidity crisis as “immanent” to modern finance and the crisis of ... Hypothesis (FIH) to the financial crisis of 2007–08 Key to this project is exploring the “historicity” of Minsky’s work asking the question of whether his theory can be applied outside of the

Ngày tải lên: 07/03/2018, 11:39

... Mainstream Explanations of the Financial Crisis This book provides a critique of the neoclassical explanations of the 2008 financial collapse, of the ensuing long recession and of the neoliberal ... prematurity of some of those efforts, including perhaps that of the First International; the corruption and/ or ideological bankruptcy of the leadership of the working class; the successful promotion of ... recognition of the laws of capitalist development, of the laws of the accumulation of capital as “self-­ expanding value” that is blind to physical or geographical borders The need and the call

Ngày tải lên: 29/03/2018, 13:38

... existence, it was but a shadow of the world of the Ideas The same applies to the existence of the ordered world However the ordered world carries more of an image of the world of the Ideas, since it was ... 117 Chapter 14 THE METAPHYSICS AND THEOLOGY OF CREATION 123 The Idea of Creation in the Old Testament The Greek Contention With the Origin of the Universe The Christian Theology of Creation Origen ... THE ETERNITY OF THE UNIVERSE The Eternity and Infinity of the Universe The Thermal Death Hypothesis Einstein’s First Model The Universe and Philosophy An Expanding Vacuum The Crisis of Einstein’s

Ngày tải lên: 14/12/2018, 09:57

... values, with the highest (i.e., the most significant collocates) at the top of each of the four columns to the left and to the right of the node During the first stage of the research, all the relevant ... span of four words on either side of the node word The following nomenclature is normally used to describe the positions in the span; node –1 to –4 describe the four positions to the left of the ... collocations are formed These include the semantics of the individual items themselves, the use of metaphor, semantic prosody, and the tendency for many of the selected items to be part of larger phraseological

Ngày tải lên: 01/01/2019, 22:21

... obtain a fingerprint of the core substances of the flavonoid biosynthesis pathway For comparative analysis of different genotypes, we suggest the use of 10 seed(lings) The analysis of Arabidopsis thaliana ... fragmentation of the aglycon in the pseudoMS3 experiment The order and position of the attached sugar moieties was not specified In brackets: the aglycon is predicted and not identified In these cases there ... (FLS) and DIHYDROFLAVONOL 4-REDUCTASE (DFR/TT3) resulting in three further branches of the pathway The flavonols kaempferol, quercetin and myricetin, are the products of FLS The leucoanthocyanidins

Ngày tải lên: 22/05/2020, 04:40

... Scope of the study As the title of this paper suggests, the aim of the research is exploring the collocates of the word “homeland” over three periods of time There exist so many corpora in the ... “Palestinian” and “Jewish” These collocates help the readers identify the meaning of the word “homeland” in the period of the 1990s These collocates help denote the meaning of the word “homeland” That ... third group in the period of the 1990s In other words, the meaning of the word “homeland” in the 2000s and 2010s remained the same as it did in the 1990s However, in the 2000s, the word “homeland”

Ngày tải lên: 23/09/2020, 22:09

... Scope of the study As the title of this paper suggests, the aim of the research is exploring the collocates of the word “homeland” over three periods of time There exist so many corpora in the ... “Palestinian” and “Jewish” These collocates help the readers identify the meaning of the word “homeland” in the period of the 1990s These collocates help denote the meaning of the word “homeland” That ... third group in the period of the 1990s In other words, the meaning of the word “homeland” in the 2000s and 2010s remained the same as it did in the 1990s However, in the 2000s, the word “homeland”

Ngày tải lên: 30/09/2020, 12:17

... suspected on the basis of personal and family history (such as the Amsterdam II criteria and revised Bethesda criteria) [1] allied with the results of tumour testing, ideally the finding of a pathogenic ... strategies and the incremental net health benefit (INHB) of the strategies at a willingness-to-pay of £20,000 per QALY Secondary outcomes were the diagnostic test accuracies of the strategies, the expected ... indicates a loss of MMR proficiency, while immunohistochemistry (IHC) of MMR proteins can indicate loss of their expression in a tumour; both indicate LS as a possible cause of the tumour Sporadic

Ngày tải lên: 30/09/2020, 12:43

... Scope of the study As the title of this paper suggests, the aim of the research is exploring the collocates of the word “homeland” over three periods of time There exist so many corpora in the ... “Palestinian” and “Jewish” These collocates help the readers identify the meaning of the word “homeland” in the period of the 1990s These collocates help denote the meaning of the word “homeland” That ... third group in the period of the 1990s In other words, the meaning of the word “homeland” in the 2000s and 2010s remained the same as it did in the 1990s However, in the 2000s, the word “homeland”

Ngày tải lên: 08/11/2020, 12:07

... disposed of them within the enclosure, and 205 (60.1%) disposed of them outside the enclosure Nineteen (86.4%) of the inspected sample of Hobby facilities disposed of carcasses outside the C/P-OC ... disposed of them within the enclosure For the inspected sample of Exhibition facilities, (50.0%) disposed of them off-site but not at a licensed landfill, (12.5 %) disposed of them within the enclosure, ... Total 19 Discussion 5.1 Risk analysis for introduction of CWD Discussion of the results of the audit in the context of CWD risk requires the recognition that potential risks associated with C/P-OC...

Ngày tải lên: 29/03/2014, 22:20

... overview of research over the past 20 years The first chapter explains why the equity premium is a puzzle Chapter two is an extended survey of the risk- based explanations of the equity premium ... growth rate of consumption, we get ln E{Re} − ln Rf = ασx , (21) and the equity premium then is the product of the coefficient of relative risk aversion and the variance of the growth rate of consumption ... Re ) (20) The (log) equity premium in this model is the product of the coefficient of risk aversion and the covariance of the (continuously compounded) growth rate of consumption with the (continuously...

Ngày tải lên: 22/03/2014, 23:20

... meet the TCE assumption of the costs of hierarchy being higher than the costs in the market Third, the extent of the cost penalty due to scale diseconomies [C(x, k2)] is also independent of the ... (Williamson, 1999) they would earn equal profit from organizing the transaction in hierarchy 27 Fourth, the arguments presented so far ignore the effect of the endogenous nature of the choice of asset ... threat of opportunism, and this threat can be most efficiently managed through the adoption of hierarchical form of governance In the absence of high levels of asset specificity, the theory asserts...

Ngày tải lên: 02/11/2014, 00:34

... to binding by analyzing the surface of the residues covered by the protein They also see an interaction of the C-terminal part RPAP with the surface of the antibody In the shorter peptide that ... 36% of the interaction of the full peptide with the binding cavity of SM3 The sizes of the surfaces were determined using distances between ligand ˚ atoms and protein atoms of less than A These ... reference pairs The build-up of the trNOE between Asp2-b and b¢ is much faster than that of the other two reference points indicating differences of the rotational correlation times of these proton...

Ngày tải lên: 21/02/2014, 15:20

... Fahy, Smithee / Strategic Marketing and the Resource Based View of the Firm Strategic Marketing and the Resource Based View of the Firm Discourse in the field of strategic marketing ... integrated review of the origins, insights and status of the resource -based view of the firm As Collis (1991) notes, no coherent body of theory has as yet emerged to summarise the resource -based view ... Consequently, the basic propositions of the RBV have become increasingly well delineated In short, the principal contribution of the resource -based view of the firm to date has been as a theory of competitive...

Ngày tải lên: 15/03/2014, 22:20

... from the global t The constant a is the ratio of apparent dissociation constants for binding GST-IjBa in the presence and absence of ATP, and the value of a indicates whether the binding of one ... not block the activity of another IKK isoform, IKK1 Consequently, IjBa may still be phosphorylated by the IKK1 isoform when the IKK1 isoform is present and activated in the system Another could ... that the oscillatory pattern of the model is affected when the new data is implemented in the model We next studied the impact of a rhIKK2 inhibitor on the oscillatory pattern of both cell-based...

Ngày tải lên: 16/03/2014, 11:20

... year of the date of acceptance of the application and must place the property in service within three years from the date of the issuance of the certification The change would be effective on the ... or as a head of household The width of the phase-in range and the beginning of the phase-out range are indexed for inflation Hence, the maximum amount of the credit and the end of the phase-out ... of the certification have been met within one year of the date of acceptance of the application and must place the property in service within three years from the date of the issuance of the...

Ngày tải lên: 23/03/2014, 02:20

... assumed that the strength of the impact of the change was inherently expressed in the perceptions of the employees, it was not necessary to separately explore the effects of the change on the employees, ... change: that is, the greater the degree of perception A, the greater the degree of resistance to change becomes Similarly, the greater the degree of perception B, the greater the degree of resistance ... has posited the influences of the perception of uncertainty in the environment on the perception of the need for change in a firm’s strategies The research on the roles and effects of perceptions...

Ngày tải lên: 23/03/2014, 04:21

... indicating the limit of overthrown trees (solid line) and the limit of charred trees (dashed line) The black dot indicates the focal point of the blast From these tree footprints, two types of damage ... While the accuracy of a risk assessment model is important, so is the importance of understanding the management of the risk On the insurance side, comprehensive multi-peril or all -risk insurance ... the small size of the meteorites—a few kilograms at best—and the dissipation of their orbital velocities, as they simply fell from the sky Although there is no definitive record of human casualties...

Ngày tải lên: 30/03/2014, 16:20