the new agency problem

... xxv I II III IV The retail investor and the EC page xiii xviii The importance of the retail markets The retail markets and the EC The development of a retail market agenda Scope: the reach of EC ... of the European Union and so generally refers to the European Community, the EC and the EC Treaty At the time of writing, the Lisbon Treaty had not been ratified by all the Member States If the ... protect their life’s savings’ (from Italy) (p 117) the retail markets and the ec 19 the reach of the regulatory regime into local markets or the ambition of the EC’s regulatory strategy for the...

Ngày tải lên: 01/11/2014, 21:27

... then, reflects the offsetting of the increase in the hazard of positive changes by the decrease in the negative changes hazard, caused by a rise in the wholesale rate level 27 The effect of the ... changing the retail rates The exploration of these determinants contains, on the one hand, information on the effect of observed heterogeneity on price dynamics On the other hand, by incorporating the ... it sets them to the optimal retail rate at the respective point of time The deviation of the observed retail rate from the optimal retail rate can therefore be approximated by tracking the dynamics...

Ngày tải lên: 22/03/2014, 23:20

... for the Supreme Court’s stubborn refusal to give them up, there would be no fish left in those barrels worth the shooting Still, the Court does insist on citing the text of the document, together ... After all, to wrench the document away from the understandings of the drafters, the ratifiers, and the rest of the founding generation, is to exacerbate the tension between the Constitution and ... opinion-writing; by their own precedents; and, certainly, by the relative fragility of their position in relation to the other branches of the national government But INTRODUCTION they are not seriously...

Ngày tải lên: 18/02/2014, 11:20

... together with SM Supermarket, Savemore and Makro, complete the four retail formats of the SM Food Group — the leading food retail company in the Philippines The SM Food Group was established by the ... the fray and established market leaders revamp their strategies Although there may be cyclical downturns along is the outlook for the health and beauty segments, where growth is being While the ... Outlook for the Retail and Consumer Products Sector in Asia Introduction Faced with the twin prospects of a stagnating US economy and the possible collapse of the euro zone, the outlook for the global...

Ngày tải lên: 18/02/2014, 21:20

... private practice if they adopted the new research-oriented approach, and that they possessed the power to resist the threat through their control of the medical rewards system But they not go far ... for using this problematic concept in one way rather than another Much the same might be said about the employment of the even more controversial concept of the ‘public interest’ The reader searches ... catered for the interests of their well-to-do clients, the Webbs felt that they had ignored the question of how much professional service the nation as a whole requires, and how the work of the profession...

Ngày tải lên: 06/03/2014, 09:20

... distortion of the real interest rate The left-hand panels of Figure report the upward bias in the mean real rate and the downward bias in the variability of the real rate depending on the level of the ... choice variables are the initial price level of the implied target path, the extent of the devaluation and the length of the peg Credibility of the peg turns out to be essential The peg is implemented ... interest The downward bias in the variability of the real rate accounts for the reduced effectiveness of stabilization policy What is perhaps more surprising, is the appreciation bias in the mean of the...

Ngày tải lên: 22/03/2014, 23:20

... as the problems experienced and the concerns expressed not always match The most important concerns which are also reflected in the problems encountered by consumers relate to the delivery of the ... Centres The study consists of four parts: Part presents the main findings from the study, whereas the other parts present detailed methodology and results of the consumer survey (Part 2), the collection ... experienced a problem during the last 12 months said that they experienced this problem in their own country (17%), compared to a smaller percentage that experienced problems when buying outside their...

Ngày tải lên: 23/03/2014, 08:21

... feedback, and all the participants at the meeting held by the Statistics Committee of the ESCB at Toulouse and at the seminars held at the Economic Research Department of the Bank of Italy The usual ... We test the null hypothesis that coefficients are equal at the per cent significance level, and we accept or reject the null hypothesis on the basis of the F[1, 27n – k] statistic When the data ... the single three variables, has not changed the results and the effect of the remaining regressors Another way to check the robustness of the results has been to substitute, where possible, the...

Ngày tải lên: 29/03/2014, 13:20

... to the year end The design and production phases are complete at the year end The estimated cost of the placement phase is CU million How is the payment to the advertising agency treated at the ... of the list price to the retailer The fee is payable when the product is purchased Solution The CGC should recognise revenue from the sale of the discontinued products net of the amount of the ... in the arrangement The entity is able to set the selling price with the customer The entity has inventory risk The entity performs part of the services provided or modifies the goods supplied The...

Ngày tải lên: 30/03/2014, 06:20

... > and x, the solution of the third-order equation, lies inside the roots of P , then ∆L < and opacity dominates The study of ∆L consists then in checking whether or not the roots of the third-order ... as the transmission noise increases Additionally, they explore the case when the accuracy of the central bank signals is not known by the public They find that accuracy underestimation limits the ... banks and the private sector The results imply that neither side can ever fully recover the information of the other side by simply observing its actions the private sector observes the interest...

Ngày tải lên: 17/02/2014, 03:20

... the past 20 years, the introduction of the Euro has potentially enlarged the market for banking, and the advent of new technology has eased the barriers to entry for new market participants The ... deregulated during the past 20 years, the introduction of the Euro has potentially enlarged the market for banking, and the advent of new technology has eased the barriers to entry for new market participants ... in the market and, hence, acts as a proxy for n in the theoretical model RISK serves as a proxy for µ We used the share of problem loans in country c As for a number of countries the share problem...

Ngày tải lên: 15/03/2014, 14:20

... based on New- Keynesian theory.7 In these models, the NRIR is interpreted as the real interest rate in a model with flexible nominal wages and prices These models are particularly suitable for the ... zero, the interest rate should be set at the neutral rate, so the constant in the Taylor equation can be interpreted as the nominal neutral rate Specifically, using the Kalman filter we estimate the ... Specifically, there is an IS equation which relates the output gap to the NRIR and a Phillips curve that relates the inflation rate to the output gap: , , 13 The first equation depicts the IS curve,...

Ngày tải lên: 15/03/2014, 14:20

... research, dedicated to the furtherance of science and technology and to their use for the general welfare Upon the authority of the charter granted to it by the Congress in 1863, the Academy has a ... by the Academy, the Council has become the principal operating agency of both the National Academy of Sciences and the National Academy of Engineering in providing services to the government, the ... secure the services of eminent members of appropriate professions in the examination of policy matters pertaining to the health of the public The Institute acts under the responsibility given to the...

Ngày tải lên: 16/03/2014, 12:20

... had concerns with the quality of advice in the other quarter In 11% of mystery shops we felt the advice was unsuitable for the customer and in a further 15% the adviser did not gather enough information ... as they could within the sales process for the relevant product but not actually complete the transaction The mystery shoppers recorded all of their meetings, so everything the adviser told the ... to help her answer the question and she settled on the middle answer as a compromise The adviser accepted this answer without comment The adviser then asked the customer whether she worried about...

Ngày tải lên: 16/03/2014, 17:20

... increase the expected rate and therefore also the current interbank rate, but the amount of the increase depends on both the size of underbidding and the slope of the demand curve There is then an ... on the demand equations derived from the theoretical model In other words, the functional form and the variables included in the estimated equations are not assumed, rather they come from the ... move the interest rate up to the level expected to prevail at the last day of the maintenance period The level of the interest rate at the last day depends on the slope of the demand curve and the...

Ngày tải lên: 22/03/2014, 23:20

... households are involved in the project CARD-004/05VIE of each village, there are clear regulations for the operation of the group To support the initial activities of the group, the project was to establish ... around the pig cages to the health of humans and animals also said the benefits of implementing new technologies to reduce pollution Guiding the way to compost manure in the holes to kill the pathogen ... occurred in the last months in 2007 and the first months of the year 2008 in Quang Tri province did not only damage the economy of the farmer households but also slow the pace of the project...

Ngày tải lên: 21/06/2014, 06:20

Ngày tải lên: 28/08/2014, 08:27

Ngày tải lên: 27/03/2015, 14:43

... xt, METHODOLOGY The inclusion of two-sided lag differences eliminates the endogeneity problem, while the autocorrelation problem may need to be remedied by including lags of the error correction ... δ2 captures the error correction adjustment speed when the rates are above their equilibrium values and δ3 captures the error correction adjustment speed when the rates are below their equilibrium ...  Prior to the introduction of the OCR in 1999, all long-term degree of pass-through from the market cash rate to retail rates was incomplete  After the introduction of the OCR, the degree of...

Ngày tải lên: 14/07/2015, 08:34

Ngày tải lên: 22/10/2015, 08:38