... point of view, the benchmark return is beta times themarket return, enhanced by a factor equal to the square root ofthe ratio ofthe trading frequency ofthe stock to that ofthemarket Furthermore, ... times the excess return ofthemarket is proportional to the component ofthe volatility ofthe stock orthogonal to themarket (2.36) This is the well known result ofthe capital asset pricing ... stock i with themarket to the variance ofthemarket σM By substituting thevalueof i in equation (2.29) into (2.27) one finds that thevalueofthe market- neutral version of Si is ˜ Si = (1 − βiM...
... reflect the full marketvalue declines in all or some ofthe underlying securities The impact is recorded as a liability on the books ofthe sponsor Page of 13 support events during the fiscal ... included is the authors' estimate ofthe difference between the purchase price and marketvalueof purchases of defaulted securities for $1,249 million for which no marketvalue was disclosed The estimated ... estimate ofthe difference between the purchase price and marketvalueof purchases of defaulted securities during the 2010 fiscal year for $1,249 million for which no marketvalue was disclosed The...
... cloud services The apothegm is ‘Own the base and rent the peak’ Conclusion The customer’s overall cloud health starts with an assessment ofvalueThe assessment ofvalueof cloud services can ... pain Sourcing’s Five Critical Governance Processes The Five Dimensions of Sourcing ValueThe relationship between the five dimensions of sourcing value Connect with Me Online: My blog: strategicsourcingblog.blogspot.com ... another approach businesses should use when assessing cloud value AMS is the paradigm where a predefined level of demand is managed internally and the remainder augmented with cloud services The...
... have the resources to support themarket development for project Cook On the contrary, one ofthe objectives of project Cook was to strengthen the sales organisations in Asia, which is the other ... potential consumers, as they will ask everybody from their friends to their doctor what they think ofthe product.” A former business manager of Oral also stressed the exploration ofmarket knowledge ... recognise the differences between the exploration of technological versus market knowledge and match the project’s autonomy to the degree of exploration of both types of knowledge (see Figure 1) The...
... located in the C-terminus ofthe D region of CsEcR, but in the middle part [31] Although the role of these five amino acids is still unknown, the amino acids in the middle part ofthe D region ... mori (1.1 nM) [45] On the other hand, the KD value for EcR-547aa protein alone was 55 nM (Fig 4A) The KD value for EcR-542aa alone was not measured in this study The KD valueof ponasterone A to ... pIC50 (the reciprocal logarithmic valueofthe IC50) was used as an index ofthe binding activity Results Gel mobility shift assay of in vitro-translated protein As shown in Fig 2, none of EcR-547aa,...
... search problem where the computational demands increase polynomially in the size ofthe regions of support N On the other hand, the selection ofthe regions of support and thus the segmentation ... dividing the number of edges that moved in each of two orthogonal directions by the total number of edges present The higher the total number of edges seen by the sensor, the higher the resolution of ... distribution ofthe visual scene, to denote the dependence ofthe image transduction on the characteristics ofthe imager The image no longer represents the radiance distribution that falls onto the transducer...
... particular, the assessment ofthe responsiveness and test-retest reliability properties ofthe questionnaire and the estimation ofthevalue for the minimal important difference Given the design ofthe ... A2, A4 and A5, the higher the score, the higher the patients' expectations of their treatment; for items A3, A5 and A7, the lower the score, the higher the patients' expectations of their treatment ... to 1; the closer to the RV, the more similar the configuration ofthe two sets of variables Validation and assessment ofthe psychometric properties ofthe PACT-Q dimensions Validity is the degree...
... scores The most interesting correlation was in the level of education achieved; the higher the degree of education, the lower the scores in perception (r = -0.10) The loading results of factor ... Construct validity On the basis of a review ofthe literature, the latent construct of patient expectations and perceptions of quality was theorized to be multidimensional The factor analysis (Table ... expectations The hypotheses were tested via SEM using the STATISTICA®7.1 package The parameters estimated were the regression coefficients in this structural equation part ofthe SEM The assessment of...
... for the patient interviews The objectives ofthe guide were to 1) collect patients' opinions and perspectives on the management and treatment of their disease in their own words, 2) identify the ... to ensure the relevance and comprehensiveness ofthe instrument The rationale for setting the number of interviews in qualitative research should in theory be based on the concept of saturation ... comprehensive review ofthe concept short list and the conceptual definitions ofthe original items was carried out To ensure understanding ofthe underlying concepts ofthe PACT-Q, and hence...
... by the U.S Savings & Loan crisis, the collapse of Japan Inc after the stock market crash of 1990, the Asian crisis ofthe mid-1990s, the fabulous technology boom/bust cycle at the turn ofthe ... a consequence they led their creators to assert, incorrectly, that there was no theoretical justification for the visible hand of government to come to the rescue of banks and other financial institutions ... instruments The late 1980s brought us junk bonds The late 1990s witnessed the spectacular dot-com IPO market And wizardry in the first cycle of this century gave explosive rise to the offering and use of...
... investment And the interplay of these two flaws explains each ofthe major economic declines ofthe past 25 years In summation, the savvy analyst must be of two minds about both efficient markets and ... begun in the last cycle The lesson seemed simple: keep inflation low, ignore the financial markets unless they need rescue, and bask in the glory ofthe Great Moderation 78 • THE COST OF CAPITALISM ... asset markets needed to be added to the Fed’s list of potentially destabilizing excesses Why? Sadly, it was not the force of ideas that carried the day It was the end ofthe Great Moderation The...
... around the emperor’s palace in Tokyo was equal to thevalue 96 • THE COST OF CAPITALISM of all the land in the state of California! The shares of Japanese car makers reached values that suggested these ... bubble!” I looked at the others; they looked down at their shoes And for the remainder ofthe two hours the group exchanged pleasantries In the end the group decided that the big risk going forward, ... 95 of these companies looked shaky Thevalueof bank assets, therefore, had to be reduced And banks, in need of additional capital, curtailed their lending Japan in the early 1990s faced the...
... gripped the United States and then became a world recession The dynamics that precipitated the U.S recession, the global capital markets crisis, and the worldwide downturn, are the subject ofthe ... half ofthe newly issued mortgages were designed with Hanna’s view ofthe world in mind More to the point, rocket scientist models estimating thevalueof complex mortgage products were, in the ... holding mortgage products had to radically reduce the values of these products on their balance sheets The first in a succession of crises about the state of mortgage banking led to a wholesale change...
... writer ofthe insurance If things go as planned, the buyer pays the insurer the premium If things go awry, the insurer pays the buyer Either way, one ofthe two parties gets the money promised in the ... with the stock price valued at next to nothing, seemed to be the clear fate it faced But the Treasury and the Fed, I was convinced, 154 • THE COST OF CAPITALISM recognized the severity ofthe ... confidence in the soundness ofthe people on the other side ofthe table, financial business comes to a screeching halt, and the global economy is not far behind Bear Stearns Appropriately enough, the first...
... brain skills Looking through the details ofthe question to get to an overarching sense ofthe issue is at the heart of right brain thinking Out ofthe Mouths of Babes The best right brain thinking ... on the Eve ofthe Crisis • 175 • They train their sights on the real economy and inflation, giving Wall Street sideshow status The Taylor rule best captures their efforts The equation directs the ... were tumbling in value As we explained in Chapter 3, a bank’s equity at any moment is the difference between thevalueof its assets and thevalueof its liabilities In Japan in the 1990s many...
... part ofthe mainstream formulation The simple truth is that theorists owe this to the policy-making world The sooner they deliver it, the better Global Policy Risks in the Aftermath ofthe 2008 ... many champions of free market capitalism warned about the tenuous nature ofthe global credit markets Warren Buffett, the sage of Omaha, labeled the markets impenetrable, and therefore fraught ... capital markets and the strong growth that they financed gave rise to the long string of successes that were celebrated throughout the 1990s and into the middle years ofthe first decade ofthe new...
... inflation and the external value recession By easing interest rates ofthe nation’s currency remained an towards the end ofthe second quarter unsolved problem in the first half oftheof 1999, the government ... much change in the second half of ued to weaken in the first half of 1999 1999 On the other hand, Alpha Limited There is currently a lack of substan- – the largest company in the region – is ... production facilities on the island land and the strengthening of our marketof Mindanao, “Holderbank” decided positions in the Philippines and China shortly after the end ofthe first half- were...
... of nitrate of leaf NR activityof nodulafed plants Administration of mM NaN0 to 11 mo old nodulated plants did not increase leaf NR activity, whereas the 10 mM NaN0 dose induced high enzyme activity ... decreased in the previous leaf and the highest enzyme activity was found again in the new leaf (Fig 2) When the nitrate supply was withdrawn, the enzyme activity recovered its minimum value after ... After 72 h of induction, the highest NR activity was found in the apical fully expanded leaf and corresponded with the highest nitrate content (Table I) When a new leaf expanded, the NR activity...
... ibuprofen and diclofenac as well as on the newer coxibs The precedent for ‘large simple safety trials’ has been set [3,4] Thevalueof such studies is highlighted by the identification of cardiovascular ... drug marketing The Code of Federal Regulations that governs the regulation of new drugs has required drug manufacturers to collect postmarketing safety information that is available on their marketed ... use of these drugs, however, absolute rates for these potential events are high [12] Premarketing understanding of major biologic effects of new therapies and large carefully performed studies of...