towards developing a templateto assess islamic financial services industry ifsi in the world bank imf financial sector assessment program fsap
Fundamentals of financial instruments sunil parameswaran
... 11:48:52 10 V Fundamentals of Financial Instruments Financial Assets A financial asset is a claim against the income or wealth of a business firm, a household, or a government agency, which is ... may also be viewed as follows Any transaction that leads to an increase in the demand for foreign exchange should be shown as a debit, and any transaction that leads to an increase in the Parameshwaran ... Sunil K Parameswaran T A Pai Management Institute Manipal, 576104 Karnataka, India July 2011 fpref August 2011; 12:5:52 Acknowledgments I am indebted to all my students in India and Australia who...
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prugsamatz - corporate governance effects on firm value and stock market performance in thailand -
... papers.ssrn.com/sol3/papers.cfm?abstract_id=533582 Khanthavit, A. , Polsiri, P., and Wiwattanakantang, Y (2003) Did families lose orgain control? Thai firms after the East Asian financial crisis (CEI Workingpapers) Thailand ... for financial data availability over the 2000-2009 annual ending periods Listed companies that did not have up-to-date published financial data were excluded from the study The companies were then ... responsibility towards guiding the management’s assessment of business risk (Ibid) This in turn may strengthen management’s ability to identify and assess internal and external risks Finally, with regard...
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Ownership structure and stock market liquidity
... world They are characterised by a high degree of ownership in general and are predominantly family-controlled The Tunisian Financial system is fragmented, dominated by banks Besides, financial institutions, ... obtain private information about the firm because they have resources to make any analyses on the firm and acquire information The market makers are brought to widen spreads Thus, increased INST ... (2004) examines the relation between bid-ask spread, measured both as effective and specialist spreads and INST He found that spreads are negatively related to INST share Barabanov and Mc Namara (2002)...
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Relationship between stock return and trading volume in vietnam's stock market
... Malaysia and Indonesia, they found that causality run in both direction On the other hand, in Thailand and South Korea, they found that only return cause the volume Another study of Kamath and ... Lee, and K Nam, 2000, Volatility and information flows in emerging equity markets: A caseof the Korean stock exchange, International Review of Financial Analysis 9, 405-420 42 Ragunathan V and A ... related, the two stochastic trends would be very similar to each other, and then their combination may be eliminate the non – stationary In this special case, the variables are cointegrated Cointegration...
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the stock market, the theory of rational expectations, and the efficient markets hypothesis
... expectation of the variable that is being forecast Xof = optimal forecast using all available information Implications of the Theory • If there is a change in the way a variable moves, the way in which ... Expectations in Financial Markets I Recall: The rate of return from holding a security equals the sum of the capital gain on the security plus any cash payments divided by the initial purchase ... beginning of the holding period C = cash payment (coupon or dividend) made during the holding period Efficient Markets: Rational Expectations in Financial Markets II At the beginning of the holding...
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Bonds convertible into new shares and/or exchangeable into existing shares of ACCOR ppt
... Accounting principles and auditing standards and their application in practice vary from one country to another The accompanying financial statements are not intended to present the financial position, ... bear interest at a rate of 1% per annum on their nominal amount payable annually in arrear on January in each year and, in respect of the first interest period, January 2003, (each of these dates ... exchange trading days following the date of attribution of such financial instruments during which the shares and the financial instruments are simultaneously quoted If the financial instruments are...
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The Making of an Investment Banker: Stock Market Shocks, Career Choice, and Lifetime Income docx
... investment banking in the year the Stanford MBA graduated The M &A and Wharton variables are only available for certain years, so the sample size is smaller Standard errors (in parentheses) are adjusted ... shows the fraction of each graduating class that initially takes a job in investment banking and then what fraction of the class works in banking for up to 10 years after graduation As the graph ... MBA The lines show the fraction of the Stanford MBA class that graduated in the year on the x-axis that works in investment banking in the first January after graduation, the fourth January, the...
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an empirical analysis of stock and bond market liquidity
... the spread to a one-standard deviation shock in another variable, and on assuming 250 trading days in an year Taking the total incremental trading cost per million shares traded and multiplying ... first averaging all transactions for each individual stock on a given trading day and then cross-sectionally averaging all individual stock daily means that satisfy the data filters described in the ... first averaging all transactions for each individual stock on a given trading day and then cross-sectionally averaging all individual stock daily means that satisfy the data filters described in the...
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chordia, sarkar and subrahmanyam -an empirical analysis of stock and bond market liquidity
... m a r ke t m a kin g , J ournal of F inancial and Quantitative Analysis , -3 S p ie g e l, M., a n d A S u b r a h m a n ya m , 9 , On in t r a d a y r is k p r e m ia , J ournal of F inance ... have run our forecasting regressions with and without the market variables and ¯nd that these variables not have any impact when included along with the order °ow variables The results with the ... was all but impossible to maneuver out of large trading bets." { Wall Street Journal, November 16, 1998 See also Brennan and Subrahmanyam (1996) and Brennan, Chordia and Subrahmanyam (1998) in...
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Bachelor of finance and banking thesis the test of CAPM in vietnam stock market
... Real estate Manufacturing Transportation and storage Manufacturing Real estate Wholesale and Retail trade Wholesale and Retail trade Manufacturing Manufacturing Real estate Manufacturing Manufacturing ... activities Manufacturing Financial, banking and insurance activities Manufacturing Electricity, gas, stream and air conditioning Manufacturing Manufacturing Manufacturing Transportation and storage Construction ... Sewerage, Waste Management And Reme Wholesale and Retail trade Manufacturing Real estate Manufacturing Transportation and storage Manufacturing Wholesale and Retail trade Manufacturing Real estate...
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the stock market, credit, and capital formation
... over real capital in exchange for money capital The didactical value of the concept of capital disposal is apparent in the theory of saving and capital formation For a long time there was much ... and installation of real capital Capital formation arises out of the application to productive purposes of that part of income which is saved The refraining of an individual from consuming part ... used by the investor for the creation of real capital in the form of a dam W e purposely chose the example of a dam because that is a clear case of a formation of new real capital The case is...
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Tiểu luận quản trị rủi ro 198 Chen Roll Ross – Economic Forces and the Stock Market
... thuật Fama-Macbeth 1973 sử dụng Quy trình sau: a L a chọn mẫu b Độ nhạy cảm (beta) tài sản với biến số kinh tế ước lượng cách hồi quy tỉ suất sinh lợi theo thay đổi bất ngờ biến số kinh tế giai đoạn ... E[I(t)] Expected inflation Fama Gibbons (1984) UI(t) Unexpected inflation I(t) – E[I(t)│ t – 1] RHO(t) Real interested (ex post) TB(t-1) – I(t) DEI(t) Change in expected inflation E[I(t+1)│t] ... 1958-78: Ibbotson Sinquefield (1982) IP Baa Industrial production 1979-83: CRPS Sản lượng công nghiệp tháng (Khảo sát DN Low-grade bonds nay) Tỉ suất sinh lợi TP xếp hạng từ Baa trở xuống 1953-77:...
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Báo cáo quản trị rủi ro ECONOMIC FORCES AND THE STOCK MARKET
... the Macro Variables H Statiscal Characteristics of the Macro Variables YP is highly autocorrelated The variables generally display mild autocorrelations, and many of them have seasonals at ... at the 12-month lag The MP series, in particular, has a peak in its lag at 12 months (repeated at 24 months warning that this variable is highly seasonal The autocorrelation in the State variables ... market index fails to have a statistically significant effect on pricing in any subperiod On the other hand, the original macroeconomic variables have about the same significance as they did in...
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Equitization and listing of vinamilk in Vietnamese stock market
... building and maintaining a good policy of salary and wages to them The high paid salary and wage help to retain the experienced staffs as well as attract more talented staffs to work for the company ... proclaims the SOE renovation and restructuring, with Vinamilk as a typification, a lucid policy in the cause of national industrialization and modernization as well as integrating into the world s ... cooperating with some world leading groups for joint investment in order to attract the capital and expertise for the company and at the same time to expand its domestic as well as international market...
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Tiểu luận môn đầu tư tài chính chủ đề ChenRollRoss ECONOMICS FORCE AND THE STOCK MARKET
... ngh a sau: (Baa & under bond porfolio return: tỷ suất sinh lợi danh mục trái phiếu xếp hạng Baa thấp hơn) LGB(t) tỷ suất sinh lợi danh mục trái phiếu phủ dài hạn lấy từ nghiên cứu Ibbotson Sinquefield ... biến sau: EWNY(t) = return on the equally weighted NYSE index ( tỷ suất sinh lợi danh mục đầu tư có tỷ trọng sàn NewYork VWNY(t) = return on the value-weighted NYSE index ( tỷ suất sinh lợi danh ... toàn giai đoạn mẫu có MP, UI UPR có ý ngh a, UTS gần đạt ý ngh a thống kê (gần t-critical) Biến liên quan đến lạm phát, DEI UI có ý ngh a cao giai đoạn 1968-77 ý ngh a giai đoạn trước sau Chuỗi...
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Thuyết trình tài chính doanh nghiệp THE STOCK MARKET AND CORPORATE Investment A Test of Catering Theory
... conventions, managers have discretion over accruals adjustments and may use them to manage earnings For example, a manager can modify accruals by delaying recognition of expenses after advancing cash to ... current assets, ΔCL is the change in current liabilities minus the change in debt included in current liabilities and minus the change in income taxes payable, and DEP is depreciation and amortization ... of investment will be lower as the expected duration of mispricing increases and/or the horizon of the average Empirical Analysis Data • Data come from the merged CRSP–Compustat database and Zacks,...
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Tiểu luận môn tài chính doanh nghiệp The Stock Market and Corporate Invesment
... 1_TCDN_Cao học Kh a 23 Page 13 The Stock Market and Corporate Invesment GVHD: PGS.TS Trần Ngọc Thơ trung bình, sau Q biên tế cao nên tương quan chiều với khả sinh lợi dự kiến tương lai cao Trong ... đến định đầu tư thông qua kênh vốn chủ sở hữu Các công ty bị đinh giá cao phát hành nhiều cổ phần (Baker Nhóm 1_TCDN_Cao học Kh a 23 Page 10 The Stock Market and Corporate Invesment GVHD: PGS.TS ... ba biến cuối phần Phụ lục KZ i, t Kaplan-Zingales (1997) số hạn chế tài chính, định ngh a Phụ lục công ty- (fi) năm- (γt) hiệu ứng cố định, Nhóm 1_TCDN_Cao học Kh a 23 Page The Stock Market and...
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