The Committee believes that a successful implementation of the revised Framework will provide banks and supervisors with critical experience necessary to address such challenges. The Committee understands that the IRB approach represents a point on the continuum between purely regulatory measures of credit risk and an approach that builds more fully on internal credit risk models. In principle, further movements along that continuum are foreseeable, subject to an ability to address adequately concerns about reliability, comparability, validation, and competitive equity.......
The Committee believes that a successful implementation of the revised Framework will provide banks and supervisors with critical experience necessary to address such challenges. The Committee understands that the IRB approach represents a point on the continuum between purely regulatory measures of credit risk and an approach that builds more fully on internal credit risk models. In principle, further movements along that continuum are foreseeable, subject to an ability to address adequately concerns about reliability, comparability, validation, and competitive equity....
In recent years, enormous strides have been made in the art and science of
credit risk measurement and management. Much of the energy in this area
has resulted from dissatisfaction with traditional approaches to credit risk
measurement and with the current Bank for International Settlements (BIS)
The empirical relationship between capital controls and the financial development of credit and equity markets is examined. We extend the literature on this subject along a number of dimensions.Specifically, we
(1) investigate a substantially broader set of proxy measures of financial development;
(2) create and utilize a new index based on the IMF measures of exchange restrictions that incorporates a measure of the intensity of capital controls; and (3) extend the previous literature by systematically examining the implications of institutional (legal) factors.
One issue with using portfolio holdings to evaluate fund performance
is that the disclosed data reveal information about the major equity
positions at particular dates but do not indicate the exact purchase
and sale dates. As a result, the exact holding period of securities is
unknown. Furthermore, some funds may window-dress their portfolios
to hide their actual investment strategy from their investors or from
competing funds, as shown byMeier and Schaumburg (2004).
ESSAYS ON TOTAL FACTOR PRODUCTIVITY AND HUMAN CAPITAL In fact, I do not estimate separate regressions for each MSA, but the general effect is
the same: Unreliability of the peer group measure produces an upward bias in the effect of
choice on the peer group gradient, and therefore in the interaction coefficient 1
HUMAN CAPITAL INVESTMENT BY PRIVATE EMPLOYERS IN BLAIR COUNTY, PENNSYLVANIA, AS MEASURED A one standard deviation (0.28) increase in the choice index corresponds
with a reduction in mean scores of only about four points, about one-eighth of an MSA-level
standard deviation. Moreover, in some alternative specifications not reported here, the
coefficient estimate is statistically insignificant, though still negative.
After studying this chapter in the lecture, you should be able to: Explain what the cost of capital represents and why it is so important, estimate the cost of equity using the dividend growth model approach and the security market line approach, estimate the cost of debt and the cost of preferred stock, understand when it is appropriate and to use the WACC as a measure of the firm's required rate of return,...
After studying chapter 14, you should be able to: Define the “riskiness” of a capital investment project; understand how cash-flow riskiness for a particular period is measured, including the concepts of expected value, standard deviation, and coefficient of variation; describe methods for assessing total project risk, including a probability approach and a simulation approach.
This chapter begins with a general introduction to project risk and follows with the consideration of its specific measurement. Next, an investment project is examined with respect to its firm-portfolio risk – that is, the marginal risk of a project to the firm as a whole. Finally, the effect of managerial (real) options on project desirability is studied.
Chapter 15 explain the cost of capital and taxation issues in project evaluation. This chapter include objectives: Understand the concept of the cost of capital, understand the effect of risk on the cost of capital, understand how the cost of capital can be measured under the imputation tax system, understand why the cost of capital for a company is expressed as a weighted average of the costs of all of the company’s sources of capital,...
Tài liệu giới thiệu khái quát về Six Sigma dành cho các doanh nghiệp Việt Nam chỉ nhằm mục đích hướng dẫn. Chương trình trợ giúp của Mekong Capital cho các doanh nghiệp mà Quỹ doanh nghiệp Mekong đang đầu tư bao gồm việc hỗ trợ để tăng cường năng lực của doanh nghiệp trong việc không ngừng cải tiến qui trình kinh doanh. Mekong Capital hiện đang có 2 chuyên viên Six Sigma Black Belt phụ trách việc hỗ trợ các doanh nghiệp trong lĩnh vực này.
Measuring and Managing the Value of Companies
WILEY FINANCE Advanced Fixed-Income Valuation Tools, Narasimham Jegadeesh and Bruce Tuckman Beyond Value at Risk, Kevin Dowd Buying and Selling Volatility, Kevin B. Connolly Chaos and Order in the Capital Markets: New View of Cycles, Prices, and Market Volatility, Second Edition, Edgar E. Peters Corporate Financial Distress and Bankruptcy, Second Edition, Edward I.
The measurement of all international
transactions in and out of a country over a
year is a difficult task
Mistakes, errors, and statistical
discrepancies will and do occur
Current and capital account entries are
recorded independent of one another, not
together as this accounting method would
In everyday life we are often forced to make decisions involving risks and
perceived opportunities. The consequences of our decisions are affected by the
outcomes of random variables that are to various degrees beyond our control. Such
decision problems arise, for instance, in financial and insurance markets.
The average startup will fail within the first 5 years simply because there is either not enough time or not enough
capital to make it stay functional. With limited cash flow and even more limited revenues coming in, profitability is
ridiculously hard. While technology makes it possible for anyone to start a business within minutes and promote it
to everyone, everywhere, anytime, the competition is now stiffer than ever. As a small business owner with an
online presence, you must use the power of the Internet to your advantage to not become another failed startup
study also offers an auxiliary performance measure to capture this effect and assesses how
important it is to mutual fund performance in Thailand.
The fourth aim of this thesis is to investigate and discuss policy implications in
Thailand which adopt tax-advantaged types of mutual fund in order to encourage retirement
and long-term savings. In this thesis, the performance and characteristics of these tax-
advantaged funds are also investigated in a separate group and compared to those of general
mutual funds. ...
Since the 1980s many funds charge 12b-1 fees, which are used to pay for marketing and
distribution costs and are included in the fund's expense ratio. Many funds offer multiple share
classes (such as A, B, or C classes) with different combinations of loads and 12b-1 fees. To
approximate the total cost of mutual fund shares, we aggregate all the costs incurred by fund
shareholders using the now standard total ownership cost (TOC) measure introduced by Sirri
and Tufano (1998).
This monograph emerged from our efforts to study the behavior of the
households from the Townsend Thai Monthly Survey. This experience
convinced us that imposing an accounting framework and creating
financial statements would be a useful, indeed a necessary, first step
for the analysis of household finance, especially from high-frequency,
Since the ﬁnancial crisis, there has been renewed interest in documenting the balance-
sheet positions of ﬁnancial institutions. We share the important goal of this literature:
to come up with data on positions that will inform the theoretical modeling of these insti-
tutions, as called for by Franklin Allen in his 2001 AFA presidential address. Adrian and
Shin (2011) investigate the behavior of Value-at-Risk measures reported by investment