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Author : Seiichi Katayama
Publisher :
ISBN 13 :
Total Pages : 26 pages
Book Rating : 4.:/5 (218 download)
Download or read book Optimal Investment Policy of the Regulated Firm written by Seiichi Katayama and published by . This book was released on 1987 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher :
ISBN 13 :
Total Pages : 26 pages
Book Rating : 4.:/5 (153 download)
Download or read book Optimal Investment Policy of the Regulated Firm written by and published by . This book was released on 1987 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : P. B. Linhart
Publisher :
ISBN 13 :
Total Pages : 23 pages
Book Rating : 4.:/5 (615 download)
Download or read book Optimal Investment Policy for a Regulated Firm written by P. B. Linhart and published by . This book was released on 1978 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Seiichi Katayama
Publisher :
ISBN 13 :
Total Pages : 26 pages
Book Rating : 4.:/5 (218 download)
Download or read book Increasing Returns to Scale and Optimal Investment Policy of the Regulated Firm written by Seiichi Katayama and published by . This book was released on 1987 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Brian J. Aitken
Publisher :
ISBN 13 :
Total Pages : 33 pages
Book Rating : 4.:/5 (35 download)
Download or read book Optimal Investment Policies for a Firm with a Random Risk Process written by Brian J. Aitken and published by . This book was released on 1992 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Peter M. Kort
Publisher : Springer
ISBN 13 :
Total Pages : 200 pages
Book Rating : 4.:/5 (43 download)
Download or read book Optimal Dynamic Investment Policies of a Value Maximizing Firm written by Peter M. Kort and published by Springer. This book was released on 1989-05-10 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a contribution to the area of dynamic models of the firm. In Chapter 1, a general investment decision rule based on the concept of net present value of marginal investment is developed. In chapter 2, the rule is applied in deterministic dynamic models of the firm. This rule can be expressed as follows: If the net present value of marginal investment is positive, it is optimal for the firm to grow as fast as possible; If the net present value of marginal investment is zero, the firm is in its optimal situation and it determines its investment policy to maintain this position; If the net present value of marginal investment is negative, it is optimal for the firm to contract as much as possible. In Chapter 3, the influence of adjustment costs of investment on optimal dynamic firm behaviour is studied. To that end, models with convex and concave adjustment cost functions are developed and analysed by using the investment decision rule described above. In Chapter 4, the stochastic dynamic theory of the firm is extended by connecting it with the Intertemporal Capital Asset Pricing Model (ICAPM) developed by Merton.
Author : Sid Browne
Publisher :
ISBN 13 :
Total Pages : 26 pages
Book Rating : 4.:/5 (341 download)
Download or read book Optimal Investment Policies for a Firm with a Random Risk Process written by Sid Browne and published by . This book was released on 1995 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jean Pierre Baumgartner
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (761 download)
Download or read book Optimal Investment Policy from the Standpoint of the Firm and from the Standpoint of the Collectivity written by Jean Pierre Baumgartner and published by . This book was released on 1973 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Sheran Deng
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.5/5 (355 download)
Download or read book Three Essays on Regulation of Firms and Investment Funds written by Sheran Deng and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: ESSAY 1: Using a Department of Justice policy change intended to increase individual responsibility of managers for corporate offenses (e.g., pollution) as a natural experiment, I find that firms with a high ex-ante probability of regulatory violations ("exposed firms") reduce investment, sales, and employment. Such reductions in reduce shareholder value. Exposed firms suffer an abnormal return of -1% around the event date on average. The negative value effects are concentrated in exposed firms with low agency costs. Exposed firms have lower cash salaries for managers after the policy intervention. Various tests support the causal effect of the policy intervention on firm behavior. These findings suggest that most regulatory offenses do not represent an agency cost on shareholders when fines are paid by shareholders. Instead, fines on shareholders allow a manager to pursue potentially harmful projects whose value to shareholders outweighs fines borne by them. ESSAY2: We present a model on regulating externalities of a firm run by a manager and owned by shareholders. In equilibrium, optimal regulation in the presence of an agency conflict can take two forms. In one regulatory strategy, a fine is imposed on the manager, and no firing takes place. Alternatively, a fine is imposed on the firm (i.e., shareholders), and the fine is lower if the manager is fired. As the agency conflict becomes more severe fining the manager becomes more attractive. Finally, we find that regulation costs are lower when the manager and shareholders are separate entities. ESSAY3: This paper studies the impact of disclosure on short selling. Using a confidential dataset on shorts on stocks traded in the Dutch stock market including both short positions large enough to trigger public disclosure and positions not large enough, we find that the quality of shorts increases discontinuously at the reporting threshold. we find strong evidence that short sellers increase security selection intensity when their short positions approach the reporting threshold. We rule out several alternative explanations These results suggest that transparency disincentivizes shorting on noisy information.
Author : Clifford E. Kirsch
Publisher :
ISBN 13 : 9781402407710
Total Pages : 0 pages
Book Rating : 4.4/5 (77 download)
Download or read book Investment Adviser Regulation written by Clifford E. Kirsch and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Investment Adviser Regulation: A Step-by-Step Guide to Compliance and the Law gives you the thorough regulatory guidance you need to understand the rules currently governing investment advisers while ensuring you keep pace with the tougher rules to come. This straightforward, easy-to-read compliance resource shows you how to file and update the pivotal Form ADV and draft compliant advisory contracts.
Author : Douglas Evans McTeer
Publisher :
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.:/5 (23 download)
Download or read book An Optimal Investment Strategy written by Douglas Evans McTeer and published by . This book was released on 1975 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : OECD
Publisher : OECD Publishing
ISBN 13 : 9264852395
Total Pages : 94 pages
Book Rating : 4.2/5 (648 download)
Download or read book OECD Sovereign Borrowing Outlook 2021 written by OECD and published by OECD Publishing. This book was released on 2021-05-20 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edition of the OECD Sovereign Borrowing Outlook reviews developments in response to the COVID-19 pandemic for government borrowing needs, funding conditions and funding strategies in the OECD area.
Author : Robert Anthony Musacchio
Publisher :
ISBN 13 :
Total Pages : 228 pages
Book Rating : 4.:/5 (933 download)
Download or read book Optimal Captial Policies of a Regulated Firm written by Robert Anthony Musacchio and published by . This book was released on 1980 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Damir Filipović
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (838 download)
Download or read book Optimal Investment and Premium Policies Under Risk Shifting and Solvency Regulation written by Damir Filipović and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Limited liability creates a conflict of interests between policyholders and shareholders of insurance companies. It provides shareholders with incentives to increase the risk of the insurer's assets and liabilities which, in turn, might reduce the value policyholders attach to and premiums they are willing to pay for insurance coverage. We characterize Pareto optimal investment and premium policies in this context and provide necessary and sufficient conditions for their existence and uniqueness. We then identify investment and premium policies under the risk shifting problem if shareholders cannot credibly commit to an investment strategy before policies are sold and premiums are paid. Last, we analyze the eff ect of solvency regulation, such as Solvency II or the Swiss Solvency Test, on the agency cost of the risk shifting problem and calibrate our model to a non-life insurer average portfolio. Risk Shifting, Insurance, Regulation, Pareto Optimality
Author : Guy Kaplanski
Publisher :
ISBN 13 :
Total Pages : 47 pages
Book Rating : 4.:/5 (129 download)
Download or read book Value-at-Risk Capital Requirement Regulation, Risk Taking and Asset Allocation written by Guy Kaplanski and published by . This book was released on 2015 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this study, the Mean-Variance framework is employed to analyze the impact of the Basel VaR market risk regulation on the institution's optimal investment policy, the stockholders' welfare, as well as the tendency of the institution to change the risk profile of the held portfolio. It is shown that with the VaR regulation, the institution faces a new Regulated Capital Market Line, which induces resource allocation distortion in the economy. Surprisingly, only when a riskless asset is available does VaR regulation induce the institution to reduce risk. Otherwise, the regulation may induce higher risk, accompanied by asset allocation distortion. On the positive side, the regulation implies an upper bound on the risk the institution takes and it never induces the firm to select an inefficient portfolio. Moreover, when the riskless asset is available, tightening the regulation always increases the amount of maintained eligible capital and decreases risk.
Author : Raj Aggarwal
Publisher :
ISBN 13 :
Total Pages : 308 pages
Book Rating : 4.:/5 (319 download)
Download or read book Capital Budgeting Under Uncertainty written by Raj Aggarwal and published by . This book was released on 1993 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : World Bank Group
Publisher : World Bank Publications
ISBN 13 : 1464815437
Total Pages : 321 pages
Book Rating : 4.4/5 (648 download)
Download or read book Global Investment Competitiveness Report 2019/2020 written by World Bank Group and published by World Bank Publications. This book was released on 2020-07-06 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Global Investment Competitiveness Report 2019-2020 provides novel analytical insights, empirical evidence, and actionable recommendations for governments seeking to enhance investor confidence in times of uncertainty. The report's findings and policy recommendations are organized around "3 ICs" - they provide guidance to governments on how to increase investments' contributions to their country's development, enhance investor confidence, and foster their economies' investment competitiveness. The report presents results of a new survey of more than 2,400 business executives representing FDI in 10 large developing countries: Brazil, China, India, Indonesia, Malaysia, Mexico, Nigeria, Thailand, Turkey, and Vietnam. The results show that over half of surveyed foreign businesses have already been adversely affected by policy uncertainty, experiencing a decrease in employment, firm productivity, or investment. Foreign investors report that supporting political environments, stable macroeconomic conditions, and conducive regulatory regimes are their top three investment decision factors. Moreover, the report's new global database of regulatory risk shows that predictability and transparency increase investor confidence and FDI flows. The report also assesses the impact of FD! on poverty, inequality, employment, and firm performance using evidence from various countries. It shows that FDI in developing countries yields benefits to their firms and citizens-including more and better-paid jobs-but governments need to be vigilant about possible adverse consequences on income distribution. The report is organized in S chapters: Chapter 1 presents the results of the foreign investor survey. Chapter 2 explores the differential performance and development impact of greenfield FDI, local firms acquired by multinational corporations {i.e. brownfield FDI), and domestically-owned firms using evidence from six countries. Chapter 3 assesses the impact of FDI on poverty, inequality, employment and wages, using case study evidence from Ethiopia, Turkey and Vietnam. Chapter 4 presents a new framework to measure FDI regulatory risk that is linked to specific legal and regulatory measures. Chapter S focuses on factors for increasing the effectiveness of investment promotion agencies.
