Thursday, May 24, 2012

MoneyScience News

MoneyScience News


Are US threats to strictly apply #DoddFrank rules on foreign units of #banks like J.P. Morgan being politicised? http://t.co/xG9Kq8UA #tcm

Posted: 24 May 2012 03:49 AM PDT

moneyscience: Are US threats to strictly apply #DoddFrank rules on foreign units of #banks like J.P. Morgan being politicised? http://t.co/xG9Kq8UA #tcm

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@Cassinthenews: Cass the UKâs No.2 in Guardian University Guide 2013 http://t.co/VGJzOZq6

Posted: 24 May 2012 03:26 AM PDT

BusinessSchools: @Cassinthenews: Cass the UK’s No.2 in Guardian University Guide 2013 http://t.co/VGJzOZq6

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Are US threats to strictly apply #DoddFrank rules on foreign units of #banks like J.P. Morgan being politicised? http://t.co/sfcbjp7h #tcm

Posted: 24 May 2012 03:11 AM PDT

fin_tech: Are US threats to strictly apply #DoddFrank rules on foreign units of #banks like J.P. Morgan being politicised? http://t.co/sfcbjp7h #tcm

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RT @Ian_Fraser: "Greece will leave EMU on 1st January 2013": Citi analysts http://t.co/CYlN4rB8

Posted: 24 May 2012 03:02 AM PDT

moneyscience: RT @Ian_Fraser: "Greece will leave EMU on 1st January 2013": Citi analysts http://t.co/CYlN4rB8

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Power Politics and 'strategy tools' - http://t.co/6MIqUYLW #tcm #management

Posted: 24 May 2012 03:02 AM PDT

moneyscience: Power Politics and 'strategy tools' - http://t.co/6MIqUYLW #tcm #management

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MT @TimHarford: The American Economic Association's new disclosure policy (pdf) http://t.co/ocWiVwFp #tcm #economics

Posted: 24 May 2012 01:59 AM PDT

BusinessSchools: MT @TimHarford: The American Economic Association's new disclosure policy (pdf) http://t.co/ocWiVwFp #tcm #economics

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The Financial Education Daily is out! http://t.co/TYluKzUv ⸠Top stories today via @LSEnews @UCIrvine_MBA @WarwickMBA

Posted: 24 May 2012 12:50 AM PDT

BusinessSchools: The Financial Education Daily is out! http://t.co/TYluKzUv â–¸ Top stories today via @LSEnews @UCIrvine_MBA @WarwickMBA

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Blog Post: TheFinancialServicesClub: Social media platforms are not the same as social media

Posted: 24 May 2012 12:47 AM PDT

Everyone’s now talking about mobile payments and mobile banking.  I was talking about that effectively as a core strategic area back in 2004.  So it took about five years to become the mainstream bank conversation.read more...

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Miss Carole Berreur

Posted: 24 May 2012 12:04 AM PDT

Carole is Programme Co-ordinator at the ICMA Centre responsible for the daily planning of all academic related issues including timetabling, test and exam preparation and production of course materials.

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Published / Preprint: Editorial Board

Posted: 23 May 2012 11:08 PM PDT

Published / Preprint: Forthcoming Articles

Posted: 23 May 2012 11:08 PM PDT

Published / Preprint: Volume 25 Number 6 June 2012 * The Review of Financial Studies - Table of Contents

Posted: 23 May 2012 11:08 PM PDT

Published / Preprint: The Life Cycle of Family Ownership: International Evidence

Posted: 23 May 2012 11:08 PM PDT

We show that in countries with strong investor protection, developed financial markets, and active markets for corporate control, family firms evolve into widely held companies as they age. In countries with weak investor protection, less developed financial markets, and inactive markets for corporate control, family control is very persistent over time. While family control in high investor...

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Published / Preprint: Creditor Control Rights, Corporate Governance, and Firm Value

Posted: 23 May 2012 11:08 PM PDT

We provide evidence that creditors play an active role in the governance of corporations well outside of payment default states. By examining the Securities and Exchange Commission's filings of all U.S. nonfinancial firms from 1996 through 2008, we document that, in any given year, between 10% and 20% of firms report being in violation of a financial covenant in a credit agreement. We show that...

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Published / Preprint: A Reexamination of Tunneling and Business Groups: New Data and New Methods

Posted: 23 May 2012 11:08 PM PDT

One of the most rigorous methodologies in the corporate governance literature uses firms' reactions to industry shocks to characterize the quality of governance. This methodology can produce the wrong answer unless one considers the ways firms compete. Because macro-level shocks reverberate differently at the firm level depending on whether a firm has a cost structure that requires significant...

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Published / Preprint: Dynamic Hedging in Incomplete Markets: A Simple Solution

Posted: 23 May 2012 11:08 PM PDT

We provide fully analytical, optimal dynamic hedges in incomplete markets by employing the traditional minimum-variance criterion. Our hedges are in terms of generalized "Greeks" and naturally extend no-arbitrage–based risk management in complete markets to incomplete markets. Whereas the literature characterizes either minimum-variance static, myopic, or dynamic hedges from which a hedger...

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Published / Preprint: Debt Financing and Financial Flexibility Evidence from Proactive Leverage Increases

Posted: 23 May 2012 11:08 PM PDT

Firms that intentionally increase leverage through substantial debt issuances do so primarily as a response to operating needs rather than a desire to make a large equity payout. Subsequent debt reductions are neither rapid, nor the result of proactive attempts to rebalance the firm's capital structure toward a long-run target. Instead, the evolution of the firm's leverage ratio depends primarily...

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Published / Preprint: Fiduciary Duties and Equity-debtholder Conflicts

Posted: 23 May 2012 11:08 PM PDT

We use an important legal event to examine the effect of managerial fiduciary duties on equity-debt conflicts. A 1991 legal ruling changed corporate directors' fiduciary duties in Delaware firms, limiting managers' incentives to take actions that favor equity over debt for distressed firms. After this, affected firms responded by increasing equity issues and investment and by reducing risk. The...

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Published / Preprint: Executive Compensation and the Role for Corporate Governance Regulation

Posted: 23 May 2012 11:08 PM PDT

This article establishes a role for corporate governance regulation. An externality operating through executive compensation motivates regulation. Governance lowers agency costs, allowing firms to grant less incentive pay. When a firm increases governance and lowers incentive pay, other firms can also lower executive compensation. Because firms do not internalize the full benefit of governance,...

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Blog Post: TheAlephBlog: 23,401 Auctions

Posted: 23 May 2012 09:42 PM PDT

I’m fascinated at the degree of hatred for high frequency trading [HFT] among my fellow portfolio managers, particularly those that live in the Baltimore area.  I have my own techniques for dealing with them: discretionary reserve orders, and not trading much.  If you are a longer-term investor, the games that exist in buying and selling in the short-run don’t matter much.  In my...

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Blog Post: Falkenblog: Early Low Vol Literature Now Everywhere

Posted: 23 May 2012 07:07 PM PDT

It sure would have helped if sites like lowvolatilitystocks.com were up back in 2007. It's Bob Haugen and Nardin Baker's new website and has lots of neat references on low volatility. Then there's a wikipedia page on the Low_volatility_anomaly, where I get to discover first hand how misleading Wikipedia is when you are well versed in something. Nonetheless, the Wiki page is pretty good...

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Financial Technology News Report is out! http://t.co/Jds9GCg0 : Top stories today via @LastiSoft @SunGardAssetMgt @ProgressSW

Posted: 23 May 2012 05:53 AM PDT

fin_tech: Financial Technology News Report is out! http://t.co/Jds9GCg0 â–¸ Top stories today via @LastiSoft @SunGardAssetMgt @ProgressSW

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Event: Introduction to Hedging with Futures - London

Posted: 25 Apr 2012 03:03 AM PDT

Location: The London Metal Exchange; Date: May 10th, 2012; This course will provide you with a thorough understanding of the basics of hedging with futures, covering market terminology, trading strategies and margining of LME futures contracts.read more...

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