MoneyScience News |
- Published / Preprint: Cover
- Published / Preprint: Editorial Board
- Published / Preprint: Forthcoming Articles
- Published / Preprint: Volume 25 Number 8 August 2012 * The Review of Financial Studies - Table of Contents
- Published / Preprint: Bank Bailouts and Moral Hazard: Evidence from Germany
- Published / Preprint: Loan Prospecting
- Published / Preprint: Securitization, Transparency, and Liquidity
- Published / Preprint: Trust and Credit: The Role of Appearance in Peer-to-peer Lending
- Published / Preprint: Are Investors Really Reluctant to Realize Their Losses? Trading Responses to Past Returns and the Disposition Effect
- Published / Preprint: Educational Networks, Mutual Fund Voting Patterns, and CEO Compensation
- Published / Preprint: No Place Like Home: Familiarity in Mutual Fund Manager Portfolio Choice
- Published / Preprint: How Do Retirees Value Life Annuities? Evidence from Public Employees
- Blog Post: TheFinancialServicesClub: Get ready for Facebook banking
- The Financial Education Daily is out! http://t.co/TYluKzUv
- Blog Post: TheAlephBlog: The SEC Should Make Illegal the Advertising of Stocks
- Published / Preprint: A higher order correlation unscented Kalman filter. (arXiv:1207.4300v1 [stat.ME])
- Published / Preprint: Vine Constructions of Levy Copulas. (arXiv:1207.4309v1 [stat.OT])
- Delegation from Cass Business School visits Dubai International Financial Center
- Blog Post: iMFdirect: Signs of Fiscal Progress: Will It Be Enough?
- Financial Technology News Report is out! http://t.co/Jds9GCg0 : Top stories today via @WatersTech @JuniperNetworks @Roustech
- Event: Introduction to the London Metal Exchange - Singapore
| Posted: 19 Jul 2012 04:28 AM PDT      |
| Published / Preprint: Editorial Board Posted: 19 Jul 2012 04:28 AM PDT    |
| Published / Preprint: Forthcoming Articles Posted: 19 Jul 2012 04:28 AM PDT    |
| Posted: 19 Jul 2012 04:28 AM PDT    |
| Published / Preprint: Bank Bailouts and Moral Hazard: Evidence from Germany Posted: 19 Jul 2012 01:00 AM PDT We use a structural econometric model to provide empirical evidence that safety nets in the banking industry lead to additional risk taking. To identify the moral hazard effect of bailout expectations on bank risk, we exploit the fact that regional political factors explain bank bailouts but not bank risk. The sample includes all observed capital preservation measures and distressed exits in the... Visit MoneyScience for the Complete Article.    |
| Published / Preprint: Loan Prospecting Posted: 19 Jul 2012 01:00 AM PDT We analyze corporate lending when loan officers must be incentivized to prospect for loans and to transmit the soft information they obtain in that process. We explore how this multi-task agency problem shapes loan officers' compensation, banks' use of soft information in credit approval, and their lending standards. When competition intensifies, prospecting for loans becomes more important and... Visit MoneyScience for the Complete Article.    |
| Published / Preprint: Securitization, Transparency, and Liquidity Posted: 19 Jul 2012 01:00 AM PDT We present a model in which issuers of asset-backed securities choose to release coarse information to enhance the liquidity of their primary market, at the cost of reducing secondary market liquidity. The degree of transparency is inefficiently low if the social value of secondary market liquidity exceeds its private value. We show that various types of public intervention (mandatory... Visit MoneyScience for the Complete Article.    |
| Published / Preprint: Trust and Credit: The Role of Appearance in Peer-to-peer Lending Posted: 19 Jul 2012 01:00 AM PDT Although it is well known that appearance-based impressions affect labor market and election outcomes, little is known about the role appearance plays in financial transactions. We address this question using photographs of potential borrowers from a peer-to-peer lending site. Consistent with the trust-intensive nature of lending, we find that borrowers who appear more trustworthy have higher... Visit MoneyScience for the Complete Article.    |
| Posted: 19 Jul 2012 01:00 AM PDT We examine how investor preferences and beliefs affect trading in relation to past gains and losses. The probability of selling as a function of profit is V-shaped; at short holding periods, investors are more likely to sell big losers than small ones. There is little evidence of an upward jump in selling at zero profits. These findings provide no clear indication that realization preference... Visit MoneyScience for the Complete Article.    |
| Published / Preprint: Educational Networks, Mutual Fund Voting Patterns, and CEO Compensation Posted: 19 Jul 2012 01:00 AM PDT Mutual funds whose managers are in the same educational network as the firm's CEO are more likely to vote against shareholder-initiated proposals to limit executive compensation than out-of-network funds are. This voting propensity is stronger when voting among the funds in a family is not unanimous. Furthermore, CEOs of firms who have relatively high levels of educationally connected mutual fund... Visit MoneyScience for the Complete Article.    |
| Published / Preprint: No Place Like Home: Familiarity in Mutual Fund Manager Portfolio Choice Posted: 19 Jul 2012 01:00 AM PDT We show that familiarity affects the portfolio decisions of mutual fund managers. Controlling for fund location, funds overweight stocks from their managers' home states by 12% compared with their peers. In team-managed funds, home-state overweighting is 37% larger than the fund location effect. The home-state bias is stronger if the manager is inexperienced, is resource-constrained, or spent... Visit MoneyScience for the Complete Article.    |
| Published / Preprint: How Do Retirees Value Life Annuities? Evidence from Public Employees Posted: 19 Jul 2012 01:00 AM PDT Because life annuities can increase the level and decrease the volatility of lifetime consumption, economists have long been puzzled by the low demand for life annuities. One potential rational explanation is that adverse selection drives up life annuity prices, which drives down demand. We study the choice between life annuities and lump sums made by 32,000 retiring public employees. These... Visit MoneyScience for the Complete Article.    |
| Blog Post: TheFinancialServicesClub: Get ready for Facebook banking Posted: 19 Jul 2012 12:41 AM PDT There’s a buzz that’s started about Facebook banking asCommonwealth Bank of Australia and ICICI Bank get into Facebook banking apps, with Citibank fast to follow.read more... Visit MoneyScience for the Complete Article.    |
| The Financial Education Daily is out! http://t.co/TYluKzUv Posted: 19 Jul 2012 12:21 AM PDT BusinessSchools: The Financial Education Daily is out! http://t.co/TYluKzUv Visit MoneyScience for the Complete Article.    |
| Blog Post: TheAlephBlog: The SEC Should Make Illegal the Advertising of Stocks Posted: 18 Jul 2012 11:29 PM PDT First, the promoted penny stock scorecard:read more... Visit MoneyScience for the Complete Article.    |
| Posted: 18 Jul 2012 05:31 PM PDT Many nonlinear extensions of the Kalman filter, e.g., the extended and the unscented Kalman filter, reduce the state densities to Gaussian densities. This approximation gives sufficient results in many cases. However, this filters only estimate states that are correlated with the observation. Therefore, sequential estimation of diffusion parameters, e.g., volatility, which are not correlated with... Visit MoneyScience for the Complete Article.    |
| Published / Preprint: Vine Constructions of Levy Copulas. (arXiv:1207.4309v1 [stat.OT]) Posted: 18 Jul 2012 05:31 PM PDT Levy copulas are the most natural concept to capture jump dependence in multivariate Levy processes. They translate the intuition and many features of the copula concept into a time series setting. A challenge faced by both, distributional and Levy copulas, is to find flexible but still applicable models for higher dimensions. To overcome this problem, the concept of pair copula constructions has... Visit MoneyScience for the Complete Article.    |
| Delegation from Cass Business School visits Dubai International Financial Center Posted: 18 Jul 2012 06:49 AM PDT MBA Students from Cass Business School in London visit DIFC during five-day tour of Dubai and Abu Dhabi Visit MoneyScience for the Complete Article.    |
| Blog Post: iMFdirect: Signs of Fiscal Progress: Will It Be Enough? Posted: 18 Jul 2012 06:27 AM PDT read more... Visit MoneyScience for the Complete Article.    |
| Posted: 18 Jul 2012 05:48 AM PDT fin_tech: Financial Technology News Report is out! http://t.co/Jds9GCg0 â–¸ Top stories today via @WatersTech @JuniperNetworks @Roustech Visit MoneyScience for the Complete Article.    |
| Event: Introduction to the London Metal Exchange - Singapore Posted: 25 Apr 2012 04:49 AM PDT Location: Toronto; Date: July 3rd, 2012; This course offers you a solid introduction to the services provided by the London Metal Exchange. It provides an in-depth overview of operations, structure, products, trading terminology and procedures.read more... Visit MoneyScience for the Complete Article.    |
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