MoneyScience News |
- Blog Post: TheFinancialServicesClub: 75% of banks aren't checking for money launderers
- Published / Preprint: Editorial Board
- Published / Preprint: Forthcoming Articles
- Published / Preprint: Volume 25 Number 11 November 2012 * The Review of Financial Studies - Table of Contents
- Published / Preprint: Asset Pricing and the Credit Market
- Published / Preprint: How Important is Having Skin in the Game? Originator-Sponsor Affiliation and Losses on Mortgage-backed Securities
- Published / Preprint: Pay for Performance from Future Fund Flows: The Case of Private Equity
- Published / Preprint: Cross-Listing, Investment Sensitivity to Stock Price, and the Learning Hypothesis
- Published / Preprint: Investment and Capital Constraints: Repatriations Under the American Jobs Creation Act
- Published / Preprint: Trading Fees and Efficiency in Limit Order Markets
- Published / Preprint: Realized Skewness
- Published / Preprint: Characterizing the development of sectoral Gross Domestic Product composition. (arXiv:1210.3543v1 [q-fin.GN])
- Blog Post: iMFdirect: Tharman Sees 'Greater Global Policy Resolveâ
- Event: 'Shaping Your Culture Via Risk Appetite' Free One Hour Webinar
| Blog Post: TheFinancialServicesClub: 75% of banks aren't checking for money launderers Posted: 15 Oct 2012 01:47 AM PDT I got a shock the other day. read more... Visit MoneyScience for the Complete Article.      |
| Published / Preprint: Editorial Board Posted: 15 Oct 2012 01:42 AM PDT    |
| Published / Preprint: Forthcoming Articles Posted: 15 Oct 2012 01:42 AM PDT    |
| Posted: 15 Oct 2012 01:42 AM PDT    |
| Published / Preprint: Asset Pricing and the Credit Market Posted: 15 Oct 2012 01:42 AM PDT This article studies the central role of the credit market. We show that the credit market facilitates optimal risk sharing by allowing less risk-averse investors to take on levered positions and consume more risk. The equilibrium amount behaves procyclically when aggregate consumption is low but countercyclically when it is high. The varying size of the credit market modifies the amount of risk... Visit MoneyScience for the Complete Article.    |
| Posted: 15 Oct 2012 01:42 AM PDT This article examines the relationship between a mortgage originator's affiliation with the sponsor of a securitization or the servicer of the securitized loans and the default rate on the securitized mortgages. We find that default rates are significantly lower for securitizations in which the originator is affiliated with the sponsor or servicer. Consistent with investors expecting performance... Visit MoneyScience for the Complete Article.    |
| Published / Preprint: Pay for Performance from Future Fund Flows: The Case of Private Equity Posted: 15 Oct 2012 01:42 AM PDT Lifetime incomes of private equity general partners (GPs) are affected by their current funds' performance not only directly, through carried interest profit-sharing provisions, but also indirectly by the effect of the current fund's performance on GPs' abilities to raise capital for future funds. In the context of a rational learning model, which we show better matches the empirical relations... Visit MoneyScience for the Complete Article.    |
| Posted: 15 Oct 2012 01:42 AM PDT Cross-listed firms in the United States have a higher investment-to-price sensitivity than do firms that never cross-list. This difference is strong, does not exist prior to the cross-listing date, and does not vanish afterward. Moreover, it does not appear to be primarily driven by improvements in governance, disclosure, and access to capital associated with a U.S. cross-listing. Instead, we... Visit MoneyScience for the Complete Article.    |
| Posted: 15 Oct 2012 01:42 AM PDT The American Jobs Creation Act (AJCA) significantly lowered U.S. firms' tax cost when accessing their unrepatriated foreign earnings. Using this temporary shock to the cost of internal financing, we examine the role of capital constraints in firms' investment decisions. Controlling for the capacity to repatriate foreign earnings under the AJCA, we find that a majority of the funds repatriated by... Visit MoneyScience for the Complete Article.    |
| Published / Preprint: Trading Fees and Efficiency in Limit Order Markets Posted: 15 Oct 2012 01:42 AM PDT Competition among trading platforms has considerably reduced trading fees in stock markets. We show that this evolution is not necessarily beneficial to investors. Although they increase gains from trade when a trade happens, lower trading costs can induce investors to post limit orders with a smaller execution probability. In this case, gains from trade are realized less frequently and investors... Visit MoneyScience for the Complete Article.    |
| Published / Preprint: Realized Skewness Posted: 15 Oct 2012 01:42 AM PDT The third moment of returns is important for asset pricing, but it is hard to measure precisely, particularly at long horizons. This paper proposes a definition of the realized third moment that is computed from high-frequency returns. It provides an unbiased estimate of the true third moment of long-horizon returns, doing for the third moment what realized variance does for the second moment.... Visit MoneyScience for the Complete Article.    |
| Posted: 14 Oct 2012 05:35 PM PDT We consider the sectoral composition of a country's GDP, i.e the division into agrarian, industrial, and service sectors. Exploring a simple system of differential equations we characterize the transfer of GDP shares between the sectors in the course of economic development. The model fits for the majority of countries providing 4 country-specific parameters. Relating the agrarian with the... Visit MoneyScience for the Complete Article.    |
| Blog Post: iMFdirect: Tharman Sees 'Greater Global Policy Resolveâ Posted: 14 Oct 2012 08:14 AM PDT “Although the economic environment has weakened, the policy resolve has strengthened.” This is how Tharman Shanmugaratnam, Singapore’s Deputy Prime Minister and Minister for Finance , who is Chair of the IMF’s policy-setting committee, described the outcome of the IMF-World Bank annual meetings in Tokyo.read more... Visit MoneyScience for the Complete Article.    |
| Event: 'Shaping Your Culture Via Risk Appetite' Free One Hour Webinar Posted: 15 Aug 2012 08:43 AM PDT Location: Online; Date: October 18th, 2012; Join Andrew Smart, the CEO of StratexSystems, as he presents a one-hour webinar on Shaping Your Organisational Culture via Risk Appetite. He will explain briefly explain risk appetite and how it can be linked into the overall strategy and risk management process of an organisation. He will then go on to explain how Risk Appetite statements work... Visit MoneyScience for the Complete Article.    |
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