Friday, November 7, 2014

MoneyScience News

MoneyScience News


Coolest jobs in tech (literally): running a South Pole data center

Posted: 07 Nov 2014 01:47 AM PST

Running a South Pole data center http://t.co/3JVTfd8Hlt — Markus Sagebiel (@msgbi) November 7, 2014

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The surprising math of cities and corporations

Posted: 07 Nov 2014 01:32 AM PST

The surprising math of cities and corporations: http://t.co/dh1AdMr3K9 — Vikas Shah (@MrVikas) November 7, 2014

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Blog Post: TheFinancialServicesClub: Retailer banking: it's just not the same

Posted: 06 Nov 2014 08:47 PM PST

We talk a lot about challenger banks.  These are the new banks that will create competition against the incumbents.  The names thrown around include Metro Bank, Virgin Money, Tesco Bank, Aldemore, Shawnbrook and more.  Although none of these have gained significant market share yet, the hope is they will against the Big Four: Barclays, HSBC, RBS/NatWest and Lloyds.  In...

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Published / Preprint: Yesterday's Heroes: Compensation and Risk at Financial Firms Forthcoming, Journal of Finance

Posted: 06 Nov 2014 08:06 PM PST

Many believe that compensation, misaligned from shareholders’ value due to managerial entrenchment, caused financial firms to take creative risks before the financial crisis of 2008. We argue that even in a classical principal-agent setting without entrenchment and with exogenous firm risk, riskier firms may offer higher total pay as compensation for the extra risk in equity stakes born by...

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Published / Preprint: The Effect of Succession Taxes on Family Firm Investment: Evidence from a Natural Experiment

Posted: 06 Nov 2014 08:06 PM PST

This paper provides causal evidence on the impact of succession taxes on firm investment decisions and transfer of control. Using a 2002 policy change in Greece that substantially reduced the tax on intrafamily transfers of businesses, I show that succession taxes lead to a more than 40% decline in investment around family successions, slow sales growth, and a depletion of cash reserves....

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Vendor News: Infosys and Tableau Software Partner on Next-Generation Business Intelligence and Visualization

Posted: 06 Nov 2014 07:21 PM PST

Infosys, a global leader in technology, consulting, outsourcing and next-generation services, today announced a strategic partnership with Tableau Software (NYSE: DATA), a global leader in rapid-fire, easy-to-use business analytics software.

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Published / Preprint: Income Distribution in the European Union Versus in the United States. (arXiv:1411.1560v1 [q-fin.GN])

Posted: 06 Nov 2014 05:37 PM PST

We prove that the refined approach -- our extension of the Yakovenko et al. formalism -- is universal in the sense that it describes well both household incomes in the European Union and the individual incomes in the United States for social classes of any income. This formalism allowed the study of the impact of the recent world-wide financial crisis on the annual incomes of different social...

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Published / Preprint: General smile asymptotics with bounded maturity. (arXiv:1411.1624v1 [q-fin.PR])

Posted: 06 Nov 2014 05:37 PM PST

We provide explicit conditions on the distribution of risk-neutral log-returns which yield sharp asymptotic estimates on the implied volatility smile. Our results extend previous work of Benaim and Friz [Math. Finance 19 (2009), 1-12] and are valid in great generality, both for extreme strike (with arbitrary bounded maturity, possibly varying with the strike) and for small maturity (with...

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Published / Preprint: Universality of Tsallis q-exponential of interoccurrence times within the microscopic model of cunning agents. (arXiv:1411.1689v1 [q-fin.ST])

Posted: 06 Nov 2014 05:37 PM PST

We proposed the agent-based model of financial markets where agents (or traders) are represented by three-state spins located on the plane lattice or social network. The spin variable represents only the individual opinion (advice) that each trader gives to his nearest neighbors. In the model the agents can be considered as cunning. For instance, although agent having currently a maximal value of...

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Blog Post: iMFdirect: Top Five Policy Priorities to Brighten America's Economic Future

Posted: 06 Nov 2014 08:16 AM PST

By Deniz Iganread more...

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Published / Preprint: 06Nov/Supporting information on global systemically important banks published by the Basel Committee

Posted: 06 Nov 2014 08:06 AM PST

Press release about the Basel Committee publishing supporting information on global systemically important banks (6 November 2014)

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Vendor News: November 6, 2014 - SS&C announces Executive Promotions to strengthen Private Equity and EMEA Alternative Assets teams

Posted: 06 Nov 2014 06:07 AM PST

Blog Post: TheAlephBlog: Problems in Simulating Investment Returns

Posted: 06 Nov 2014 05:57 AM PST

Photo Credit: Hans and Carolyn || Do you have the right building blocks for your model?read more...

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