Tuesday, August 18, 2015

MoneyScience News

MoneyScience News


Vendor News: Fidelity Bank of Nigeria Selects Finacle Version 10 to Drive Innovation and Growth

Posted: 18 Aug 2015 04:06 AM PDT

Infosys Finacle, part of EdgeVerve Systems, a product subsidiary of Infosys (NYSE: INFY), today announced that Fidelity Bank Plc., Nigeria, one of the fastest growing Commercial Banks in Africa, will migrate its core banking platform from Finacle version 7 to Finacle version 10.

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Blog Post: TheAlephBlog: Book Review: Excess Returns

Posted: 18 Aug 2015 12:57 AM PDT

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Published / Preprint: A conjecture about the efficiency of first price mechanisms. (arXiv:1508.03651v1 [q-fin.EC])

Posted: 17 Aug 2015 05:37 PM PDT

We present different versions of a conjecture which would express that first price mechanisms never work very badly in a very general class of problems. The definitions include most of the problems where there is a principal (seller) who has the right to exclude others from the game. The exact definitions are motivated by the "first price mechanism" in E Cs: "Efficient Teamwork", but...

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Published / Preprint: New Analytical Solutions of a Modified Black-Scholes Equation with the European Put Option. (arXiv:1508.03841v1 [q-fin.CP])

Posted: 17 Aug 2015 05:37 PM PDT

Using Maple, we compute some analytical solutions of a modified Black-Scholes equation, recently proposed, in the case of the European put option. We show that the modified Black-Scholes equation with the European put option is exactly solvable in terms of associated Laguerre polynomials. We make some numerical experiments with the analytical solutions and we compare our results with the results...

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Published / Preprint: Transfer pricing manipulation, tax penalty cost and the impact of foreign profit taxation. (arXiv:1508.03853v1 [q-fin.EC])

Posted: 17 Aug 2015 05:37 PM PDT

This paper analizes the optimal level of transfer pricing manipulation when the expected tax penalty is a function of the tax enforcement and the market price parameter. The arm's length principle implies the existence of a range of acceptable prices shaped by market, and firms can manipulate transfer prices more freely if market price range is wide, or if its delimitations are difficult to...

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Published / Preprint: Optimal Taxation with Endogenous Default under Incomplete Markets. (arXiv:1508.03924v1 [q-fin.EC])

Posted: 17 Aug 2015 05:37 PM PDT

In a dynamic economy, we characterize the fiscal policy of the government when it levies distortionary taxes and issues defaultable bonds to finance its stochastic expenditure. Default may occur in equilibrium as it prevents the government from incurring in future tax distortions that would come along with the service of the debt. Households anticipate the possibility of default generating...

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