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Optimal Risk-Sharing in Mortgage Contracts: The Effects of Potential Prepayment and Default
Brueckner, Jan K.; Lee, Kangoh - CESifo - 2014
termination via prepayment or default affects optimal risk-sharing. The broad conclusion of the analysis is that potential … of optimal risk-sharing in mortgage contracts. But since only a small literature has studied this question, more research … mortgage termination makes higher risk exposure for borrowers optimal. …
Persistent link: https://www.econbiz.de/10010948814
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Resilience, Sustainability and Risk Management: A Focus on Energy
McLellan, Benjamin; Zhang, Qi; Farzaneh, Hooman; Utama, … - In: Challenges 3 (2012) 2, pp. 153-182
importance of resilience and risk mitigation in the construction of energy infrastructure. This article introduces some of the …
Persistent link: https://www.econbiz.de/10011030466
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Mortgage Prepayment and Default Behavior with Embedded Forward Contract Risks in China’s Housing Market
Deng, Yongheng; Liu, Peng - In: The Journal of Real Estate Finance and Economics 38 (2009) 3, pp. 214-240
. This explains the phenomenon of irregularly high early-stage default and prepayment rates observed in residential mortgage … risk sharing between mortgage borrowers’ groups in the forward and spot housing markets leads to mispricing in secondary … underlying property that is not yet completed. During the pre-sale period home buyers face a significant forward contract risk …
Persistent link: https://www.econbiz.de/10010866982
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The Financial Psychology of Worry and Women
Ricciardi, Victor - 2008
This paper provides a review of significant academic studies and non-academic research endeavors in the realm of negative emotions (with an emphasis on worry), gender, and decision making. The author encourages behavioral finance researchers to place greater attention into the development of new...
Persistent link: https://www.econbiz.de/10012725519
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Stock Market Volatility and Macroeconomic Uncertainty : Evidence from Survey Data
Arnold, Ivo J.M. - 2008
This paper provides empirical evidence on the link between stock market volatility and macroeconomic uncertainty. We show that US stock market volatility is significantly related to the dispersion in economic forecasts from SPF survey participants over the period from 1969 to 1996. This link is...
Persistent link: https://www.econbiz.de/10012727112
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On the Conceptual Inadequacy of the Original Cost Regulatory System
Jensen, Michael C. - 2008
The original cost regulatory system, as currently used in the regulation of utilities and natural gas pipelines, cannot emulate the response of a competitive firm to high and varying inflation. Although there can be many problems introduced by regulatory lag and by high administrative and...
Persistent link: https://www.econbiz.de/10012727588
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Does Expectations Management Impair the Usefulness of Analyst Forecasts in Firm Valuation?
Tian, Yao - 2007
In this paper, I examine how expectations management for the purpose of meeting or beating analyst expectations (MBE) impairs the ability of analyst forecast-based valuation models to predict firms' intrinsic values. I predict that management's manipulation of analyst expectations introduces...
Persistent link: https://www.econbiz.de/10012730850
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Some Basic Properties of Financial Ratios : Evidence from an Emerging Capital Market
Muhamad Sori, Zulkarnain - 2007
This study investigates the distributional characteristics and appropriate remedial actions of selected financial ratios from failed and non-failed Malaysian listed firms. A total of 66 listed firms with 330 observations and 65 variables were examined for the period from 1980 to 1996. The...
Persistent link: https://www.econbiz.de/10012731581
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Adam Smith and the Chicago School
Medema, Steven G. - 2007
Adam Smith's discussion of the system of natural liberty, its effects on the functioning of the market system, and the resultant implications for the economic role of the state has formed the basis of much of the subsequent economic literature analyzing the interplay of market and state. While...
Persistent link: https://www.econbiz.de/10012731768
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A Closer Look at Business Education - Finance
Leimsider, Rich - 2006
According to Wikipedia, Finance quot;studies and addresses the ways in which individuals, businesses and organizations raise, allocate and use monetary resources over time.quot; To many people, finance is business. Many of the brightest stars in the business world - from Wall Street bankers to...
Persistent link: https://www.econbiz.de/10012733236