Showing 1 - 10 of 47
The main result of this paper consists in the resolution of the inverse problem for the Black-Cox (1976) model, using the method proposed by Sukhomlin (2007). Based on the backward approach, we obtain an exact expression of the implied volatility expressed as a function of quantifiable market...
Persistent link: https://www.econbiz.de/10009957380
The purpose of this research is to investigate the weak form of market efficiency of Asian four selected stock markets. We have taken a daily closing price of stock markets under the study from the 1st January 2000 to 31st March 2011 and also divided full sample in three interval periods, and...
Persistent link: https://www.econbiz.de/10010009119
The article presents the analysis of determinants of banks' competitiveness in local financial markets, with respect to local (cooperative) banks and branches of large commercial banks. The paper also evaluates the competitive position of the banks using the synthetic measure of competitive...
Persistent link: https://www.econbiz.de/10010009386
Commercial banks are typical hierarchical organizations, in which the multipleprincipal-agent problem exists and induces serious internal collusive corruption. This article analyzes the collusive corruption between credit supervisors and credit managers in bank credit activities, through three...
Persistent link: https://www.econbiz.de/10010009110
Disclosure of private medical information allows insurance companies to better predict medical expenditures. The premiums the companies charge the insured employees reflect these expenditures. This paper studies incentives of employees to disclose their medical information. I find that healthier...
Persistent link: https://www.econbiz.de/10010097676
This paper analyzes the determinants of governance transparency. In our model, entrepreneurs optimally decide the precision of their earning reporting by trading off the possibility of expropriating profits against the capacity to attract external funding.We find that information is only...
Persistent link: https://www.econbiz.de/10010148154
In a relatively recent paper, Gehrig and Stenbacka (Eur Econ Rev 51, 77–99, 2007) show that information sharing increases banks’ profits to the detriment of creditworthy entrepreneurs in a model of a banking duopoly with switching costs and poaching. They restrict their analysis to the case...
Persistent link: https://www.econbiz.de/10010148159
Nach einer Serie von Lebensmittelskandalen ist das Vertrauen der Verbraucher in die Industrie erschüttert. Kritik schlägt dabei nicht nur den Herstellern selbst, sondern auch den Anbietern von Gütesiegeln entgegen, die Produkte leichtfertig zertifiziert haben. Die Rufe nach gesteigerter...
Persistent link: https://www.econbiz.de/10010148248
Dividend policy is one of controversial financial issues. There are various theories about dividend but in this study, the focus is on empirical test of signaling theory. This theory says that the payment of dividends provides information for investors and analysts. The aim of this study is...
Persistent link: https://www.econbiz.de/10010058681
This paper examines the factors that affect inflows - outflows of capital in bond mutual funds that operated in the Greek market during the period 1997-2005. Investors in bond mutual funds do not seek for high gross returns in order to determine their investment decisions in contrast with...
Persistent link: https://www.econbiz.de/10009958067