Eine von Praktikern f¨ur den US–amerikanischen Aktienmarkt häufig verwendeteFaustregel besagt, daß aus einem positiven Anstieg des Aktienindex innerhalb der erstenfünf Börsentage eines Jahres auf eine positive Entwicklung des Aktienindex fürdas gesamte Kalenderjahr geschlossen werden...

From a financial point of view, loan guarantees can be seen as put options on parts of the company's value. Usually, loan guarantees are valued by the model by Merton. This model, however, assumes that there are neither interest payments nor repayments of the loan itself (be it guaranteed or...

Theory emphasizes the central role of the structure of networks in the behavior of financial systems and their response to policy. Real-world networks, however, are rarely directly observable: Banks' assets and liabilities are typically known, but not who is lending how much and to whom. We...