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Fry and Kochhar (2014) show that the median wealth of American upper-income families is 7 (70) times that of the median- (low-) income families. To reduce this wealth inequality, the affordable financial services made possible by FinTech should be accessible by all the families. Our universities...
Persistent link: https://www.econbiz.de/10013492457
So-called cryptocurrencies have been in the news quite a lot recently, following Bitcoin trading on 1st September at US$4,904. For devotees of Bitcoin, this price action led to calls that it should now be taken seriously as a legitimate currency, whereas Jamie Dimon is among those who sees the...
Persistent link: https://www.econbiz.de/10013403037
At present, Sci-Tech enterprises face various challenges when it comes to debt financing. First, in their infancy, Sci-Tech enterprises may suffer from problems, such as under-developed corporate governance, unstable cash flows, unpredictable recovery of accounts receivable, all of which...
Persistent link: https://www.econbiz.de/10013403641
Based on the practice of credit bond financing of science and technology (sci-tech) enterprises in China and the … relevant international experience, this paper puts forward the institutional innovation suggestions, a pilot program scheme and … risk control measures for further development of sci-tech bonds. Institutional innovation suggestions include selecting …
Persistent link: https://www.econbiz.de/10013403642
The central data exchange platform for wealth management products consists of three major components, namely, a data exchange system, a central management system and a client management system. The central data exchange platform can effectively support the safe and sound implementation and...
Persistent link: https://www.econbiz.de/10013403686
It is a challenge to estimate fund performance by compounded returns. Arguably, it is incorrect to use yearly returns directly for compounding, with reported annualized return of above 60% for Medallion for the 31 years up to 2018. We propose an estimation based on fund sizes and trading profits...
Persistent link: https://www.econbiz.de/10013403696
The carbon price of risk is commonly measured as the return spread between high and low carbon emitting firms. We show how this return spread is related to an original time-series factor: an emissions-weighted carbon factor. Two new methodologies are then introduced: one to decompose this return...
Persistent link: https://www.econbiz.de/10013403705
Evaluating the performance of Alternative Risk Premia products as standalone investments is not sufficient to conclude whether these products add value to institutional investors, whose portfolios are largely composed of well-diversified equity and bond allocations, and usually smaller ones to...
Persistent link: https://www.econbiz.de/10013403707
Alternative Risk Premia investment products have attracted substantial interest of institutional investors in the recent decade, as they are supposed to provide risk premia other than traditional equity and bond premia in which investors already have exposure to. This article reviews the...
Persistent link: https://www.econbiz.de/10013403708
This study aims at analyzing the ability of managers of Alternative Risk Premia (ARP) portfolios to outperform benchmarks and to deliver alphas. Using a sample of more than 200 ARP indices, we first distinguish performance between allocation strategy and picking ability. Our first results show...
Persistent link: https://www.econbiz.de/10013403709