Mortgage assumption allows a borrower to transfer both the property and the outstanding balance of their mortgage to a new homebuyer. Assumption of a loan has value when the note rate is below prevailing market rates. However, assumptions also create risk for lenders and insurers. This paper...

I develop a dynamic model of bank runs that allows me to study important phenomena such as the role of information externalities and herd behavior of depositors as a source of bank runs. I show that eliminating bank runs completely, even they can be generated by herd behavior of depositors, has...

This paper examines the association between pre-disclosure uncertainty and investor reliance on reported earnings. Our study is unique because it incorporates both context-specific and forecast-based measures of uncertainty. The analysis is based on data for 118 publicly-traded property and...

The purpose of this study is to determine what firm-specific factors affect the risk of insurance companies. Traditional methods used to identify potential failures have been severely criticized. Thus, alternative approaches to risk assessment should be of interst to investors and managers of...

Korean Abstract: 본 연구는 CD 유통수익률, 실업률, 경기동행지수, 소비자물가지수, 코스피지수 등의 거시경제변수가 변액연금 및 변액유니버셜보험의 해지율에 어떠한 영향을 미치는지를 구조적 벡터자기회귀(SVAR) 모형을...

Money is not everything in life but money is the most important need of everyone's life. This paper describes the value of money which changed over a period of time. It also explain the important factor i.e. interest, due to which the value of money changes. This paper also discussed the...

Mutual fund plays a crucial role in the Indian economy. Mutual funds are considered to be the vehicle for mobilization and channelization of savings from individual investors to towards the various capital market instruments. Evaluation of the performance of mutual funds particularly is of a...

German Abstract: Der Beitrag zeigt die Anlageergebnisse dreier quantitativer Strategien im Vergleich zu Anlageergebnissen in einen Index. Verglichen werden die Anlage-Ergebnisse bei Nutzung einer Diskriminanzanalyse, Elemination des Systematischen Risikos nach Scholtz und einer schrittweisen...

Floods and droughts represent an embedded monsoon factor impacting the Indian economy. Evaluating monsoon risk based on rainfall index metrics could help design appropriate alternative risk transfer products. This study proposes a new set of rainfall indices that can be used to explore the...