Chapter 2: How Airline Markets Work...Or Do They? Regulatory Reform in the Airline Industry Severin Borenstein and Nancy L. Rose October 2008 Severin Borenstein is E.T. Grether Professor of Business Administration and Public Policy at the Haas School of Business, U.C. Berkeley (www.haas.berkeley.edu), Director of the University of California Energy Institute (www.ucei.org), and a Research Associate of the National Bureau of Economic Research (www.nber.org). Address: Haas School of Business
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FIN30014 Financial Risk Management Topic Outline, Reading and Tutorial Questions Semester 2, 2015 ------------------------------------------------- Topic 1: Introduction to Derivatives and Financial Risk Management ------------------------------------------------- Mechanics of Futures Markets Topic Outline * Financial risk management – an overview * The nature of derivatives and their
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Foundations and Trends R in Finance Vol. 4, No. 4 (2009) 247–325 c 2010 V. V. Acharya, T. Cooley, M. Richardson and I. Walter DOI: 10.1561/0500000025 Manufacturing Tail Risk: A Perspective on the Financial Crisis of 2007–2009 By Viral V. Acharya, Thomas Cooley, Matthew Richardson and Ingo Walter Contents 1 Introduction 2 How Did We Get There? 2.1 2.2 2.3 The Panic of 1907 and Its Aftermath Bank Competition, Financial Innovation and Risk-Taking in the Last Decades of the 20th Century Risk-Taking
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overvaluation exposes managers to greater risk of deviating from the index than trading against undervaluation, agency frictions bias the aggregate market upwards. They can also generate a negative relationship between risk and return because they raise the volatility of overvalued assets. Socially optimal contracts provide steeper performance incentives and cause larger pricing distortions than privately optimal contracts. buffa@bu.edu, d.vayanos@lse.ac.uk, p.k.woolley@lse.ac.uk. We thank Sergey Chernenko
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10 October 2011 Europe Equity Research Diversified Metals & Mining (Metals & Mining) Glencore and Xstrata Research Analysts Liam Fitzpatrick 44 20 7883 8350 liam.fitzpatrick@credit-suisse.com Michael Shillaker 44 20 7888 1344 michael.shillaker@credit-suisse.com Nihal Shah 44 20 7888 3270 nihal.shah@credit-suisse.com James Gurry 44 20 7883 7083 james.gurry@credit-suisse.com Specialist sales: James McGeoch +44 20 7888 0751 james.mcgeoch@credit-suisse.com COMPANY UPDATE Merger potential ahead
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University of Florence Faculty of Economy Master’s Degree in Bank, Insurance and Financial Markets Thesis in Applied Statistics for Banks and Insurances Credit Risk Models: Single Firm Default and Contagion Default Analysis Supervisor: P rof essor Fabrizio Cipollini Student: Marco Gambacciani Academic Year 2009/2010 Contents Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Structural Models 1.1 Terminal Default . . . . . . . . . . . . 1.2 First Passage Models
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Tools which are popular for valuing financial options, such as Black Scholes analysis, can be used to determine the value of real options. However, Black Scholes analysis has been criticized for its unintuitive approach to real options and also for its difficulty in determining the volatility of an investment. The purpose of this thesis is to investigate whether or not a second order moment approach can
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Prerp Final Exam 410, Prisi Part I (70%) 1) Consider two firms, Thither and Yon. Both companies will either make $30 million or lose $10 million every year with equal probability. The companies' profits are perfectly negatively correlated. What are the expected after-tax profits of Thither in any year, assuming a corporate tax rate of 35% and no tax loss carry back or carry forward? A) $19.5 million B) $6.5 million C) $4.75 million D) -$6.5 million 2) Consider two firms, Thither and Yon
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Credit Opinion: R.R. Donnelley & Sons Company Global Credit Research - 13 Aug 2013 Chicago, Illinois, United States Ratings Category Moody's Rating Outlook Corporate Family Rating Sr Sec Bank Credit Facility Senior Unsecured Commercial Paper Speculative Grade Liquidity Negative Ba2 Baa2/LGD1 Ba3/LGD4 NP SGL-2 Contacts Analyst Phone Bill Wolfe/Toronto Donald S. Carter, CFA/Toronto 416.214.3847 416.214.3851 Key Indicators R.R. Donnelley & Sons Company 2010 2011 2012 LTM Q2-2013
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UVA-F-1483 Version 2.3 WARREN E. BUFFETT, 2005 On May 24, 2005, Warren E. Buffett, the chairperson and chief executive officer (CEO) of Berkshire Hathaway Inc., announced that MidAmerican Energy Holdings Company, a subsidiary of Berkshire Hathaway, would acquire the electric utility PacifiCorp. In Buffett’s largest deal since 1998, and the second largest of his entire career, MidAmerican would purchase PacifiCorp from its parent, Scottish Power plc, for $5.1 billion in cash and $4.3 billion in
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