{"title":"Forecast Sales for the Company XYZ Industry Nace 85.4","authors":"Madgalena Dziubińska","doi":"10.2139/SSRN.2254363","DOIUrl":"https://doi.org/10.2139/SSRN.2254363","url":null,"abstract":"The aim of this report is to present the revenue forecast by percentage of sales for the company XYZ industry NACE 85.4. The paper contains a description of the branch industry and analyzed subject, and a profile of the method and its predictions practical application in the audited company.","PeriodicalId":154391,"journal":{"name":"ERN: Other Econometrics: Applied Econometric Modeling in Financial Economics - Econometrics of Financial Markets Regulation (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-04-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129218269","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A Long-Term Approach to Italian Banks’ Profitability: Paradise Lost?","authors":"Giuseppe Lusignani, M. Onado","doi":"10.2139/ssrn.2171157","DOIUrl":"https://doi.org/10.2139/ssrn.2171157","url":null,"abstract":"The paper examines the long-term profitability of the Italian banking system (1965-2011), which has three interesting features: it has always been oriented to traditional intermediation; it underwent a significant process of privatization, consolidation and modernization; it proved to be very robust when the financial crisis burst. However at present, both Roa and Roe have reached the low levels of previous troughs. In a sense, the Italian banking system seems to be again at square one. Our analysis shows that the most important driver of profitability has been the decline of the margins since the late 1980s and that a reversal of this trend does not seem likely in the foreseeable future. Therefore, future rebounds of profitability can only come from significant actions of rationalization, which apparently have not been delivered in the past wave of mergers.","PeriodicalId":154391,"journal":{"name":"ERN: Other Econometrics: Applied Econometric Modeling in Financial Economics - Econometrics of Financial Markets Regulation (Topic)","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-11-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126646014","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Investigating Implied Asset Correlation and Capital Requirements: Empirical Evidence from the Italian Banking System","authors":"A. Malinconico, D. Curcio, I. Gianfrancesco","doi":"10.2139/ssrn.1888619","DOIUrl":"https://doi.org/10.2139/ssrn.1888619","url":null,"abstract":"The Basel Committee’s reform to strengthen the global capital framework, known as Basel III, takes into account a series of measures to address procyclicality and, consequently, make banks’ capital requirements more stable during the different phases of the economic cycle. The range of possible approaches that Supervisory Authorities could follow to address this issue includes measures such as the use of through-the-cycle probability of default (PD) estimates and/or the calibration of the other risk parameters, i.e., the confidence level and the relation between PD and asset correlation, in an anti-cyclical way. Particularly, this paper aims at detecting further the relation between PD and asset correlation, based on Italian banking system empirical loss data. The authors test the regulatory asset value correlation assumptions through a measure of implied asset correlation that they get by equalling the empirically observed unexpected loss with the regulatory capital requirements. This research sheds more light on the inverse relation between PD and asset correlation, which is one of the main hypotheses the internal ratings based approach is built on, and that has not been modified by the Basel III reform. The paper demonstrates that the sign of this relation depends on the combination of two opposite effects: the “PD effect”, which is consistent with the inverse relation hypothesis and the “PD volatility effect”, which has been neglected by prior literature. According to the provided evidence, if a certain change in the PD comes along with a change in the volatility of the default rate distribution, the inverse relation doesn’t hold.","PeriodicalId":154391,"journal":{"name":"ERN: Other Econometrics: Applied Econometric Modeling in Financial Economics - Econometrics of Financial Markets Regulation (Topic)","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-07-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125519909","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Right-Brain Left-Brain Investing","authors":"P. Beaudan","doi":"10.2139/ssrn.2265497","DOIUrl":"https://doi.org/10.2139/ssrn.2265497","url":null,"abstract":"Investors need to understand the meaning of a number of basic performance statistics used to evaluate investments. These statistics are useful in pinpointing pertinent areas of investigation during investment due diligence reviews. However, past returns are in fact poor predictors of future performance, so that quantitative analysis alone is not sufficient to source and identify good investments. Qualitative judgment usually needs to be the determining factor in most investment decisions. We describe in this article some practical examples of the interplay between quantitative and qualitative assessments of investment opportunities.","PeriodicalId":154391,"journal":{"name":"ERN: Other Econometrics: Applied Econometric Modeling in Financial Economics - Econometrics of Financial Markets Regulation (Topic)","volume":"36 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131936430","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Demystifying Regulation of Credit Derivatives","authors":"David Eugene Ntshabele","doi":"10.2139/ssrn.3460600","DOIUrl":"https://doi.org/10.2139/ssrn.3460600","url":null,"abstract":"Regulators may not afford to pay investment bank rates to quantitative experts and maintain scores of PhDs in investment analysis, however serious attempt should be made to understand the markets and the products which they regulate. Regulatory capture is a fundamental risk for regulators of financial markets. Remedy may be found in sponsoring academic institutions as partners in financial markets regulation and policy formulation.","PeriodicalId":154391,"journal":{"name":"ERN: Other Econometrics: Applied Econometric Modeling in Financial Economics - Econometrics of Financial Markets Regulation (Topic)","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2005-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123670732","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}