SPGMI: Capital IQ Data (Topic)最新文献_第3页

Financial Literacy in Asia: A Scoping Review 亚洲的金融素养:范围审查

SPGMI: Capital IQ Data (Topic) Pub Date : 2020-12-05 DOI: 10.2139/ssrn.3743345

J. Xiao

引用次数: 4

Intrinsic Value of the Dollar: An Evaluation, and Scrutiny of the Absolute Worth of The U.S. Dollar. 美元的内在价值:对美元绝对价值的评价与审视。

SPGMI: Capital IQ Data (Topic) Pub Date : 2020-12-03 DOI: 10.2139/ssrn.3741880

Shahrukh Shafqat

{"title":"Intrinsic Value of the Dollar: An Evaluation, and Scrutiny of the Absolute Worth of The U.S. Dollar.","authors":"Shahrukh Shafqat","doi":"10.2139/ssrn.3741880","DOIUrl":"https://doi.org/10.2139/ssrn.3741880","url":null,"abstract":"The debate on the intrinsic value of the U.S. Dollar has intensified recently and been an ongoing one, ever since 1971, when, President Richard Nixon, announced the abandonment of the Gold standard. In the debate on the intrinsic value of the Dollar, it may be argued, that Gold has been seen as a currency with an 'absolute worth' greater than all fiat currencies, due to Gold's historical acceptance power, and prominence as 'money.' With the abandonment of the Gold standard, and the Dollar, fundamentally, not being pegged to Gold, or any other units of intrinsic value, critics, ever since, have raised concerns regarding the absolute, or intrinsic value of the U.S. Dollar. This paper scrutinizes the intrinsic value of the U.S. Dollar, with an alternative perspective applied to gauge the Dollars' intrinsic value; the evaluation has been carried out through established financial models for a holistic assessment. The paper elaborates an alternative mechanism through which the Dollar derives its intrinsic value, and quantifies the nominal value backing the USD, $1079.3 trillion, and a real value, in 1970 Dollars, of $208.4 trillion; this value, aligned with the Gold standard peg of 1970, stands at 5.95 trillion ounces of Gold.","PeriodicalId":375725,"journal":{"name":"SPGMI: Capital IQ Data (Topic)","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114850407","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}

引用次数: 0

Lifting the Veil: The Price Formation of Corporate Bond Offerings 揭开面纱:公司债券发行的价格形成

SPGMI: Capital IQ Data (Topic) Pub Date : 2020-11-24 DOI: 10.2139/ssrn.3541255

Liying Wang

引用次数: 10

Are CLO Collateral and Tranche Ratings Disconnected? CLO抵押品和部分评级是分开的吗?

SPGMI: Capital IQ Data (Topic) Pub Date : 2020-10-08 DOI: 10.2139/ssrn.3707557

J. Griffin, Jordan Nickerson

引用次数: 7

Measuring the Effects of Firm Uncertainty on Economic Activity: New Evidence from One Million Documents 衡量企业不确定性对经济活动的影响:来自一百万份文件的新证据

SPGMI: Capital IQ Data (Topic) Pub Date : 2020-10-01 DOI: 10.3386/W27896

Kyle Handley, J. Frank Li

引用次数: 31

Industry Distress and Default Recovery Rates: The Unconditional Quantile Regression Approach 行业困境与违约回收率:无条件分位数回归方法

SPGMI: Capital IQ Data (Topic) Pub Date : 2020-09-26 DOI: 10.2139/ssrn.3473161

Hui-Ching Chuang, Jau‐er Chen

引用次数: 0

Marking to Market Corporate Debt 公司债务按市值计价

SPGMI: Capital IQ Data (Topic) Pub Date : 2020-09-17 DOI: 10.2139/ssrn.3681817

Lorenzo Bretscher, Peter Feldhütter, Andrew Kane, L. Schmid

{"title":"Marking to Market Corporate Debt","authors":"Lorenzo Bretscher, Peter Feldhütter, Andrew Kane, L. Schmid","doi":"10.2139/ssrn.3681817","DOIUrl":"https://doi.org/10.2139/ssrn.3681817","url":null,"abstract":"Models of capital structure and credit risk make predictions about market valuations of debt, but are routinely tested on the basis of book debt from common data sources. In this paper, we propose to close this gap. We construct a rich data set on firm level debt market valuations by carefully matching data on corporate bond and loan secondary market transactions. We document significant discrepancies between market and book values, especially for distressed firms. We use our dataset to i) provide novel rules of thumb on how to adjust leverage and unlever returns using standard datasets, and ii) to revisit a number of prominent empirical patterns involving corporate debt. Using a market-based measure of Tobin's Q, we find little evidence for investment cash-flow sensitivity in our data. We find that using market debt values significantly improves default prediction, and do not detect a credit spread puzzle. In asset pricing tests, we find a leverage premium, but no evidence for a value premium after controlling for market leverage. Moreover, a novel measure of financial distress, namely market-to-book debt, predicts stock returns positively in the cross-section, inconsistent with a financial distress puzzle.","PeriodicalId":375725,"journal":{"name":"SPGMI: Capital IQ Data (Topic)","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-09-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117245848","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}

引用次数: 3

U.S. Securities and Exchange Commission MIDAS Market Information Data Analytics System: An Observation 美国证券交易委员会MIDAS市场信息数据分析系统:一个观察

SPGMI: Capital IQ Data (Topic) Pub Date : 2020-09-11 DOI: 10.2139/ssrn.3692464

Fred Sommers

{"title":"U.S. Securities and Exchange Commission MIDAS Market Information Data Analytics System: An Observation","authors":"Fred Sommers","doi":"10.2139/ssrn.3692464","DOIUrl":"https://doi.org/10.2139/ssrn.3692464","url":null,"abstract":"The U.S. Securities and Exchange Commission (SEC) rolled out Market Information Data Analytics System (MIDAS) in 2013 which is: “…the SEC’s implementation of a new system that combines advanced technologies with empirical data to promote better understanding of markets….” This paper uses available public, peer-re-viewable data, and operational outcomes to assess SEC MIDAS reported public data. These public data and outcomes demonstrate that SEC MIDAS data is incomplete. In particular, transactions effected otherwise than on an exchange and reported though the three FINRA Trade Reporting Facilities (TRFs) are not included in SEC MIDAS data. SEC MIDAS is expected to be a comprehensive research facility with collected data from self-regulatory organizations, trading venues, and proprietary sources. Essential SEC rule making offices such as the Division of Economic and Risk Analysis (DERA) and Division of Trading and Markets rely on MIDAS data. Both the public and the academic and economic groups have an expectation that MIDAS data and research using MIDAS data promotes empirical understanding of market hypotheses, market behavior, and market regulation.","PeriodicalId":375725,"journal":{"name":"SPGMI: Capital IQ Data (Topic)","volume":"62 3","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-09-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132442706","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}

引用次数: 0

Deutsche Bank Restart: Goodbye Goldman Sachs of Europe? 德意志银行重启:告别欧洲高盛?

SPGMI: Capital IQ Data (Topic) Pub Date : 2020-09-03 DOI: 10.2139/ssrn.3682595

G. Allayannis, Gerry Yemen, P. Holtz

{"title":"Deutsche Bank Restart: Goodbye Goldman Sachs of Europe?","authors":"G. Allayannis, Gerry Yemen, P. Holtz","doi":"10.2139/ssrn.3682595","DOIUrl":"https://doi.org/10.2139/ssrn.3682595","url":null,"abstract":"This public-sourced case describes the latest restructuring efforts by Deutsche Bank (DB) and gives a short history of prior restructuring efforts from the decade before. In July 2019, Christian Sewing, the new CEO of DB, announced a series of measures that included, among others, the elimination of global equity trading, the layoff of 18,000 employees, the creation of a \"bad bank\" to transfer noncore assets, and the suspension of dividends until 2022. The case describes key decisions a bank CEO makes when a bank needs to change course to return to profitability and growth. The case offers an opportunity to debate these key decisions, as well as discuss some of the prior ones during earlier restructuring efforts, and put the students in the CEO's shoes: What would you do and why? The case also describes key banking performance metrics (e.g., ROE, ROA) and other critical variables such as those reflecting capital health (Tier 1 ratio), as well as gives an overview of the bank business model and factors impacting bank profitability and value. \u0000 \u0000Excerpt \u0000 \u0000UVA-F-1934 \u0000 \u0000Feb. 26, 2020 \u0000 \u0000Deutsche Bank Restart: Goodbye Goldman Sachs of Europe? \u0000 \u0000What is our north star, when reshaping Deutsche Bank? \u0000 \u0000–CEO Christian Sewing \u0000 \u0000In July 2019, on a day of massive employee layoffs at Deutsche Bank—mostly in its equity sales and trading business—two executives made headlines for having new USD1,800 suits fitted at the office. Their out-of-touch leadership behavior did little for the struggling German bank's reputation. And it drew the ire and a phone call from CEO Christian Sewing. \"In no way is this behavior in keeping with our values,\" Sewing said. \"I assume in any case that the two colleagues will not forget my telephone call.\" (See Appendix1 for the company's mission statement.) \u0000 \u0000. . .","PeriodicalId":375725,"journal":{"name":"SPGMI: Capital IQ Data (Topic)","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-09-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132615855","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}

引用次数: 0

Mining and the SDGs: A 2020 Status Update 矿业与可持续发展目标:2020年现状更新

SPGMI: Capital IQ Data (Topic) Pub Date : 2020-09-01 DOI: 10.2139/ssrn.3726386

Columbia University- Columbia Center on Sustainable Investment, (RMF) The Responsible Mining Foundation

{"title":"Mining and the SDGs: A 2020 Status Update","authors":"Columbia University- Columbia Center on Sustainable Investment, (RMF) The Responsible Mining Foundation","doi":"10.2139/ssrn.3726386","DOIUrl":"https://doi.org/10.2139/ssrn.3726386","url":null,"abstract":"The mining industry, through its extensive activities and prominent presence in developing countries, has strong linkages with issues covered in all 17 of the UN Sustainable Development Goals (SDGs). These linkages are clearly set out in the 2016 Mapping Mining to the Sustainable Development Goals: An Atlas, produced by the Columbia Center on Sustainable Investment, the United Nations Development Programme, the United Nations Sustainable Development Solutions Network and the World Economic Forum. With just ten years left to achieve the Sustainable Development Goals by the target date of 2030 and four years after the publication of the Atlas, this report provides a status update of what large-scale mining companies are currently doing to integrate the SDGs into their business strategies and to take proactive measures that will help deliver these Goals. It is also a reminder of the opportunities that the mining industry has to positively influence achievement of the SDGs, and simultaneously a caution on the inherent risks that mining activities pose that might impede the achievement of the SDGs. This influence that the mining industry can bring to bear is all the more important given the serious implications of the COVID-19 on progress to achieve the SDGs.","PeriodicalId":375725,"journal":{"name":"SPGMI: Capital IQ Data (Topic)","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132110836","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}

引用次数: 4