1,720,984 research outputs found
RISK AVERSION BEHAVIOR. RELATIONSHIPS BETWEEN RISK AVERSION, PRUDENCE AND CAUTIOUSNESS
Full text linkThis paper defines decreasing absolute risk aversion in purely behavioral termswithout any assumption of differentiability and shows that a strictly increasing and riskaverse utility function with decreasing absolute risk aversion is necessarily differentiable withan absolutely continuous derivative. A risk averse utility function has decreasing absolute riskaversion if and only if it has a decreasing absolute risk aversion density, and if and only if thecumulative absolute risk aversion function is increasing and concave. This leads to acharacterization of all such utility functions. Analogues of these results also hold forincreasing absolute and for increasing and decreasing relative risk aversion.risk aversion, prudence, cautiousness
Opportunities offered by the capital market for financing public administration
Full text linkNowadays, covering the financial deficit of public administration in Romania is a difficult task, taking into consideration the fact that in a continous way, this institutional sector must implement and manage investment projects, that suit the local needs of Romanian colectivity and dynamize their adaption to the social,economical and political requirements of the integration in the European Union. Therefore, the alternative of financing through the capital market is well received by the public authorities, especially because there is a lack of flexibility and variety of financing possibilities for the public administration. The interest for this type of financing has increased over the time, once with becoming familiar with the mechanisms and advantages of such a type of financing by all entities that operate on the market (issuers, investors, intermediaries).capital market, T-bonds, public debt management
Opportunities offered by the capital market for financing public administration
Full text linkNowadays, covering the financial deficit of public administration in Romania is a difficult task, taking into consideration the fact that in a continous way, this institutional sector must implement and manage investment projects, that suit the local needs of Romanian colectivity and dynamize their adaption to the social,economical and political requirements of the integration in the European Union. Therefore, the alternative of financing through the capital market is well received by the public authorities, especially because there is a lack of flexibility and variety of financing possibilities for the public administration. The interest for this type of financing has increased over the time, once with becoming familiar with the mechanisms and advantages of such a type of financing by all entities that operate on the market (issuers, investors, intermediaries)
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
Full text link“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Appropriate Similarity Measures for Author Cocitation Analysis
Full text linkWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
THE IMPACT OF FINANCING POLICY ON THE COMPANY’S VALUE
No full textNational and international financial system offers companies a wide range of funding sources. The choice of one or more of the available sources and their combination are major aspects of the company's financing policy. Managers must keep in mind that the call to one or other of potential funding sources is not a minor and independent decision, but has profound implications on the company’s value. Weighted average cost of capital can be used as the discount rate or the selection of investment projects
An empirical analysis of the interlinkages between financial sector and economic growth
Full text linkThere is a growing literature body which examines the connections between financial status and economic growth. The aim of this paper is to examine the mechanism through which this positive connection is realized. The methodology is based on a pool data regression with dynamic of real GDP as dependent variable and some key variables of the financial sector. The main output of our study consists in the thesis that the financial status matter for the economic growth.finance, growth, cost of capital, yield
The companies financial architecture and the market values: is there an interlinkage ? The case of Bucharest Stock Exchange
Full text linkNowadays there is a large debate on whether the financial information proves any relevance for the investors´ prediction of the securities market values/stock prices. The paper focuses, besides reviewing some important literature concerning this issue, on an empirical analysis taking into consideration 44 companies listed on Bucharest Stock Exchange based on pool data linear regressions. It is true that the most recent research state that there is an important evidence of a deterioration of the relationship between accounting information and stock prices. Although, the main findings of this paper consist in that there are certain aspects which should be further examined for a more reliable conceptual approach. In addition, it concludes that - even in the case of an emergent capital market as Bucharest Stock Exchange - it can be found mixed evidences to support the importance of financial information in portfolio’ management decisions. In a sense or another, the paper state overall that the financial information matter for market determination of financial assets’ values
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