350,983 research outputs found
"Applications of the Asymptotic Expansion Approach based on Malliavin-Watanabe Calculus in Financial Problems"
This paper reviews the asymptotic expansion approach based on Malliavin-Watanabe Calculus in Mathematical Finance. We give the basic formulation of the asymptotic expansion approach and discuss its power and usefulness to solve important problems arised in nance. As illustrations we use three major problems in nance and give some useful formulae and new results including numerical analyses.
Lobbying and Information in Politics
The vast majority of papers written about interest groups ā political in uence focuses on the role of money in politics. Business and interest groups ā partici-pation in campaign nance, in the form of hard and soft money, has been the subject of hundreds of theoretical and empirical studies. Moreover, with the recent congressional moves to reform campaign nance laws, campaign nance studies have received a prominent position in public discourse. There are two striking results about this line of academic work. First, political action committees (PACs) gave 123 million annually), and corporations, unions, and interest groups gave 76 million annually).1 Yet, Congress controls a 200 million annually) to try to in uence policy? To answer this question, we turn to a second striking result from the academi
October 2009
A Nance Benchmark Primer -- Dr. Elad Granot Appointed New Director of Accelerated MBA and Executive MBA Programs -- Featured Alumni: Ronald Unkefer, BBA \u2766 -- Featured Student: Maria Sedano -- New Professors at Nance -- The Nance Business Major and Career Connection Series -- Meet the Nance Advancement Team -- Nance Faculty and Staff Kick-Āoff the Year with a Visit to Mayfran International.https://engagedscholarship.csuohio.edu/dialogue/1011/thumbnail.jp
September 2009
UpFront: How the Nance College of Business spent its summer vacation -- Nance College Awarded Fourth Consecutive Federal Grant to Expand Best in Practice Global Business Programs -- Featured Alumni: Jon Eggleton, MBA \u2700 -- Nance College of Business Launches Capacity Planning Project in Zambia -- Dr. Scherer participates in Fulbright Senior Specialists Program -- Two of Nance\u27s Best Pass Rigorous Level I CFA Exam -- Successful Pre-ĀCollege Program Showcases Nance College of Business -- Students Study Abroad in Chile -- Celebrating 44 Years at CSU: Professor Fred Friend -- A Fun Season for CSU Sponsored Softball Team.https://engagedscholarship.csuohio.edu/dialogue/1012/thumbnail.jp
Imperfect competition in Ā financial markets and capital structure
We consider a model of corporate Ā
nance with imperfectly competitive fiĀ
nancial intermediaries. Firms can fiĀ
nance projects either via debt or via equity. Because of asymmetric information about fiĀ
rm's growth opportunities, equity fiĀ
nancing involves a dilution cost. Nevertheless, equity emerges in equilibrium whenever fiĀ
nancial intermediaries have sufficient market power. In the latter case, best fiĀ
rms issue debt while the less proĀ
table Ā
firms are equity-fiĀ
nanced. We also show that strategic interaction between oligopolistic intermediaries results in multiple equilibria. If one intermediary chooses to buy more debt, the price of debt decreases, so the best equity-issuing fiĀ
rms switch from equity to debt Ā
nancing. This in turn decreases average quality of equity-fiĀ
nanced pool, so other intermediaries also shift towards more debt.capital structure, pecking order theory of fiĀ
nance, oligopoly in Ā
financial markets, second degree price discrimination
September 2008
UpFront: Looking Backwards to Move Forward -- Nance Receives $1 Million Gift -- EMBA Class of 2009 Visits Turkey and Greece: International Study Tour is Integral Part of Curriculum -- Short term Study Abroad Programs Exclusively Offered During Semester Breaks -- Nance Becomes Host Institution for NASBITE International -- Nance Welcomes New Academic and Career Advisors -- Student Passes the PHR Exam, Earns Scholarship -- Nance Co-Āsponsors Rotary Club of Cleveland Business Leadership Awards -- Dr. Javalgi receives Best Paper Award -- Meet the EMBA Class of 2010 -- Successful Team-Ābuilding Session for NSHMBA Officers -- Nance-Āsponsored softball team -- New! Class Notes.https://engagedscholarship.csuohio.edu/dialogue/1019/thumbnail.jp
September 2008
UpFront: Looking Backwards to Move Forward -- Nance Receives $1 Million Gift -- EMBA Class of 2009 Visits Turkey and Greece: International Study Tour is Integral Part of Curriculum -- Short term Study Abroad Programs Exclusively Offered During Semester Breaks -- Nance Becomes Host Institution for NASBITE International -- Nance Welcomes New Academic and Career Advisors -- Student Passes the PHR Exam, Earns Scholarship -- Nance Co-Āsponsors Rotary Club of Cleveland Business Leadership Awards -- Dr. Javalgi receives Best Paper Award -- Meet the EMBA Class of 2010 -- Successful Team-Ābuilding Session for NSHMBA Officers -- Nance-Āsponsored softball team -- New! Class Notes.https://engagedscholarship.csuohio.edu/dialogue/1019/thumbnail.jp
December 2009
A Nance Benchmark Primer, Part III -- Featured Alumni: Janet Kramer -- Featured Student: Courtney Szocs -- Advancing Sustainable Business Practices -- EMBA Students Attend City Club Address -- Take Advantage of the Nance Social Network -- Net Impact Chapter Launched at the Nance College.https://engagedscholarship.csuohio.edu/dialogue/1009/thumbnail.jp
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