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Continuous Adjustment and Fundamental Change in Business Strategy and Organization
Continuous Adjustment Fundamental Change Business Strategy and Organization
2015/7/21
Continuous Adjustment and Fundamental Change in Business Strategy and Organization.
Can Analysts Assess Fundamental Risk and Valuation Uncertainty?An Empirical Analysis of Scenario-Based Value Estimates
Analyst Forecasts Scenarios Uncertainty Risk and Uncertainty Valuation
2015/4/27
We use a dataset of sell-side analysts' scenario-based valuation estimates to examine whether analysts reliably assess the risk surrounding a firm's fundamenatal value. We find that the spread in anal...
Fundamental theorems of asset pricing for piecewise semimartingales of stochastic dimension
Semimartingale Martingale Stochastic integration Fundamental theorem of asset pricing Stochastic dimension
2011/12/28
The purpose of this paper is two-fold. First is to extend the notions of an n-dimensional semimartin-gale and its stochastic integral to a piecewise semimartingale of stochastic dimension. The propert...
On the Fundamental Reasons for Bank Fragility
Customer services BANKING industry bank run technical issues the fragility of banks
2011/9/26
The article discusses the fundamental issues behind the fragility of banks due to the withdrawals of depositors during financial crisis. It explores the banking theory by Douglas W. Diamond and Philli...
The Fundamental Principle of Conservation of Physical Money: Its Violation and the GlobalFinancial System Collapse
Conservation of Money Fiat Money Commodity Money Gold Standard Fractional Banking Financial Derivatives Credit Default Swap Ponzi Scheme Iceland Crisis Greece Crisis
2013/2/23
Over the last two years the world has witnessed a financial tsunami that rocked the global financial systems. This paper presents the fundamental principle of conservation of physical money of the glo...
In the same way as the Hilbert Program was a response to the foundational crisis of mathematics, this article tries to formulate a research program for the socio-economic sciences. The aim of this con...
The Fundamental Theorem of Asset Pricing, the Hedging Problem and Maximal Claims in Financial Markets with Short Sales Prohibitions
The Fundamental Theorem Asset Pricing Hedging Problem
2011/1/4
This paper consists of two parts. In the first part, by building on the work of Jouini and Kallal in [26], Sch\"urger in [37], Frittelli in [15], Pham and Touzi in [34] and Napp in [33], we prove the ...
Fundamental defect of the macroeconomic thinking as one of the main causes of the crisis endured
macroeconomic thinking causes crisis endured
2010/10/19
The main points of the first section of the article written by S.I. Chernyshov, A.V. Voronin and S.A. Razumovsky arXiv:1003.4382), which deals with the fundamental bases of the macroeconomic theory, h...
Fundamental defect of the macroeconomic thinking as one of the main causes of the crisis endured
macroeconomic thinking crisis endured
2010/4/28
The main points of the first section of the article written by S.I. Chernyshov, A.V. Voronin and S.A. Razumovsky arXiv:1003.4382), which deals with the fundamental bases of the macroeconomic theory, h...
This work aims at a deeper understanding of the mathematical implications of the economically-sound condition of absence of arbitrages of the first kind in a financial market. In the
spirit of the Fu...
Dangers of Bilateral Counterparty Risk: the fundamental impact of closeout conventions
Bilateral Counterparty Risk the fundamental impact
2010/12/13
We analyze the practical consequences of the bilateral counterparty risk adjustment. We point out that past literature assumes that, at the moment of the first default, a risk-free closeout amount wil...
Economic Complexity: Fundamental Issues And Policy ImplicationsThe Nature of Persistent Business Cyc
2008/1/17
The nature of persistent business cycles and growth fluctuations can be understood by a unified approach in measurement and theory. It is found that the HP trend-cycle decomposition provides a consist...