Search results for "Transaction"

Volatility Weighting over Time in the Presence of Transaction Costs

2019

Numerous empirical studies demonstrate the superiority of dynamic strategies with a volatility-weighting-over-time mechanism. These strategies control the portfolio risk over time by adjusting the risk exposure according to updated volatility forecasts. Yet, to reap all the benefits promised by volatility weighting over time, the composition of the active portfolio must be revised rather frequently. Transaction costs represent a serious obstacle to benefiting from this dynamic risk control technique. In this article, we propose a modified volatility-weighting strategy that allows one to reduce dramatically the amount of trading costs. The empirical evidence shows that the advantages of the …

TRANSACTIONAL SEX, EARLY MARRIAGE, AND PARENT– CHILD RELATIONS IN A TANZANIAN SLUM

2016

Transactional sex has been recognized as a major factor in the persistence of HIV/AIDS in Sub-Saharan Africa, yet it also has implications for the persistence of poverty. Using interview data collected between 2010 and 2015, this article examines how Muslim families in Dar es Salaam are affected by transactional sexual behavior.1 Examined are motives for transactional sex, how poor families view the purpose of marriage, and religious teachings and cultural beliefs about the onset of adulthood. Familial strategies to ensure provision for daughters and to improve the family’s socio-economic situation are impeded by the fact that in a context of high unemploy ment, transactional sex of ten rep…

Talking Blockchains: The Perspective of a Database Researcher

2021

There are few topics out there, that seem to create as much confusion and discussion as blockchains. This has a multitude of reasons: (1) A large number of drastically different concepts and systems are unified under the very broad term "blockchain". (2) The topic touches a variety of different fields, including databases, distributed processing, networks, cryptography, and even economics. (3) There exists a large number of different applications of the technology.The goal of this paper is to simplify and structure the discussion of blockchain technology. We first introduce a simple formalization of the basic components, that appear again and again in a variety of blockchain systems. Second…

Mechanizm cenowy w powiązaniach kontraktowych z perspektywy teorii agencji. Przykład koordynacji transakcji na rynku ziemniaka między grupami produce…

2016

Kontrakty stanowią jedną z form pionowej koordynacji transakcji w agrobiznesie. Kluczowym aspektem umów jest odpowiednie motywowanie stron do właściwego działania oraz optymalny wybór kontrahentów. Może to się odbywać poprzez ustanowienie odpowiedniej formuły cenowej. Koncepcją teoretyczną umożliwiającą badanie tych problemów jest model pryncypał–agent w ramach teorii agencji. Celem głównym przeprowadzonych badań była identyfikacja powiązań kontraktowych między grupami producentów rolnych a pierwszym odbiorcą. Celem szczegółowym było rozpoznanie formuły cenowej. Przedmiotem badań były kontrakty między grupami producentów rolnych na rynku ziemniaka a pierwszym odbiorcą w 2014 r., dlatego zas…

European Option Pricing and Hedging with Both Fixed and Proportional Transaction Costs

2003

Abstract In this paper we provide a systematic treatment of the utility based option pricing and hedging approach in markets with both fixed and proportional transaction costs: we extend the framework developed by Davis et al. (SIAM J. Control Optim., 31 (1993) 470) and formulate the option pricing and hedging problem. We propose and implement a numerical procedure for computing option prices and corresponding optimal hedging strategies. We present a careful analysis of the optimal hedging strategy and elaborate on important differences between the exact hedging strategy and the asymptotic hedging strategy of Whalley and Wilmott (RISK 7 (1994) 82). We provide a simulation analysis in order …

Déclaration et vérification des créances. Pouvoir de transaction du liquidateur autorisé par le juge-commissaire. Renonciation à l'extinction d'une c…

2000

International audience; (Com. 23 nov. 1999, Sté Logirep c/ Banque parisienne de crédit, D. 2000.13, obs. AL)

Testing of Execution of Concurrent Processes

2020

Authors propose an algorithm for analysis of business processes to detect potentially incorrect results of concurrent processes execution. Our novel approach is to conclude necessary database isolation level from business process description. If traditional languages with loops and arithmetic operations (two-way counters) are used for business process descriptions, the problem of detecting incorrect execution of concurrent processes cannot be algorithmically solved. This paper introduces a simplified business processes description language CPL-1, a transaction mechanism and an algorithm that supports detection of incorrect results during the concurrent execution of business processes. Busin…

Transaction Avoidance in Insolvencies Rebecca Parry, James Ayliffe QC and Sharif Shivji (3rd edn) (2018, OUP, Oxford), 720pp, £195, ISBN 978-0-19-879…

2018

Is the long-run underperformance of seasoned equity issues irrational? Evidence from Spain

2007

Abstract We investigate if the long-run underperformance in the year after the issue of a sample of Spanish SEO firms is related to behavioural biases that lead investors to slowly adjust their pre-issue overoptimism. We also examine the existence of arbitrage costs that preclude mispricing from being corrected rapidly by sophisticated investors who act as arbitrageurs. Our findings support the contention that small SEO firms are overpriced at the time of the issue and suggest that their post-underperformance is related to arbitrage costs, where transaction costs play an important role although holding costs do not.

Leaders – A Determinant Role

2016

Abstract No matter of the business sector the company plays in, today leadership is essential in order to be successful, because when we speak about leadership we think about the power that is the result of the connection between a leader and his followers. Today it is important to have good managers that organize and conduct the company in order to achieve the objectives, but it is more important that the managers to be good leaders that have the power to influence other in participating for achieving companies goals.