Finance Projects, Dissertation, Thesis, Financial Management Case Studies, Research Papers, Examples and Resources
This paper argues that borrowers who are considered to be too risky are excluded from microfinance markets due to credit rationing. Insufficient institutional frameworks imply moral hazard which in turn causes the rationing of credit. Focusing on outreach and pricing issues, it
The purpose of this thesis is to investigate if an investor can apply Modern Portfolio Theory (MPT) in order to achieve a higher return than investing in an index portfolio. Combining a strong portfolio that beats the market in the longrun would
During the 1990s the availability of location-specific retail payment services in Finland declined substantially, but at the same time there was a surge of development of self-service methods. These new methods, which make use eg of mobile phones and the Internet, dramatically
This paper examines the impact of messaging and technical standards on competition in the supply of se-curities transaction management services. Two simple switching cost models are used to clarify the im-pact of standards on barriers to entry and on the incentives to
This thesis aims at testing the Efficient Market Hypothesis (EMH) by implementing and evaluating four distinct algorithms (Universal Portfolio, Exponentiated Gradient, Anticor and Constant Proportion Portfolio Insurance) for automated rebalancing of fixed-asset portfolios based on the past performance of the individual assets
This paper presents a duopoly model of the securities settlement industry. Because pooling a large amount of payments can help in using liquidity efficiently, issuers prefer systems where a large number of securities are issued. If the central securities depositories establish a
The report examine whether exchange rate movements affect firms’ values and the impact of hedging on exchange rate exposure and the market value of firms. In the first essay, I empirically examine the firm-specific exchange rate exposure of Japanese multinational corporations (MNC).
The relative low interest rate in the first part of the new millennium spurred on demand for mortgage financing and by extension also fueled the housing market, primarily in the United States. Subprime loans were incorporated into and repackaged into various ABS.
This paper investigates the market consequences of alliance formation among stock exchanges. These alliances enable brokers to match investors internationally at their local market, thereby eliminating the need for brokers to maintain memberships in foreign stock exchanges. We sort out the conditions
We ask which part of the observed cross-country differences in the level of per capita income can be accounted for by monopoly rights in the labour market. We answer this question in a calibrated growth model with two final goods sectors. The