共查询到20条相似文献,搜索用时 0 毫秒
1.
Carl Philipson 《Scandinavian actuarial journal》2013,2013(3-4):239-242
Abstract 1. In a s. or n.s. cPp (stationary or non-stationary compound Poisson process) the probability for occurrence of m events, while the parameter (one-or more-dimensional) passes from zero to τ 0 as measured on an absolute scale (the τ-scale), is defined as a mean of Poisson probabilities with intensities, which are distributed with distribution functions defining another random process, called the primary process with respect to the s. or n.s cPp. The stationarity (in the weak sence) and the non-stationarity of the primary process imply the same properties of the s. or n.s. cPp. 相似文献
2.
João Manuel Andrade e Silva Maria de Lourdes Centeno 《The Journal of risk and insurance》2005,72(4):601-607
We revisit the optimal bonus scales introduced by Norberg (Norberg, R., 1976, Scandinavian Actuarial Journal (2): 92‐107), Borgan, Hoem, and Norberg (Borgan, O., J. Hoem, and R. Norberg, 1981, Scandinavian Actuarial Journal (2): 165‐178), and Gilde and Sundt (Gilde, V., and B. Sundt, 1989, Scandinavian Actuarial Journal (1): 13‐22) and underline some potential problems of the linear scales. As a possible solution we propose the use of geometric scales. 相似文献
3.
4.
5.
6.
7.
8.
This is a note on computation of the implied volatility in theBlack–Scholes formula to evaluate an accuracy of the computation. 相似文献
9.
This paper examines the optimal production decision of a firm facing revenue risk. We show that the purchase of actuarially fair deductible insurance unambiguously induces the firm to produce more if the firm is not only risk averse but also prudent. If the firm's perferences satisfy constant absolute risk aversion, buying actuarially unfair deductible insurance unambiguously enhances production should the positive loading factor be sufficiently small. When there are moral hazard problems in that the firm's output cannot be contracted upon, we show that the purchase of actuarially fair deductible insurance unambiguously induces the firm to produce more if the firm's utility function is quadratic. 相似文献
10.
Hajime Takahashi 《Asia-Pacific Financial Markets》2000,7(2):179-188
This paper investigates the interaction between thestock market and the stock option market. When thepredictions of the future stock price distributionsare different between markets,there is a chance that the option pricing method ofBlack and Scholes with its application to anarbitrage trading strategy may lead to substantialmarket turmoil. We will also investigatethe conditions of market stability. 相似文献
11.
Abstract In this paper, the recursion for Generalized Power Series Distributions (GPSD) recently developed by Kling & Goovaerts (1993) is reviewed. Some errors are discovered in their results. Corrected and slightly more general results are proposed here. 相似文献
12.
13.
14.
Lars Hakonsen 《International Tax and Public Finance》2001,8(1):75-80
Two highly influential articlesin the literature on green taxes and double dividends are Bovenbergand de Mooij (1994) and Goulder (1995). Goulder's primary concernis whether or not green tax reforms may increase welfare definedexclusive of environmental quality, while Bovenberg and de Mooijprimarily focus on the employment effects of such reforms. Unfortunately,Goulder misinterprets Bovenberg and de Mooij's results in takingthe sign of the uncompensated wage elasticity of labour supplyas being the decisive factor for whether or not welfare exclusiveof environmental quality rises under a green tax reform. Thiserror is pointed out and corrected in this note. 相似文献
15.
16.
Empirical work in finance is increasingly using Capital IQ's detailed data on capital structure. We compare the Capital IQ credit line data to hand‐collected data for a random sample of firms. Missing values in Capital IQ are prevalent, so the data set underreports the importance of corporate credit lines. When data are reported, Capital IQ often differs from hand‐collected credit line activity. We suggest methods for correcting the errors in the Capital IQ data, note which portions of the data are most reliable, and quantify the effects of Capital IQ's underreporting by examining the tradeoff between cash and lines of credit. 相似文献
17.
Humayun Kabir 《Australian Accounting Review》2020,30(2):116-122
This research note explores the incidence, amounts, disclosure and potential sources of bargain purchase gains reported by an Australian sample of firms during 2013–15. It finds that 7.58% of the sample acquirers reported bargain purchase gains during this period. The median gain as a percentage of consideration transferred was 18.90%. In contravention of IFRS 3 Business Combinations, not all acquirers with material bargain purchase gains disclosed in notes why the gain arose. Finally, the note reports preliminary evidence suggesting uncertainty about the sources of the gain. 相似文献
18.
19.
Kersten Kellermann 《International Tax and Public Finance》2006,13(2-3):151-161
This paper studies fiscal competition among jurisdictions in a dynamic framework, where the degree of mobility of private
capital across jurisdictions boundaries is perfect. The optimal tax on mobile capital is a source tax that taxes away factor
rents. Further we show that taxation of mobile capital can redistribute income in favor of the immobile factor labor. This
is because the factor rents generated by public inputs and appropriated by mobile capital exceed the efficient level of public
expenditure for investments.
JEL Code: H21, H23, H42, H71 相似文献
20.
Borde Stephen F. Cheney John M. Madura Jeff 《Review of Quantitative Finance and Accounting》1999,12(1):89-97
Finance journal quality is a critical issue for faculty annual elevations, for the tenure and promotion process, and for the administration of faculty workload plans. Unlike other studies that use objective measures (such as citation frequencies) to rate journals, this study focuses on the opinions of chairpersons about the relative quality of 55 finance, insurance, and real estate journals. A sample of 218 finance department chairpersons at AACSB accredited business schools were surveyed, and 125 responses were received (57.34% response rate). Besides overall aggregate scores, responses are segregated and tested for differences across several dimensions. The results offer interesting and current insight on general perceptions of journal quality. 相似文献