Finance & bien commun: revue de l'Observatoire de la Finance = Finance & common good
ISSN: 1422-4658
58350 Ergebnisse
Sortierung:
ISSN: 1422-4658
The study, conducted assesses the current state of agricultural finance in the Republic of Kosovo (Kosovo) and determine ways to improve the provision of finance to Kosovo's growing agricultural economy. The study is aimed at informing the full range of stakeholders about the best options to scale up financial services for agriculture. The study relies on data from available statistics as well as on individual and group discussions with stakeholders. Kosovo's business environment is improving, despite slow advancement in the capacity and function of the public institutions responsible for providing guidance and direction to the industry. Government focus on the World Bank (WB) Doing Business indicators has produced encouraging results. According to the Doing Business 2018 report, Kosovo is currently ranked 40th in the world, up from 126th in 2012, a leap of 86 places. In ease of starting a business, Kosovo very substantially improved its ranking, by 160 places. A law on strategic investments is under consideration, and attention is being given to support public institutions that improve the business environment, such as the Business Registration Agency, which ultimately will support investors. These developments are taking place in an economy marked by high general unemployment (30.5 percent) and very high youth unemployment (52.7 percent). The public sector remains the dominant employer and pays higher wages on average than he private sector. The supply of skilled workers is insufficient to satisfy private sector demand. Small and medium enterprises dominate the economic landscape; while these are increasing in number, few grow into larger entities.
BASE
This thesis consists of three articles. The two first articles study information flows in the financial markets, and the third one studies how mutual fund families may use relatively discretionary income sources to channel profits to specific funds within the family. The first article, joint with Daniel Schmidt, studies price and liquidity spillovers in financial markets. Using a quasi-natural experiment, we show that investors look at stock prices to extract signals, and use these to trade. In the second article, I show that mutual fund acquire information through the securities lending market. I show that active mutual funds start selling the stocks that are borrowed from them by short sellers, whereas index funds — that are prohibited from trading — do not. One the other hand, index funds are able to charge higher stock lending fees from the borrowers. I attribute this to them being better lenders in the sense that they can not use the information they gain to trade, and thereby extract profits from the short sellers' information. The third article, also with Daniel Schmidt, studies fund family level policies in allocating securities loans and lending revenues between member funds. We show that fund families deviate from the claimed fair allocation, directing more securities loans and lending profits to index funds. The finding is in line with with funds substituting a lower expense ratio with higher securities lending income. ; Cette thèse se compose de trois articles. Les deux premiers articles étudient les flux d'informations sur les marchés financiers, et le troisième étudie comment les familles de fonds communs de placement peuvent utiliser des sources de revenus relativement discrétionnaires pour canaliser des bénéfices vers des fonds spécifiques au sein de la famille. Le premier article, rédigé en collaboration avec Daniel Schmidt, étudie les retombées de prix et de liquidité sur les marchés financiers. En utilisant une expérience quasi-naturelle, nous montrons que les investisseurs observent les prix des actions pour en extraire des signaux, et les utilisent pour effectuer des transactions. Dans le deuxième article, je montre que les fonds d'investissement acquièrent des informations par le marché des prêts de titres. Je montre que les fonds communs de placement actifs vendent les actions qui leur sont empruntées par des vendeurs à découvert, alors que les fonds indiciels - qui sont interdits de négociation - ne le font pas. D'un autre côté, les fonds indiciels sont en mesure de facturer des frais de prêt de titres plus élevés aux emprunteurs. Je leur attribue le fait qu'ils sont de meilleurs prêteurs dans le sens où ils ne peuvent pas utiliser les informations qu'ils obtiennent pour négocier, et donc tirer des bénéfices des informations des vendeurs à découvert. Le troisième article, également avec Daniel Schmidt, étudie les politiques des familles de fonds en matière de répartition des prêts de titres et des revenus de prêts entre les fonds membres. Nous montrons que les familles de fonds s'écartent de l'allocation équitable revendiquée, en dirigeant davantage de prêts de titres et de bénéfices de prêts vers les fonds indiciels. Cette conclusion est conforme à la substitution par les fonds des frais de gestion plus faibles par des revenus de prêts de titres plus élevés.
BASE
Description based on: 1978-79. ; Mode of access: Internet. ; Earlier vols. issued as a part of: Governmental finances in the United States.
BASE
Description based on: 1978-79. ; Previously classed: C 3.191/2:, C 56.209: ; Mode of access: Internet. ; Earlier vols. issued as a part of: Governmental finances in the United States.
BASE
Vols. for 1946-6 each in 3 pts.: no. 1, Summary of city government finances; no. 2, Compendium of city government finances; no. 3, Large-city finances. ; Vols. for 1942-45 each in 3 pts.: v. 1, Individual city reports (varies slightly); v. 2, Topical reports; v. 3, Statistical compendium. ; Issued as part of the Bureau's Series G. ; "The.fiscal years reported are those ending in calendar (year), except for a few municipalities, with fiscal years closing early in January." ; Mode of access: Internet. ; Part no. 1, Summary of city government finances, is continued by publication entitled City government finances, ISSN 0082-9439 ; Merged with State finances and Governmental finances to form Governmental finances (1965) (Cf. Andriot. Guide to U.S. Government publications)
BASE
This paper begins by defining, and distinguishing between, money and finance, and addresses alternative ways of financing spending. We next examine the role played by financial institutions (e.g., banks) in the provision of finance. The role of government as both regulator of private institutions and provider of finance is also discussed, and related topics such as liquidity and saving are explored. We conclude with a look at some of the new innovations in finance, and at the global financial crisis, which could be blamed on excessive financialization of the economy.
BASE
An organization or economic system where goods and services are exchanged for one another or for money Finance: The term finance is understood in two ways such as resources and as a discipline. Resources refer to monetary means of financing assets of an entity. Discipline refers to describes how the individual, government and corporate, organization manage the flows of money through an organization. Business Finance: Is the term that bound a wide range of activity and disciplines revolving the capital funds in meeting the financial needs and objectives of business enterprises. In simple words, business finance applies to all financial activities of agriculture, industry, banking, transport insurance, etc.
BASE