Dimitar vasilev (3 Ergebnisse)
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Taschenbuch. Zustand: Neu. Druck auf Anfrage Neuware - Printed after ordering - Research Paper (undergraduate) from the year 2010 in the subject Economics - Finance, University of Portsmouth, language: English, abstract: This paper uses t and f statistical tests to evaluate empirically the competitive conditions in the German ba…nking system for the period 2003-2007. For this purpose we implement the non-structural estimation technique in logarithmic form (Hondroyiannis, Lolos, Papapetrou, 1999, p.377):lnTrev = 1+ 2 lnPL+ 3 lnPK+ 4 lnPF+ 5 lnRISKASS+ 6 lnASSET+ 7 lnEMP.
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Taschenbuch. Zustand: Neu. Druck auf Anfrage Neuware - Printed after ordering - Thesis (M.A.) from the year 2010 in the subject Economics - Finance, grade: 2,0, University of Portsmouth, language: English, abstract: Risk management has been pivotal banking activity, particularly for the last 20 years. Volatileeconomic conditions… and ever-growing competitive forces have compressed profit margins andforced UK banks to look up to sophisticated and more comprehensive methods of identifying optimalrisk-return positions. Advanced technology and global business focus has presented opportunities toutilize comprehensive quantitative techniques to contain and manage risk exposure. Technology hasplayed crucial role in establishing and dispersing electronic trading platforms giving access to equityand derivatives hence reshaping capital acquisition and risk management frameworks. The topic ofrisk management has been even more contextual in times of severe economic/financial crisis.Analysts have not only been critical of banks' uncollateralized lending but also of their excessivetrading with derivative instruments. Assuming that no arbitrage opportunities exist, the questionremains as to whether banks attempt to hedge their risk exposure or purely speculate on thedirection of price movements. In this context, central task of this dissertation is to examine the rolederivative instruments play in the UK banking system through aggregately assessing risk position oflargest UK banks relative to aggregate trading volumes. Empirical analysis is conducted utilizing atwo-stage SUR technique. Results from first stage of empirical analysis confirm that risk premium onbanks' equity securities is strongly related to market risk premium. More importantly, findingsillustrate that exchange rate exposure of UK banks has more significant impact on stock returnscompared to interest rate risk exposure. Second stage of the analysis fails to provide comprehensiveconclusion due and produces controversial results. Nevertheless, exchange rate derivatives are foundto have impact on exchange rate risk albeit only marginally.
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Taschenbuch. Zustand: Neu. Druck auf Anfrage Neuware - Printed after ordering - Bachelor Thesis from the year 2009 in the subject Economics - Finance, grade: 1,7, Furtwangen University; Villingen-Schwenningen, language: English, abstract: In modern economic conditions, conducting business activity of any kind without availabilit…y of debt finance is improbable. The private sector in Bulgaria face the challenge of maintaining sufficient amount of capital to successfully satisfy both working and investment needs. Debt finance products offer an ideal way to satisfy those needs.Small- and medium-sized enterprises are main employment generator and key economic growth factor. They play primarily role in forming both GDP and Value Added of the country. However, SMEs have experienced a vast amount of economic and social problems. Main problems groups can be brought down to:- Inappropriate business environment for the development of SME (administrative, legal, poorly developed business consulting services and regional business centers etc.)- Insufficient financial assistanceSince capital markets in Bulgaria are still underdeveloped and alternative sources of finance are hardly present, bank loans/credit lines along with supplier/customer debt prove to be a primary source of capital for small- and medium- sized enterprises. In a bank-based financial system like Bulgaria, banking system is a key factor of economic growth with a major role in productivity, investment levels, innovation and expectation of entrepreneurs.All those factors explain the importance of the chosen topic on regional and national level. Purpose of this work is to create a comprehensive profile of the SME sector in Bulgaria; to pinpoint and analyze its problems toward access to external capital as well as to evaluate trends and challenges in SME debt finance.Key question on which this work attempts to answer is:What are the trends and challenges in the corporate debt financing sector In order to get there, specific tasks will need to be accomplished- Creation of a comprehensive profile of the SME sector in Bulgaria and illustration of its growing importance for the national economy.- Evaluation of the supply and demand for debt and determination of potential barriers to limited external finance access for SMEs- Formulating and analyzing trends and challenges of corporate debt financing in Bulgaria[.].
