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| george g pennacchi: Theory of Asset Pricing George Gaetano Pennacchi, 2008 Theory of Asset Pricing unifies the central tenets and techniques of asset valuation into a single, comprehensive resource that is ideal for the first PhD course in asset pricing. By striking a balance between fundamental theories and cutting-edge research, Pennacchi offers the reader a well-rounded introduction to modern asset pricing theory that does not require a high level of mathematical complexity. |
| george g pennacchi: Government at Risk Hana Polackova Brixi, Allen Schick, 2002 Many governments have faced serious instability as a result of their contingent liabilities. But conventional public finance analysis and institutions fail to address such fiscal risks. This book aims to provide motivation and practical guidance to governments seeking to improve their management of fiscal risks. The book addresses some of the difficult analytical and institutional challenges that face reformers tooling up to manage government fiscal risks. It discusses the inadequacies of conventional practices as well as recent advances in dealing with fiscal risk. |
| george g pennacchi: Reform of the Nation's Banking and Financial Systems United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Financial Institutions Supervision, Regulation and Insurance, 1988 |
| george g pennacchi: Financial Modernization and Regulation Robert A. Eisenbeis, Frederick T. Furlong, Simon Kwan, 2013-11-27 Financial systems around the world are undergoing a process of modernization due to many different forces. Advances in information technology, product and market innovations, and recent regional financial crises have contributed to this movement. As a result, evolution in the financial sector is leading to larger, more complex financial organizations that render inadequate the supervisory and regulatory structures currently in place. While some changes in regulatory policies have already occurred, the adaptation of supervisory oversight and regulation in the face of these new developments is expected to continue for many years to come. This book collects papers originally presented in September 1998 at the Financial Modernization and Regulation Conference co-sponsored by the Federal Reserve Banks of Atlanta and San Francisco. Revised before publication, the papers seek to identify the reasons for changes in the financial services sector, and the implications these changes pose for financial supervision and regulation. Taken together, the papers offer valuable insights on 1) the forces behind financial modernization; 2) the implications financial modernization poses for corporate structure, market discipline, and financial regulation; 3) how to price deposit insurance accurately to reflect banks' risk-taking; and 4) balancing private versus public interests and managing potentially conflicting public policy goals. |
| george g pennacchi: Contemporary Topics in Finance Iris Claus, Leo Krippner, 2019-03-07 The literature surveys presented in this edited volume provide readers with up-to-date reviews on eleven contemporary topics in finance. Topics include unconventional monetary policy, implicit bank guarantees, and financial fraud - all linked to the exceptional event of the Global Financial Crisis Explores how recent studies on inflation risk premia and finance and productivity have benefitted from new empirical methods and the availability of relevant data Demonstrates how angel investing, venture capital, relationship lending and microfinance have benefitted from increased research as they have become more seasoned Investigates crowdfunding and crypto-currencies which have both arisen from recent technological developments |
| george g pennacchi: The Maze of Banking Gary Gorton, 2015 Financial crises must be studied in the context of history. The Maze of Banking is a collection of academic papers by Gary Gorton---an expert on the financial crisis of 2007-2008---on the history and analysis of banks, banking, and financial crises spanning the past 175 years. These papers provide the framework for understanding how the financial crisis of 2007-2008 developed and what can be done to promote a stabile banking industry and prevent future economic crises. |
| george g pennacchi: Earnings Management Joshua Ronen, Varda Yaari, 2008-08-06 This book is a study of earnings management, aimed at scholars and professionals in accounting, finance, economics, and law. The authors address research questions including: Why are earnings so important that firms feel compelled to manipulate them? What set of circumstances will induce earnings management? How will the interaction among management, boards of directors, investors, employees, suppliers, customers and regulators affect earnings management? How to design empirical research addressing earnings management? What are the limitations and strengths of current empirical models? |
| george g pennacchi: Executive Compensation in Imperfect Financial Markets Jay Cullen, 2014-10-23 This important book discusses the issue of executive compensation in Anglo-American financial markets following the financial crisis. The book begins by contextualizing the problem facing financial institutions in the US and the UK and argues that appr |
| george g pennacchi: Public Insurance and Private Markets Jeffrey R. Brown, 2010-07-16 Public Insurance and Private Markets offers market-based guidelines for the proper scope of government intervention and the design of public insurance programs_guidelines that will benefit the U.S. economy and protect the resources of future generations. |
| george g pennacchi: U.S. Bank Deregulation in Historical Perspective Charles W. Calomiris, 2006-11-02 This book shows how deregulation is transforming the size, structure, and geographic range of U.S. banks, the scope of banking services, and the nature of bank-customer relationships. Over the past two decades the characteristics that had made American banks different from other banks throughout the world--a fragmented geographical structure of the industry, which restricted the scale of banks and their ability to compete with one another, and strict limits on the kinds of products and services commercial banks could offer--virtually have been eliminated. Understanding the origins and persistence of the unique banking regulations that defined U.S. banking for over a century lends an important perspective on the economic and political causes and consequences of the current process of deregulation. |
| george g pennacchi: Prospects for Social Security Reform Olivia S. Mitchell, Robert Julius Myers, Howard Young, 1999-01-29 Aging populations are stressing underfunded national social security systems. From the Pension Research Council of the Wharton School, this book explores proposals to reform social security, including privatization, means-testing, and raising retirement ages, as well as tax and benefit changes. Economists, actuaries, gerontologists, and academics join in a search for viable solutions, drawing lessons from the global context. |
| george g pennacchi: International Bibliography of Economics British Library of Political and Economic Science, 1993 IBSS is the essential tool for librarians, university departments, research institutions and any public or private institution whose work requires access to up-to-date and comprehensive knowledge of the social sciences. |
| george g pennacchi: Financial Behavior Harold Kent Baker, Greg Filbeck, Victor Ricciardi, 2017 Financial Behavior provides a synthesis of the theoretical and empirical literature on the financial behavior of major stakeholders, financial services, investment products, and financial markets. With diverse concepts and topics, the book brings together noted scholars and practitioners so readers can gain an in-depth understanding about cognitive and emotional biases that influence various financial decisions from experts from around the world. |
| george g pennacchi: Role of Financial Institutions United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Telecommunications and Finance, 1988 |
| george g pennacchi: The Changing Market in Financial Services R. Alton Gilbert, 2012-12-06 The articles and commentaries included in this volume were presented at the Federal Reserve Bank of St. Louis' fifteenth annual economic policy conference. The conference focused on the effects of a variety of recent changes in the market for financial services in the United States. This market has been changing rapidly in recent years: business loans have become more liquid, as the market for loan sales grows. Banks have been permitted to participate in a limited form of interstate banking. Commercial banks have been given permission to offer additional underwriting services. The market for residential mortgage credit has been transformed, through securitization and the declining role of savings and loan associations. Foreign financial firms have taken a rising share of the market financial services. The papers in this volume describe these changes and examine implications for financial institutions and their customers. |
| george g pennacchi: Handbook of Financial Econometrics Yacine Ait-Sahalia, Lars Peter Hansen, 2009-10-19 This collection of original articles—8 years in the making—shines a bright light on recent advances in financial econometrics. From a survey of mathematical and statistical tools for understanding nonlinear Markov processes to an exploration of the time-series evolution of the risk-return tradeoff for stock market investment, noted scholars Yacine Aït-Sahalia and Lars Peter Hansen benchmark the current state of knowledge while contributors build a framework for its growth. Whether in the presence of statistical uncertainty or the proven advantages and limitations of value at risk models, readers will discover that they can set few constraints on the value of this long-awaited volume. - Presents a broad survey of current research—from local characterizations of the Markov process dynamics to financial market trading activity - Contributors include Nobel Laureate Robert Engle and leading econometricians - Offers a clarity of method and explanation unavailable in other financial econometrics collections |
| george g pennacchi: Finance Literature Index , 1994 |
| george g pennacchi: Corporate Governance Matters David Larcker, Brian Tayan, 2011-04-14 Corporate Governance Matters gives corporate board members, officers, directors, and other stakeholders the full spectrum of knowledge they need to implement and sustain superior governance. Authored by two leading experts, this comprehensive reference thoroughly addresses every component of governance. The authors carefully synthesize current academic and professional research, summarizing what is known, what is unknown, and where the evidence remains inconclusive. Along the way, they illuminate many key topics overlooked in previous books on the subject. Coverage includes: International corporate governance. Compensation, equity ownership, incentives, and the labor market for CEOs. Optimal board structure, tradeoffs, and consequences. Governance, organizational strategy, business models, and risk management. Succession planning. Financial reporting and external audit. The market for corporate control. Roles of institutional and activist shareholders. Governance ratings. The authors offer models and frameworks demonstrating how the components of governance fit together, with concrete examples illustrating key points. Throughout, their balanced approach is focused strictly on two goals: to “get the story straight,” and to provide useful tools for making better, more informed decisions. |
| george g pennacchi: Mandate for Change Federal Deposit Insurance Corporation, 1987 |
| george g pennacchi: Proceedings , 2004 |
| george g pennacchi: The Future of Pensions in the United States Ray Schmitt, 1993 Table of Contents |
| george g pennacchi: Asset Securitization and Optimal Retention Mr.John Kiff, Michael Kisser, 2010-03-01 This paper builds on recent research by Fender and Mitchell (2009) who show that if financial institutions securitize loans, retaining an interest in the equity tranche does not always induce the securitizer to diligently screen borrowers ex ante. We first determine the conditions under which this scenario becomes binding and further illustrate the implications for capital requirements. We then propose an extension to the existing model and also solve for optimal retention size. This also allows us to capture feedback effects from capital requirements into the maximization problem. Preliminary results show that equity tranche retention continues to best incentivize loan screening. |
| george g pennacchi: Advanced Financial Risk Management Donald R. Van Deventer, Mark Mesler, Kenji Imai, 2011-09-29 An in-depth look at financial risk management Advanced Financial Risk Management integrates interest rate risk, credit risk, foreign exchange risk, and capital allocation using a consistent risk management approach. It explains, in detailed, yet understandable terms, the analytics of these issues from A to Z. Written by experienced risk managers, this book bridges the gap between the idealized assumptions used for valuation and the realities that must be reflected in management actions. It covers everything from the basics of present value, forward rates, and interest rate compounding to the wide variety of alternative term structure models. Donald R. Van Deventer (Hawaii) founded the Kamakura Corporation in April 1990 and is currently President. In 2003, he was voted into the Risk Hall of Fame for having made a profound contribution to the field of risk management. Kenji Imai (Hawaii) heads Software Development for Kamakura and participates in selected Japan-related financial advisory assignments. Mark Mesler (Hawaii) heads the information production for Kamakura Risk Information Services. |
| george g pennacchi: Theory of Asset Pricing George Pennacchi, 2008 |
| george g pennacchi: The Law and Finance of Related Party Transactions Luca Enriques, Tobias H. Tröger, 2019-06-27 This is a comprehensive look at the challenges legislators face in regulating related party transactions in a socially beneficial way. |
| george g pennacchi: Social Security Policy in a Changing Environment Jeffrey R. Brown, Jeffrey B. Liebman, David A. Wise, 2009-12-15 Social Security Policy in a Changing Environment analyzes the changing economic and demographic environment in which social insurance programs that benefit elderly households will operate. It also explores how these ongoing trends will affect future beneficiaries, under both the current social security program and potential reform options. In this volume, an esteemed group of economists probes the challenge posed to Social Security by an aging population. The researchers examine trends in private sector retirement saving and health care costs, as well as the uncertain nature of future demographic, economic, and social trends—including marriage and divorce rates and female participation in the labor force. Recognizing the ambiguity of the environment in which the Social Security system must operate and evolve, this landmark book explores factors that policymakers must consider in designing policies that are resilient enough to survive in an economically and demographically uncertain society. |
| george g pennacchi: Regulation and Resolving Institutions Considered "too Big to Fail" United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs, 2010 |
| george g pennacchi: FDIC Banking Review , 1999 |
| george g pennacchi: The Korean Economy Barry Eichengreen, Wonhyuk Lim, Yung Chul Park, Dwight H. Perkins, 2020-05-11 South Korea has been held out as an economic miracle—as a country that successfully completed the transition from underdeveloped to developed country status—and as an example of how a middle-income country can continue to move up the technology ladder into the production and export of more sophisticated goods and services. But with these successes have come challenges, among them poverty, inequality, long work hours, financial instability, and complaints about the economic and political power of the country’s large corporate conglomerates, or chaebol. The Korean Economy provides an overview of Korean economic experience since the 1950s, with a focus on the period since democratization in 1987. Successive chapters analyze the Korean experience from the perspectives of political economy, the growth record, industrial organization and corporate governance, financial development and instability, labor and employment, inequality and social policy, and Korea’s place in the world economy. A concluding chapter describes the country’s economic challenges going forward and how they can best be met. The volume also serves to summarize the findings of companion volumes in the Harvard–Korean Development Institute series on the Korean economy, also published by the Harvard University Asia Center. |
| george g pennacchi: Ibss: Economics: 1995 Compiled by the British Library of Political and Economic Science at the London School of Economics, 1996 The IBSS is the essential tool for librarians, university departments, research institutions and any public or private institutions whose work requires access to up-to-date and comprehensive knowledge of the social sciences. |
| george g pennacchi: Private Equity in Emerging Markets D. Klonowski, 2012-09-24 This collected edition captures the essence of private equity development in emerging markets, examining the evolution of the private equity industry as well as exit opportunities, financial performance, and anticipated future trends. It also discusses the 'hands-on' aspects of private equity investing in emerging markets. |
| george g pennacchi: Securitization, Risk, and the Liquidity Problem in Banking Allen N. Berger, Gregory F. Udell, 1991 |
| george g pennacchi: IMF Staff papers International Monetary Fund. Research Dept., 1990-01-01 The transition strategy from administratively set interest rates to market rates is discussed. Despite worldwide trends toward financial liberalization, few monetary authorities are prepared to accept as reasonable any interest rate level that is market determined. The paper suggests some helpful indicators to assess the adequacy of interest rates and discusses factors that contribute to a smooth liberalization process. The main conclusion is that interest rate liberalization is not synonymous with laissez-faire policies, but requires the replacement of the administratively set interest rates by indirect monetary management techniques that operate through the market. |
| george g pennacchi: IBSS: Economics: 1993 Vol 42 , 1994 This bibliography lists the most important works published in economics in 1993. Renowned for its international coverage and rigorous selection procedures, the IBSS provides researchers and librarians with the most comprehensive and scholarly bibliographic service available in the social sciences. The IBSS is compiled by the British Library of Political and Economic Science at the London School of Economics, one of the world's leading social science institutions. Published annually, the IBSS is available in four subject areas: anthropology, economics, political science and sociology. |
| george g pennacchi: Public Policy Toward Pensions Sylvester J. Schieber, John B. Shoven, 1997 According to Schieber and Shoven, pension policy will emerge as one of the key economic issues of the next decade. This book provides a guide to the debate.Public and private pensions control almost a quarter of the United States' tangible wealth--equivalent to all of the country's residential real estate. They account for most current saving in the country, are a crucial component of household retirement resources, and have significant effects on labor market mobility and efficiency. Collectively, they hold a tremendous proportion of all common stock. The stock market has boomed during the past decade, as baby boomers have rapidly accumulated pension assets. Now economists are starting to wonder what will happen when the baby boomers retire. It is already clear that the Social Security system will require drastic changes to remain solvent. Will the stock market experience a similar meltdown as baby boomers withdraw their assets from pension plans? What policies might help to avoid such a crisis? According to Schieber and Shoven, pension policy will emerge as one of the key economic issues of the next decade. This book provides a guide to the debate. Topics include the impact of pensions on personal and national saving, the potential for a Pension Benefit Guarantee Corporation financial crisis, the dramatic growth in 401(k) plans, public sector plants, the prospects for adequate retirement income in the future, and recommended directions for pension policies. The book contains ten chapters, four written by Schieber and Shoven.ContributorsRobert Clark, Ping-Lung Hsin, Olivia Mitchell, James Poterba, Andrew Samwick, Jonathan Skinner, Steven Venti, Carolyn Weaver, David Wise, and Elisa Wolper. |
| george g pennacchi: Structural Change in Banking Michael Klausner, Lawrence J. White, New York University. Salomon Center, 1993 The thrift crisis and recent weakness in the banking sector has intensified attention toward regulatory reform. But most proposals take as a given the traditional structure of banking, under which a bank holds illiquid loans and liquid liabilities. Structural Change in Banking explores the possibility of more fundamental changes in bank structure, which would reduce the instability that is inherent in the current structure. The major essays in this book, written by leading authors in the field, examine the historical legacy of limitations on bank branching and their consequences on bank structure and stability; how securitization affects the bank structure, risk, and liquidity; the advantages to a bank from having checking account information about its loan customers; and the potential for money market funds and finance companies to become the banks of the future. Structural Change in Banking is an essential tool for bank regulators, legislators, executives, and anyone concerned with rectifying the instability of traditional banking structure. This book not only makes a strong argument for change, it provides an intelligent analysis of alternatives through which credit can be provided. |
| george g pennacchi: Banking on Basel Daniel K. Tarullo, 2008 |
| george g pennacchi: Mutual Fund Performance and Performance Persistence Peter Lückoff, 2011-01-13 Peter Lückoff investigates why fund flows and manager changes act as equilibrium mechanisms and drive the performance of both previously outperforming and previously underperforming funds back to average levels. |
| george g pennacchi: Review Federal Reserve Bank of St. Louis, 1998 |
| george g pennacchi: The Oxford Handbook of Corporate Law and Governance Jeffrey N. Gordon, Wolf-Georg Ringe, 2018-04-26 Corporate law and corporate governance have been at the forefront of regulatory activities across the world for several decades now, and are subject to increasing public attention following the Global Financial Crisis of 2008. The Oxford Handbook of Corporate Law and Governance provides the global framework necessary to understand the aims and methods of legal research in this field. Written by leading scholars from around the world, the Handbook contains a rich variety of chapters that provide a comparative and functional overview of corporate governance. It opens with the central theoretical approaches and methodologies in corporate law scholarship in Part I, before examining core substantive topics in corporate law, including shareholder rights, takeovers and restructuring, and minority rights in Part II. Part III focuses on new challenges in the field, including conflicts between Western and Asian corporate governance environments, the rise of foreign ownership, and emerging markets. Enforcement issues are covered in Part IV, and Part V takes a broader approach, examining those areas of law and finance that are interwoven with corporate governance, including insolvency, taxation, and securities law as well as financial regulation. The Handbook is a comprehensive, interdisciplinary resource placing corporate law and governance in its wider context, and is essential reading for scholars, practitioners, and policymakers in the field. |
George (given name) - Wikipedia
George Washington, the first president of the United States. George (English: / ˈ dʒ ɔːr dʒ /) is a masculine given name derived from the Greek Georgios (Γεώργιος; Ancient Greek: …
George - Name Meaning and Origin
The name George is of Greek origin and means "farmer" or "earthworker." It is derived from the Greek word "georgos," which combines "ge" meaning "earth" and "ergon" meaning "work." …
George - Meaning of George, What does George mean? - BabyNamesPedia
George is used predominantly in the English language and its origin is Old Greek. The name's meaning is farmer, earthworker . Georgius (Latin) and Georgos (Old Greek) are old forms of …
George - Name Meaning, What does George mean? - Think Baby Names
What does George mean? G eorge as a boys' name is pronounced jorj. It is of Greek origin, and the meaning of George is "farmer". From Greek Georgios, a derivative of geôrgos "farmer", …
George: Name Meaning and Origin - SheKnows
George is a traditionally masculine name with Greek and English roots. The prevailing meaning of George is "farmer" — in Greek it comes from "georgos" which indicates a tiller of the soil.
George Name Meaning, Origin, Popularity, Boy Names Like George …
Apr 6, 2025 · The name George has remained popular throughout the centuries, and is one of the most common names in the English-speaking world. In the United States, the name George …
Meaning, origin and history of the name George
May 30, 2025 · Initially Saint George was primarily revered by Eastern Christians, but returning crusaders brought stories of him to Western Europe and he became the patron of England, …
George: Name Meaning, Popularity and Info on BabyNames.com
Jun 4, 2025 · The name George is a male given name of Greek origin, which means "farmer" or "earthworker." It was originally derived from the Greek name Georgios, which was composed …
George - Wiktionary, the free dictionary
May 29, 2025 · George Soros remains a favorite target of conservative conspiracy theorists, seeing his corrupting influence behind every liberal movement and within every nook and …
George - Wikipedia
GEORGE (computer), early computer built by Argonne National Laboratory in 1957; GEORGE (operating system), a range of operating systems (George 1–4) for the ICT 1900 range of …
George (given name) - Wikipedia
George Washington, the first president of the United States. George (English: / ˈ dʒ ɔːr dʒ /) is a masculine given name derived from the Greek Georgios …
George - Name Meaning and Origin
The name George is of Greek origin and means "farmer" or "earthworker." It is derived from the Greek word "georgos," which combines "ge" meaning …
George - Meaning of George, What does George mean? - B…
George is used predominantly in the English language and its origin is Old Greek. The name's meaning is farmer, earthworker . Georgius (Latin) and …
George - Name Meaning, What does George mean? - Think B…
What does George mean? G eorge as a boys' name is pronounced jorj. It is of Greek origin, and the meaning of George is "farmer". From Greek …
George: Name Meaning and Origin - SheKnows
George is a traditionally masculine name with Greek and English roots. The prevailing meaning of George is "farmer" — in Greek it comes from …
