Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 4 of 4
Full-Text Articles in Business
'Financial Derivatives: The New Gold?, Michael Rafferty, Dick Bryan
'Financial Derivatives: The New Gold?, Michael Rafferty, Dick Bryan
Sydney Business School - Papers
For many economists, the current period of globalized finance lacks an apparent material anchor such as gold once was. This paper contends that in an important way the anchoring function is currently undertaken by financial derivatives. These contracts are not just about risk management and speculation. Critically also, they are commensurating the values of different financial assests, including different currencies.
Financial Literacy: A Growing Concern In Modern Society, Sonia Marcolin, Anne Abraham
Financial Literacy: A Growing Concern In Modern Society, Sonia Marcolin, Anne Abraham
Faculty of Commerce - Papers (Archive)
This paper highlights the ongoing need for financial literacy research in a rapidly changing society with deregulated markets, new financial products, .ready availability of credit and an emphasis on self-reliance. A discussion of the importance of financial literacy for both individuals and the economy is followed by a review of studies conducted in Australia, the United States and the United Kingdom. The studies are compared and analysed to determine areas of both commonality and inconsistency. As a result of this analysis, the paper presents recurrent themes that could be extended, together with potential new areas for financial literacy research.
A Semiparametric Model Approach For Financial Bankruptcy Prediction, Maria H. Kim, Paul Yoo
A Semiparametric Model Approach For Financial Bankruptcy Prediction, Maria H. Kim, Paul Yoo
Faculty of Commerce - Papers (Archive)
In this study, we propose a model that achieves both accurate modeling and sustainable model stability for corporate bankruptcy prediction. This model is to model the given samples accurately as well as to respond adequately to the unknown inputs by employing semiparametric approach where parametric model and nonparametric Neural Networks (NNs) are combined. By exploring the structural relationships within the available sample data, the proposed model is assumed to retain the advantages of both parametric and nonparametric models. The proposed model is compared to pure parametric models such as Multivariate Discriminant Analysis (MDA) and Logistic Regression (LR), and pure nonparametric …
Financial Liberalization Index For Nepal, Min B Shrestha, Khorshed Chowdhury
Financial Liberalization Index For Nepal, Min B Shrestha, Khorshed Chowdhury
Faculty of Business - Papers (Archive)
A financial liberalization index (FLI) for Nepal is constructed in order to show the degree or the level of financial liberalization at a particular time. FLI is calculated on the basis of principal components method following Demetriades and Luintel (1997), Bandiera, Caprio et al. (2000), Laeven (2003), and Laurenceson and Chai (2003). The index comprises eight policy components, viz, (1) interest rate deregulation (IRD), (2) removal of entry barriers (REB), (3) reduction in reserve requirement (RRR), (4) easing in credit control (ECC), (5) implementation of prudential rules (IPR), (6) stock market reform (SMR), (7) privatization of state-owned banks (PSB), and …