FINA 3023 Financial Markets & Institutions Class 15 Today s Today’s class The role of financial intermediaries Brokers and dealers Problems in (financial) markets: Asymmetric i f A t i information ti Adverse selection Moral hazard Chapter 8 p 2 The market for “lemons” lemons When‚ in a market‚ sellers of a product know more (asymmetric information) about it than the buyers‚ the market does not function properly. properly “The Market for Lemons: Quality Uncertainty
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A stream of customers come through the doors of the local cafe on a Saturday morning – parents with their sweaty‚ post-sport children – have brunch and coffee‚ and pay with the debit or credit card. A few days later – Tuesday or Wednesday in many cases – the cafe is able to make use of that money. The wait comes from a series of built-in delays: no transactions on a weekend; overnight inter-bank transfers; ‘settlement’ periods. Radically reducing this time delay would be a major benefit to the millions
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the way. Several people have done inspiring things to accomplish what they wanted. Strong heroes like Anne Frank‚ Jackie Robinson‚ and Helen Keller had to fight hard for a long time to reach their goal. The first person who should be in the Hero Hall of Fame is Anne Frank. She was around 9 years old when she went into hiding from the Nazis. She was a little girl‚ in school‚ when the Nazis starting invading. So‚ to protect their family‚ her parents decided to take her and her sister and go into
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Pete Rose Bart Giamatti’s decision to ban Pete Rose from the Baseball Hall of Fame was not a fair decision at all. Pete Rose was placed on Baseball’s ineligible list in 1989 when commissioner of baseball‚ Bart Giamatti concluded that Rose had bet on baseball games‚ including games involving his own team‚ the Cincinnati Reds. In an agreement made with Baseball‚ Rose accepted his banishment from the sport. Although he never admitted to having gambled on baseball games (Maury). Pete Rose was a phenomenal
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"One is born‚ One dies‚ The land increases" (Galla). When you first enter the hall this is the quotation written on the ceiling and it can be viewed and interpreted in many ways. One is born and dies in the same land or one is born and there is no hope or opportunity. The implication that one is born signifies birth and the welcoming of one into the world. When one is born they are added to the world and population is increased. When one dies it implies that life is over and one is taken off the
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In the quirky yet sophisticated film‚ Annie Hall (1977) comedian Alvy Singer (woody Allen) takes audience members on a detailed story of his life. Speaking directly to the audience in front of a bare background‚ Singer reflects briefly on his childhood and his early adult years before settling in to tell the modern romance story of how he and Ms. Annie Hall met. Throughout this film‚ Allen uses various cinematic techniques to contribute to the tone of the story. Allen makes a unique effort to accompany
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Hello dreadful students‚ your continuance to skip school‚ eat in class and run in the halls will NOT DO! I’m your new high school principal. I’m planning to help make this school a better place since I’ve heard many horrible things about the students of this school and their dreadful behaviors‚ so I made several new rules you must follow if you want to stay alive. If you skip school‚ your feet will be brutally and painfully chopped off‚ or maybe we’ll burn you alive whenever you come back to school
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I walked down the colossal halls of the Lithiim Temple. Deep blue crystals perfectly accented the white walls. Two small streams flowed down to the Temple’s center and created a vast moat that surrounded the elaborate throne of my Lord. A marble statue represented him now‚ but if I was to report to him‚ I had to recite the prayer of revival. “Mseno‚ Mestro Enviso‚ pio used. Pemtime elnor edu ultpresci. Suder esmas allade tado imgancion‚ tures elsur supremo. U bilantiz habord mimete yme pemtime macinar
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which was to finish his homework at 10:00 so he would get a good night sleep. Do student athletes get enough time to do their homework? Do they need a study hall period instead of physical education? Do they get enough sleep? This is a highly debated‚ controversial topic among students‚ teachers‚ parents‚ and administrators. Many think
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MULTINATIONAL CORPORATIONS IN INDIA MEANING • Multinational corporations (MNCs) are huge industrial organizations having a wide network of branches and subsidiaries spread over a number of countries. The two main characteristics of MNCs are their large size and the fact that their worldwide activities are centrally controlled by the parent companies. POSITIVE ROLE OF MNCs • The frst important contribution of MNCs is its role in flling the resource gap between targeted or desired
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