inflation were insufficient to explain spikes in bond yields. I discover the effect of credit indicators on bond yields by estimating a Gaussian six-factor affine model of term structure. One of these factors is a credit variable that I construct using a principal component analysis of notable indicators. Using impulse response functions‚ I find that positive credit movements raise interest rates at all maturities. Furthermore‚ shocks to credit have a greater immediate impact compared to those of real activity
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Thoughts on Economics Vol. 20‚ No. 04 Customer Satisfaction of Islami Bank Bangladesh Limited– A Factor Analytic Approach Muhammad Mahbubur Rahman( Mohammad Yasir Rabbi(( [Abstract: With the opening-up of the economy‚ business activities are getting more and more competitive and consequently focusing more on the satisfaction of customers by providing tailor made products and rendering services. In the age of globalization and privatization‚ financial institutions‚ mainly banks‚ have
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Principal Issues with Epistemology Earnell Branson PHL/215 June 18‚ 2012 Dr. Anne M. Edwards Principal Issues with Epistemology Society has attempted to decipher what is real. The idea of what is real and what is understood has been a problem for societies. The different societies and cultures believed in other beings such as different God’s. Greek society was a leader in worshipping and believing in God’s that perceived to be real in their minds and culture. Worshipping these God’s begun
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However‚ besides losing the tax shield from debt‚ high equity financing leads to an increasingly diffused ownership‚ which would in turn causes problems such as shareholder – management principal – agent problem and asymmetric information problem. Principal – agent problem: As agent of the shareholder (principal)‚ management should aim at maximizing shareholders’ value‚ i.e. the market value of the equity. However‚ management tends to serve its own interests. In order to make management act in line
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Agency Costs and Corporate Governance I Introduction Before analysing problems that occur when institutional ownership and control are separated‚ it should be outlined why institutions exist at all. Therefore‚ chapter two examines why organizations occur in economy. Chapter three addresses the agency problem‚ based on this organization. Chapter four addresses the common ways to solve the agency problem and chapter five gives a comparison over the three most important corporate governance systems
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DISCUSS THE CAUSES AND COSTS ASSOCIATED WITH PRINCIPAL AGENCY PROBLEM (10) Principal agency problem refers to a conflict arising when people appointed (agents) and entrusted to look after the interests of others (principals) use the authority‚ power or resources for their own benefit instead. It is a pervasive problem and exists in practically every organisation whether a business‚ church‚ club or government. Organisations try to solve it by instituting measures such as tough screening processes
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AGENCY THEORY AND ACCOUNTING CHOICE: ISSUES AND HALLENGES BY OMEJI IKECHUKWU MAT NO MGS0803060 DEPARTMENT OF ACCOUNTING FACULTY OF MANAGEMENT SCIENCES UNIVERSITY OF BENIN‚ BENIN-CITY‚ EDO STATE‚ NIGERIA. OCTOBER‚ 2012. AGENCY THEORY AND ACCOUNTING CHOICE: ISSUES AND HALLENGES BY OMEJI IKECHUKWU MAT NO MGS0803060 DEPARTMENT OF ACCOUNTING FACULTY OF MANAGEMENT
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TERM PAPER ON EVALUATION OF MARKETING AND LOGISTICS INTERFACE AND ITS ADVANTAGES IN AN ORGANIZATION Submitted Manikanta ABSTRACT This study ON EVALUATION OF MARKETING AND LOGISTICS INTERFACE AND ITS ADVANTAGES IN AN ORGANIZATION. This research paper is basically to evaluate the marketing and logistics cooperation and to know its importance in any organization .The primary purpose of the paper is to find the advantages of an organization to have Marketing and logistics interface.
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Chapter 1: Problem 2. Explain several dimensions of the shareholder-principal conflict with manager agents known as the principal-agent problem. To mitigate agency problems between senior executives and shareholders‚ should the compensation committee of the board devote more to executive salary and bonus (cash compensation) or more to long-term incentives? Why? What role does each type of pay play in motivating managers? The compensation committee should devote more to long-term incentives for
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losing: understanding managers ’ reactions to strategic change. HumanRelations‚ 6‚ pp. 527-46. Goldstein‚ Howard (1986) Social learning and change. Tavistock Publications New York & London. p.v. Grossman S.J. & Hart O. D. (1983)‚ An Analysis of the Principal-Agent Problem Econometrica‚ Vol. 51‚ No. 1. pp. 7-45. Grusky Oscar (1959)‚ Organizational goals and the behavior of informal leaders The American Journal of Sociology‚ Vol. 65‚ No. 1. pp. 59-67. Guth‚ W.D. and MacMillan‚ I.C. (1986) Strategy implementation
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