Economic and Regulatory Capital in Banking: What is the Difference?∗ Abel Elizalde Rafael Repullo CEMFI and UPNA CEMFI and CEPR July 2006 Abstract We analyze the determinants of regulatory capital (the minimum required by regulation)‚ economic capital (that chosen by shareholders without regulation)‚ and actual capital (that chosen with regulation) in the single risk factor model of Basel II. We show that variables that only affect economic capital‚ such as the intermediation margin
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order” business model and customer service focus which includes direct selling. Dell’s ability to maintain low levels of finished goods inventory minimized the cash conversion cycle to a high extent‚ thus minimizing the need for costly working capital. In past years‚ Dell has mainly financed its operations internally and secondly through the issuance of shareholder equity and small amounts of long term debt. Statement of Problem Being more flexible and responsive to market demands‚ Dell will
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major theories on capital structure: By way of a conventional start‚ perhaps it would be worth our while to look at what "capital structure" actually means. In broad terms‚ it is essentially the firms ’ mix of debt and equity but it would be wrong to assume that this is all there is to it. These two terms belie the complexity that lies beneath‚ from the viewpoint of the decisions that any firm must take - that is to say‚ what kind of debt and which type of equity. Capital structuring would then
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Poe’s “The Raven” Edgar Allan Poe’s “The Raven has various symbols that set the depressing tone for the poem. One of the most important symbols within this poem is Lenore‚ the woman whom the narrator is completely distraught about. She symbolizes beauty and deep‚ unconditional love. Because Lenore represents those things‚ she brings a sense of purity and helplessness to the tone of the poem “The Raven.” Although we do not know much about how she looks‚ Lenore symbolizes beauty which brings a
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Industry: Investigating the Role of Human Capital Ashraf Bany Mohammed Faculty of Information Technology‚ Middle East University P.O. Box: 383‚ Amman 11831‚ Jordan Tel: 962-777-588-997 Received: November 19‚ 2010 E-mail: abany@meu.edu.jo Accepted: December 22‚ 2010 doi:10.5539/ijbm.v6n5p217 Abstract Software industry is realized as one key opportunity for socio-economic development‚ especially for developing countries. Human Capital heavily plays a critical role in such knowledge-based
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Edgar Allan Poe had written many poems from The Raven to El Dorado and Lenore to Alone‚ though they have similar themes they are never quite the same. Poe was born in Boston‚ Massachusetts‚ his parents died before he was old enough to really know them and he went to boarding school. On top of that he had a gambling problem when he was younger‚ but there is always a silver lining. “Poe’s father and mother‚ both professional actors‚ died before the poet was three years old”(poets.org). Edgar Allan
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Edgar Allan Poe Compared to Robert Frost HUM 2000 A1 Apryl Price July 25‚ 2013 Edgar Allan Poe Compared to Robert Frost When comparing Edgar Allan Poe’s “The Raven” to Robert Frost’s “The Road Not Taken” it seems that there are plenty of obvious similarities that are on the surface and there are subtle differences that one can find when they truly look deep into the meanings of things. In both poems the speaker is putting all meaning into what they are seeing. The speaker in
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Poe first brought "The Raven" to his friend and former employer George Rex Graham of Graham’s Magazine in Philadelphia. Graham declined the poem‚ which may not have been in its final version‚ though he gave Poe $15 as charity.[29] Poe then sold the poem to The American Review‚ which paid him $9 for it‚[30] and printed "The Raven" in its February 1845 issue under the pseudonym "Quarles"‚ a reference to the English poet Francis Quarles.[31] The poem’s first publication with Poe’s name was in the Evening
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Does Poe really reveal his style of writing in “The Philosophy of Composition”? This paper is about Edgar Allan Poe’s essay The Philosophy of Composition and it analyses the composition itself and tries to see whether he actually said the truth in his writing or not. Being known as a poet‚ short-story writer‚ critic and editor‚ Edgar Allan Poe was born on January the 19th 1809 in Boston. He is one of the precursors of short stories in the American literature and most of the themes he wrote
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not even know what happiness is. With the nature of Edgar Allan Poe’s poems‚ people have labeled him paranoid‚ neurotic‚ oversexed‚ addicted to various substances‚ until all the public is left with is an unstable man sitting in a dim room‚ with a raven over his door‚ a bottle at his table‚ a pipe full of opium‚ scribbling insane verses. In my opinion‚ Poe was one of the most prolific; touching writers I have come across in my readings. What he wrote stings you into an emotional response‚ and you
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