Boards of Directors Assessing Corporate Culture: It's About Time!
The Board of Directors bears responsibility for oversight and control of the management of an enterprise. Their duty to monitor management actions and performance includes assessing the risks that the...
View ArticleKeynote Remarks of Commissioner Brian Quintenz before the Symphony Innovate...
Keynote Remarks of Commissioner Brian Quintenz before the Symphony Innovate 2017 Conference
View ArticleThe Computational Complexity of Clearing Financial Networks with Credit...
We consider the problem of clearing a system of interconnected banks. Prior work has shown that when banks can only enter into simple debt contracts with each other, then a clearing vector of payments...
View ArticleOn Drawdown-Modulated Feedback Control in Stock Trading. (arXiv:1710.01503v1...
Control of drawdown, that is, the control of the drops in wealth over time from peaks to subsequent lows, is of great concern from a risk management perspective. With this motivation in mind, the focal...
View ArticleOn Inefficiency of Markowitz-Style Investment Strategies When Drawdown is...
The focal point of this paper is the issue of "drawdown" which arises in recursive betting scenarios and related applications in the stock market. Roughly speaking, drawdown is understood to mean drops...
View ArticlePrepared Remarks of Chairman J. Christopher Giancarlo at Press Conference to...
Prepared Remarks of Chairman J. Christopher Giancarlo at Press Conference to Announce Comparability Determination on EU Margin Requirements and a Common Approach on Trading Venues
View ArticleCFA Program Curriculum 2018 Level I, Volumes 1 - 6 Box Set
Clear, concise instruction for all CFA Level I concepts and competencies for the 2018 examThe same official curricula that CFA Program candidates receive with program registration is now publicly...
View ArticleAudit Guide: Audit Sampling
Considered the industry-standard resource and updated as of March 1, 2014, the Audit Sampling Guide summarizes applicable requirements and practices, and delivers “how-to” advice to help auditors apply...
View ArticleOut of Our Minds: The Power of Being Creative, 3rd Edition
Ken Robinson argues that organisations everywhere are trying to fix a problem that originates in schools and universities: "It is often said that education and training are the keys to the future. They...
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A General Framework for Portfolio Theory. Part II: drawdown risk measures....
The aim of this paper is to provide several examples of convex risk measures necessary for the application of the general framework for portfolio theory of Maier-Paape and Zhu, presented in Part I of...
View ArticleCan We have an ETF Meltdown?
What is the magic that allows us to have intraday liquidity through an ETF on a market that itself trades more or less by appointment? Case in point: the high yield bond market. Or emerging markets....
View ArticlePushing Crime Around the Corner? Estimating Experimental Impacts of...
Bogota intensified state presence to make high-crime streets safer. We show that spillovers outweighed direct effects on security. We randomly assigned 1,919 "hot spot" streets to eight months of...
View ArticleAdvertising Spending and Media Bias: Evidence from News Coverage of Car...
Do news media bias content in favor of advertisers? We examine the relationship between advertising by auto manufacturers in U.S. newspapers and news coverage of car safety recalls. This context allows...
View ArticleEducational Choice, Rural-urban Migration and Economic Development -- by...
Observing rapid structural transformation accompanied by a continual process of rural to urban migration in many developing countries, we construct a micro founded dynamic framework to explore how...
View ArticleRanking Firms Using Revealed Preference -- by Isaac Sorkin
This paper estimates workers' preferences for firms by studying the structure of employer-to-employer transitions in U.S. administrative data. The paper uses a tool from numerical linear algebra to...
View ArticleDynamic Trade, Endogenous Institutions and the Colonization of Hong Kong: A...
To explore the interplays between trade and institutions, we construct a staged development framework with multi-period discrete choices to study the colonization of Hong Kong, which served to...
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