European Monetary Union Bond Market Dynamics: Pre & Post Crisis
Despite the wide range of alternatives that have been proposed by
academics and practitioners, the Sharpe ratio remains one of the most popular metrics used to
evaluate investment performance. In the proposed research, risks and returns are analysed on
the European Monetary Union bonds market, with different bonds ratings and maturities,
during the period from 2005 to 2017. The past and current trends and patterns in bond returns
are defined using the methods of statistic, correlation and econometric analysis. It was shown
that the bond returns are not normally distributed, and that the return distribution depends on
bond maturity and the economic situation in the market. The relation between volatility and
bond maturity and the Sharpe ratio appeared to be non-linear and not consistent over time.
However, the hypothesis about the inverse relation between the Sharpe ratio and bond
maturity is not supported by the evidence. Finally, with the help of time-series models it was
proven that in the period 2005–2017, the returns on European Monetary Union bonds market
tend to decline over time. We used ARIMA models for analysis of the residuals from the
If you build the present in the image of the past you will miss out entirely on challenges of the future. The first meeting of the G20 leaders originally set up as the finance ministers’ forum at the initiative of the G8 leaders2 more than a decade ago in 1999 after the Asian financial crisis, launched a new phase of development both of the international financial architecture and the global governance system. The EU participation in the G20 has been full scale from its birth, unlike gradual inclusion of the EU into the G7 processes. The reasons are clear. The internal factor defining the EU influence in the G20 was the beginning of the third stage of EMU and adoption of the single currency. Success of the euro as the single and a second reserve currency, its establishment as a factor of the global economic and monetary system, defined the EU role in the G20.
Implementation of IT and program projects seems to be very complicated and taught process, associated with many uncertainties and risks. Sure, this does not mean the rejection of such projects, supposed the more responsibility for the decision making process of new information technologies implementation. To manage various problems which face project managers, it makes sense to use special risk management software. The functionality of modern risk management systems allows identifying risk occurrence, conducting scenario modeling, take the more appropriate managing decisions based on scenario analysis and mathematical calculations. All these functionality will support project manager to optimize his business activities in accordance to risk management practices and ensure better coordination and balance inside the project team. Currently there available a wide range of project management software, but it is reasonable to conduct some analysis in terms of applicability to specific IT projects. The author will review the most appropriate software solutions for the risk management in IT area, conduct competitive analysis and provide some recommendations on software selection.
The ACRN Journal of Finance and Risk Perspectives (JoFRP) is a strictly academic, double-blind peer reviewed international e-journal, by the ACRN Oxford Research Centre, UK. All article abstracts are indexed in the SSRN database, the social science research network, in EBSCO, and are searchable through Google Scholar. It is included in the h-Index and impact calculations. The journal is listed in the Cabell Quality Publishing Database, which is typically relevant for tenure track evaluations.
This journal is special because it aims to provide an outlet for inter-disciplinary and more in-depth research papers with various methodological approaches. The target group of this journal are academics who want to get a better understanding of the interconnectedness of their fields by acknowledging the methods and theories used in closely related areas.
The JoFRP thus aims to overcome the self-imposed paradigmatic boundaries and reflexive isomorphisms of the individual, typically rather narrow fields and invites new and combined perspectives from the fields of Finance, Risk and Accounting. Despite its methodological, topical and disciplinary openness - it does so with a strong focus on academic rigor and robustness. All articles will be strictly double-blind peer reviewed and authors are frequently invited to discuss the ramifications of their articles in the global FRAP conferences.
Narrative functions very greatly and are studied in a wide interdisciplinary spectrum. However, one of the functions of the narrative have not yet been studied in detail and therefore deserves a special attention. This is an alarm function: narratives can not only reconstruct past events, but they can also warn on the possible danger, predict the future events and simulate the reactions of recipients. In theoretical narratology, this function is perceived with caution: narrative is usually considered as a form referring to the past. At the same time, the applied research shows that narratives could be actively involved in the practices of predicting the future. This mechanism is largely based on the collective memory. The article deals on the problem of narrative representation of risk and its relation to collective memory.
The tutorial discusses the practical computer analysis in the solution of problems in financial management topics . Included guidelines for the quantitative description of the planning system in financial management. An overview of key categories and provisions for asset management and capital. Revealed theoretical issues related to investment management . The material in this manual has a scientific and practical character and contains the information about the typical problems of financial management , which will be in demand by readers directly in research and professional activities. The manual is intended for students and undergraduates enrolled in the direction of "Economics" and "Management" , and may also be useful to managers and professionals , both financial and non-financial corporations.
The possibility of using the category of "value community" in the study of risk is analyzed. On the example of the "psychophysical numbing" studies we try to show the possible contribution of sociology based on utilizing the resources of functionalism and of "folk sociology" approach.
The present article contains a description of new method of royalty calculation based on analysis of risk decrease generated by franchisor's intellectual assets transmitted to franchises.
Smoking is a problem, bringing signifi cant social and economic costs to Russiansociety. However, ratifi cation of the World health organization Framework conventionon tobacco control makes it possible to improve Russian legislation accordingto the international standards. So, I describe some measures that should be taken bythe Russian authorities in the nearest future, and I examine their effi ciency. By studyingthe international evidence I analyze the impact of the smoke-free areas, advertisementand sponsorship bans, tax increases, etc. on the prevalence of smoking, cigaretteconsumption and some other indicators. I also investigate the obstacles confrontingthe Russian authorities when they introduce new policy measures and the public attitudetowards these measures. I conclude that there is a number of easy-to-implementanti-smoking activities that need no fi nancial resources but only a political will.
One of the most important indicators of company's success is the increase of its value. The article investigates traditional methods of company's value assessment and the evidence that the application of these methods is incorrect in the new stage of economy. So it is necessary to create a new method of valuation based on the new main sources of company's success that is its intellectual capital.