... which are seen as a form of market imperfection. The
mainstream theoryof the firm evolved under the paradigm of the agency
theory and the transaction costs theory as a theoryof economic organization
rather ... amendment of
the existing theoryof financial intermediation.
The structure of this paper is as follows. First, we introduce the foundations
of the modern literature of financial intermediation theory. ... review the doctrines of the theoryof financial intermediation.
2
These
are specifications, relevant to the financial services industry, of the agency
theory, and the theoryof imperfect or asymmetric...
... efficiently, the reputational
capital of an agent must equal the present value of the stream of future profits, or franchise value,
of her business.
The concept of reputational capital is meaningful ... Structural implications of CTF
Circuit theoryof finance (CTF) bears important implications in terms of financial market
structure, microeconomic imbalances, and the role of saving for economic ... on the basis of verifiable and tested information. Information providers might be either
profit or non-profit outfits.
Providers of customized information might operate for a profit and sell...
... domain, X(f )issimplyacopyofthe
spectrum
˜
X(f) shifted to a center frequency of f =+f
c
and a mirror copy of
˜
X(f)shifted
to a center frequency of f = −f
c
.
The operation of modulation can be defined ... coherence if the magnitude of the carrier wave does not
change over a spatial displacement of the receiver. Once again, we express the condition
of spatial coherence in terms of the static narrowband ... The theory is applicable to any type of wireless data transmission, regardless of
bandwidth, carrier frequency, or environment of operation.
The final chapters of the dissertation deal with applied...
... behavior of the number
of multiplications is also quadratic.
Convolution algebras are derived from algebras of polynomials. Given a polynomial P (u) of
degree D, one can define an algebra of dimension ... Introduction
Complexity theoryof computation attempts to determine how “inherently” difficult are certain
tasks. For example, how inherently complex is the task of computing an inner product of two
vectors of length ... original proof); the reference I like best is Adrian Albert’s book [1]. The
theorem asserts that the tensor product of fields is isomorphic to a direct sum of fields, and the
proof of the theorem...
... number of
collisions per particle (a measure of time), given by
τ ≡
t
0
T
1/2
(t
)
dt
.
The use of this measure of time renders the equations of motion linear.
The three eigenvalues of this ... of the linearised Boltzmann equation, at each order in the
expansion. Since the solution of equations of the type of Eq. (12.22) is determined
up to the addition of an arbitrary combination of ... sheared
system is of a much higher granular temperature than that expected on the basis of
steady-state solutions of the corresponding hydrodynamic equations. In this case the
208 Theoryof rapid granular...
... into a theoryof
inventive problem solving which he named TRIZ.
3.0 TRIZ:
The Theoryof Inventive Problem Solving
There are a number of laws in the theoryof TRIZ. One of them is the Law of Increasing ...
Xerox Corporation
7.0 TRIZ Software
Because TRIZ is built on a database of hundreds of thousands of patents, principles, operators,
contradictions, etc. use of software helps engineers with ... nonmoving object
3. Length of moving object
4. Length of nonmoving object
5. Area of moving object
6. Area of nonmoving object
7. Volume of moving object
8. Volume of nonmoving object
9. Speed...
... or office and offer
the most future-proof solution in terms of pure bandwidth capabilities. But in
some cases, FTTP may not be the optimal solution in terms of overall cost and the
value of ... PAPER
The Economics
of FTTN vs. FTTP
The Economics of FTTN vs. FTTP
Page 3
The business case
Every operating company must consider its own business
case in relation to the capabilities of the existing ... The Economics of
FTTN vs. FTTP
There are three predominant schools of thought regarding how to meet the ever-
increasing bandwidth needs of consumers and businesses. Fiber-to-the-premise...
... EFFICIENCY OF CAPITAL
12.
THE STATE OF LONG-TERM EXPECTATION
13.
THE GENERAL THEORYOF THE RATE OF INTEREST
14.
THE CLASSICAL THEORYOF THE RATE OF INTEREST
o
APPENDIX ON THE RATE OF INTEREST ... advantages of private and national thrift, the
traditional attitude towards the rate of interest, the classical theoryof unemployment, the
quantity theoryof money, the unqualified advantages of laissez-faire ... and of the trade cycle.
Another feature, especially characteristic of this book, is the theoryof the rate of interest.
In recent times it has been held by many economists that the rate of current...
... Canada Inc.
7-
18
Rationale Behind the Theory
↑⇒↓⇒<
↓⇒↑⇒>
of
t
of
of
t
*of
R PR* R
R P RR
until
R
of
= R*
In an efficient market all unexploited profit opportunities will be
eliminated
... security
t
t1t
P
CPP
R
+−
=
+
R = the rate of return on the security
P
t+1
= price of the security at time t+1, the end of the holding
period
Pt = price of the security at time t, the beginning of the holding
period
C ... 2011
Pearson Canada Inc.
7-
13
Formal Statement of the Theory
X
e
= X
of
X
e
= expectation of the variable that is being forecast
X
of
= optimal forecast using all available information
...