Search Results - "Galai, Dan"

Dividend policy relevance in a levered firm—The binomial case by Galai, Dan, Wiener, Zvi

“…In this paper we illustrate a world with perfect capital markets and with no taxes, and show the condition under which the stockholders in a levered firm will…”
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Information Effects on the Bid-Ask Spread by COPELAND, THOMAS E., GALAI, DAN

“…An individual who chooses to serve as a market-maker is assumed to optimize his position by setting a bid-ask spread which maximizes the difference between…”
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Day-of-the-Week Effect in High Moments by Galai, Dan, Kedar-Levy, Haim

“…Evidence from equity markets worldwide indicates that the Day‐of‐the‐Week anomaly appears to fade from the first moment of the distribution of daily returns…”
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Credit Risk Spreads in Local and Foreign Currencies by GALAI, DAN, WIENER, ZVI

“…Governments, corporations, and even small firms raise and denominate capital in different currencies. We examine the micro-level factors that should be…”
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A comparative analysis of current credit risk models by Crouhy, Michel, Galai, Dan, Mark, Robert

“…The new BIS 1998 capital requirements for market risks allows banks to use internal models to assess regulatory capital related to both general market risk and…”
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Sovereign debt auctions: Uniform or discriminatory? by Brenner, Menachem, Galai, Dan, Sade, Orly

“…Many financial assets, especially government bonds, are issued by an auction. An important feature of the design is the auction pricing mechanism: uniform…”
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Stakeholders and the composition of the voting rights of the board of directors by Galai, Dan, Wiener, Zvi

“…We propose a new approach to dynamic representation of different groups of stakeholders on the board of directors. This approach is based on a simple economic…”
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The “Ostrich Effect” and the Relationship between the Liquidity and the Yields of Financial Assets by Galai, Dan, Sade, Orly

“…This article documents that government T‐bills provided a higher yield to maturity than an equally risky illiquid asset (bank deposits) in Israel. The…”
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Liquidation triggers and the valuation of equity and debt by Galai, Dan, Raviv, Alon, Wiener, Zvi

“…Many bankruptcy codes implicitly or explicitly contain net-worth covenants, which provide the firm’s bondholders with the right to force reorganization or…”
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Bid-Ask Spreads and Implied Volatilities of Key Players in a FX Options Market by Galai, Dan, Schreiber, Ben Z.

“…This study proposes a simultaneous estimation of the bid–ask spreads (BAS) and implied volatility (IV), based on trading options of various key players in the…”
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Volatility-Decay Risk Premia by Galai, Dan, Kedar-Levy, Haim, Schreiber, Ben Z.

“…We estimate post-jump volatility-decay risk premia as the predictable difference between periods of high and low diffusive volatility. By constructing straddle…”
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Seasonality in outliers of daily stock returns: A tail that wags the dog? by Galai, Dan, Kedar-Levy, Haim, Schreiber, Ben Z.

“…We document significant intra-year seasonality in outliers of S&P500 daily rates of return. Controlling for outliers in dummy regressions reveals that both the…”
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Taxes, M-M Propositions and Government's Implicit Cost of Capital in Investment Projects in the Private Sector by Galai, Dan

“…The corporate tax claim of the government is internalised in the analysis of the corporation's capital structure. In this framework the M‐M Propositions are…”
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Prototype risk rating system by Crouhy, Michel, Galai, Dan, Mark, Robert

“…This paper explores the traditional and prevalent approach to credit risk assessment – the rating system. We first describe the rating systems of the two main…”
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Government Support of Investment Projects in the Private Sector: A Microeconomic Approach by Galai, Dan, Wiener, Zvi

“…We examine government decisions on subsidizing investments in the private sector and discriminating among firms in its support programs. By taxing corporate…”
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Protype risk rating system by Crouhy, Michel, Galai, Dan, Mark, Robert

“…This paper explores the traditional and prevalent approach to credit risk assessment - the rating system. It first describes the rating systems of the two main…”
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Information Effects on the Bid-Ask Spread by Copeland, Thomas E., Galai, Dan

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A Note On 'Equilibrium Warrant Pricing Models And Accountin by Galai, Dan

“…Two models for valuing warrants were presented and tested by Noreen and Wolfson (1981). One model was based on the Black and Scholes (1973) option-pricing…”
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Exclusive vs. independent agents: a separating equilibrium approach by Venezia, Itzhak, Galai, Dan, Shapira, Zur

“…We provide a separating equilibrium explanation for the existence of the independent insurance agent system despite the potentially higher costs of this system…”
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The settlement day effect in the French Bourse by Crouhy, Michel, Galai, Dan

“…The market-microstructure implications on stock returns and volatility of the settlement procedure of stock transactions are investigated. The question is, to…”
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