In this paper, we address the crucial problems of parameters estimation of Collateralized Debt Obligation (CDO). We present a methodology for fair spread estimation of reconstituted (CDO) from European market data. A fundamental part of the pricing framework is the estimation of default probabilities and the structure of dependency. We present a copula based simulation procedure for pricing CDO...

OBJECTIVE To examine the impact of financial compensation on pediatric asthma research participation decision-making and determine whether perceptions of fair compensation differed for parents and adolescents, lower and higher income participants, and compensation-informed and uninformed participants in minimal and above minimal risk research. STUDY DESIGN Adolescents (n = 36) with asthma and...

The paper describes model of a new type for valuation of risky bonds and loans that we call Bayesian Multi-Period (BMP) model. BMP is neither structural model nor reduced form and not a Merton-type model at all. BMP proceeds from concept of a risky bond (loan) value as Net Present Value (NPV) of a cash flow, generated by a bond. For a defaultable bond NPV is random value, and BMP identifies “fa...

This article introduces new empirical evidence exploring the relationship between introduction of Fair Value Disclosure (FVD) and audit fees, moderating effect Global Financial Crisis (GFC) on this relationship. study is primarily motivated by limited inconclusive research monitoring costs resulting from FVD. The Ordinary Least Squares (OLS) method using a sample 222 Jordanian firms during 2005...

The current financial crisis reminds us about previous economic crisis that have remained in history, as well as of large bankruptcies that were largely debated within trade literature, which themselves also comprise similarity elements with nowadays situation. We therefore couldn’t agree more with George Bernard Shaw who used to say that “We learn from history that we learn nothing from histor...