Rampini, Viswanathan, and Vuillemey (RVV) show empirically that net worth drives hedging. I identify discrepancies to which RVV's key findings are not robust: the positive correlation between hedging is independent of institution size, house price decline shocks (which RVV use for identification) have mixed effects on robust across alternative specifications, treatment increasing in real estate...

The rural finance of China is still weak in the Chinese financial system. Without the support of the capital factor, the new rural construction of socialism could not be realized, but the investment of the capital factor and the enhancement of the humanistic morality must be based on the good credit information resource. The rural financial departments should fully support the construction of t...

This paper surveys a number of well-known expert systems in the domain of finance. The idea is to illustrate the span of typical expert systems in finance and to provide an insight into the approaches and techniques they employ. The systems considered in the paper are all working systems, and come from different fields of finance. Specifically, the systems considered are FINEVA (from the field ...

This paper surveys a number of well-known expert systems in the domain of finance. The idea is to illustrate the span of typical expert systems in finance and to provide an insight into the approaches and techniques they employ. The systems considered in the paper are all working systems, and come from different fields of finance. Specifically, the systems considered are FINEVA (from the field ...

The mathematics of finance contain some of the most beautifut applications of probabitity and optimization theory. Yet despite its seemingly abstruse mathematics, finance theory over the tast two decades has found its way into the mainstream of finance practice. Today much of the applied financial research on the use of mathematical models tatces place within financial institutions. It was not ...