In this paper we consider modeling of credit risk within the Libor market models. We extend the classical definition of the defaultfree forward Libor rate to defaultable bonds with credit ratings and develop the rating based Libor market model. As driving processes for the dynamics of the default-free and the pre-default term structure of Libor rates time-inhomogeneous Lévy processes are used. ...

In the context of people’s gradually rising consumption levels and urgent need to upgrade tourism market, continuous homogenization souvenirs is beginning seriously affect shopping experience tourists. This study aims explore how tourists perceive phenomenon this affects tourists’ purchase intention. constructs a hypothesis model relationship among perceived homogeneity, value, intention based ...

in this paper, we will review the foreign exchange market and will try to extract an exchange market pressure and an intervention index for iran by following the weymark (1995) approach to evaluate the central bank of iran’s exchange rate policy during 1368:q1 to 1391:q3. the estimation method employed, is the econometric technique known in the literature as the two-stage least squares (2sls).t...

in modern economics, intellectual capital is described as an intangible asset which can be used as a source of sustainable competitive advantage. however, intellectual capital components have to interact in themselves to create value. the paper seeks to examine the impact of intellectual capital on firms’ market value and financial performance. the efficiency of the value added by corporate int...

In opposition to foundational economic principles, four studies show that people view profit as fundamentally socially harmful. Studies 1 and 2 find a strong negative correlation between profit and perceived social value across both real firms and entire industries. This relationship holds for both perceived profit and actual profit information from public data. Study 3 confirms that this effec...

Under the paradigm shift toward smart tourism, the exhibition industry is making efforts to introduce innovative technologies that can provide more diverse and valuable experiences to attendees. However, various new information technologies have failed in a market in practice due to the user’s resistance against it. Since innovative technology, such as booth recommender systems (BRS), is changi...