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Fixed Smoothing Asymptotic Theory in Over-identified Econometric Models in the Presence of.pdf
- CALIFORNIA,SAN DIEGOFixed Smoothing Asymptotic Theory Over-identifiedEconometricModels ClusteredDepen
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Some Contributions to Smoothing Spline Density Estimation(对平滑样条线密度估计的一些贡献).pdf
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Dividend Smoothing, Agency Costs, and Information Asymmetry: Lessons from the Dividend Policies of Private Firms.pdf
- We compare the dividend policies of publicly- and privately-held firms in order to examine Lintner s (1956) model of dividends, as wells as more recent agency and information-based theories. Our findings suggest that the scrutiny of public capital markets, in conjunction with traditional financing frictions, induce public firms to smooth dividends over time through a policy of gradual increases in dividends, infrequent decreases in dividends, and relative insensitivity of dividends to transitory earnings shocks. Private firms, on the other hand, follow relatively erratic dividend policies that are more sensitive to transitory earnings shocks - both positive and negative. For some private firms, in which sole or family ownership make information and agency concerns largely irrelevant, we find that dividend policy behaves as if a residual financing decision, much like Modigliani and Miller s irrelevance theorem predicts. We also show that the protection of governance mechanisms afforded to shar
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Propagation and smoothing of shocks in alternative social security systems(在替代性社会保障体系中传播和缓解冲击).pdf
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exponential smoothing for forecasting and bayesian validation of computer models.pdf
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smoothing the information seeking path removing representational obstacles in the middle-school digital library.pdf
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【生物课件】A Study of Smoothing Methods for Language Models Applied to ....ppt
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Income Smoothing over the Business Cycle: Changes in Banks' Coordinated Management of Provisions for Loan Losses and Loan Charge-offs from the Pre-1990 Bust to the 1990s Boom.pdf
- We provide evidence that banks smoothed their income by managing provisions for loan losses and loan charge-offs in a coordinated fashion that varied from the pre-1990 bust to the 1990s boom and across homogeneous and heterogeneous loan types. In particular, during the 1990s boom, we predict and find that banks smoothed their income down by accelerating provisions for loan losses, and that they made this less apparent by also accelerating loan charge- offs, leading to high recovery rates. Banks sustained this income smoothing throughout the extended 1990s boom by recording more new loan charge-offs when they recovered more past charge-offs. The documented income smoothing is stronger for more profitable banks holding more homogeneous loans for which charge-offs are determined using number-of-days-past-due rules. We also predict and find that the valuation implications of banks provisions for loan losses and loan charge-offs changed from the pre-1990 bust to the 1990s boom in a way that reflec
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Introduction to financial time series analysis-Filtering and smoothing techniques.pdf
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Loss Reserve Errors, Income Smoothing ... - ....pdf
- Loss Reserve Errors, Income Smoothing ... - …
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向豆丁求助：有没有smoothing?
