We use text-based analysis of 10-K product descriptions to examine whether firms exploit product market synergies through asset complementarities in mergers and acquisitions. Transactions are more likely between firms that use similar product market language. Transaction stock returns, ex post cash flows, and growth in product descriptions all increase for transactions with similar product mark...

We review a few of the relavitely recent developments in cone programming that seem to have important applications in financial planning. In particular, we go over the semidefinite programming representation of a polynomial inequality as given by Nesterov. We mention some relevant references which show the power of cone programming in portfolio optimization. Then we turn to the recent work of L...

: Collateralized debt obligatons (CDOs) constitute an important subclass of asset backed securities. The evaluation of CDOs relies on mathematical modeling and on simulation as well as analytic and semi-analytic approaches, depending on the underlying asset pool and the cash flow structure of the transaction. This paper is an introductory survey on CDO modeling. It starts with a ‘mini course’ o...

Convexity arises quite naturally in financial risk management. In risk preferences concerning random cash-flows, convexity corresponds to the fundamental diversification principle. Convexity is a basic property also of budget constraints both in classical linear models as well as in more realistic models with transaction costs and constraints. Moreover, modern securities markets are based on tr...

Automated teller machine is very popular and most efficient ways for transaction of money. It perform financial transactions mostly cash withdrawal. It reduces the work load of banks as it is fully automated. Currently, Personal Identification Number(PIN) is used for security in ATMs and authentication is provided to the Users by entering the personal identification number (PIN).These PIN numbe...

This paper proposes a methodology for simultaneously estimating the term structure of interest rates and computing its arbitrage bounds. It uni es existing estimation procedures that apply smoothing and linear programming methods. The methodology adjusts for tax e ects and (possibly asymmetric) transaction costs. The paper reviews and extends the arbitrage theory of bond markets which is based ...

The general approach for the pricing of rainbow (or colored) options with fixed transaction costs is developed from the game theoretic point of view. The evolution of the underlying common stocks is considered in discrete time. The main result consists in the explicit calculation of the hedge price for a variety of the rainbow options including option delivering the best of J risky assets and c...

As the chase for great assets in biopharma gets tighter, the decision to proceed with a merger, acquisition or strategic transaction usually comes down to price. It’s also likely that both parties to the deal will rely on the standard discounted cash ow (DCF) methodology as the basic criteria to set the value of the asset, reinforced by estimates of future sales growth and market share. Yet whi...

The Sanjaya shop is a that sells various kinds of machines such as pumps, diesel and many more. Sales their PT Andalan Sejahtera Pekanbaru one the companies engaged in sale Spare Parts for Heavy Equipment, Machinery, Vehicles so on. In addition to cash sales, credit sales are also applied. Transaction processing carried out almost every day. managing transaction data, especially transactions, i...

This paper provides new perspectives on USA landlord–tenant contracting, where technical change is creating scale economies in farming and farm enlargements, and results that are important to the sustainability of land use and environmental quality. We develop a conceptual model of landlord–tenant contracting that emphasizes minimizing transactions costs and setting incentives for effort when t...