We show that financial-conglomerate-affiliated hedge funds (FCAHFs) have more stable funding and lower flow-performance sensitivity than other funds even though they are less likely to impose impediments on withdrawals. Arguably due to their privileged access to funding, during periods of financial turmoil, FCAHFs are able to take more risk and to purchase less liquid and more volatile stocks t...

One of the key goals of Wellmark Blue Cross and Blue Shield of Iowa is to reduce and sustain the percentage increase in the annual healthcare costs (trend) for their members to equal the rate of infl ation (measured by the Consumer Price Index – CPI). During the past decade, Wellmark, with its strategic partner Treo Solutions, has been working with physicians, hospitals, customers, and other st...

The financial industry relies greatly on information technology (IT) because of its work with immaterial goods. Nowadays, most information collected by a financial institution is usually stored in a central data warehouse system. This central financial data warehouse (FDWH) is permanently under construction. Requirements from all over the bank have to be met by FDWH projects in an ongoing proce...

The process of urban-rural integration has led to severe ecological environmental pollution in rural areas of China, particularly in the economically-developed areas. This is an urgent issue to be solved. We select Jiangsu Province as a case study. From the perspective of the population, economic scale, energy consumption and financial support, we perform an empirical study of rural non-point s...

A valuation principle is a mapping that assigns a number (value) to a random variable (payoff). This paper constructs a transformation on valuation principles by embedding them in a financial environment. Given an a priori valuation rule u, we define the associated a posteriori valuation rule h by an indifference argument: The u-value of optimally investing in the financial market alone should ...

8 The Journal of financial transformation As a result of domestic and external factors, capital flows to emerging market economies are highly volatile. All too often, these economies experience severe financial distress, which in some instances lead them to the country-equivalent of bankruptcy. Recently, the IMF and the U.S. Treasury have come up with plans to facilitate an orderly restructurin...