We focus on the coupling of two existing and calibrated single currency Libor models into a joint Libor model that allows for pricing of multiple currency based structured interest rate products. Our main contribution is twofold: On the one hand we provide a method for synthesizing two local currency based correlation structures into a correctly defined joint correlation structure that describe...

Weighted Rank Correlation indices are useful for measuring the agreement of two rankings when the top ranks are considered more important than the lower ones. This paper investigates, from a descriptive perspective, the behaviour of i) five existing indices that introduce suitable weights in the simplified formula of the Spearman’s ρ and ii) an additional five indices we derive using the same w...

Executive compensation has increased dramatically over the past 15 years, but so has forced CEO turnover. We argue that part of the development of CEO pay can be explained by the adverse consequences that forced turnover implies for a CEO. We find that for the CEOs of the largest US corporations, a one percentage point increase in exogenous turnover risk is associated with $40,000 to $90,000 mo...

A bit later   DSRs came into being, aiming at explaining morphosyntactic behavior of a word – structures uniting information about ,  ,  and  (Dowty 1979, Wierzbicka 1980). “Since verbs individuate and name events <...>, theories of predicate decomposition are often taken to be theories of the basic  .” (Levin, Rappaport Hovav 2...

[C]ausal statements are commonly made in some context, against a background which includes the assumption of some causal field. A causal statement will be the answer to a causal question, and the question ‘What caused this explosion?’ can be expanded into ‘What made the difference between those times, or those cases, within a certain range, in which no such explosion occurred, and this case in ...

Two distinct approaches have emerged to categorize entrepreneurial strategies. While some argue that planning is beneficial for entrepreneurs, a growing body of literature argues that nonpredictive strategies can also lead to successful outcomes. The effectuation framework gained attention and it is perhaps the most sophisticated theoretical framework to understand nonpredictive strategies. In ...