Suchergebnisse

Now a day's many Investment companies, Government offering variety investment opportunities to the investors. The choice of investment avenues and criteria of investment are affected not only by financial factors but also by socio-psychological factors. Asset allocation is simply the process of investing in a verity of avenues – perhaps debt, equity, real estate and even non-financial assets like precious metals. Present paper analyzes investment pattern and criteria adopted by salaried people while investing their money. So it is very important to know investment behavior to take necessary actions to manage risk, Real returns, taxes, asset allocation approach, choosing right investment avenues. The research paper will help in knowing the factors affecting investment decision among salaried people and also help in improving their portfolio.

A sovereign's inability to commit to a course of action regarding future borrowing and default behavior makes long-term debt costly (the problem of debt dilution). One mechanism to mitigate this problem is the inclusion of a seniority clause in debt contracts. In the event of default, creditors are to be paid off in the order in which they lent (the "absolute priority" or "first-in-time" rule). In this paper, we propose a modification of the absolute priority rule suited to sovereign debts contracts and analyze its positive and normative implications within a quantitatively realistic model of sovereign debt and default. (JEL E32, E44, F34, G15, H63, O16, O19)

Technological progress is crucial for economic growth and enhancement of standard of living in any economy. But firms often have insufficient incentive for R&D, because in spite of patent protection, the benefits of R&D are not always limited to the firms that initially conduct the R&D activities. Consequently, governments around the world often undertake industrial policies to promote collaborative R&D efforts between firms in order to increase R&D. This paper examines the implications of cooperative R&D agreements for the societal well being. The R&D and price decisions are analyzed using a Bertrand Duopoly Model in presence of product differentiation in a two-stage game. It is shown that under cooperative R&D agreements R&D and output levels are larger and prices are lower than under non-cooperation. For complementary and independent goods, these results are valid for any degree of R&D spillover and for substitute goods they may hold even for sufficiently small R&D spillover. These results are more general than D'Aspremont and Jacquemin (1988) who have shown that cooperative R&D levels exceed those under non-cooperation only for large R&D spillover. As for the level of social welfare, this paper finds the cooperative as well as the non-cooperative R&D output and price levels to be socially inefficient. However, cooperative R&D agreements tend to dominate non-cooperative R&D ventures in terms of social welfare. This result also holds for any degree of R&D spillover for complementary and independent goods and even for sufficiently small spillover in the case of substitute goods.

We advance quantitative-theoretic models of sovereign debt by proving the existence of a downward sloping equilibrium price function for long-term debt and implementing a novel method to accurately compute it. We show that incorporating long-term debt allows the model to match Argentina's average external debt-to-output ratio, average spread on external debt, the standard deviation of spreads, and simultaneously improve upon the model's ability to account for Argentina's other cyclical facts. We also investigated the welfare properties of maturity length and showed that if the possibility of self-fulfilling rollover crises is taken into account, long-term debt is superior to short-term debt. (JEL E23, E32, F34, O11, O19)