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NEWSLETTER of July 19, 2019

 

The following content has been added at finexpert:


Studies > Performance

Oliver Wyman

ZUKUNFT VON INSURTECH IN DEUTSCHLAND: DER INSURTECH-RADAR 2019

What trends and changes are observable in the InsurTech industry this year? Oliver Wyman examines this question in the current "InsurTech-Radar 2019" and sheds light on what developments have taken place since the last radar at the end of 2017, how the market potential and chances of success for start-ups are and what forecasts Oliver Wyman is making for the future of InsurTech. >more

Studies > Performance

Roland Berger

AI AND FINANCIAL SERVICES: HOW BANKS AND INSURERS CAN TACKLE THE BIG BUZZ

Artificial intelligence has become a very real part of life. Also, the financial services industry is no stranger to the technology. As in other industries, the possibilities in financial services are many and varied, but most companies are just getting started with a process that is set to turn the industry on its head. Many banks and insurance companies are busy testing use cases such as chatbots and AI-based fraud detection solutions. But now it is time to launch the next phase: financial service firms need to develop a clear path forward on how to successfully integrate AI into their business model. >more

Studies > Performance

Deloitte

DRIVING THE CHANGE – TECHNOLOGISCHE TRANSFORMATION IM CORPORATE TREASURY

In recent years, the technology-driven transformation of Corporate Treasury has gained rapid momentum due to the enormous development of products and innovations. With extensive functional enhancements to treasury management systems, complex analysis and forecasting options, extensive data visualization options and automation technologies, the treasurer is provided with a whole range of powerful new tools to meet the dynamic requirements of digitization and further develop the treasury. >more

Studies > Alternative Investments

Ernst & Young

PRIVATE EQUITY: DER TRANSAKTIONSMARKT IN DEUTSCHLAND H1 2019

Financial investors started slowly into the first half of 2019: Although they carried out just as many transactions as in the same period of the previous year - 112, the transaction value was only 7.3 billion euros. The figure for the first half of 2018 was 11 billion euros. >more


Research Papers > Corporate Finance

MANAGERIAL SHORT-TERMISM AND INVESTMENT: EVIDENCE FROM ACCELERATED OPTION VESTING

Tomislav Ladika, and Zacharias Sautner
2019
We show that executives cut investment when their incentives become more short-term. We examine a unique event in which hundreds of firms eliminated option vesting periods to avoid a drop in income under accounting rule FAS 123-R. This event allowed executives to exercise options earlier and thus profit from boosting short-term performance. Our identification exploits that FAS 123-R’s adoption was staggered almost randomly by firms’ fiscal year-ends. CEOs cut investment and reported higher short-term earnings after option acceleration, and they subsequently increased equity sales. >more

Research Papers > Corporate Finance

PEER FINANCIAL DISTRESS AND INDIVIDUAL LEVERAGE

Ankit Kalda
2019
Using health shocks to identify financial distress situations, I document that peer distress leads to a decline in individual leverage and debt on average. Individual leverage declines by 5.7% and remains deflated for at least five years following peer distress. This decline occurs as individuals borrow less on the intensive margin, pay higher fractions of their debt and save more while their income remains unchanged following peer distress. As a result, individuals are less likely to default during the period following peer distress. The heterogeneity in responses highlight the role of changes in beliefs and preferences as the underlying mechanism. >more