Averaging and deferred payment yield agreements

Article Abstract:

A valuation model for futures and forward contracts having terminal payouts linked to averages of yields is developed. The implied fair yields of such contracts can be determined by a suitable adjustment on the observed forward yields to maturity. The 30-day interest rate futures contract is used to illustrate the valuation procedure and results show that its fair implied yield is associated to the forward yield to maturity over the delivery month.

Research, Futures, Interest rate futures

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Determinants of financial performance: a meta-analysis

Article Abstract:

The determinants of financial performance were studied through a meta-analysis of 165 economics and industrial organization studies and 155 management studies. The results indicated that there was a positive relationship between industrial concentration and performance, growth and performance, market share and performance, capital investment intensity and performance, and advertising intensity and performance.

Analysis, Economics, Business literature, Economics literature, Financial research

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