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| | Option - Wikipedia, the free encyclopedia |
 | | However, employee stock options use is being curbed thanks in part to a decision by the Financial Accounting Standards Board (FASB) requiring that stock option grants are recorded on the income statement as an expense. | | | Most often the term "option" refers to a type of derivative which gives the holder of the option the right but not the obligation to purchase or sell a security within a predefined time span in the future, for a predetermined amount. | | | Employee stock options are also widely used as a compensation vehicle for employees and, in particular, senior executives of publicy traded corporations. |
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http://en.wikipedia.org/wiki/Option
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| | Asian option |
| | An Asian option is similar to a standard option except that the strike price is taken to be the arithmetic average of the price of the underlying asset during the life of the option. |
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http://www.in-the-money.com/glossary/Asian_op.htm
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| | Option style - Wikipedia, the free encyclopedia |
| | A deep ITM currency option (FX option) where the strike currency has a lower interest rate than the currency to be received will often be exercised early because the time value sacrificed is less valuable than the expected depreciation of the received currency against the strike. | | | The value of a cross option will be higher than a similar vanilla option since the volatility of the strike against the underlying asset contains both the asset's volatility and the exchange rate's. | | | In finance, the style or family of an option is a general term denoting the class into which the option falls, usually defined by the dates on which the option may be exercised. |
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http://www.wikipedia.org/wiki/Option_style
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| | Glossary |
| | For example, a delta of.5 for an option on an equity security would suggest that the price of the option would increase by.50 for every 1.00 that the price of the equity security increases. | | | A common example of this type of option is an employee stock option where the option holder must possess the option for a certain period (the vesting period) before the option can be exercised. | | | Bermuda Option - A Bermudan option is an option where early exercise is restricted to certain dates during the life of the option. |
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http://www.fintools.com/doc/options/optionsGlossary.html
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| | Asian Option |
| | Asian options are also attractive because they tend to be less expensivesell at lower premiumsthan comparable vanilla puts or calls. | | | ) is a cash-settled option whose payoff is based on the difference between a the average value of the underlier during the life of the option and a fixed strike. | | | Asian options are also popular with corporations, such as exporters, who have ongoing currency exposures. |
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http://www.riskglossary.com/articles/asian_option.htm
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| | Asian financial crisis - Wikipedia, the free encyclopedia |
| | The Asian crisis contributed to the Russian and Brazilian crises of 1998, because after the Asian crisis banks were reluctant to lend to emerging countries. | | | Asian countries usually run a trade deficit with Japan because the latter's economy was more than twice the size of the rest of Asia together, and seven times China's. | | | The crisis led to a drop in consumer and spending confidence (see October 27, 1997 mini-crash). |
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http://en.wikipedia.org/wiki/Asian_financial_crisis
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| | RiskNews - January 2005 |
| | Option valuation inputs include the style of option, current commodity forward price, volatility estimates for forward prices, the strike price, interest rates for applicable currencies, applicable exchange rates, and the number of iterations to be used in valuing American options. | | | An Asian spread option is an option where the underlying asset is the average differential of two assets during the same averaging period (where the average fixing dates of the two assets are identical). | | | The European option is characterized by the inability to exercise the instrument prior to maturity. |
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http://www.riskadvisory.com/risknews/jan05/news.htm
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| | Asian Option, Definition |
| | Asian Option: An exotic option whose payoff depends on the average price of the underlying asset during some portion of the life of the option. |
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http://www.traderslog.com/Asian-Option.htm
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| | Beyond The Asian Financial Crisis:: Special Reports: Publications: U.S. Institute of Peace |
| | The unique aspect of the Asian financial crisis is that unlike past crises (such as Latin America in the 1980s) most of the debt is corporate, as opposed to state-held or sovereign debt, and the costs of reforming the structure of government-business relationships to ensure transparency are larger than in other crises. | | | Asian capital provides the underpinnings for the U.S. Treasury bills that have financed our budget deficits. | | | The Asian financial crisis marks the start of a major post-Cold War adjustment to changes in the global economic system, an adjustment that is potentially as significant as the Bretton Woods agreements that have shaped global currency regulation for the past half-century. |
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http://www.usip.org/oc/sr/asiafinancial.html
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| | Asian Century - Wikipedia, the free encyclopedia |
| | The phrase 'Asian century' arose in the mid to late 1980s, and is attributed to a 1988 meeting with Chinese senior leader Deng Xiao Ping and Indian Prime Minister Rajiv Gandhi [1]. | | | The Asian Century is a term used to describe the belief that, if certain demographic and economic trends persist, the 21st century will be dominated by Asian politics and culture, similarly to how the 20th century is sometimes called the American Century. | | | An Asian regional bloc may be further developed in 21st century around ASEAN and other bodies on the basis of free trade agreements [12]. |
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http://en.wikipedia.org/wiki/Asian_century
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| | East Asian Tigers - encyclopedia article about East Asian Tigers. |
| | East Asian Tigers all practiced aggressive land reform and made large investments in public health and elementary education. | | | The current criticism of the East Asian Tigers is that these economies focus exclusively on export-demand, at the cost of import-demand. | | | Furthermore, three of the Tigers was an artificial polity severed from larger neighbors—Communist China in the case of Taiwan and Hong Kong, Malaysia in the case of Singapore. |
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http://encyclopedia.thefreedictionary.com/East%20Asian%20Tigers
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| | Global Derivatives Asian Options |
| | Asian options are options in which the underlying variable is the average price over a period of time. | | | A further breakdown of these options conclude that Asians are either based on the average price of the underlying asset, or alternatively, there are the average strike type. | | | Because of this fact, Asian options have a lower volatility and hence rendering them cheaper relative to their European counterparts. |
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http://www.global-derivatives.com/options/asian-options.php
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| | Bermudan and American Style Basket Options |
| | For an Asian option with equally spaced exercise time points it is the total number of exercise time periods. | | | The value of a basket is treated, without any currency translation, as the value in units of a certain currency, which may be different from the currencies in which the assets are priced. | | | For an American style option it is the total number of exercise time periods to be used to approximate an option value. |
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http://www.financialcad.com/support/developerFunc/mathref/Basket_am.htm
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| | The Social Impacts of Asian Financial Crisis |
| | The role of financial liberalization and globalization in the eruption of the crisis is closely examined. | | | In particular, the impacts of the crisis on unemployment, real wage, poverty, and income inequality are analyzed using a cross-country data set, which consists of all the countries that have received financial assistance from the IMF over the period from 1973 to 1994. | | | In order to assess the economic and social impacts of the crisis and predict its future development, it is imperative to understand the IMF conditionality attached to its financial support for the Asian countries. |
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http://hdr.undp.org/docs/publications/ocational_papers/oc33a.htm
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| | Asian American - Wikipedia, the free encyclopedia |
| | In general Asian Americans hold very higher percentages in professional sector compared to its population size and earn higher wages as because of it, especially in the technology and business sectors compared to other groups. | | | Asian American jazz is a musical movement in the United States begun in the 20th century by Asian American jazz musicians. | | | Asian Americans are labeled as model minorities because they have not been as much of a "threat" to the U.S. political establishment as blacks, due to a smaller population and less political advocacy. |
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http://en.wikipedia.org/wiki/Asian_Americans
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| | New York State Comptroller-The East Asian Economic Crisis |
| | China's 1994 currency devaluation undercut the export competitiveness of the crisis countries, particularly Thailand and Indonesia, and was one of the contributing causes of the Asian crisis. | | | The crisis that has engulfed several East Asian countries, whose dynamic and rapidly growing economies had long been the envy of many less developed nations, is a forceful reminder that the increasingly global economic and financial system brings with it the potential for sudden disturbances that can reverberate rapidly around the world. | | | He argues that the high debt-equity ratios experienced in Asian economies are an outgrowth of, and an outlet for, the high levels of household savings and provide a powerful lever for economic growth. |
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http://www.osc.state.ny.us/reports/nyc/economic/tm199/tm199.htm
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| | Aging in the Asian "tigers" : challenges for fiscal policy |
| | While there is much that is innovative, the Tigers are also grappling with the insufficiency of these private sector initiatives in correcting for market failure, suggesting the need for complementary public sector policies to ensure competitive markets and reflect distributional concerns. | | | Private sector financing instruments, often mandatory, are no longer captured as fiscal instruments, thus complicating the analysis of their allocative and distributional implications. | | | Yet for all the Tigers, factors such as changing illness patterns, modernization of the medical sector, upgrading of the labor force, and income distributional concerns will combine with demography to intensify budgetary pressures. |
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http://www.eldis.org/static/DOC4711.htm
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| | Asian crisis breaches Australian "firewall" |
| | The spreading impact of the Asian financial crisis and the emergence of global deflation are clearly visible in the rapid slide of the Australian dollar in world currency markets. | | | The Asian collapse has had a major impact on prices because these countries were important consumers during the boom. | | | Asian developing countries accounted for two-thirds of the increase in world petroleum consumption between 1992 and 1996 as their share of world demand rose from 12 percent to 15 percent. |
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http://www.wsws.org/news/1998/jun1998/adoll-j9.shtml
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| | FTS Forum |
| | The top number 0 is the option value and the bottom number 5 is the stock price at this node. | | | This option may be attractive to firms that wish to hedge a stream of transactions over time. | | | Now, its value depends upon the path followed by the underlying asset, and thus it is a path-dependent option. |
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http://www.ftsnet.com/public/ftsmodhtm/ftsExotic/page1.htm
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| | Economic Issues 1 -- Growth in East Asia |
| | Asian growth, like that of the Soviet Union in its high-growth era, seems to be driven by extraordinary growth in inputs like labor and capital rather than by gains in efficiency. | | | First, economic growth in the Four Tigers is hardly miraculous: it is just the expected outcome of a massive accumulation of labor and capital. | | | Not only were the investment rates in these economies low in absolute values, but they were very modest even when compared with rates in other countries with a comparable level of income. |
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http://www.imf.org/external/pubs/ft/issues1/index.htm
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| | DISINTER.html |
| | Indeed, to a first approximation currencies and exchange rates may have had little to do with it: the Asian story is really about a bubble in and subsequent collapse of asset values in general, with the currency crises more a symptom than a cause of this underlying real (in both senses of the word) malady. | | | What all of this suggests is that the Asian crisis is best seen not as a problem brought on by fiscal deficits, as in "first-generation" models, nor as one brought on by macroeconomic temptation, as in "second-generation" models, but as one brought on by financial excess and then financial collapse. | | | On the eve of crisis all of the governments were more or less in fiscal balance; nor were they engaged in irresponsible credit creation or runaway monetary expansion. |
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http://web.mit.edu/krugman/www/DISINTER.html
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| | Asian Financial Crisis |
| | Many Asians fear that these purchases will lead to a loss of their national sovereignty and a surrender of key economic assets to global capital. | | | In Washington, the Asian crisis and the Clinton administration’s request for $18 billion in additional funds for the IMF have sparked a lively political debate about the IMF and future U.S. economic policy. | | | The “Asian crisis,” as these events have been dubbed by the U.S. press, is having a dramatic impact on workers in Asia, and its ripple effects are being felt throughout North America. |
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http://www.fpif.org/briefs/vol3/v3n8fin_body.html
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| | CRS Report: THE 1997-98 ASIAN FINANCIAL CRISIS |
| | For example, prior to the financial crisis in Thailand, even though the IMF might have warned the country that it was headed for trouble, it was difficult for the Thai leaders to muster the political support to restructure the 58 financial institutions that eventually became insolvent. | | | The rapidity with which the Asian economies have grown and liberalized their financial markets has meant that the development of the financial systems in some economies has not kept pace with development of the financial markets. | | | The fourth reason that the Asian financial crisis is of interest to the United States is that the turmoil affects U.S. imports and exports as well as capital flows and the value of the U.S. dollar. |
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http://www.fas.org/man/crs/crs-asia2.htm
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| | China and the Asian Financial Crisis |
| | The Asian financial crisis vividly demonstrated that systemic problems in the banking and financial sector are accidents just waiting to happen, or more appropriately, waiting to "explode" without warning and quickly engulfing the economy as a whole. | | | An important lesson from the Mexican peso crisis and the Asian financial crisis is that a sound banking sector is the single most essential element of a healthy financial system. | | | First, unlike the free-wheeling Southeast Asian financial markets, the PBOC required those who wanted to buy or sell foreign exchange or foreign currency denominated financial assets to enter the exchange market which operated through designated banks. |
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http://www.fas.harvard.edu/~asiactr/haq/200001/0001a006.htm
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| | ArgMax Economics Weblog: The Asian Currency Crisis |
| | The poor investments are seen to be largely a consequence of financial intermediaries which had an (implicit) government guarantee on their liabilities and the resulting moral hazard problem. | | | How the financial crisis could affect you is a series of BBC reports on how the crisis will effect the world's economies. | | | The Asia Crisis Homepage by Professor Roubini at the Stern School of Management contains many more links on the Asian crisis as well as issues related to currency crashes in general. |
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http://www.argmax.com/mt_blog/archive/000231.php
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| | Far From A Cure: The Tiger Trade Revisited |
| | The international Tiger trade now operates almost exclusively through smuggling, by means of what has been referred to as "an army of ants" - large numbers of individuals smuggling small volumes of goods through a variety of channels. | | | Higher retail prices were reported for these two countries in the late 1990s, possibly reflecting the increased risks of selling Tiger bone at the retail level. | | | Wholesale prices reported for raw Tiger bone on the black market in China and South Korea were lower in the late 1990s, suggesting a drop in demand from retail outlets. |
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http://www.traffic.org/tigers/executivesummary.html
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| | Recovery from the Asian Crisis and the Role of the IMF -- An IMF Issues Brief |
| | The experience of the Asian crisis and the results of the policy strategy stimulated fresh thinking on the international financial system as well as on the appropriate policy response to financial crises. | | | While the unfinished structural reform agenda in all Asian crisis countries remains large, the efforts of governments to address these difficult issues have contributed to the strong recovery. | | | The rapid spread of the Asian crisis in late 1997-bringing a larger-than-expected depreciation of the baht, a sharp economic downturn and adverse regional economic developments--warranted revisions to the Thai program. |
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http://www.imf.org/external/np/exr/ib/2000/062300.htm
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| | RetailWire Print Pages |
| | Asian Americans rank higher than, and in some cases exceed, that of the general market in such key attributes as education attainment, per capita household income, homeownership, net worth, and professional occupation. | | | Apart from this, Asians are also pretty conservative in spending and try to avoid credit purchases wherever possible. | | | The Asian community is price sensitive largely due to the fact that their currency is weaker than the Dollar. |
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http://www.retailwire.com/Print/PrintDocument.cfm?DOC_ID=10125
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| | Teaching.htm |
| | By using an average to attain the underlying asset price or rate, Asian options are considered path-dependent; each price observed throughout the life of the option is taken into consideration when calculating the final price. | | | Aside from the path-dependent characteristic, Asian options are less susceptible to possible spot manipulation at settlement, and their payoffs are generally less volatile than vanilla options. | | | Together with the original cost of the Asian Call Option ($4,153), the total cost of the hedge transaction is $4,733. |
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http://www.trinity.edu/rjensen/acct5341/1998sp/lamb/Teaching.htm
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| | Recovery of East Asian Economies: Graziadio Business Report |
| | The credit crunch will hamper their attempts to export themselves out of recession, but the key issue is whether there will be a slowdown in the US economy and, if so, whether the economies of Japan and Europe can sustain enough growth to compensate. | | | Pressures on their currencies grew because their underlying economies were not growing in tandem with the dollar's rise. | | | The currency crisis spread rapidly throughout the region and beyond and finally grew to include much of the emerging market arena. |
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http://gbr.pepperdine.edu/001/tigers.html
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