BEIJING — An increase of $453 billion last year in China's foreign exchange reserves partly reflected currency valuation effects and was not solely the result of inflows of speculative funds, the Chinese currency regulator said Tuesday.
It then analyses the impact of cross-border flows of capital, valuation effects, and cross-listing decisions by corporate issuers before turning to a discussion of whether countries that dedicate more resources to regulatory reform behave differently in some areas of market activities.
We use a discrete choice model that allows the policy to affect how attributes are valued to decompose the policy's effects into a valuation effect and a product availability effect.
We provide an overview of the recent developments of the literature on the determinants of long-term capital flows, global imbalances, and valuation effects.
Thus a big external deficit does not necessarily imply a commensurate rise in net indebtedness to foreigners.Even so, although the size of gross portfolio flows allows America to run bigger imbalances and although valuation effects may make adjustment easier, these factors do not render adjustment unnecessary; nor do they eliminate the risk of a hard landing.
The fact that these valuation effects emerge from a regulation specifically designed to reduce the costs and risks of Too-Big-to-Fail demonstrates the inherently paradoxical nature of the new regulation.
After controlling for pertinent explanatory factors such as competitive strategy posture, industry concentration, geographic spread of operation, product-type, and information technology infrastructure of firms, I find that variable cost and production efficiencies remain significant determinants of the valuation effects of global business alliances.
Besides Juliet's null hypothesis of zero valuation effects, two streams of previous research suggest that the act of naming can produce significantly positive or negative valuation effects.
Perhaps the concern is about valuation effects on German net foreign wealth.
Therefore, when the euro depreciates, there are positive valuation effects in the German net foreign assets position.
