Search Results - "Robert C. Merton"

Robert C. Merton : the first financial engineer

Lo, Andrew W. - In: Annual review of financial economics 12 (2020), pp. 1-18

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012404615

Retirement security bonds : 50th anniversary speech by Nobel Laureate Robert C. Merton December 1, 2023 CISDOM, UMass Amherst

Merton, Robert C. - In: Journal of investment management : JOIM 22 (2024) 3, pp. 4-14

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015198692

Robert C. Merton and the science of finance

Bodie, Zvi - In: Annual review of financial economics 12 (2020), pp. 19-38

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012404616

An interview with Nobel laureate Robert C. Merton

Merton, Robert C. (interviewee); Kritzman, Mark (interviewer) - In: Financial analysts' journal : FAJ 74 (2018) 1, pp. 12-20

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10011879180

Interview with Nobel Prize Laureate Robert C. Merton

Merton, Robert C. - Nobel Prize Committee - 2004

Interview with Professor Robert C. Merton at the 1st Meeting of Laureates in Economic Sciences in Lindau, Germany …

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10004981493

Harry M. Markowitz, Merton H. Miller, William F. Sharpe, Robert C. Merton and Myron S. Scholes

Vane, Howard R. (contributor) - 2009

Harry M. Markowitz -- Merton H. Miller -- William F. Sharpe -- Robert C. Merton -- Myron S. Scholes …

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10003775421

Harry M. Markowitz, Merton H. Miller, William F. Sharpe, Robert C. Merton and Myron S. Scholes

Mulhearn, Chris (contributor); Vane, Howard R. (contributor) - 2009

Values', Journal of Financial and Quantitative Analysis, XIII (4), November, 701-18 -- Robert C. Merton (1969), 'Lifetime …-57 -- Robert C. Merton (1971), 'Optimum Consumption and Portfolio Rules in a Continuous-Time Model', Journal of Economic Theory, 3 … (4), December, 373-413 -- Robert C. Merton (1973a), 'Theory of Rational Option Pricing', Bell Journal of Economics and …

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10011852253

No-fault Default, Chapter 11 Bankruptcy, and Financial Institutions

Merton, Robert C.; Thakor, Richard T. - National Bureau of Economic Research - 2021

This paper analyzes the costs and benefits of a no-fault-default debt structure as an alternative to the typical bankruptcy process. We show that the deadweight costs of bankruptcy can be avoided or substantially reduced through no-fault-default debt, which permits a relatively seamless transfer...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012482559

Allocating Shareholder Capital to Pension Plans

Merton, Robert C. - 2023

This article discusses the corporate challenge of providing retirement income to employees while limiting the costs and risks of pension plans to the companies themselves by addressing five main questions: - What are the major issues and challenges surrounding pensions? Although the pension...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014265248

Trust, transparency, and complexity

Thakor, Richard T.; Merton, Robert C. - In: The review of financial studies 36 (2023) 8, pp. 3213-3256

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014320806

Sonderedition: Wirtschaftsnobelpreisträger : Milton Friedman, Robert C. Merton, Kenneth Arrow, James Buchanan, Lawrence R. Klein

2005

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10003220671

On the Role of Social Security as a Means for Efficient Risk-Bearing in an Economy Where Human Capital is Not Tradeable

Merton, Robert C. - 2022

An intertemporal general equilibrium model of an economy with overlapping generations and two factors of production, labor and capital, is used to analyze the economic inefficiencies caused by the non- tradeability of human capital -and to derive a constrained pareto-optimal sys tern of taxes...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013308632

Trust, Transparency, and Complexity

Thakor, Richard T.; Merton, Robert C. - 2022

This paper develops a theory that generates an equilibrium relationship between product complexity, transparency, and trust in firms. Complexity, transparency, and the evolution of trust are all endogenous, and equilibrium transparency is non-monotonic. The least-trusted firms choose the lowest...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014254035

No-Fault Default, Chapter 11 Bankruptcy, and Financial Institutions

Merton, Robert C.; Thakor, Richard T. - 2022

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013403249

No-fault default, chapter 11 bankruptcy, and financial institutions

Merton, Robert C.; Thakor, Richard T. - In: Journal of banking & finance 140 (2022), pp. 1-12

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013463098

Trust in lending

Thakor, Richard T.; Merton, Robert C. - 2018

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10011893087

Trust in lending

Thakor, Richard T.; Merton, Robert C. - 2018

We develop a theory of trust in lending, distinguishing between trust and reputation, and use it to analyze the competitive interactions between banks and non-bank lenders (fintech firms). Trust enables lenders to have assured access to financing, whereas a loss of investor trust makes this...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10011942332

Trust in Lending

Thakor, Richard T. - 2018

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012452943

Customers and investors : a framework for understanding the evolution of financial institutions

Merton, Robert C.; Thakor, Richard T. - 2018

Financial institutions are financed by both investors and customers. Investors expect an appropriate risk-adjusted return for providing financing and risk bearing. Customers, in contrast, provide financing in exchange for specific services, and want the service fulfillment to be free of the...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10011942281

A review of Merton's model of the firm's capital structure with its wide applications

Sundaresan, Suresh M. - In: Annual review of financial economics 5 (2013), pp. 21-41

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10010340460

In honor of the Nobel Laureates Robert C. Merton and Myron S. Scholes : a partial differential equation that changed the world

Jarrow, Robert A. - In: The journal of economic perspectives : EP ; a journal … 13 (1999) 4, pp. 229-248

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10001431055

Optimal Investment Strategies for University Endowment Funds

Merton, Robert C. - 2021

A common approach to the management of endowment is to treat it as if it were the only asset of the university. This approach leads to prescriptions for optimal investment and expenditure policies that are essentially the same across universities. Indeed, the resulting optimal portfolio...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013311883

On the Valuation of Performance Fees and Their Impact on Asset Managers’ Incentives

Dai, Wei; Merton, Robert C.; Rizova, Savina - 2021

This paper provides a robust and practical framework for assessing performance fees. The fee valuation uses standard option pricing models and therefore does not require any expected return or alpha estimate. These features make our framework easy to use, robust, and widely applicable to a...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013225263

Labor Supply Flexibility and Portfolio Choice in a Life-Cycle Model

Bodie, Zvi; Merton, Robert C.; Samuelson, William - 2021

This paper examines the effect of the labor-leisure choice on portfolio and consumption decisions over an individual's life cycle. The model incorporates the fact that individuals may have considerable flexibility in varying their work effort (including their choice of when to retire). Given...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013232015

Designing the Best Solution for Retirement

Merton, Robert C. - 2021

In March 2020, Robert Powell, Retirement Management Journal editor-in-chief; Zvi Bodie, PhD, president of Bodie Associates and the Norman and Adele Barron Professor Emeritus of Management at Boston University; and Stacy Schaus, founder and chief executive officer of Schaus Group LLC, spoke with...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013251307

No-fault Default, Chapter 11 Bankruptcy, and Financial Institutions

Merton, Robert C.; Thakor, Richard T. - 2021

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013249095

Universitätsendowments : eine Bestandsaufnahme der theoretischen und empirischen Forschung

Cejnek, Georg; Franz, Richard; Randl, Otto; Stoughton, … - In: Journal für Betriebswirtschaft : management review … 62 (2012) 3/4, pp. 225-260

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10009731602

On the valuation of performance fees and their impact on asset managers' incentives

Dai, Wei; Merton, Robert C.; Rizova, Savina - In: The journal of alternative investments : JAI 24 (2021) 1, pp. 10-25

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012613085

A look back and a way forward

Lo, Andrew W.; Merton, Robert C. - In: Annual review of financial economics 13 (2021), pp. v-viii

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012795261

Merton for dummies : a flexible way of modelling default risk

Byström, Hans N. E. - 2003

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10002250947

Präferenzfreie Bewertung derivativer Finanztitel : zur Nobelpreisverleihung für Wirtschaftswissenschaften an Myron Scholes und Robert C. Merton

Wenger, Ekkehard - In: Wirtschaftswissenschaftliches Studium : WiSt ; … 27 (1998) 1, pp. 29-32

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10001232269

1997 °ars ekonomipristagare : Robert C. Merton och Myron S. Scholes

Näslund, Bertil - In: Ekonomisk debatt 26 (1998) 2, pp. 117-122

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10001236766

Bibliography of Robert C. Merton's publications, 1966 - 1997

Merton, Robert C. (contributor) - In: The Scandinavian journal of economics 100 (1998) 2, pp. 447-451

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10001245488

Robert C. Merton y Myron S. Scholes: Nobel de economía 1997

Bachiller Cacho, Alfredo - In: Cuadernos aragoneses de economía 7 (1997) 2, pp. 527-537

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10001242970

SeLFIES : A-New(-ity) Look for Retirement

Muralidhar, Arun - 2020

Individual investors, policy-makers, and members of the financial services industry are struggling to figure out how best to help individuals prepare for a financially secure retirement; namely, allowing individuals to continue their pre-retirement standard-of-living post retirement. We propose...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012840237

SeLFIES : A New Pension Bond and Currency for Retirement

Merton, Robert C. - 2020

There is a looming retirement crisis, as individuals are increasingly being asked to take responsibility for their own retirement planning and a majority of these individuals are financially unsophisticated. They cannot perform basic compounding calculations and do not understand the impact of...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012840238

SeLFIES Can Help Brazil Create a SUPER Supplementary Pension

Muralidhar, Arun; Merton, Robert C.; Vitorino, Alexandre - 2020

Brazilian policy makers and researchers have discussed the introduction of a complementary pension system to complement the Regime Geral de Previdência Social (RGPS), specially for those that want a retirement income above the RGPS ceiling. This article first recommends that the complementary...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014032220

A six-component integrated approach to addressing the retirement funding challenge

Merton, Robert C.; Muralidhar, Arun S. - In: Journal of investment management : JOIM 18 (2020) 4, pp. 28-54

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012589386

Customers and Investors : A Framework for Understanding Financial Institutions

Merton, Robert C. - 2015

Financial institutions have both investors and customers. Investors, such as those who invest in stocks and bonds or private/public-sector guarantors of institutions, expect an appropriate risk-adjusted return in exchange for the financing and risk-bearing that they provide. Customers of a...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012457409

SeLFIES for Portugal - An Innovative Pan European Retirement Solution

Merton, Robert C. - 2019

With a rapidly aging population, Portugal faces some serious pension challenges including a Social Security system which is under pressure, and pension benefits gradually approaching levels that will require individuals to supplement Social Security with private savings. In addition, Portugal...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012890948

Pension Benefit Guarantees in the United States : A Functional Analysis

Bodie, Zvi - 2019

In this paper we use functional analysis to examine the pension benefit guarantee system in the United States. The functional perspective on financial policy making begins with the set offunctions required, and then looks for the optimal institutional structure to perform those functions. Our...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012894030

Klub der Vordenker

Domke, Britta; Hegele-Raih, Cornelia; Kuhn, Lothar - In: Harvard-Business-Manager : das Wissen der Besten 30 (2008) 4, pp. 26-31

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10003662907

Customers and investors : a framework for understanding the evolution of financial institutions

Merton, Robert C.; Thakor, Richard T. - In: Journal of financial intermediation 39 (2019), pp. 4-18

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012269701

SeLFIES for Portugal : an innovative pan European retirement solution

Merton, Robert C.; Muralidhar, Arun S.; Ferreira, Rui … - In: The future of pension plans in the EU internal market : …, (pp. 161-178). 2019

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012269837

Trust in Lending

Thakor, Richard T. - 2018

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012915235

Time for Retirement ‘SeLFIES’?

Merton, Robert C. - 2017

To address the looming retirement crisis, many governments are introducing new pension programmes tied to employment for uncovered workers (NEST in the UK and Secure Choice in some US states). These attempt to improve access to pensions, and continue a trend of transferring responsibility for...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012959515

On an Efficient Design of Reverse Mortgages : A Possible Solution for Aging Asian Populations

Merton, Robert C. - 2017

While aging population is a worldwide issue, it is more profound in Asia. Reverse mortgages are useful instrument to alleviate the continuous and steady consumption needs of retirees. The “puzzle” is why there has been rather modest uptake even in the US, UK, and Korea where it has been...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012943071

Customers and Investors : A Framework for Understanding Financial Institutions

Merton, Robert C. - 2016

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013004624

Q group panel discussion : looking to the future

Leibowitz, Martin L.; Lo, Andrew W.; Merton, Robert C.; … - In: Financial analysts' journal : FAJ 72 (2016) 4, pp. 17-25

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Asset management in volatile markets

Haiss, Peter R.; Sammer, Bernhard; Gartner, Martin; … - New Trends in Asset Management: Exploring the … - 2010

The 27th SUERF Colloquium in Munich in June 2008: New Trends in Asset Management: Exploring the Implications was already topical in the Summer of 2008. The subsequent dramatic events in the Autumn of 2008 made the presentations in Munich even more relevant to investors and bankers that want to...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10011705329