The required return on equity under a foundation model
... beta bias and use of the Black CAPM—that it is not clear whether the low beta bias reflects risk and, therefore, it is unclear if any adjustment should be made for the bias. c. Review and critically analyse the AER's selection, analysis, and interpretation of conditioning variables. d. Determine the ...
... beta bias and use of the Black CAPM—that it is not clear whether the low beta bias reflects risk and, therefore, it is unclear if any adjustment should be made for the bias. c. Review and critically analyse the AER's selection, analysis, and interpretation of conditioning variables. d. Determine the ...
Voluntary exchange offer to acquire all issued and outstanding
... For the definitions of terms used throughout this Offer Document, including the preceding pages, see Section 21 “Definitions and Glossary of Terms”. The Company has furnished the information in this Offer Document. The Company’s financial advisers, Carnegie ASA (“Carnegie”) and HSBC Bank plc (“HSBC ...
... For the definitions of terms used throughout this Offer Document, including the preceding pages, see Section 21 “Definitions and Glossary of Terms”. The Company has furnished the information in this Offer Document. The Company’s financial advisers, Carnegie ASA (“Carnegie”) and HSBC Bank plc (“HSBC ...
Analysts` Forecast Dispersion, Analysts` Forecast Bias and Stock
... I then study how forecast bias is associated with forecast dispersion. My goal is to decompose dispersion into a bias component and a true disagreement component. After removing the bias component, I then study how divergence of opinion affects stock returns by examining the relation between disagre ...
... I then study how forecast bias is associated with forecast dispersion. My goal is to decompose dispersion into a bias component and a true disagreement component. After removing the bias component, I then study how divergence of opinion affects stock returns by examining the relation between disagre ...
words
... Securityholders will receive all of the proceeds from this offering and will pay all underwriting discounts and selling commissions, if any, applicable to the sale of the securities. We will pay the expenses of registration of this offering. The Company has agreed to indemnify the Selling Securityho ...
... Securityholders will receive all of the proceeds from this offering and will pay all underwriting discounts and selling commissions, if any, applicable to the sale of the securities. We will pay the expenses of registration of this offering. The Company has agreed to indemnify the Selling Securityho ...
ANSWERS TO QUESTIONS
... 18. An impairment is deemed to have occurred if, in applying the recoverability test, the carrying amount of the asset exceeds the expected future net cash flows from the asset. In this case, the expected future net cash flows of $705,000 exceed the carrying amount of the equipment of $700,000 so th ...
... 18. An impairment is deemed to have occurred if, in applying the recoverability test, the carrying amount of the asset exceeds the expected future net cash flows from the asset. In this case, the expected future net cash flows of $705,000 exceed the carrying amount of the equipment of $700,000 so th ...
Nomad Foods Ltd (Form: POS AM, Received: 04/20/2016
... free writing prospectus prepared by or on our behalf. Neither we, nor the selling shareholders, have authorized any other person to provide you with different or additional information. Neither we, nor the selling shareholders, take responsibility for, nor can we provide assurance as to the reliabil ...
... free writing prospectus prepared by or on our behalf. Neither we, nor the selling shareholders, have authorized any other person to provide you with different or additional information. Neither we, nor the selling shareholders, take responsibility for, nor can we provide assurance as to the reliabil ...
Predicting Market Returns Using Aggregate Implied Cost of Capital
... to evaluate the out-of-sample performance), IRP delivers higher and more economically meaningful out-of-sample R2 than its competitors and provides positive utility gains of more than 4% a year to a mean-variance investor. Rapach, Strauss, and Zhou (2010) argue that it is important to combine indivi ...
... to evaluate the out-of-sample performance), IRP delivers higher and more economically meaningful out-of-sample R2 than its competitors and provides positive utility gains of more than 4% a year to a mean-variance investor. Rapach, Strauss, and Zhou (2010) argue that it is important to combine indivi ...
Prospectus - TransAlta
... moneys of the Corporation properly applicable to the payment of dividends, fixed cumulative preferential cash dividends for the initial period (the "Initial Fixed Rate Period") from and including the date of issue of the Series G Shares to but excluding September 30, 2019, at an annual rate of $1.32 ...
... moneys of the Corporation properly applicable to the payment of dividends, fixed cumulative preferential cash dividends for the initial period (the "Initial Fixed Rate Period") from and including the date of issue of the Series G Shares to but excluding September 30, 2019, at an annual rate of $1.32 ...
Limited Attention and the Uninformative Persuasion of Mutual Fund
... predictable improvements in HPRs that result from negative end-returns dropping from the HPR horizon. Future HPRs cannot be perfectly forecasted as they are influenced by the added new return (which cannot be predicted) and the dropped end-return which can be perfectly anticipated. However, as discu ...
... predictable improvements in HPRs that result from negative end-returns dropping from the HPR horizon. Future HPRs cannot be perfectly forecasted as they are influenced by the added new return (which cannot be predicted) and the dropped end-return which can be perfectly anticipated. However, as discu ...
simulating portfolios by using models of social networks
... collective behavior associated with non-linear dynamics, which can only be explanied with an interaction-based approach. In the first part of the simulation games (Chapter 5), I demonstrate how returns and risk affect portfolio selection in a very simple two-asset game. Games are simulated under two ...
... collective behavior associated with non-linear dynamics, which can only be explanied with an interaction-based approach. In the first part of the simulation games (Chapter 5), I demonstrate how returns and risk affect portfolio selection in a very simple two-asset game. Games are simulated under two ...
Ch18
... franchisor makes “substantial performance” of the services it is obligated to perform. Substantial performance occurs when the franchisor has no remaining obligation to refund any cash received or excuse any nonpayment of a note and has performed all the initial services required under the contract. ...
... franchisor makes “substantial performance” of the services it is obligated to perform. Substantial performance occurs when the franchisor has no remaining obligation to refund any cash received or excuse any nonpayment of a note and has performed all the initial services required under the contract. ...
Price: $25.00 per share to yield 4.75% per annum
... date of original issue, payable (other than the first dividend payment) in equal quarterly instalments of $0.2969 per share on the first day of March, June, September and December of each year commencing on March 1, 2013. Assuming an issue date of November 13, 2012, the first dividend will be payabl ...
... date of original issue, payable (other than the first dividend payment) in equal quarterly instalments of $0.2969 per share on the first day of March, June, September and December of each year commencing on March 1, 2013. Assuming an issue date of November 13, 2012, the first dividend will be payabl ...
Stock Prices and Earnings: A History of Research
... No other single event has been found to explain more of the cross-sectional variation in stock returns than the earnings announcement. Earnings announcements are the primary mechanism through which public companies provide periodic financial performance updates to investors. It is therefore not surp ...
... No other single event has been found to explain more of the cross-sectional variation in stock returns than the earnings announcement. Earnings announcements are the primary mechanism through which public companies provide periodic financial performance updates to investors. It is therefore not surp ...
ROE on MISO Transmission
... necessary to meet the requirements set forth in In Bluefield Waterworks & Improvement Co. v. Public Service Commission of West Virginia21 and Federal Power Commission v. Hope Natural Gas Company.22 ...
... necessary to meet the requirements set forth in In Bluefield Waterworks & Improvement Co. v. Public Service Commission of West Virginia21 and Federal Power Commission v. Hope Natural Gas Company.22 ...
The Valuation and Risk Management of a DB Underpin
... formula that includes such factors as years of service and salary. For example, a defined benefit pension might be calculated as 1.5% of average salary for the final 5 years of employment, for every year of service with an employer. The benefits in most traditional DB plans may be protected, within ...
... formula that includes such factors as years of service and salary. For example, a defined benefit pension might be calculated as 1.5% of average salary for the final 5 years of employment, for every year of service with an employer. The benefits in most traditional DB plans may be protected, within ...
Asset Prices and Unit Trusts
... which are statistically significant to give some indication of the performance of the managed fund industry as a whole. In fact, the mutual fund literature provides excellent examples of the application of recent statistical advances such as separating skill from luck when funds are ranked by perfor ...
... which are statistically significant to give some indication of the performance of the managed fund industry as a whole. In fact, the mutual fund literature provides excellent examples of the application of recent statistical advances such as separating skill from luck when funds are ranked by perfor ...
Assignment 1 is compulsory and due
... are all items of the consideration transferred at fair value e.g. any deferred payments should be ...
... are all items of the consideration transferred at fair value e.g. any deferred payments should be ...
Smart Beta - A referential guide for institutional investors
... hit investment capacity constraints.” “One needs to draw a distinction between a factor and a risk premium, or more precisely, a ‘return premium,’” he says. “For example, selecting or weighting component securities by book yield, dividend yield or earnings yield may all, to varying degrees, provide ...
... hit investment capacity constraints.” “One needs to draw a distinction between a factor and a risk premium, or more precisely, a ‘return premium,’” he says. “For example, selecting or weighting component securities by book yield, dividend yield or earnings yield may all, to varying degrees, provide ...
Risk Aversion and Clientele Effects
... Standard & Poor's Barra Growth and Value Indices; Russell Midcap Growth and Value Indices; Russell 1000 Growth and Value Indices; Russell 2000 Growth and Value Indices; and Russell 3000 Growth and Value Indices. First, we extract latent risk aversion coefficients from the prices of derivative securi ...
... Standard & Poor's Barra Growth and Value Indices; Russell Midcap Growth and Value Indices; Russell 1000 Growth and Value Indices; Russell 2000 Growth and Value Indices; and Russell 3000 Growth and Value Indices. First, we extract latent risk aversion coefficients from the prices of derivative securi ...
HERCULES TECHNOLOGY GROWTH CAPITAL INC
... We regularly engage in discussions with third parties with respect to various potential transactions. We may acquire an investment or a portfolio of investments or an entire company or sell a portion of our portfolio on an opportunistic basis. We, our subsidiaries or our affiliates may also agree to ...
... We regularly engage in discussions with third parties with respect to various potential transactions. We may acquire an investment or a portfolio of investments or an entire company or sell a portion of our portfolio on an opportunistic basis. We, our subsidiaries or our affiliates may also agree to ...
Earnings Seasonality and Stock Returns
... lower earnings before the seasonal quarter 12 months ago (typically 15, 18 and 21 months before portfolio formation), this does not generate a spread in returns. This suggests that the recency of low earnings is important in generating underreaction to seasonality. The seasonality effect is not pre ...
... lower earnings before the seasonal quarter 12 months ago (typically 15, 18 and 21 months before portfolio formation), this does not generate a spread in returns. This suggests that the recency of low earnings is important in generating underreaction to seasonality. The seasonality effect is not pre ...
Assessing profitability in competition policy analysis
... for which reliable data on cash flows and asset values is available over a sufficiently long time period. The methodology may be less suited for assessing future performance based on forecast data, or in cases where cost and revenue allocation or asset valuation are particularly complicated. ...
... for which reliable data on cash flows and asset values is available over a sufficiently long time period. The methodology may be less suited for assessing future performance based on forecast data, or in cases where cost and revenue allocation or asset valuation are particularly complicated. ...
Nordic High Yield Update
... Norwegian HY market and on spreads. We discuss the challenges in oil services below. There are some positives. Other non-Norwegian sectors such as industrials and consumer goods remain relatively less impacted. Moreover, in line with our argument that industries that benefit from the oil price decli ...
... Norwegian HY market and on spreads. We discuss the challenges in oil services below. There are some positives. Other non-Norwegian sectors such as industrials and consumer goods remain relatively less impacted. Moreover, in line with our argument that industries that benefit from the oil price decli ...