Income as the Source of Long-Term Returns
... reluctance to consider a true long-term horizon. References to long-term investment performance often tend to cite 3- or 5-year asset class returns. We challenge this definition of a long-term horizon for two reasons. First, individuals and institutions may be investing for retirement purposes or wi ...
... reluctance to consider a true long-term horizon. References to long-term investment performance often tend to cite 3- or 5-year asset class returns. We challenge this definition of a long-term horizon for two reasons. First, individuals and institutions may be investing for retirement purposes or wi ...
Q1 07 Earnings PR - Final
... regulations in the United States requiring United States citizens to obtain passports for travel to additional foreign destinations, weather, and other factors described in further detail in Royal Caribbean Cruises Ltd.’s filings with the Securities and Exchange Commission. The above examples are no ...
... regulations in the United States requiring United States citizens to obtain passports for travel to additional foreign destinations, weather, and other factors described in further detail in Royal Caribbean Cruises Ltd.’s filings with the Securities and Exchange Commission. The above examples are no ...
What is an Emerging Market? by Ashoka Mody
... Aizenman and Pinto (2004). The volatility arises from many sources, including natural disasters, external price shocks, and domestic policy instability. The key issue in assessing emerging market volatility is whether it results from uncontrollable factors or is the consequence of the policy framewo ...
... Aizenman and Pinto (2004). The volatility arises from many sources, including natural disasters, external price shocks, and domestic policy instability. The key issue in assessing emerging market volatility is whether it results from uncontrollable factors or is the consequence of the policy framewo ...
AUDIT INSIGHTS MANUfAcTUrING BUSINESS WITH coNfIdENcE icaew.com/auditinsights
... know what the extras are, split between those that the company can, and cannot, subsequently invoice. In some small to medium-sized enterprises (SMEs), the tracking or recording of costs is often not particularly sophisticated possibly caused by old IT systems which have been expanded by bolting on ...
... know what the extras are, split between those that the company can, and cannot, subsequently invoice. In some small to medium-sized enterprises (SMEs), the tracking or recording of costs is often not particularly sophisticated possibly caused by old IT systems which have been expanded by bolting on ...
Does wealth make us rich anymore?
... A thorough consideration of what wealth means is critical in the post-financial crisis environment. High government debt and weak economic growth potentially make it harder to service debt burdens or personal goals such as retirement. At the same time, new technology is changing the way the economy ...
... A thorough consideration of what wealth means is critical in the post-financial crisis environment. High government debt and weak economic growth potentially make it harder to service debt burdens or personal goals such as retirement. At the same time, new technology is changing the way the economy ...
chapter 32 institutional investors
... announcements. Also discussed are the restrictions on institutional investors imposed by the behavior of capital flows from outside investors and the incentives that institutions have to exacerbate, rather than correct, mispricings in asset markets. ...
... announcements. Also discussed are the restrictions on institutional investors imposed by the behavior of capital flows from outside investors and the incentives that institutions have to exacerbate, rather than correct, mispricings in asset markets. ...
Download (pdf)
... during the business cycle. Indeed, our results confirm that institutional quality is important but has no asymmetric effect over the business cycle. The issue of firm efficiency received a lot of attention at the beginning of the economic transition, especially regarding the importance of privatization ( ...
... during the business cycle. Indeed, our results confirm that institutional quality is important but has no asymmetric effect over the business cycle. The issue of firm efficiency received a lot of attention at the beginning of the economic transition, especially regarding the importance of privatization ( ...
catalytic first-loss capital - Global Impact Investing Network
... It identifies the party, i.e., the Provider, that will bear first losses. The amount of loss covered is typically set and agreed upon upfront. It is catalytic. By improving the Recipient’s risk-return profile, CFLC catalyzes the participation of investors that otherwise would not have particip ...
... It identifies the party, i.e., the Provider, that will bear first losses. The amount of loss covered is typically set and agreed upon upfront. It is catalytic. By improving the Recipient’s risk-return profile, CFLC catalyzes the participation of investors that otherwise would not have particip ...
Delay in the Expansion from 2.5G to 3G Wireless Networks
... The Accounting Scandal • Enron was all about complex partnerships and accounting for special purpose entities. But what WorldCom did wrong is something fundamental: The firm had taken line costs and wrongly booked them as capital expenditures • WorldCom’s misrepresentation of these expenses led to ...
... The Accounting Scandal • Enron was all about complex partnerships and accounting for special purpose entities. But what WorldCom did wrong is something fundamental: The firm had taken line costs and wrongly booked them as capital expenditures • WorldCom’s misrepresentation of these expenses led to ...
U3.3 Working Capital
... The working capital cycle refers to the interval between cash paid by a business for the costs of production and receiving the cash from customers. For example, if the customers pay by credit then payment is not received until a later date, although costs are incurred for the transaction. Due to its ...
... The working capital cycle refers to the interval between cash paid by a business for the costs of production and receiving the cash from customers. For example, if the customers pay by credit then payment is not received until a later date, although costs are incurred for the transaction. Due to its ...
Economy of Iceland
... Economy of Iceland has been published by the Central Bank of Iceland since 1987. It is mainly intended for an international readership. This includes international institutions that deal with Icelandic economic matters on a regular basis, rating agencies, financial institutions, foreign investors, em ...
... Economy of Iceland has been published by the Central Bank of Iceland since 1987. It is mainly intended for an international readership. This includes international institutions that deal with Icelandic economic matters on a regular basis, rating agencies, financial institutions, foreign investors, em ...
Aareal Bank Group – Interim Report Q1/2015
... Aareal Bank Group is ideally placed to deal with a rapidly-changing market and competitive environment. This was not least evidenced by the acquisition of Westdeutsche Immobilienbank (WestImmo), Aareal Bank’s second major acquisition within just over twelve months – a purchase which we are financin ...
... Aareal Bank Group is ideally placed to deal with a rapidly-changing market and competitive environment. This was not least evidenced by the acquisition of Westdeutsche Immobilienbank (WestImmo), Aareal Bank’s second major acquisition within just over twelve months – a purchase which we are financin ...
AMP Capital - Productivity Commission
... Thank you for the opportunity to comment on your draft report. Rises in transmission and distribution charges are a major contributor to rapid increases in Australian retail electricity tariffs1. Under the current system of regulation, transmission and distribution utilities are able to recover a re ...
... Thank you for the opportunity to comment on your draft report. Rises in transmission and distribution charges are a major contributor to rapid increases in Australian retail electricity tariffs1. Under the current system of regulation, transmission and distribution utilities are able to recover a re ...
Consultations
... Independent study carried out by consultants is going to be commissioned by the EC; EC is intended to come forward with a follow-up report containing recommendations by spring 2006. Deadline for responses was set to 14 October 2005. ...
... Independent study carried out by consultants is going to be commissioned by the EC; EC is intended to come forward with a follow-up report containing recommendations by spring 2006. Deadline for responses was set to 14 October 2005. ...
Efectos Fiscales sobre el Crecimiento Económico en la República
... wages. Indeed, movements in the income distribution, both personal and functional, may be an independent explanation of why the savings ratio first rises with the level of per capita income and then levels off. The transformation of countries from traditional agricultural economies through Rostow’s ...
... wages. Indeed, movements in the income distribution, both personal and functional, may be an independent explanation of why the savings ratio first rises with the level of per capita income and then levels off. The transformation of countries from traditional agricultural economies through Rostow’s ...
Overview of the Commonwealth Property Management Framework
... though the adoption of cost-benefit analysis, the use of Whole-of-Life Costs, and other mechanisms, such as risk assessments, that take into consideration economic, environmental, social and other issues in their decision-making. ...
... though the adoption of cost-benefit analysis, the use of Whole-of-Life Costs, and other mechanisms, such as risk assessments, that take into consideration economic, environmental, social and other issues in their decision-making. ...
diluting - McGraw Hill Higher Education
... Convertible Debt vs. Straight Equity • If the company subsequently does poorly, it will turn out that the conversion option finishes out-of-the-money, but the firm would have been even better off selling equity when the price was high. • But if the stock price does well, the firm is better off issui ...
... Convertible Debt vs. Straight Equity • If the company subsequently does poorly, it will turn out that the conversion option finishes out-of-the-money, but the firm would have been even better off selling equity when the price was high. • But if the stock price does well, the firm is better off issui ...
Thoughts on the macroeconomic situation: the role of La Caixa presentation
... NOTE: In countries where offshore banking is important, external debt could be larger than total debt (i.e UK) Source: Research Department, “la Caixa” ...
... NOTE: In countries where offshore banking is important, external debt could be larger than total debt (i.e UK) Source: Research Department, “la Caixa” ...
Performance of Equity Managers: Style versus "Neural Network
... – Lakonishok, Shleiffer and Vishny (LSV) argue that the money management industry is a “cottage” industry riddled with agency costs – Coggin, Fabozzi and Rahman (CFR) conclude that money-managers add substantial value over “style” benchmarks – Christopherson, Ferson and Glassman (CFG) conclude • per ...
... – Lakonishok, Shleiffer and Vishny (LSV) argue that the money management industry is a “cottage” industry riddled with agency costs – Coggin, Fabozzi and Rahman (CFR) conclude that money-managers add substantial value over “style” benchmarks – Christopherson, Ferson and Glassman (CFG) conclude • per ...
Chap014 - U of L Class Index
... • Consider the project’s risk relative to the firm overall • If the project is more risky than the firm, use a discount rate greater than the WACC • If the project is less risky than the firm, use a discount rate less than the WACC • You may still accept projects that you shouldn’t and reject projec ...
... • Consider the project’s risk relative to the firm overall • If the project is more risky than the firm, use a discount rate greater than the WACC • If the project is less risky than the firm, use a discount rate less than the WACC • You may still accept projects that you shouldn’t and reject projec ...
Word
... External balance of the Czech economy was improving already for the fourth year in a row in 2014. Flows of funds with abroad ended in accumulation of every quarter in surplus on the current account of balance of payments. The whole-year balance was thus also positive (CZK 26.1 bn, the best result in ...
... External balance of the Czech economy was improving already for the fourth year in a row in 2014. Flows of funds with abroad ended in accumulation of every quarter in surplus on the current account of balance of payments. The whole-year balance was thus also positive (CZK 26.1 bn, the best result in ...
lect8
... How do we measure Y? Ideally, Y should measure efficiency. With respect to publicly traded corporations in a well-functioning market economy, we can look at share values prior to reform P and after it. But for assets that have been privatized, we cannot do this even in market economies, because prer ...
... How do we measure Y? Ideally, Y should measure efficiency. With respect to publicly traded corporations in a well-functioning market economy, we can look at share values prior to reform P and after it. But for assets that have been privatized, we cannot do this even in market economies, because prer ...
What Determines the Banking Sector Performance in Globalized
... efficiency. As a result of these, many weak banks finally declared bankruptcy. Loose monetary policy and flexible exchange rate regime were seen as a solution to these problems which was in fact giving way to the severe economic crises of 2000 and 2001 (Aysan and Ceyhan, 2007a). Following the crises ...
... efficiency. As a result of these, many weak banks finally declared bankruptcy. Loose monetary policy and flexible exchange rate regime were seen as a solution to these problems which was in fact giving way to the severe economic crises of 2000 and 2001 (Aysan and Ceyhan, 2007a). Following the crises ...
provisions, contingent assets and contingent liabilities
... a) – liabilities with direct connection to operating cycle b) – liabilities with indirect connection to operating ...
... a) – liabilities with direct connection to operating cycle b) – liabilities with indirect connection to operating ...