Static and dynamic portfolio allocation with nonstandard utility
... Nowadays the distinction between short and long term decisions assumes a crucial role. Procedures defined for decision processes must be different. In a mean-variance criteria framework there is a trade-off between returns and risk, which means that the weights given to each component depend not onl ...
... Nowadays the distinction between short and long term decisions assumes a crucial role. Procedures defined for decision processes must be different. In a mean-variance criteria framework there is a trade-off between returns and risk, which means that the weights given to each component depend not onl ...
An Empirical Analysis of Capital Structure and Abnormal Returns
... of leverage to predict stock returns by using a cross-section of these ratios rather than changes over time. Also, we do not distinguish between the operating and investing activities of a firm, as we are concerned with the excess returns an investor can make from the overall activities of a compan ...
... of leverage to predict stock returns by using a cross-section of these ratios rather than changes over time. Also, we do not distinguish between the operating and investing activities of a firm, as we are concerned with the excess returns an investor can make from the overall activities of a compan ...
Corporate diversification and firm performance: An inverted U
... studies have shown contradictory results in developed countries; for instance, positive relationship between corporate diversification and firm performance has been observed or studied in several studies (Kim, Hoskisson, & Lee, 2014; Montgomery, 1994; Park & Jang, 2013). The findings of these studie ...
... studies have shown contradictory results in developed countries; for instance, positive relationship between corporate diversification and firm performance has been observed or studied in several studies (Kim, Hoskisson, & Lee, 2014; Montgomery, 1994; Park & Jang, 2013). The findings of these studie ...
Growth-Rate and Uncertainty Shocks in Consumption
... of WWII before falling substantially and in a sustained way in the 1970s and early 1980s. Growth was high again in the 1990s, but has been persistently low over the past decade, particularly after the onset of the Great Recession. Many asset pricing models abstract from these phenomena. However, Ban ...
... of WWII before falling substantially and in a sustained way in the 1970s and early 1980s. Growth was high again in the 1990s, but has been persistently low over the past decade, particularly after the onset of the Great Recession. Many asset pricing models abstract from these phenomena. However, Ban ...
NBER WORKING PAPER SERIES TRANSPARENCY AND INTERNATIONAL INVESTOR BEHAVIOR R. Gaston Gelos
... lack of clarity about government policies and policy formulation contributed to a loss of confidence that ultimately threatened to undermine global stability.” Consequently, the international financial institutions have actively promoted more transparency among their member countries as well as made ...
... lack of clarity about government policies and policy formulation contributed to a loss of confidence that ultimately threatened to undermine global stability.” Consequently, the international financial institutions have actively promoted more transparency among their member countries as well as made ...
On the logic, fairness and legality of discriminating
... of the restructuring are more favorable to domestic debt. The main economic argument for discriminating between the two debts is as follows. In principle, if one were to follow the logic that both domestic agents (workers and holders of capital/assets) and foreign investors have to share the burden ...
... of the restructuring are more favorable to domestic debt. The main economic argument for discriminating between the two debts is as follows. In principle, if one were to follow the logic that both domestic agents (workers and holders of capital/assets) and foreign investors have to share the burden ...
ion beam applications
... Interim consolidated Income Statement for the six months ended June 30, 2016 ....................................... 6 Interim consolidated statement of Comprehensive Income for the six months ended June 30, 2016.......... 7 Interim consolidated statement of changes in Shareholder’s Equity.......... ...
... Interim consolidated Income Statement for the six months ended June 30, 2016 ....................................... 6 Interim consolidated statement of Comprehensive Income for the six months ended June 30, 2016.......... 7 Interim consolidated statement of changes in Shareholder’s Equity.......... ...
unit 7 financial and operating leverage module - 2
... firm’s rate of return on net assets (RONA or ROI). Thus, when the difference between the earnings generated by assets financed by the fixed-charges funds and costs of these funds is distributed to the shareholders, the earnings per share (EPS) or return on equity (ROE) increases. However, EPS or ROE ...
... firm’s rate of return on net assets (RONA or ROI). Thus, when the difference between the earnings generated by assets financed by the fixed-charges funds and costs of these funds is distributed to the shareholders, the earnings per share (EPS) or return on equity (ROE) increases. However, EPS or ROE ...
Taste, information, and asset prices: Implications for the valuation of
... erogeneous beliefs or preferences hold di¤ering portfolios in equilibrium. While their results on the e¤ects of tastes on diversi…cation are similar to ours, they focus on situations where investors either derive a non-random utility from their share holdings or where fundamental returns in‡uence t ...
... erogeneous beliefs or preferences hold di¤ering portfolios in equilibrium. While their results on the e¤ects of tastes on diversi…cation are similar to ours, they focus on situations where investors either derive a non-random utility from their share holdings or where fundamental returns in‡uence t ...
Liquidity Crises, Liquidity Lines and Sovereign Risk December 2015
... credit lines (FCLs) offered by the International Monetary Fund (IMF) can be useful for mitigating the risks when arranged with countries that are solvent but illiquid3 . Yet, as a counter argument, there are views claiming existence of such lines might lead to an excessive borrowing by the governmen ...
... credit lines (FCLs) offered by the International Monetary Fund (IMF) can be useful for mitigating the risks when arranged with countries that are solvent but illiquid3 . Yet, as a counter argument, there are views claiming existence of such lines might lead to an excessive borrowing by the governmen ...
= Best Long-Term Shareholder Value
... Company raised gross proceeds of €215 million through the issuance of 215 million ordinary shares (the “Capital Raise”), which, together with the €200 million raised in the initial offering in April 2014, brings the total gross proceeds raised to €415 million. During the year ended 31 December 2015, ...
... Company raised gross proceeds of €215 million through the issuance of 215 million ordinary shares (the “Capital Raise”), which, together with the €200 million raised in the initial offering in April 2014, brings the total gross proceeds raised to €415 million. During the year ended 31 December 2015, ...
overweight - TD Ameritrade
... * The S&P Capital IQ Investment Policy Committee’s asset allocations are based on market expectations and are subject to change. The Highest Scoring ETFs by Asset Grouping listed above are based on their Overall S&P ETF Ranking. No consideration was given to non-ranking issues as amount of assets un ...
... * The S&P Capital IQ Investment Policy Committee’s asset allocations are based on market expectations and are subject to change. The Highest Scoring ETFs by Asset Grouping listed above are based on their Overall S&P ETF Ranking. No consideration was given to non-ranking issues as amount of assets un ...
NOTAS EXPLICATIVAS ÀS INFORMAÇÕES TRIMESTRAIS DE 30
... year ended December 31, 2015. On July 29, 2016, through Official Letter No. 149/2016CVM/SEP/GEA-5 ("CVM Official Letter 2016"), CVM expressed its view that the Step-up adjustments should not have been written down from TmarPart, but maintained at the assets to be incorporated to the Company, respect ...
... year ended December 31, 2015. On July 29, 2016, through Official Letter No. 149/2016CVM/SEP/GEA-5 ("CVM Official Letter 2016"), CVM expressed its view that the Step-up adjustments should not have been written down from TmarPart, but maintained at the assets to be incorporated to the Company, respect ...
File - Amy Toman e
... liabilities. It excludes inventory and other current assets which are more difficult to turn into cash” (Investopedia, 2013, para. 1). Quick ratio can be calculated by adding cash plus accounts receivable divided by current liabilities. While the current ratio and quick ratio are similar in their co ...
... liabilities. It excludes inventory and other current assets which are more difficult to turn into cash” (Investopedia, 2013, para. 1). Quick ratio can be calculated by adding cash plus accounts receivable divided by current liabilities. While the current ratio and quick ratio are similar in their co ...
Differences in profitability between European dairy processing firms
... (operating in niche markets). The European dairy sector has changed towards a more concentrated market structure because of changes in the European Union. There is a decrease in the number of dairy firms, an increase in the number of cows per firm and an increase in the productivity of a cow. In the ...
... (operating in niche markets). The European dairy sector has changed towards a more concentrated market structure because of changes in the European Union. There is a decrease in the number of dairy firms, an increase in the number of cows per firm and an increase in the productivity of a cow. In the ...
Sovereign Risk, Currency Risk, and Corporate Balance Sheets.
... Bénétrix et al. (2015). Several recent papers document the rapid growth in foreign participation in domestic LC sovereign debt markets, for example, Burger and Warnock (2007), Burger et al. (2012), Burger et al. (2014), and Arslanalp and Tsuda (2014). We combine data on foreign participation in dome ...
... Bénétrix et al. (2015). Several recent papers document the rapid growth in foreign participation in domestic LC sovereign debt markets, for example, Burger and Warnock (2007), Burger et al. (2012), Burger et al. (2014), and Arslanalp and Tsuda (2014). We combine data on foreign participation in dome ...
Global Fixed Income Portfolio
... Liquidity risk is the risk that a security will not be able to be sold quickly without giving up a large price concession The bid/asked spread is the best measure of liquidity risk: the wider the spread, the greater the liquidity risk The market bid/asked spread can be determined by simply taking th ...
... Liquidity risk is the risk that a security will not be able to be sold quickly without giving up a large price concession The bid/asked spread is the best measure of liquidity risk: the wider the spread, the greater the liquidity risk The market bid/asked spread can be determined by simply taking th ...