Commonality In The Determinants Of Expected Stock Returns
... belong in the risk category discussed above. Others (Chopra, Ritter and Lakonishok (1992), Lakonishok, Shleifer and Vishny (1994), and Haugen (1995)), believe that the premium returns to value stocks are unexpected and systematically surprise investors. They believe that investors over react to the ...
... belong in the risk category discussed above. Others (Chopra, Ritter and Lakonishok (1992), Lakonishok, Shleifer and Vishny (1994), and Haugen (1995)), believe that the premium returns to value stocks are unexpected and systematically surprise investors. They believe that investors over react to the ...
GCC Markets Monthly Report
... valuations for key large-cap fundamentally strong stocks. This was also evident from the FY-2014 earning result announcement that saw year-on-year improvement in profitability. Nevertheless, the market did saw profit taking and oil-price led sell-off on a number of trading sessions, but the end-of-m ...
... valuations for key large-cap fundamentally strong stocks. This was also evident from the FY-2014 earning result announcement that saw year-on-year improvement in profitability. Nevertheless, the market did saw profit taking and oil-price led sell-off on a number of trading sessions, but the end-of-m ...
NBER WORKING PAPER SERIES BUBBLES, FINANCIAL CRISES, AND SYSTEMIC RISK Martin Oehmke
... economy that was affected by a bubble and spread the effects to other parts of the economy. Amplification mechanisms that arise during financial crises can either be direct (caused by direct contractual links) or indirect (caused by spillovers or externalities that are due to common exposures or th ...
... economy that was affected by a bubble and spread the effects to other parts of the economy. Amplification mechanisms that arise during financial crises can either be direct (caused by direct contractual links) or indirect (caused by spillovers or externalities that are due to common exposures or th ...
CPDO – Managed Trades
... premium earned over the next roll period. – At 15 times leverage, a 10bps spread increase will lead to 1.50% higher return per annum. – Any MTM losses incurred from spread widening in the underlying assets can be made back by increasing the leveraged exposure to this higher spread so that the future ...
... premium earned over the next roll period. – At 15 times leverage, a 10bps spread increase will lead to 1.50% higher return per annum. – Any MTM losses incurred from spread widening in the underlying assets can be made back by increasing the leveraged exposure to this higher spread so that the future ...
... The primary goal of this paper is to appraise the view that securities markets record the quantity of produced capital accumulated by corporations. Although this view is particularly interesting with respect to huge increases in stock-market values that have occurred over the past five years, this p ...
Unpacking the Relationship between OFDI and Innovation
... culture, institution and economic settings. Empirically, previous studies suggest that FDI not only brings technology from parent companies to the host country via diffusion channels (Keller, 1997; Driffield and Love, 2007; Fu 2012), it is also likely that technologies absorbed by subsidiaries in th ...
... culture, institution and economic settings. Empirically, previous studies suggest that FDI not only brings technology from parent companies to the host country via diffusion channels (Keller, 1997; Driffield and Love, 2007; Fu 2012), it is also likely that technologies absorbed by subsidiaries in th ...
Presentation
... • 3. Step 3: Determine the transaction price. • 4. Step 4: Allocate the transaction price to the separate performance obligations • 5. Step 5: Recognize revenue when (or as) performance obligation is satisfied. ...
... • 3. Step 3: Determine the transaction price. • 4. Step 4: Allocate the transaction price to the separate performance obligations • 5. Step 5: Recognize revenue when (or as) performance obligation is satisfied. ...
Domestic Saving and International Capital Flows
... generally, since the risks of investing in different countries and currencies are not perfectly correlated, individual and corporate investors will tend to choose a portfolio in which expected yields are not equal. For most investors, the uncertainties and risks associated with foreign investment ar ...
... generally, since the risks of investing in different countries and currencies are not perfectly correlated, individual and corporate investors will tend to choose a portfolio in which expected yields are not equal. For most investors, the uncertainties and risks associated with foreign investment ar ...
chapter 2A - Wageningen UR E
... mandatory in this particular context?’ A facilitation strategy emphasizes the receptiveness to the viewpoints, interests and values of others (‘responsiveness’). Central are dialogue and learning in and by the organization. The facilitation strategy is predominantly a process-oriented strategy. Cent ...
... mandatory in this particular context?’ A facilitation strategy emphasizes the receptiveness to the viewpoints, interests and values of others (‘responsiveness’). Central are dialogue and learning in and by the organization. The facilitation strategy is predominantly a process-oriented strategy. Cent ...
How Does Post-Crisis Bank Capital Adequacy Affect Firm
... identify sectors that are intrinsically more dependent on external financing for their investment versus those that tend to finance capital projects more from their cash flows. The RZ index is calculated using data for U.S. firms which are assumed to suffer least from supply-side financing constrain ...
... identify sectors that are intrinsically more dependent on external financing for their investment versus those that tend to finance capital projects more from their cash flows. The RZ index is calculated using data for U.S. firms which are assumed to suffer least from supply-side financing constrain ...
Worth the risk? The appeal and challenges of high
... including its size, the dynamics of spreads, and its unique risk characteristics. Next, high-yield bonds are evaluated in terms of their potential role in a diversified portfolio, focusing on the investment characteristics of the market and the challenges associated with incorporating them into an i ...
... including its size, the dynamics of spreads, and its unique risk characteristics. Next, high-yield bonds are evaluated in terms of their potential role in a diversified portfolio, focusing on the investment characteristics of the market and the challenges associated with incorporating them into an i ...
General framework for stochastic investigations of investment and
... 3.5.4 For the mortality reserving model, possible implementations include: a static basis, under which a fixed expected mortality model, with or without allowance for future improvements, (see 3.2.2 above) is used to calculate the expected future rates of mortality a dynamic strategy, under whic ...
... 3.5.4 For the mortality reserving model, possible implementations include: a static basis, under which a fixed expected mortality model, with or without allowance for future improvements, (see 3.2.2 above) is used to calculate the expected future rates of mortality a dynamic strategy, under whic ...
Probability and Impact Rating System
... The type and extent of exposure will vary depending on the risk appetite of the entity and the nature of the products and services offered. Typically, the greater the potential to generate high returns from an activity, the more risk will be associated with that activity and the larger will be the a ...
... The type and extent of exposure will vary depending on the risk appetite of the entity and the nature of the products and services offered. Typically, the greater the potential to generate high returns from an activity, the more risk will be associated with that activity and the larger will be the a ...
Private Equity - Gilbert + Tobin Lawyers
... bidder’s intentions, funding arrangements for cash consideration, prospectus-level disclosure concerning the bidder and the merged entity if the offer consideration includes securities and all information known to the bidder that is material to a target shareholder’s decision of whether to accept th ...
... bidder’s intentions, funding arrangements for cash consideration, prospectus-level disclosure concerning the bidder and the merged entity if the offer consideration includes securities and all information known to the bidder that is material to a target shareholder’s decision of whether to accept th ...
NBER WORKING PAPER SERIES THE LIMITS OF FINANCIAL GLOBALIZATION René M. Stulz
... When this agency problem is significant, corporations with professional managers and atomistic shareholders are inefficient. The dispersed ownership organizational form is inefficient because managers can best reduce the risks of expropriation by taking actions that both increase their discretion an ...
... When this agency problem is significant, corporations with professional managers and atomistic shareholders are inefficient. The dispersed ownership organizational form is inefficient because managers can best reduce the risks of expropriation by taking actions that both increase their discretion an ...
Expected Returns on Major Asset Classes
... and place for which it is being estimated. Other premia, or differences of asset class expected returns, have the same characteristic. Ibbotson and Sinquefield’s (1976a, 1976b) work exemplifies the next period, the classical period. They noted that expected returns on cash and bonds are, naturally, ...
... and place for which it is being estimated. Other premia, or differences of asset class expected returns, have the same characteristic. Ibbotson and Sinquefield’s (1976a, 1976b) work exemplifies the next period, the classical period. They noted that expected returns on cash and bonds are, naturally, ...
