THE REAL EFFECTS OF POLITICAL UNCERTAINTY: ELECTIONS, CAPITAL ALLOCATION, AND PERFORMANCE
... performance is likely to suffer. Consistent with this argument, we show that firms that experience a drop in investment-to-price sensitivity during election years perform worse over the two years following elections. This result send a strong message that political uncertainty has a significant imp ...
... performance is likely to suffer. Consistent with this argument, we show that firms that experience a drop in investment-to-price sensitivity during election years perform worse over the two years following elections. This result send a strong message that political uncertainty has a significant imp ...
Which Nations like BITs Best?
... BITs are a significant interference with a country’s sovereignty, as any public policy regulation can be challenged in a binding investor-to-state settlement in an international arbitration court as long as it negatively affects investors (Neumayer and Spess 2005). The investment treaty is essentia ...
... BITs are a significant interference with a country’s sovereignty, as any public policy regulation can be challenged in a binding investor-to-state settlement in an international arbitration court as long as it negatively affects investors (Neumayer and Spess 2005). The investment treaty is essentia ...
Prospectus - Pacific Asset Management
... choose the Fund that best suits their specific risk and return expectations as well as their diversification needs and are encouraged to seek independent advice in that regard. A separate pool of assets will be maintained for each Fund and will be invested in accordance with the investment policy ap ...
... choose the Fund that best suits their specific risk and return expectations as well as their diversification needs and are encouraged to seek independent advice in that regard. A separate pool of assets will be maintained for each Fund and will be invested in accordance with the investment policy ap ...
Money and Velocity During Financial Crises: From the Great
... “The recent decades, and more particularly the last two, have seen the most substantial evolution, maybe we should say revolution, in the financial and monetary sectors of the developed nations of the world. In the financial sector in the broad sense, many new types of financial claims (both assets ...
... “The recent decades, and more particularly the last two, have seen the most substantial evolution, maybe we should say revolution, in the financial and monetary sectors of the developed nations of the world. In the financial sector in the broad sense, many new types of financial claims (both assets ...
Comparative Financial Systems: A Survey
... The purpose of a financial system is to channel funds from agents with surpluses to agents with deficits. In the traditional literature there have been two approaches to analyzing this process. The first is to consider how agents interact through financial markets. The second looks at the operation ...
... The purpose of a financial system is to channel funds from agents with surpluses to agents with deficits. In the traditional literature there have been two approaches to analyzing this process. The first is to consider how agents interact through financial markets. The second looks at the operation ...
lecture 02 - risk and return relationship
... Find beta of a comparable firm Adjust for leverage level ...
... Find beta of a comparable firm Adjust for leverage level ...
Analysis of Chosen Strategies of Asset and Liability Management in
... performance, but also the profit. The core problem in asset and liability management is the fact that the main asset of commercial bank - credits – not always can be liquid, especially if the country‘s economy is in deep recession. Upon such conditions, the need for restructuring of some credits ari ...
... performance, but also the profit. The core problem in asset and liability management is the fact that the main asset of commercial bank - credits – not always can be liquid, especially if the country‘s economy is in deep recession. Upon such conditions, the need for restructuring of some credits ari ...
fa13-Weissman
... 1) In a rising interest rate environment, the story this year has been own lodging (shorter lease duration play) 2) Investor sentiment has shifted – less concerned about Macro blow-ups 3) Among the best internal growth stories relative to other asset classes 4) Deals, deals and more deals. Consolida ...
... 1) In a rising interest rate environment, the story this year has been own lodging (shorter lease duration play) 2) Investor sentiment has shifted – less concerned about Macro blow-ups 3) Among the best internal growth stories relative to other asset classes 4) Deals, deals and more deals. Consolida ...
Sequencing riSk a key challenge to creating SuStainaBle
... (or retirement nest egg) increases in size, the variation that can occur in the dollar value of this portfolio also increases. This idea has been described by Basu and Drew (2009a) as the ‘portfolio size effect’. The key determinant of retirement outcomes in DC plans is the interplay between portfol ...
... (or retirement nest egg) increases in size, the variation that can occur in the dollar value of this portfolio also increases. This idea has been described by Basu and Drew (2009a) as the ‘portfolio size effect’. The key determinant of retirement outcomes in DC plans is the interplay between portfol ...
Alcon Division
... or opportunities as a result of these transactions; or regarding potential future sales or earnings of the Novartis Group or its divisions and associated companies; or by discussions of strategy, plans, expectations or intentions. You should not place undue reliance on these statements. Such forward ...
... or opportunities as a result of these transactions; or regarding potential future sales or earnings of the Novartis Group or its divisions and associated companies; or by discussions of strategy, plans, expectations or intentions. You should not place undue reliance on these statements. Such forward ...
Circular no. 155/TT-BTC on guidelines for information disclosure on
... funds, and public investment companies shall disclose information on the means prescribed in Points a, b and c Clause 1 of this Article. 5. The SE shall disclose information on the mean prescribed in Point c Clause 1 of this Article. 6. The SDC shall disclose information on the mean prescribed in Po ...
... funds, and public investment companies shall disclose information on the means prescribed in Points a, b and c Clause 1 of this Article. 5. The SE shall disclose information on the mean prescribed in Point c Clause 1 of this Article. 6. The SDC shall disclose information on the mean prescribed in Po ...
Disclosure on Market Discipline as required under Pillar III of Basel
... Quarterly risk assessment and capital adequacy review against target Annual Review of ICAAP Under the supervision of the senior management of the bank, the Country Risk Management Committee (CRMC) discusses, reviews and manages the material risks faced by the bank. The committee is headed by Chief R ...
... Quarterly risk assessment and capital adequacy review against target Annual Review of ICAAP Under the supervision of the senior management of the bank, the Country Risk Management Committee (CRMC) discusses, reviews and manages the material risks faced by the bank. The committee is headed by Chief R ...
TRMCX TRMIX TAMVX RRMVX Mid-Cap Value Fund Investor Class
... in securities issued by mid-cap companies, it is likely to be more volatile than a fund that focuses on securities issued by large companies. Medium-sized companies may have less seasoned management, narrower product lines, and less capital reserves and liquidity than larger companies, and are there ...
... in securities issued by mid-cap companies, it is likely to be more volatile than a fund that focuses on securities issued by large companies. Medium-sized companies may have less seasoned management, narrower product lines, and less capital reserves and liquidity than larger companies, and are there ...
tortoise capital resources corporation
... (6) In July 2008, LONESTAR Midstream Partners, LP sold its assets to Penn Virginia Resource Partners, L.P. (PVR). LONESTAR has no continuing operations, but currently holds certain rights to receive future payments from PVR relative to the sale. LSMP GP, LP indirectly owns the general partner of LO ...
... (6) In July 2008, LONESTAR Midstream Partners, LP sold its assets to Penn Virginia Resource Partners, L.P. (PVR). LONESTAR has no continuing operations, but currently holds certain rights to receive future payments from PVR relative to the sale. LSMP GP, LP indirectly owns the general partner of LO ...
Is investment protectionism on the rise?
... countries which traditionally have been the most restrictive. Governments worldwide recognise the potential benefits that FDI can bring under the right conditions. Indeed many remaining restrictions are designed more to try to maximise those benefits than they are to restrict foreign investment. For ...
... countries which traditionally have been the most restrictive. Governments worldwide recognise the potential benefits that FDI can bring under the right conditions. Indeed many remaining restrictions are designed more to try to maximise those benefits than they are to restrict foreign investment. For ...
Financial Markets Strategy Team Second Report “Toward an Open
... Furthermore, when Bear Stearns was bailed out in March, the Federal Reserve Bank of New York took a bold step by providing 29 billion dollars to the company that took over the non-performing assets of Bear Stearns. This can be said to be a de facto use of public funds, thereby strengthening the appr ...
... Furthermore, when Bear Stearns was bailed out in March, the Federal Reserve Bank of New York took a bold step by providing 29 billion dollars to the company that took over the non-performing assets of Bear Stearns. This can be said to be a de facto use of public funds, thereby strengthening the appr ...
Does a Structural Macroeconomic Model Help Long
... Several papers demonstrate that macro variables are useful for predicting financial returns. See, e.g., Cochrane (1991), Lettau and Ludvigson (2001), Santos and Veronesi (2006), and Cooper and Priestley (2008) for stock returns and Ang and Piazzesi (2003), Hördahl et al. (2008), and Rudebusch and ...
... Several papers demonstrate that macro variables are useful for predicting financial returns. See, e.g., Cochrane (1991), Lettau and Ludvigson (2001), Santos and Veronesi (2006), and Cooper and Priestley (2008) for stock returns and Ang and Piazzesi (2003), Hördahl et al. (2008), and Rudebusch and ...
Chapter 6. The Internationalisation of Portuguese Manufacturing Firms
... firms in the sample exported to Spain. For most, Spain was the first foreign market. Hence, the fact that only 22 per cent of the firms in the sample established their first productive foreign investment in Spain seems to be an underestimate of the importance of the Spanish market for the Portuguese ...
... firms in the sample exported to Spain. For most, Spain was the first foreign market. Hence, the fact that only 22 per cent of the firms in the sample established their first productive foreign investment in Spain seems to be an underestimate of the importance of the Spanish market for the Portuguese ...
ANNUAL REPORT 2011
... been able to make a two cent distribution for the year supplemented by free cash from reserves. In addition, the Tollway’s ongoing operational performance confirms its status as a world class infrastructure asset, with effective incident response systems, high maintenance standards and an impressive ...
... been able to make a two cent distribution for the year supplemented by free cash from reserves. In addition, the Tollway’s ongoing operational performance confirms its status as a world class infrastructure asset, with effective incident response systems, high maintenance standards and an impressive ...
Community Investment
... needs or interests amongst the members. Typically, this common need or interest will define their relationship with the co-operative as a service user, customer, employee or supplier. Co-operatives have open membership – there should be no artificial restrictions on membership, and it should be open ...
... needs or interests amongst the members. Typically, this common need or interest will define their relationship with the co-operative as a service user, customer, employee or supplier. Co-operatives have open membership – there should be no artificial restrictions on membership, and it should be open ...
Investment in the OECD 19may2015
... Second, the value of a firm’s capital stock decreases with age and usage. The capital stock only increases over time when investment exceeds the depreciation rate. The return on investment depends on the marginal productivity of capital. In other words, when a production process becomes more produc ...
... Second, the value of a firm’s capital stock decreases with age and usage. The capital stock only increases over time when investment exceeds the depreciation rate. The return on investment depends on the marginal productivity of capital. In other words, when a production process becomes more produc ...