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Bright Directions 529 College Savings Program
Bright Directions 529 College Savings Program

... Before investing in the Bright Directions College Savings Program, you should consider carefully the following: 1. Depending on the laws of your home state or that of your designated beneficiary, favorable state tax treatment or other benefits offered by such home state for investing in 529 college ...
stock price reactions to securities fraud class actions
stock price reactions to securities fraud class actions

... decision. We conclude that the information contained in the decision regarding the motion to dismiss is either considered immaterial by market participants or is too costly to obtain. The major findings of our logit regression are that share turnover, the abnormal return around the revelation date, ...
Preprint - Imperial College London
Preprint - Imperial College London

... drift or the volatility. To do this one has to pick a strategy one is shrinking towards. When shrinking towards the optimal strategy, the James-Stein strategy is (almost) as good as the optimal strategy - except for a fixed penalty not depending on the number d of available stocks, see (4.2). In pra ...
Bond Positions, Expectations, And The Yield Curve∗
Bond Positions, Expectations, And The Yield Curve∗

... the yield curve. Subjective premia of long bond are thus not only less volatile, but also much less cyclical. The lesson we draw for the structural modelling of long bonds is that the puzzle is less that premia are cyclical, but rather that they were much higher in the early 1980s than at other tim ...
Morningstar Guide
Morningstar Guide

... A five-star sector fund, for example, might have the best risk-adjusted return within its specific category, but it’s probably far riskier than a highly rated diversified offering. Rather than choosing investments according to their ratings, investors should first decide on an overall portfolio stra ...
influence of liquidity on profitability - e
influence of liquidity on profitability - e

... lowest possible costs and without losing their value. Appropriate resources of liquid elements of the assets, including cash, are the enterprise’s protection against the loss of financial liquidity. The most common and the most frequently used concepts of financial liquidity concern mutual relations ...
Dr - Bankier.pl
Dr - Bankier.pl

... I. Objective of the Company The basic objective of operations of a company’s authorities is to further the interest of the company, i.e. to increase the value of the assets entrusted by its shareholders, with consideration to the rights and interests of entities other than shareholders, involved in ...
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Frame - Frips
Frame - Frips

... human beings arrive at decisions and choices when faced with uncertainty. An increasing body of literature on framing supports a tendency for people to take more risks when seeking to avoid losses as opposed to securing gains. Takemura (1992) showed that the effects of framing are likely to be lower ...
Success of the 2014-2016 Business Development Plan
Success of the 2014-2016 Business Development Plan

... synergies. Forward-looking statements are not guarantees of future performance and are subject to inherent risks, uncertainties and assumptions about BNP Paribas and its subsidiaries and investments, developments of BNP Paribas and its subsidiaries, banking industry trends, future capital expenditur ...
Government Intervention in Venture Capital in Canada: Toward
Government Intervention in Venture Capital in Canada: Toward

... requirements of portfolio companies, particularly at the later stages of financing. Beyond this general perception that the market, left to its own devices, has not provided sufficient venture capital, the rationale for government involvement varies with the level of government. In addition, the cal ...
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SOL MELIÁ GANA 50 millones (+31,5%) GRACIAS A SU
SOL MELIÁ GANA 50 millones (+31,5%) GRACIAS A SU

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Part 1: The objectives of the financial system and its regulation

... Challenging business conditions for some life insurance sectors are being addressed .. 58 Pricing of general insurance products increasingly reflects idiosyncratic risks............... 59 More precise pricing of risk is impacting on affordability ............................................... 60 Th ...
The cultural revolution in risk management
The cultural revolution in risk management

... order to understand the risks created by people’s behavior, one must first understand how to characterize and analyze a given culture. Many risk culture models are generic and include factors such as people, processes, organization design, and rewards. Typically, however, these models are not organi ...
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... The growth diagnostic approach is based on the idea that there may be many reasons why an economy does not grow, but each reason generates a distinctive set of symptoms. These symptoms can become the basis of a differential diagnostic in which the analyst tries to distinguish among potential explana ...
Chapter 11 Dividend Policy
Chapter 11 Dividend Policy

... 1.2.1 Retained earnings is surplus cash that has not been needed for operating costs, interest payments, tax liabilities, asset replacement or cash dividends. For many businesses, the cash needed to finance investments will be available because the earnings the business has made have been retained w ...
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Two and Twenty - New York University Law Review
Two and Twenty - New York University Law Review

... Private equity fund managers take a share of the profits of the partnership as the equity portion of their compensation. The tax rules for compensating general partners create a planning opportunity for managers who receive the industry standard “two and twenty” (a two percent management fee and twe ...
Temporal Investment of Adaptation and Mitigation
Temporal Investment of Adaptation and Mitigation

... • Well planned adaptation is an economically effective complement to mitigation and an important current policy option • Adaptation investment tackles the short run reduction of damages in the first 250 years while mitigation dominates from thereon • Effective political strategy is the immediate rol ...
Basics and Problems - Ace MBAe Finance Specialization
Basics and Problems - Ace MBAe Finance Specialization

... The comparison to the aggregate economy is important because almost all firms are influenced by the economy’s expansions and contractions (recessions) in the business cycle. For example, it is unreasonable to expect an increase in the profit margin for a firm during a recession; a stable margin migh ...


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annual report
annual report

... economies through a strategy of introducing globally strategic products and providing solutions, through measures such as (1) pursuing global growth, (2) providing solutions that customers will choose, (3) focusing on growth markets and strong businesses, and (4) improving profitability. Since 2013 i ...
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Investment management

Investment management is the professional asset management of various securities (shares, bonds and other securities) and other assets (e.g., real estate) in order to meet specified investment goals for the benefit of the investors. Investors may be institutions (insurance companies, pension funds, corporations, charities, educational establishments etc.) or private investors (both directly via investment contracts and more commonly via collective investment schemes e.g. mutual funds or exchange-traded funds).The term asset management is often used to refer to the investment management of collective investments, while the more generic fund management may refer to all forms of institutional investment as well as investment management for private investors. Investment managers who specialize in advisory or discretionary management on behalf of (normally wealthy) private investors may often refer to their services as money management or portfolio management often within the context of so-called ""private banking"".The provision of investment management services includes elements of financial statement analysis, asset selection, stock selection, plan implementation and ongoing monitoring of investments. Coming under the remit of financial services many of the world's largest companies are at least in part investment managers and employ millions of staff.Fund manager (or investment advisor in the United States) refers to both a firm that provides investment management services and an individual who directs fund management decisions.According to a Boston Consulting Group study, the assets managed professionally for fees reached an all-time high of US$62.4 trillion in 2012, after remaining flat-lined since 2007. Furthermore, these industry assets under management were expected to reach US$70.2 trillion at the end of 2013 as per a Cerulli Associates estimate.The global investment management industry is highly concentrated in nature, in a universe of about 70,000 funds roughly 99.7% of the US fund flows in 2012 went into just 185 funds. Additionally, a majority of fund managers report that more than 50% of their inflows go to just three funds.
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