Fixed income for defined benefit plan investing
... to adjust as the DB plan’s cash flow changes—which it will. Funds, on the other hand, usually allow for the purchase and sale of shares with little or no difficulty. Rebalancing. Funds’ liquidity makes asset rebalancing easier as the assets and liabilities develop over time. Costs. The lower they ar ...
... to adjust as the DB plan’s cash flow changes—which it will. Funds, on the other hand, usually allow for the purchase and sale of shares with little or no difficulty. Rebalancing. Funds’ liquidity makes asset rebalancing easier as the assets and liabilities develop over time. Costs. The lower they ar ...
Stock characteristics and market myopia
... more impact on some kind of stocks, especially those that are hard-to-value or difficult-toarbitrage. This leads us to test for a higher level of market myopia in this type of stocks. A positive result will support the claim that market value may not be a good proxy for fair value in this kind of st ...
... more impact on some kind of stocks, especially those that are hard-to-value or difficult-toarbitrage. This leads us to test for a higher level of market myopia in this type of stocks. A positive result will support the claim that market value may not be a good proxy for fair value in this kind of st ...
Reference Value of Customer Relationships
... monetary value of the relationship. A supplier might close a deal with a substantially lower profit margin than average, due to the high perceived reference value of the customer relationship. The lost profit margin is considered as a cost of new market access gained through the critical reference ( ...
... monetary value of the relationship. A supplier might close a deal with a substantially lower profit margin than average, due to the high perceived reference value of the customer relationship. The lost profit margin is considered as a cost of new market access gained through the critical reference ( ...
FOR IMMEDIATE RELEASE Contact: Kelly Youngblood
... aggregate purchase price of up to $3.3 billion. Pursuant to the tender offer, company stockholders may tender all or a portion of their shares (1) at a price specified by the tendering stockholder of not less than $42.50 and not more than $48.50 per share or (2) without specifying a purchase price, ...
... aggregate purchase price of up to $3.3 billion. Pursuant to the tender offer, company stockholders may tender all or a portion of their shares (1) at a price specified by the tendering stockholder of not less than $42.50 and not more than $48.50 per share or (2) without specifying a purchase price, ...
El paso home loans email e-mail
... applying for a loan, or opening a checking account, savings account, FirstLight Federal Credit Union can meet all of your banking needs, with locations in El. Information on administration, academics, and community services, including online registration. WestStar Bank is an El Paso borderplex bank ...
... applying for a loan, or opening a checking account, savings account, FirstLight Federal Credit Union can meet all of your banking needs, with locations in El. Information on administration, academics, and community services, including online registration. WestStar Bank is an El Paso borderplex bank ...
Washington Mutual – largest bank failure in US history
... Reacting to Crisis: Short-Term Problem or Long-Term Opportunity? Opportunistic—Adds $2,000 each time the market drops by 10% or more in a month. Total investment: $20,000 ...
... Reacting to Crisis: Short-Term Problem or Long-Term Opportunity? Opportunistic—Adds $2,000 each time the market drops by 10% or more in a month. Total investment: $20,000 ...
This PDF is a selection from an out-of-print volume from... Bureau of Economic Research
... the loan. As the rate of inflation has increased in recent years, so too has the inflation premium built into interest rates. While long-term as well as short-term interest rates contain such a premium, conventional long-term bonds lock the investor into the current interest rate for the life of the ...
... the loan. As the rate of inflation has increased in recent years, so too has the inflation premium built into interest rates. While long-term as well as short-term interest rates contain such a premium, conventional long-term bonds lock the investor into the current interest rate for the life of the ...
INVENTORY finance
... custody by the CMC of goods in a storage location temporarily leased by the CMC, with signs posted and locks in place. The CMC will usually issue a custodial document to the bank that may not have legal validity, but the CMC will take responsibility for the control of the goods under the Collateral ...
... custody by the CMC of goods in a storage location temporarily leased by the CMC, with signs posted and locks in place. The CMC will usually issue a custodial document to the bank that may not have legal validity, but the CMC will take responsibility for the control of the goods under the Collateral ...
Asset Prices and the Business Cycle
... prices more than proportionately. See Robert Barsky and J. Bradford De Long, “Why Does the Stock Market Fluctuate?” Quarterly Journal of Economics, Vol. 108 (May 1993), pp. 291–311. Indications that investors tend to overestimate the persistence of variations in dividend growth—or, equivalently, to ...
... prices more than proportionately. See Robert Barsky and J. Bradford De Long, “Why Does the Stock Market Fluctuate?” Quarterly Journal of Economics, Vol. 108 (May 1993), pp. 291–311. Indications that investors tend to overestimate the persistence of variations in dividend growth—or, equivalently, to ...
W h a t
... escudos. On top of this, the world price of gold appreciated significantly over time, which allowed the Portuguese administration to make a profit based on the differential between the world price of gold and the price of gold that had been fixed in the agreement with the South African authorities. ...
... escudos. On top of this, the world price of gold appreciated significantly over time, which allowed the Portuguese administration to make a profit based on the differential between the world price of gold and the price of gold that had been fixed in the agreement with the South African authorities. ...
Outlook The Last Innings
... higher and going into 2016, we see no recession on the horizon. This bull market is the third-longest since WWII and this economic recovery is the fourth-longest. The US has become the largest producer of oil and natural gas liquids globally, substantially reducing a historic reliance on the tinderb ...
... higher and going into 2016, we see no recession on the horizon. This bull market is the third-longest since WWII and this economic recovery is the fourth-longest. The US has become the largest producer of oil and natural gas liquids globally, substantially reducing a historic reliance on the tinderb ...
5 A larger current account deficit with a very
... direct investment in 2015, but will be sharper in 2016, as the recovery of other tradable sectors and major infrastructure projects will involve the inflow of stable funding from abroad that will offset the persistence of a low level of investment in mining and oil activities and leave foreign inves ...
... direct investment in 2015, but will be sharper in 2016, as the recovery of other tradable sectors and major infrastructure projects will involve the inflow of stable funding from abroad that will offset the persistence of a low level of investment in mining and oil activities and leave foreign inves ...
perspectives on dynamic asset allocation
... 8 In absence of mean reversion, the volatility grows with the length of the investment horizon, not linearly but with the square root of the investment horizon. If, for instance, annual returns would have a volatility of 10%, the volatility over a horizon of 16 years would be sqrt(16)*10=40%. If mea ...
... 8 In absence of mean reversion, the volatility grows with the length of the investment horizon, not linearly but with the square root of the investment horizon. If, for instance, annual returns would have a volatility of 10%, the volatility over a horizon of 16 years would be sqrt(16)*10=40%. If mea ...
Private Equity Investment in India: Efficiency vs Expansion
... firm outcomes, I then merge this combined dataset to Prowess, a database of financial information for large and medium-sized Indian firms. However, identifying a causal effect of PE is difficult. The main challenge is that PE does not flow to firms randomly but, instead, flows to larger, more succes ...
... firm outcomes, I then merge this combined dataset to Prowess, a database of financial information for large and medium-sized Indian firms. However, identifying a causal effect of PE is difficult. The main challenge is that PE does not flow to firms randomly but, instead, flows to larger, more succes ...
Investment Decisions and Financial Standing of Portuguese Firms
... virtually all Portuguese corporate firms in the Portuguese Economy, both private and state owned firms (the latter having been removed from the sample) since 2006 until 2011 (which is the most recent data available). One of the main benefits of using IES is the ability to focus the analysis at the m ...
... virtually all Portuguese corporate firms in the Portuguese Economy, both private and state owned firms (the latter having been removed from the sample) since 2006 until 2011 (which is the most recent data available). One of the main benefits of using IES is the ability to focus the analysis at the m ...
Portfolio Theory - University of Toronto
... Merton Miller and William Sharpe for what has become a broad theory for portfolio selection. ...
... Merton Miller and William Sharpe for what has become a broad theory for portfolio selection. ...
Bank Profitability and Risk#Taking
... We explain it based purely on shareholder value maximization. In another extension, we consider the e¤ects of monetary policy on bank risk-taking. Loose monetary policy reduces the bank’s cost of funding, increasing its pro…tability. We show that this has two, opposite e¤ects on bank risk taking in ...
... We explain it based purely on shareholder value maximization. In another extension, we consider the e¤ects of monetary policy on bank risk-taking. Loose monetary policy reduces the bank’s cost of funding, increasing its pro…tability. We show that this has two, opposite e¤ects on bank risk taking in ...
NBER WORKING PAPER SERIES EQUILIBRIUM COMMODITY PRICES WITH
... and Spatt (2002). One of the drawbacks of this literature is that the models are highly stylized and thus cannot be used to make quantitative predictions about the dynamics of spot and futures prices. For example, these papers assume riskneutrality which forces futures prices to equal expected futur ...
... and Spatt (2002). One of the drawbacks of this literature is that the models are highly stylized and thus cannot be used to make quantitative predictions about the dynamics of spot and futures prices. For example, these papers assume riskneutrality which forces futures prices to equal expected futur ...
Homeownership 2.0 - Chicago Unbound
... many of the household's eggs in one basket not only runs counter to basic principles of portfolio diversification, but also motivates potentially costly basket-guarding behaviors.1 2 Moreover, households that lack the financial wherewithal or risk tolerance to take on such a large investment simply ...
... many of the household's eggs in one basket not only runs counter to basic principles of portfolio diversification, but also motivates potentially costly basket-guarding behaviors.1 2 Moreover, households that lack the financial wherewithal or risk tolerance to take on such a large investment simply ...
The importance of long-term financing by banks
... • What is the importance of long-term financing to the real economy? • Can alternative financial intermediaries replace banks in long-term financing? • What will long-term financing by banks look like under the new rules and what adjustments must be made to regulations to ensure that banks can still ...
... • What is the importance of long-term financing to the real economy? • Can alternative financial intermediaries replace banks in long-term financing? • What will long-term financing by banks look like under the new rules and what adjustments must be made to regulations to ensure that banks can still ...
A Modest Proposal: Statehood and Sovereignty in a Global Age
... players enter the scene, our notions of the role of the State are challenged. The rapidity of the changes taking place and the often ill-defined mechanisms through which they are effected make it difficult to fully comprehend their effects on the traditional statecentric model of international law. ...
... players enter the scene, our notions of the role of the State are challenged. The rapidity of the changes taking place and the often ill-defined mechanisms through which they are effected make it difficult to fully comprehend their effects on the traditional statecentric model of international law. ...
Statement of Advice sample wording
... The information provided is intended for the use of advisers only, is of a general nature and does not take into account an investor's personal needs, financial circumstances or objectives. Before acting on this information, an investor should consider the appropriateness of the information, having ...
... The information provided is intended for the use of advisers only, is of a general nature and does not take into account an investor's personal needs, financial circumstances or objectives. Before acting on this information, an investor should consider the appropriateness of the information, having ...
Using the Bank Anti-Tying Provision to Curb Financial Risk
... applies antitrustprinciples to bank sales and lending practices. Under antitrust law, a seller cannot condition the availability of one item (the desired product) on the consumer's purchase of another item (the tied product). Similarly, the Anti-Tying Provision limits when banks can condition the av ...
... applies antitrustprinciples to bank sales and lending practices. Under antitrust law, a seller cannot condition the availability of one item (the desired product) on the consumer's purchase of another item (the tied product). Similarly, the Anti-Tying Provision limits when banks can condition the av ...
Land banking
Land banking is the practice of aggregating parcels of land for future sale or development.While in many countries land banking may refer to various private real-estate investment schemes, in the United States it refers to the establishment of quasi-governmental county or municipal authorities purposed with managing an inventory of surplus land.