New Activist Weapon-- The Rise of Delaware Appraisal
... to appraisal rights had not occurred (that is, excluding the value of synergies and a control premium). The trial usually involves a “battle of the experts” on both sides, with the burden ultimately on the court itself to make the determination of fair value, based on any methodology generally consi ...
... to appraisal rights had not occurred (that is, excluding the value of synergies and a control premium). The trial usually involves a “battle of the experts” on both sides, with the burden ultimately on the court itself to make the determination of fair value, based on any methodology generally consi ...
Unit Pricing Discretion Policy
... The frequency with which Funds distribute their income and realised capital gains in most circumstances is set out in the fund’s PDS. However, BTIM may exercise its discretion to vary this frequency, based on the amount and timing of taxable income and capital gains within the Fund and other factors ...
... The frequency with which Funds distribute their income and realised capital gains in most circumstances is set out in the fund’s PDS. However, BTIM may exercise its discretion to vary this frequency, based on the amount and timing of taxable income and capital gains within the Fund and other factors ...
Investor Sentiment and Beta Pricing
... variants of this simple version. For example, Jagannathan and Wang (1996) argue that when returns to labor income are included in the total return on the market portfolio, a conditional CAPM (where betas vary with business cycles) works well in describing the data. The consumption CAPM (where expect ...
... variants of this simple version. For example, Jagannathan and Wang (1996) argue that when returns to labor income are included in the total return on the market portfolio, a conditional CAPM (where betas vary with business cycles) works well in describing the data. The consumption CAPM (where expect ...
Dreyfus Variable Investment Fund: International Value Portfolio
... invests principally in common stocks, but its stock investments also may include preferred stocks and convertible securities, including those purchased in initial public offerings (IPOs) or shortly thereafter. The fund's investment approach is value oriented and research driven. In selecting stocks, ...
... invests principally in common stocks, but its stock investments also may include preferred stocks and convertible securities, including those purchased in initial public offerings (IPOs) or shortly thereafter. The fund's investment approach is value oriented and research driven. In selecting stocks, ...
Draft: May 30, 2004 preliminary & incomplete
... standard, concave, twice-continuously differentiable utility function. The function v(.) is the time preference function, which is also concave and twice-continuously differentiable. The argument of both functions is a composite good defined by consumption minus the disutility of labor c-h(n), where ...
... standard, concave, twice-continuously differentiable utility function. The function v(.) is the time preference function, which is also concave and twice-continuously differentiable. The argument of both functions is a composite good defined by consumption minus the disutility of labor c-h(n), where ...
The effect of capital market characteristics on the value
... contracts or the inefficiencies arising from an imbalance of ownership shares. Rather, they focus on search inefficiencies, using an insight from the search literature that entry creates externalities for the matching chances of other market participants. The rest of the paper is organized as follows. ...
... contracts or the inefficiencies arising from an imbalance of ownership shares. Rather, they focus on search inefficiencies, using an insight from the search literature that entry creates externalities for the matching chances of other market participants. The rest of the paper is organized as follows. ...
Capital Account Liberalization, Institutions and Financial Development:
... 1900 on the liquid liabilities measures. When the specification involves five year growth rates, the number of observations is so small that we are unable to obtain any interesting results for this particular aspect of financial development, even though long term financing through bonds is likely to ...
... 1900 on the liquid liabilities measures. When the specification involves five year growth rates, the number of observations is so small that we are unable to obtain any interesting results for this particular aspect of financial development, even though long term financing through bonds is likely to ...
Does Dividend Policy Enhance Shareholder Value?
... management regarding predicted earnings, while a share repurchase contains private information regarding current valuation. As a result, investors can glean new information from dividend policy changes, and the share price responds accordingly. On the other hand, under the cash flow hypothesis, both ...
... management regarding predicted earnings, while a share repurchase contains private information regarding current valuation. As a result, investors can glean new information from dividend policy changes, and the share price responds accordingly. On the other hand, under the cash flow hypothesis, both ...
2012 FINANCIAL REPORT TO SHAREHOLDERS
... during the period. The weighted average number of shares on issue has been calculated in accordance with Accounting Standard AASB 133 Earnings per Share 14 The current year figure represents the dividend value given the shares on issue as at reporting date. This figure will change if there are any ...
... during the period. The weighted average number of shares on issue has been calculated in accordance with Accounting Standard AASB 133 Earnings per Share 14 The current year figure represents the dividend value given the shares on issue as at reporting date. This figure will change if there are any ...
DOC - Valhi, Inc.
... interim periods ended June 30, 1999 and 2000, have been prepared by the Company, without audit. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the consolidated financial position, results of operations and cash flows have b ...
... interim periods ended June 30, 1999 and 2000, have been prepared by the Company, without audit. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the consolidated financial position, results of operations and cash flows have b ...
FREE Sample Here - Find the cheapest test bank for your
... Which of the following statements is CORRECT? a. Back before the SEC was created in the 1930s, companies would declare reverse splits in order to boost their stock prices. However, this was determined to be a deceptive practice, and it is illegal today. b. Stock splits create more administrative pro ...
... Which of the following statements is CORRECT? a. Back before the SEC was created in the 1930s, companies would declare reverse splits in order to boost their stock prices. However, this was determined to be a deceptive practice, and it is illegal today. b. Stock splits create more administrative pro ...
How to account for interdependence of risk in …nancial markets?
... The current economic recession has drawn the attention of many to the fragility of the …nancial system. The most common measure of risk used by …nancial institutions, the Value-at-Risk (VaR), has been seriously put under attack both by regulators as well as …nancial analysts. For a given portfolio, ...
... The current economic recession has drawn the attention of many to the fragility of the …nancial system. The most common measure of risk used by …nancial institutions, the Value-at-Risk (VaR), has been seriously put under attack both by regulators as well as …nancial analysts. For a given portfolio, ...
Calculating the Equity Risk Premium and the Risk
... Consistency between the ERP and the risk-free rate One basic issue in the choice of the bond duration is the need for consistency between the choice of ERP and the risk-free rate. The ERP is a premium over some bond – usually either a long-term or a short-term bond. 8 As we see from the yield-curve ...
... Consistency between the ERP and the risk-free rate One basic issue in the choice of the bond duration is the need for consistency between the choice of ERP and the risk-free rate. The ERP is a premium over some bond – usually either a long-term or a short-term bond. 8 As we see from the yield-curve ...
Download paper (PDF)
... research is on product bundling—the strategy of selling two or more products in a package at a discount (Stremersch and Tellis 2002). Bundling is similar to cross-market discounting in that both strategies provide a lower total price when two goods are jointly purchased. However, they differ in seve ...
... research is on product bundling—the strategy of selling two or more products in a package at a discount (Stremersch and Tellis 2002). Bundling is similar to cross-market discounting in that both strategies provide a lower total price when two goods are jointly purchased. However, they differ in seve ...
Armour Residential REIT, Inc.
... reporting period. Actual results could differ from those estimates. Significant estimates affecting the accompanying financial statements include the valuation of Agency Securities and interest rate contracts. Cash Cash includes cash on deposit with financial institutions and investments in high qua ...
... reporting period. Actual results could differ from those estimates. Significant estimates affecting the accompanying financial statements include the valuation of Agency Securities and interest rate contracts. Cash Cash includes cash on deposit with financial institutions and investments in high qua ...
Financial Results for the year ended 30 June 2014
... Trading update and outlook for FY15 FY15 YTD revenue growth broad based with all major properties delivering revenue growth at levels consistent with 2H FY14, as the momentum built in 2H FY14 carries forward into the new financial year. Expenses continue to be in line with expectations for FY15 YTD ...
... Trading update and outlook for FY15 FY15 YTD revenue growth broad based with all major properties delivering revenue growth at levels consistent with 2H FY14, as the momentum built in 2H FY14 carries forward into the new financial year. Expenses continue to be in line with expectations for FY15 YTD ...
Market structures and systemic risks of exchange
... that promise to meet investors’ return expectations as market conditions and global risk appetite change. For example, in the low global interest rate environment in 2002–03, structured credit products were marketed to gear up investment returns for institutional investors as the value of their liab ...
... that promise to meet investors’ return expectations as market conditions and global risk appetite change. For example, in the low global interest rate environment in 2002–03, structured credit products were marketed to gear up investment returns for institutional investors as the value of their liab ...
Coherent Measures of Risk
... We use the representation results to suggest a specific coherent measure (Section 5.1) called tail conditional expectation, as well as to give an example of construction of a coherent measure out of measures on separate classes of risks, for example credit risk and market risk (Section 5.2). Our axi ...
... We use the representation results to suggest a specific coherent measure (Section 5.1) called tail conditional expectation, as well as to give an example of construction of a coherent measure out of measures on separate classes of risks, for example credit risk and market risk (Section 5.2). Our axi ...
Janus Research Fund - Proxy
... circumstances. However, under unusual circumstances, if the Research Team does not have high conviction in enough investment opportunities, the Fund’s uninvested assets may be held in cash or similar instruments. The Fund may lend portfolio securities on a short-term or long-term basis, in an amount ...
... circumstances. However, under unusual circumstances, if the Research Team does not have high conviction in enough investment opportunities, the Fund’s uninvested assets may be held in cash or similar instruments. The Fund may lend portfolio securities on a short-term or long-term basis, in an amount ...