Chapter 14
... attractive way of financing new investment. Consequently, the payout ratio might be expected to decline. On the other hand, higher interest rates would cause rd, rs, and firms’ MCCs to rise—that would mean that fewer projects would qualify for capital budgeting and the residual would increase (other ...
... attractive way of financing new investment. Consequently, the payout ratio might be expected to decline. On the other hand, higher interest rates would cause rd, rs, and firms’ MCCs to rise—that would mean that fewer projects would qualify for capital budgeting and the residual would increase (other ...
DOC - Investor Relations
... Reinstatement premiums that reinstate coverage are estimated based on loss experience and are recorded in accordance with the contract terms based upon the ultimate loss estimate associated with each contract. Reinstatement premiums are generally written and earned at the time the associated loss ev ...
... Reinstatement premiums that reinstate coverage are estimated based on loss experience and are recorded in accordance with the contract terms based upon the ultimate loss estimate associated with each contract. Reinstatement premiums are generally written and earned at the time the associated loss ev ...
Two and Twenty - New York University Law Review
... 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 twenty percent profits interest). By taking a portion of their pay in the form of part ...
... 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 twenty percent profits interest). By taking a portion of their pay in the form of part ...
ING Property Trust
... The past 12 months have seen considerable activity for the ING Property Trust. The Trust began the financial year as Paramount Property Trust, with a small portfolio comprising two assets (the GE Capital Building and Ericsson House), but with the stated intention of growing this asset base. Consider ...
... The past 12 months have seen considerable activity for the ING Property Trust. The Trust began the financial year as Paramount Property Trust, with a small portfolio comprising two assets (the GE Capital Building and Ericsson House), but with the stated intention of growing this asset base. Consider ...
Table of Contents - Land O`Lakes Inc.
... Land O’Lakes, Inc. (“Land O’Lakes” or the “Company”) is a diversified member-owned food and agricultural cooperative serving agricultural producers throughout the United States. Land O’Lakes manages its business through its three segments: Dairy Foods, Feed and Crop Inputs. Through the Dairy Foods s ...
... Land O’Lakes, Inc. (“Land O’Lakes” or the “Company”) is a diversified member-owned food and agricultural cooperative serving agricultural producers throughout the United States. Land O’Lakes manages its business through its three segments: Dairy Foods, Feed and Crop Inputs. Through the Dairy Foods s ...
Introducing Expected Returns into Risk Parity
... policy. It relates to the portfolio of equities, bonds and alternative assets that the investor wishes to hold over a long period (typically 10 to 30 years). Risk parity portfolios based on the volatility risk measure define well-diversified strategic portfolios. The use of a standard deviation-base ...
... policy. It relates to the portfolio of equities, bonds and alternative assets that the investor wishes to hold over a long period (typically 10 to 30 years). Risk parity portfolios based on the volatility risk measure define well-diversified strategic portfolios. The use of a standard deviation-base ...
US dividends for the long term
... have been in sharp focus in recent years as investors have sought alternatives to low-yielding fixed income instruments. Now that investors have become more comfortable with the equity market overall, we believe it still makes sense to think about dividend-paying stocks as an anchor for their overal ...
... have been in sharp focus in recent years as investors have sought alternatives to low-yielding fixed income instruments. Now that investors have become more comfortable with the equity market overall, we believe it still makes sense to think about dividend-paying stocks as an anchor for their overal ...
Asian Investment Grade USD Bonds an Under Appreciated Asset
... Returns and volatility are major drivers of the asset allocation decisions, but there is one more key piece of information involved – namely correlation. Correlation measures how each type of investment moves in relation to other investments in a portfolio and is the key attribute that defines the b ...
... Returns and volatility are major drivers of the asset allocation decisions, but there is one more key piece of information involved – namely correlation. Correlation measures how each type of investment moves in relation to other investments in a portfolio and is the key attribute that defines the b ...
Regulatory_risk_and_Foreign_Direct_Investment_in_Infrastructure
... or dominant position of the new private operators. Regarding to investors, the need for that protection arises because, as we said, investments in infrastructure are sunk costs. These high sunk costs may tempt governments to act opportunistically, taking regulatory actions that expropriate the avai ...
... or dominant position of the new private operators. Regarding to investors, the need for that protection arises because, as we said, investments in infrastructure are sunk costs. These high sunk costs may tempt governments to act opportunistically, taking regulatory actions that expropriate the avai ...
Financial Competence, Overconfidence, and Trusting
... courts). Often, though, the formal institutions are incomplete. In the developing world they may be sufficiently unreliable. On a trading floor, for another example, initial oral agreements are struck, but unenforceable by a third-party, until formalized. Additionally, the transaction costs of the f ...
... courts). Often, though, the formal institutions are incomplete. In the developing world they may be sufficiently unreliable. On a trading floor, for another example, initial oral agreements are struck, but unenforceable by a third-party, until formalized. Additionally, the transaction costs of the f ...
Investment Efficiency and the Welfare Gain from
... The welfare gain from financial integration generally refers to the gain associated with moving from financial autarky to financial openness. Calculating this gain in this model involves making two assumptions. First, that the initial stock of debt at the t ...
... The welfare gain from financial integration generally refers to the gain associated with moving from financial autarky to financial openness. Calculating this gain in this model involves making two assumptions. First, that the initial stock of debt at the t ...
Practice Test for Chapters 4 and 5
... 20) Indicate whether each of the following statements is true or false. __T__a. The FIFO cost flow method assumes that the items purchased first would be assigned to cost of goods sold first. __F__ b. The LIFO inventory flow method assumes that items purchased last should stay in the ending inventor ...
... 20) Indicate whether each of the following statements is true or false. __T__a. The FIFO cost flow method assumes that the items purchased first would be assigned to cost of goods sold first. __F__ b. The LIFO inventory flow method assumes that items purchased last should stay in the ending inventor ...
original article in English
... These shadow banking activities have not only aggravated the indebtedness of the corporate sector but also increased the leverage of the entire financial sector and made it more vulnerable to any potential external shocks. Given that the bulk of these activities are not reflected on financial instit ...
... These shadow banking activities have not only aggravated the indebtedness of the corporate sector but also increased the leverage of the entire financial sector and made it more vulnerable to any potential external shocks. Given that the bulk of these activities are not reflected on financial instit ...
FIN 331 in a Nutshell
... “A positive net income on the income statement is ultimately insignificant unless a company can translate its earnings into cash, and the only source in financial statement data for learning about the generation of cash from operations is the statement of cash ...
... “A positive net income on the income statement is ultimately insignificant unless a company can translate its earnings into cash, and the only source in financial statement data for learning about the generation of cash from operations is the statement of cash ...
a cash flow forecast
... 2.2 what to include in a cash flow forecast A cash flow forecast is prepared to show the expected receipts, and payments of cash during a budget period. Profit v cash flow Not all cash flow receipts affect income statement income. Not all cash payment affect income statement expenditure Some costs ...
... 2.2 what to include in a cash flow forecast A cash flow forecast is prepared to show the expected receipts, and payments of cash during a budget period. Profit v cash flow Not all cash flow receipts affect income statement income. Not all cash payment affect income statement expenditure Some costs ...
econstor
... of optimal capital structure that incorporates changing macroeconomic conditions through the firm’s cash flow channel. Our model is parsimonious but at the same time realistic and allows for a wide range of analysis. We show that optimal leverage and its benefits vary pro-cyclically, and a reduction ...
... of optimal capital structure that incorporates changing macroeconomic conditions through the firm’s cash flow channel. Our model is parsimonious but at the same time realistic and allows for a wide range of analysis. We show that optimal leverage and its benefits vary pro-cyclically, and a reduction ...
Jeffrey This N. Cooper
... path. Will the path result from decentralized market forces, with direct private—sector access to foreign capital? Or does the path require active government intervention in the borrowing process? In sum, in addition to studying the correct path for borrowing, we must ask how that path may in fact b ...
... path. Will the path result from decentralized market forces, with direct private—sector access to foreign capital? Or does the path require active government intervention in the borrowing process? In sum, in addition to studying the correct path for borrowing, we must ask how that path may in fact b ...
Investigating Stock Market Indices of India - Empirical Analysis
... 1999 to 2002 and found that they failed to generate any excess returns over three month T-bill. Also, return and risk of Islamic index was found to be less than Wilshire 5000. Thereafter, Hussein (2005) found that Financial Time Stock Exchange (FTSE) Global Islamic index and Dow Jones Islamic Market ...
... 1999 to 2002 and found that they failed to generate any excess returns over three month T-bill. Also, return and risk of Islamic index was found to be less than Wilshire 5000. Thereafter, Hussein (2005) found that Financial Time Stock Exchange (FTSE) Global Islamic index and Dow Jones Islamic Market ...
The German current account — Actionism is inappropiate
... economy. In the period from 1996 to 1999, net acquisition of non-financial assets still stood at around 6.5% of nominal GDP. For the period 2010-2013, it was only 1.8%. The government scarcely contributed to this development; the already low net investment rate fell from 0.1% to 0%. Net investment o ...
... economy. In the period from 1996 to 1999, net acquisition of non-financial assets still stood at around 6.5% of nominal GDP. For the period 2010-2013, it was only 1.8%. The government scarcely contributed to this development; the already low net investment rate fell from 0.1% to 0%. Net investment o ...
Bubbles and Crises - University of Pennsylvania
... bursts and the stock and real estate markets collapse. In many cases banks and other intermediaries were overexposed to the equity and real estate markets and about a year later on average a banking crisis ensues. This is often accompanied by an exchange rate crisis as governments choose between low ...
... bursts and the stock and real estate markets collapse. In many cases banks and other intermediaries were overexposed to the equity and real estate markets and about a year later on average a banking crisis ensues. This is often accompanied by an exchange rate crisis as governments choose between low ...
NBER WORKING PAPER SERIES George M. Constantinides
... each period is taken to represent 20 years. By restricting our attention to an exchange setting, we focus on the purely re-distributive effects. That is, we assume that the technological or other mechanisms that give rise to the yearly aggregate income process of the United States economy are invari ...
... each period is taken to represent 20 years. By restricting our attention to an exchange setting, we focus on the purely re-distributive effects. That is, we assume that the technological or other mechanisms that give rise to the yearly aggregate income process of the United States economy are invari ...
Regional Seminar on Costs and Tariffs for
... services seamlessly over single or multiple infrastructures and platforms. Converging NGNs, and the overall global NGN, are being driven by digitization, packetization, high-speed transfer, and Internet Protocol (IP). ...
... services seamlessly over single or multiple infrastructures and platforms. Converging NGNs, and the overall global NGN, are being driven by digitization, packetization, high-speed transfer, and Internet Protocol (IP). ...
The Great Escape? A Quantitative Evaluation of the Fed`s Liquidity
... (2007). The model features nominal and real frictions, such as price and wage rigidities and aggregate capital adjustment costs. Conventional monetary policy is implemented via variations in the nominal interest rate according to a standard interest rate policy rule that is constrained by the zero b ...
... (2007). The model features nominal and real frictions, such as price and wage rigidities and aggregate capital adjustment costs. Conventional monetary policy is implemented via variations in the nominal interest rate according to a standard interest rate policy rule that is constrained by the zero b ...
Investment fund
An investment fund is a way of investing money alongside other investors in order to benefit from the inherent advantages of working as part of a group. These advantages include an ability to: hire professional investment managers, which may potentially be able to offer better returns and more adequate risk management; benefit from economies of scale, i.e., lower transaction costs; increase the asset diversification to reduce some unsystemic risk.Terminology varies with country but investment funds are often referred to as investment pools, collective investment vehicles, collective investment schemes, managed funds, or simply funds. An investment fund may be held by the public, such as a mutual fund, exchange-traded fund, or closed-end fund, or it may be sold only in a private placement, such as a hedge fund or private equity fund. The term also includes specialized vehicles such as collective and common trust funds, which are unique bank-managed funds structured primarily to commingle assets from qualifying pension plans or trusts.Investment funds are promoted with a wide range of investment aims either targeting specific geographic regions (e.g., emerging markets or Europe) or specified industry sectors (e.g., technology). Depending on the country there is normally a bias towards the domestic market due to familiarity, and the lack of currency risk. Funds are often selected on the basis of these specified investment aims, their past investment performance, and other factors such as fees.