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TF Vanguard Small-Cap Index Fund
... other than the Transamerica Stable Value investment choice(s), is subject to market risk. Principal value and investment return will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than the original investment. Current performance may be lower or higher than the per ...
... other than the Transamerica Stable Value investment choice(s), is subject to market risk. Principal value and investment return will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than the original investment. Current performance may be lower or higher than the per ...
CAPM with Various Utility Functions: Theoretical Developments and
... The traditional version of the CAPM of Sharpe (1964) and Linter (1965) assumes that assets ’ returns are a linear function of their equivalent systematic risk measured by β, the slope from the regression of securities ’ returns on the market risk premium. The CAPM relies on several restrictive and n ...
... The traditional version of the CAPM of Sharpe (1964) and Linter (1965) assumes that assets ’ returns are a linear function of their equivalent systematic risk measured by β, the slope from the regression of securities ’ returns on the market risk premium. The CAPM relies on several restrictive and n ...
PwC`s Inform | UK | Accounting and auditing research at your fingertips
... such arrangements or portions thereof are in the scope of the revenue standard. A transaction that might be outside the scope of the revenue standard is one with a collaborator or partner that shares risk in developing a product and that is not for the sale of goods or services that are an output of ...
... such arrangements or portions thereof are in the scope of the revenue standard. A transaction that might be outside the scope of the revenue standard is one with a collaborator or partner that shares risk in developing a product and that is not for the sale of goods or services that are an output of ...
Equilibrium Pricing and Trading Volume under Preference
... preferences, information sets and demands is deterministic, and so is the equilibrium price.5 Unconstrained efficiency would require that low-valuation traders sell to high-valuation traders. However, such asset reallocation is delayed by preference uncertainty. Some traders hold more shares than th ...
... preferences, information sets and demands is deterministic, and so is the equilibrium price.5 Unconstrained efficiency would require that low-valuation traders sell to high-valuation traders. However, such asset reallocation is delayed by preference uncertainty. Some traders hold more shares than th ...
Funding Constraints, Market Liquidity, and Financial Crises
... Era.” Most states adopted laws that allowed individuals to start banks. The banking system grew dramatically over this period and helped spur economic growth. Savings banks, insurance companies and short-term credit market also developed during the antebellum period. An active market for commercial ...
... Era.” Most states adopted laws that allowed individuals to start banks. The banking system grew dramatically over this period and helped spur economic growth. Savings banks, insurance companies and short-term credit market also developed during the antebellum period. An active market for commercial ...
Liquidity Provision, Information, and Inventory - cfr
... actualize this competitive advantage. Further, financial institutional traders use order revisions to mitigate the incremental execution costs on earnings announcements days, when information uncertainty and the value of private information are high. Bloomfield et al. (2005) show that, in an experi ...
... actualize this competitive advantage. Further, financial institutional traders use order revisions to mitigate the incremental execution costs on earnings announcements days, when information uncertainty and the value of private information are high. Bloomfield et al. (2005) show that, in an experi ...
Dynamic Correlation or Tail Dependence Hedging for Portfolio
... From a modeling perspective, our paper is inspired by the large literature on modeling asset comovements. Popular choices for the time-varying correlation phenomenon are multivariate GARCH models (e.g. Bollerslev et al. (1988) or the principal component GARCH of Alexander (2002)), the parsimonious ...
... From a modeling perspective, our paper is inspired by the large literature on modeling asset comovements. Popular choices for the time-varying correlation phenomenon are multivariate GARCH models (e.g. Bollerslev et al. (1988) or the principal component GARCH of Alexander (2002)), the parsimonious ...
Using Prediction Markets to Track Information Flows
... sharing information with might be more so. These results contribute to three quite different literatures: on the role of optimism in entrepreneurial firms, on employee communication in organizations, and on social networks and information flows among investors. De Meza and Southey (1996) argue ...
... sharing information with might be more so. These results contribute to three quite different literatures: on the role of optimism in entrepreneurial firms, on employee communication in organizations, and on social networks and information flows among investors. De Meza and Southey (1996) argue ...
The High-Volume Return Premium - North American Business Press
... than average volume stocks, that is to investigate whether the high-volume return premium phenomenon is prevalent in Australian stock market. Motivated by Gervai, Kaniel, and Mingelgrin (2001), portfolio of stocks are formed according to their trading volume. There are two different portfolio strate ...
... than average volume stocks, that is to investigate whether the high-volume return premium phenomenon is prevalent in Australian stock market. Motivated by Gervai, Kaniel, and Mingelgrin (2001), portfolio of stocks are formed according to their trading volume. There are two different portfolio strate ...
Tanguy Dehapiot
... DVA does not belong to the entity but is an asset of the shareholders (the limited liability guarantee is a put option). The entity is compensated for the CVA cost at deal inception, so initial P&L is zero and both counterparties agree the price. The entity has implicitly made a capital distri ...
... DVA does not belong to the entity but is an asset of the shareholders (the limited liability guarantee is a put option). The entity is compensated for the CVA cost at deal inception, so initial P&L is zero and both counterparties agree the price. The entity has implicitly made a capital distri ...
Speculative Investors and Tobin`s Tax
... are sought later by homebuyers as well as by investors 4 (The Appendix provides additional details of the residential market background in Singapore). The presale market is more attractive to short-term speculators than the spot market for completed properties because a presale contract has a lower ...
... are sought later by homebuyers as well as by investors 4 (The Appendix provides additional details of the residential market background in Singapore). The presale market is more attractive to short-term speculators than the spot market for completed properties because a presale contract has a lower ...
Are Funds of Funds Simply Multi-Strategy
... invested in all of the strategies in the CSFB Hedge Fund Index. For modeling purposes, we assumed that the hypothetical manager allocated capital across strategies in the same proportions as the index. Since the CSFB index is weighted to reflect market allocations of capital in various hedge fund st ...
... invested in all of the strategies in the CSFB Hedge Fund Index. For modeling purposes, we assumed that the hypothetical manager allocated capital across strategies in the same proportions as the index. Since the CSFB index is weighted to reflect market allocations of capital in various hedge fund st ...
RTF format
... delivered the issue was whether the buyer was entitled by way of damages for non-delivery to the difference between the contract price and the highest price at which the property could have been sold between the date of the contract and the date on which it was cancelled. It is with this in mind tha ...
... delivered the issue was whether the buyer was entitled by way of damages for non-delivery to the difference between the contract price and the highest price at which the property could have been sold between the date of the contract and the date on which it was cancelled. It is with this in mind tha ...
Can Risks Be Reduced in the Derivatives Market
... system of fixed currency rates. During this period, the financial markets also faced an increase in the volatility of interest rates, resulting from governmental policy changes that permitted interest rates to fluctuate more freely. With the increased volatility in both the exchange and interest rat ...
... system of fixed currency rates. During this period, the financial markets also faced an increase in the volatility of interest rates, resulting from governmental policy changes that permitted interest rates to fluctuate more freely. With the increased volatility in both the exchange and interest rat ...
Desirable Properties of an Ideal Risk Measure in
... Note that a positive return almost always follows a loss. The wavy behavior of returns also has a propagation effect on the other markets. This can be seen in Figure 3 which describes the DAX 30 daily return series (valued in US dollars) during the same period as the S&P 500 series. When we observe ...
... Note that a positive return almost always follows a loss. The wavy behavior of returns also has a propagation effect on the other markets. This can be seen in Figure 3 which describes the DAX 30 daily return series (valued in US dollars) during the same period as the S&P 500 series. When we observe ...
Liquidity Management Policy Summary
... within, or reasonably close to, 30 days or where conversion to cash over that period, by itself, would have a significant adverse impact on its realisable value. Liquidity risk for the Fund is the risk that the Fund is unable to meet its financial obligation to beneficiaries as they fall due, either ...
... within, or reasonably close to, 30 days or where conversion to cash over that period, by itself, would have a significant adverse impact on its realisable value. Liquidity risk for the Fund is the risk that the Fund is unable to meet its financial obligation to beneficiaries as they fall due, either ...
Joint Dynamics of Bond and Stock Returns - Wisconsin-School
... correlations between assets that have independent cash flows, such as default-free long-term real bonds and stocks, often change signs. This variation in correlations is likely to manifest in the assets’ risk premia. However, the sources of risk premia and time-variation in correlations in financial ...
... correlations between assets that have independent cash flows, such as default-free long-term real bonds and stocks, often change signs. This variation in correlations is likely to manifest in the assets’ risk premia. However, the sources of risk premia and time-variation in correlations in financial ...
Prestigious Stock Exchanges - Federal Reserve Bank of New York
... marginals will be (trivially) sufficient for assessing global dominance. The exercise, however, is significantly more difficult as the matrix flows become even slightly more complex. Imagine, for instance, the case of two markets with significantly higher column marginals than any other market and, ...
... marginals will be (trivially) sufficient for assessing global dominance. The exercise, however, is significantly more difficult as the matrix flows become even slightly more complex. Imagine, for instance, the case of two markets with significantly higher column marginals than any other market and, ...
Demutualization Risks and Credit Unions
... “although the existing mutual structure of IOOF had served the group well, IOOF is now beginning a new phase of its corporate lifecycle.” 70,000 members. Fixed entitlement of 140 shares plus additional variable allocation of shares according to a formula based on the type, number, size and duration ...
... “although the existing mutual structure of IOOF had served the group well, IOOF is now beginning a new phase of its corporate lifecycle.” 70,000 members. Fixed entitlement of 140 shares plus additional variable allocation of shares according to a formula based on the type, number, size and duration ...