Statement on Standards for Valuation Services
... methods and does not use professional judgment. See Interpretation No. 1, illustration 8 (VS sec. 9100 par. .20–.23). This statement is not applicable when it is not practical or not reasonable to obtain or use relevant information; as a result, the member is unable to apply valuation approaches and ...
... methods and does not use professional judgment. See Interpretation No. 1, illustration 8 (VS sec. 9100 par. .20–.23). This statement is not applicable when it is not practical or not reasonable to obtain or use relevant information; as a result, the member is unable to apply valuation approaches and ...
Long-Short Commodity Investing - EDHEC
... and their conditional correlations with traditional assets. Indeed, the strategic decision to include commodity futures in a well-diversified portfolio does not solely depend on the risk premium of commodity futures viewed as an asset class but is also driven by a desire for risk diversification and ...
... and their conditional correlations with traditional assets. Indeed, the strategic decision to include commodity futures in a well-diversified portfolio does not solely depend on the risk premium of commodity futures viewed as an asset class but is also driven by a desire for risk diversification and ...
The Usefulness of Derivative Disclosures by Chinese Listed
... found: First, the level of the compliance with IFRS and lAS derivative regulations by Chinese quoted companies is generally low. Second, Chinese listed companies are likely to prefer the use of equity derivative products rather than other types of derivatives. Third, the corporate size seems not to ...
... found: First, the level of the compliance with IFRS and lAS derivative regulations by Chinese quoted companies is generally low. Second, Chinese listed companies are likely to prefer the use of equity derivative products rather than other types of derivatives. Third, the corporate size seems not to ...
Deutsche AM Flagship Fund Reporting
... When the custodian sets the price on the last trading day of the month there can be a difference of up to ten hours between the times at which the fund price and the benchmark are calculated. In the event of strong market movements during this period, this may result in the over- or understatement o ...
... When the custodian sets the price on the last trading day of the month there can be a difference of up to ten hours between the times at which the fund price and the benchmark are calculated. In the event of strong market movements during this period, this may result in the over- or understatement o ...
Idiosyncratic Risk and the Cross-Section of Stock Returns Ren´
... (1987) and Malkiel and Xu (2002) pricing models relate stock returns to their beta with the market and their beta to market-wide measures of idiosyncratic risk. In these models, an important portion of investors’ portfolios may differ from the market. Their holdings may be affected by corporate comp ...
... (1987) and Malkiel and Xu (2002) pricing models relate stock returns to their beta with the market and their beta to market-wide measures of idiosyncratic risk. In these models, an important portion of investors’ portfolios may differ from the market. Their holdings may be affected by corporate comp ...
Index Methodology Template w_Cover
... figures, except United States of America, Canada, the United Kingdom and Ireland where average number of shares is used for per share calculations of earnings, cash earnings, and sales as is the standard practice in these countries. For companies where MSCI tracks their Depository Receipts (ADR, GDR ...
... figures, except United States of America, Canada, the United Kingdom and Ireland where average number of shares is used for per share calculations of earnings, cash earnings, and sales as is the standard practice in these countries. For companies where MSCI tracks their Depository Receipts (ADR, GDR ...
Horizons US 7-10 Year Treasury Bond CAD
... It was another noteworthy year in 2016 for both Horizons ETFs Management (Canada) Inc. (“Horizons ETFs”) and the Canadian ETF industry. The industry surpassed $100 billion in assets under management (“AUM”) with now more than 400 ETF listings. Meanwhile, our AUM surpassed $7.0 billion and we launche ...
... It was another noteworthy year in 2016 for both Horizons ETFs Management (Canada) Inc. (“Horizons ETFs”) and the Canadian ETF industry. The industry surpassed $100 billion in assets under management (“AUM”) with now more than 400 ETF listings. Meanwhile, our AUM surpassed $7.0 billion and we launche ...
chapter 1 - Test Bank wizard
... Which of the following is NOT a potential problem when estimating and using betas, i.e., which statement is FALSE? a. Sometimes, during a period when the company is undergoing a change such as toward more leverage or riskier assets, the calculated beta will be drastically different from the "true" o ...
... Which of the following is NOT a potential problem when estimating and using betas, i.e., which statement is FALSE? a. Sometimes, during a period when the company is undergoing a change such as toward more leverage or riskier assets, the calculated beta will be drastically different from the "true" o ...
Geographic dispersion and stock returns
... firms from low density states by 58 basis points. Second, we measure the capital imbalance using the difference between mutual fund capital and listed firm market capitalization in a 100 km diameter circle around the headquarters of the local firm. With this measure, the return on an equally weighted p ...
... firms from low density states by 58 basis points. Second, we measure the capital imbalance using the difference between mutual fund capital and listed firm market capitalization in a 100 km diameter circle around the headquarters of the local firm. With this measure, the return on an equally weighted p ...
Impact of Yen on Japanese Stocks
... We computed the yen sensitivities for the respective stocks separately for each of the eight time periods. We then compared their values for periods of rising yen to adjacent periods in which the yen weakened. The average yen sensitivities are shown in Exhibit 7 below. First focusing on the top se ...
... We computed the yen sensitivities for the respective stocks separately for each of the eight time periods. We then compared their values for periods of rising yen to adjacent periods in which the yen weakened. The average yen sensitivities are shown in Exhibit 7 below. First focusing on the top se ...
issue price: 101%
... recommendation by the Issuer to enter into any transaction with respect to the Securities. Each prospective investor contemplating a purchase of the Securities should make its own independent investigation of the risks associated with a transaction involving the Securities. An investment in the Secu ...
... recommendation by the Issuer to enter into any transaction with respect to the Securities. Each prospective investor contemplating a purchase of the Securities should make its own independent investigation of the risks associated with a transaction involving the Securities. An investment in the Secu ...
INSURANCE CODE TITLE 4. REGULATION OF SOLVENCY
... subject to this section, an insurer may invest the insurer's funds in excess of minimum capital and surplus in a foreign commonwealth, territory, or possession of the United States or a foreign country other than Canada, or invest in debt obligations and investments within a foreign commonwealth, te ...
... subject to this section, an insurer may invest the insurer's funds in excess of minimum capital and surplus in a foreign commonwealth, territory, or possession of the United States or a foreign country other than Canada, or invest in debt obligations and investments within a foreign commonwealth, te ...
STEP - Merrill Lynch
... securities. The notes are not guaranteed or insured by the Canada Deposit Insurance Corporation or the FDIC, and are not, either directly or indirectly, an obligation of any third party. The notes w ill rank equally with all of our other unsecured senior debt. Any payments due on the notes, includin ...
... securities. The notes are not guaranteed or insured by the Canada Deposit Insurance Corporation or the FDIC, and are not, either directly or indirectly, an obligation of any third party. The notes w ill rank equally with all of our other unsecured senior debt. Any payments due on the notes, includin ...
measuring and rewarding performance: theory and evidence
... on agency problems between managers and shareholders, section 4 reviews the small body of work examining the link between executive compensation plan design and capital structure. Consistent with our focus on performance measurement, section 5 reviews the properties of a range of performance metrics ...
... on agency problems between managers and shareholders, section 4 reviews the small body of work examining the link between executive compensation plan design and capital structure. Consistent with our focus on performance measurement, section 5 reviews the properties of a range of performance metrics ...
Expiration Day Effects of the EURO STOXX 50 Index Futures and
... Table 2: Marketplaces of instruments using the EURO STOXX 50 index as underlying ............................ 34 Table 3: EURO STOXX 50 index futures and options characteristics .......................................................... 36 Table 4: Summary of hypotheses ............................. ...
... Table 2: Marketplaces of instruments using the EURO STOXX 50 index as underlying ............................ 34 Table 3: EURO STOXX 50 index futures and options characteristics .......................................................... 36 Table 4: Summary of hypotheses ............................. ...
Managerial Risk-Taking and CEO Excess Compensation
... the firm (Guay, 1999; HabibandLjungqvist, 2005).The negative effect of higher delta and vegais that they expose CEOs to incentive risk. CEOs are less diversified with respect to firm-specific wealth than are diversified shareholders because stocks and optionsreceived by CEOs as part of their compens ...
... the firm (Guay, 1999; HabibandLjungqvist, 2005).The negative effect of higher delta and vegais that they expose CEOs to incentive risk. CEOs are less diversified with respect to firm-specific wealth than are diversified shareholders because stocks and optionsreceived by CEOs as part of their compens ...
NBER WORKING PAPER SERIES INTERNATIONAL CONSUMPTION RISK IS SHARED AFTER ALL:
... Further, to ensure that our risk-sharing results do not arise from ...
... Further, to ensure that our risk-sharing results do not arise from ...
How Do Mergers Create Value? A Comparison of Taxes, Market
... from the Federal Trade Commission. However, Healy, Palepu, and Ruback (1992) and Heron and Lie (2002) rely on ex post accounting performance and find that operating performance improves after a merger. Healy, Palepu, and Ruback (1992) also find that the gains arise from improvements in asset turnover ...
... from the Federal Trade Commission. However, Healy, Palepu, and Ruback (1992) and Heron and Lie (2002) rely on ex post accounting performance and find that operating performance improves after a merger. Healy, Palepu, and Ruback (1992) also find that the gains arise from improvements in asset turnover ...