The Value Relevance of Financial Institutions` Fair Value
... particular, are data in the SFAS 119 disclosures value-relevant in the sense that they are related to equity values? If the FASB’s detailed disclosure requirements for financial instruments are not value-relevant, there would be less motivation for other standard-setting bodies, such as the IASC, to ...
... particular, are data in the SFAS 119 disclosures value-relevant in the sense that they are related to equity values? If the FASB’s detailed disclosure requirements for financial instruments are not value-relevant, there would be less motivation for other standard-setting bodies, such as the IASC, to ...
Presidential Elections and the Stock Market:
... 17 Kyle (1984, 1985) and Admati and Pfleiderer (1988) use the normal distribution to characterize beliefs. 18 This occurs when the expected value of the parameters are not dependent on s. 19 Typical examples of multivariate elliptically contoured distributions are the multivariate t- distribution as ...
... 17 Kyle (1984, 1985) and Admati and Pfleiderer (1988) use the normal distribution to characterize beliefs. 18 This occurs when the expected value of the parameters are not dependent on s. 19 Typical examples of multivariate elliptically contoured distributions are the multivariate t- distribution as ...
can the earning-price ratio explain the cross
... into account that the CAPM is untestable per se– the mean-variance efficiency of the valueweighted stock market index for the period 1963–1982. Moreover, he finds size effect which is especially pronounced in January. Marhuenda (1997) also concludes that there is size effect in Spain using 1963-1991 ...
... into account that the CAPM is untestable per se– the mean-variance efficiency of the valueweighted stock market index for the period 1963–1982. Moreover, he finds size effect which is especially pronounced in January. Marhuenda (1997) also concludes that there is size effect in Spain using 1963-1991 ...
Capital structure and volatility of risk
... We construct two proxies for the volatility of volatility of each firm. One is based on expectations of outsiders about the future volatility of the firm as shown in the prices of the stock options of the firm and the second is based on the recent variation of realized asset volatility of the firm. ...
... We construct two proxies for the volatility of volatility of each firm. One is based on expectations of outsiders about the future volatility of the firm as shown in the prices of the stock options of the firm and the second is based on the recent variation of realized asset volatility of the firm. ...
The Effect of Futures Trading on the Underlying Volatility: Evidence
... The stock index futures contracts were, perhaps the most successful financial innovation of 1980’s. The first contract was the Chicago mercantile exchange S&P 500 futures, which begin trading in the US in April 1982. The futures contracts design spread to almost every financial futures market world ...
... The stock index futures contracts were, perhaps the most successful financial innovation of 1980’s. The first contract was the Chicago mercantile exchange S&P 500 futures, which begin trading in the US in April 1982. The futures contracts design spread to almost every financial futures market world ...
Judul - Binus Repository
... Copyright © 2005 John Wiley & Sons, Inc. All rights reserved. Reproduction or ranslation of this work beyond that permitted in Section 117 of the 1976 United States Copyright Act without the express written consent of the copyright owner is unlawful. Request for further information should be address ...
... Copyright © 2005 John Wiley & Sons, Inc. All rights reserved. Reproduction or ranslation of this work beyond that permitted in Section 117 of the 1976 United States Copyright Act without the express written consent of the copyright owner is unlawful. Request for further information should be address ...
Corporate Finance
... factor- risk premiums. Estimating factors betas. The arbitrage price theory with no-firm specific risk. The risk-expected return relationship for stocks with firm specific risk. Empirical tests on APT: factor studies, macroeconomic variables studies, firm characteristics studies. Comparison of CAPM ...
... factor- risk premiums. Estimating factors betas. The arbitrage price theory with no-firm specific risk. The risk-expected return relationship for stocks with firm specific risk. Empirical tests on APT: factor studies, macroeconomic variables studies, firm characteristics studies. Comparison of CAPM ...
Empirical Analysis of Stock Returns and Volatility of the
... way to measure volatility is by using the standard deviation, which tells you how tightly the price of a stock is grouped around the mean or moving average (MA). When the prices are tightly bunched together, the standard deviation is small. When the price is spread apart, you have a relatively large ...
... way to measure volatility is by using the standard deviation, which tells you how tightly the price of a stock is grouped around the mean or moving average (MA). When the prices are tightly bunched together, the standard deviation is small. When the price is spread apart, you have a relatively large ...
The Introduction of Economic Value Added (EVA ) in the Greek
... EPS is the earnings per share of firm at time t EPS is the change in earnings per share over period t-1 to t Pt-1 is the market value per share at the first trading day of the ninth month prior to fiscal year end EVA is the economic value added of firm at time t EVA is the change in EVA over period ...
... EPS is the earnings per share of firm at time t EPS is the change in earnings per share over period t-1 to t Pt-1 is the market value per share at the first trading day of the ninth month prior to fiscal year end EVA is the economic value added of firm at time t EVA is the change in EVA over period ...
Chapter 19
... performance of the 115 companies, which raised their payouts, may also reflect a signal by management through the dividends that the firms were expected to do well in the future. ...
... performance of the 115 companies, which raised their payouts, may also reflect a signal by management through the dividends that the firms were expected to do well in the future. ...
Revisiting the Role of Insurance Company ALM
... A Game-Changing Approach? But is there a way to more nimbly shift between offense and defense? For one, the financial industry is looking at more effective forms of contingent capital. Flexibility in a customized structure would depend on the insurer’s objectives but would ultimately provide capital ...
... A Game-Changing Approach? But is there a way to more nimbly shift between offense and defense? For one, the financial industry is looking at more effective forms of contingent capital. Flexibility in a customized structure would depend on the insurer’s objectives but would ultimately provide capital ...
FASB Accounting Rules and Implications for Natural Gas Purchase
... Under current accounting guidance,7 a derivative instrument is a financial instrument or other contract with all of the following characteristics: a. There is an underlying asset and a notional payment provision. b. The investment to obtain the derivative is zero or smaller than the initial investme ...
... Under current accounting guidance,7 a derivative instrument is a financial instrument or other contract with all of the following characteristics: a. There is an underlying asset and a notional payment provision. b. The investment to obtain the derivative is zero or smaller than the initial investme ...
Download attachment
... The focus in this strand is to develop and implement models that can be used for valuing and hedging complex derivative instruments and transactions. 2. Numerical and computational advances to implement those models for which there are no closed-form solutions. Prime examples here would include almo ...
... The focus in this strand is to develop and implement models that can be used for valuing and hedging complex derivative instruments and transactions. 2. Numerical and computational advances to implement those models for which there are no closed-form solutions. Prime examples here would include almo ...
The case for multi asset investment
... add value over the shorter term. TAA seeks to generate additional returns by adjusting the asset allocation of a portfolio as market conditions change. We believe that markets are generally efficient at pricing in today’s information, but are relatively poor at anticipating the future. For example, ...
... add value over the shorter term. TAA seeks to generate additional returns by adjusting the asset allocation of a portfolio as market conditions change. We believe that markets are generally efficient at pricing in today’s information, but are relatively poor at anticipating the future. For example, ...
Chapter 15
... Determining Beta For a stock, beta determined statistically For a factory, determining beta is more difficult Firms often use the company cost of capital as nominal discount rate Weighted average of he expected return on a company’s stock and the interest rate that it pays for debt. Can dep ...
... Determining Beta For a stock, beta determined statistically For a factory, determining beta is more difficult Firms often use the company cost of capital as nominal discount rate Weighted average of he expected return on a company’s stock and the interest rate that it pays for debt. Can dep ...