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pdf - The University of Texas at Dallas
pdf - The University of Texas at Dallas

... away over the entire portfolio holding. Such investors are vastly more concerned with earnings implications for the direction the market is taking as a whole than with its idiosyncratic valuation implications. One might, for instance, expect these investors to make important consumption and investme ...
Historical cost measurement and the use of DuPont analysis by
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... asset age is linked to a measurement bias, which lowers assets (and thus increases assetdenominated ratios), rather than a competitive advantage, which would be reflected in higher sales.4 We hypothesize that historical cost measurement of assets will lead to biases in the persistence of the asset ...
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99 COMPANY XYZ LIMITED

... Company and the Companies Acts. Although the Directors may convene an extraordinary general meeting of the Company at any time, the Directors of the Company are required to convene a general meeting within eighteen months of incorporation and fifteen months of the previous annual general meeting the ...
Financial reporting developments: Asset Retirement Obligations
Financial reporting developments: Asset Retirement Obligations

threadneedle investment funds icvc - Columbia Threadneedle Investments
threadneedle investment funds icvc - Columbia Threadneedle Investments

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0001193125-13-078669 - Lasalle Hotel Properties

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0001193125-13-083748 - Lasalle Hotel Properties
0001193125-13-083748 - Lasalle Hotel Properties

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Project on Financial Statement Analysis of the Textile Industry Of

... Ret urn on Assets (also called Return on Investment) T hc Return on Assets ratio is an important profitability ratio because it measures the efti cicnc y 'vvi th which the company is managing its investment in assets and using them Netincome + Ajiertaxinterest to generate profit. It measures the Ret ...
Bright Directions 529 College Savings Program
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Morningstar Guide
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5.45% Series J Cumulative Preferred Stock
5.45% Series J Cumulative Preferred Stock

Debt Refinancing and Equity Returns∗
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... We then explore the role of debt refinancing for equity returns more rigorously in FamaMacBeth (FMB) regressions. Here, we show that equity returns are significantly related to firms’ debt refinancing intensities. In regressions of returns on leverage and refinancing intensities the coefficient est ...
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Long-Short Commodity Investing - EDHEC

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Form 20-F/A - MOL Corporate
Form 20-F/A - MOL Corporate

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Investment Policy Manual
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Are Dividend Changes a Sign of Firm Maturity?

... (c) The shares on which the dividends are paid are ordinary common shares and are not shares of Americus Trust components, closed-end funds, or REITS. (d) The previous cash dividend payment was paid within a window of 20 to 90 trading days prior to the current dividend announcement. (e) The percenta ...
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... environmental changes have been remarkable enough to change the cash management behavior, which can be seen as a structural change in the cash management function. The factors assumed to explain this phenomenon may concern organizational and technological arrangements in cash management, likewise pr ...
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... and the price of oil near U$30/barrel, there still remain concerns about additional cuts to the overnight rate. Source: Bloomberg. (12/31/15) Additionally, the size of the floating rate sector expanded in 2015 as new floating rate preferred shares were created as rate resets extended. With the inter ...
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... which is true, because at t0 , the buyer is paying USD100 for the cash flows shown in Figure 1-2. Buying (selling) such a bond is inconvenient in many respects. First, one needs cash to do this. Practitioners call this funding, in case the bond is purchased. When the bond is sold short it will genera ...
(2007), Paul Wilmott Introduces Quantitative
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... Wiley & Sons Ltd, The Atrium, Southern Gate, Chichester, West Sussex PO19 8SQ, England, or emailed to [email protected], or faxed to (+44) 1243 770620. Designations used by companies to distinguish their products are often claimed as trademarks. All brand names and product names used in this book ...
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TORTOISE CAPITAL RESOURCES CORP (Form: N

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0000950130-02-001093 - Lasalle Hotel Properties

... the underwriters have not, authorized any other person to provide you with different information. If anyone provides you with different or inconsistent information, you should not rely on it. We are not, and the underwriters are not, making an offer to sell these securities in any jurisdiction where ...
On the Design of Collateralized Debt Obligation
On the Design of Collateralized Debt Obligation

... asymmetry? Should the transaction be structured as a true sale- or a synthetic transaction so as to allow for a TLP? How large should be the TLP? These questions can only be answered taking into consideration not only the needs of the originator, but also the needs of investors. They insist on a sol ...
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Modified Dietz method

The modified Dietz method is a measure of the historical performance of an investment portfolio in the presence of external flows. (External flows are movements of value such as transfers of cash, securities or other instruments in or out of the portfolio, with no equal simultaneous movement of value in the opposite direction, and which are not income from the investments in the portfolio, such as interest, coupons or dividends.) To calculate the modified Dietz return, divide the gain or loss in value, net of external flows, by the average capital over the period of measurement. The result of the calculation is expressed as a percentage rate of return for the time period. The average capital weights individual cash flows by the amount of time from when those cash flows occur until the end of the period.This method has the practical advantage over Internal Rate of Return (IRR) that it does not require repeated trial and error to get a result.The cash flows used in the formula are weighted based on the time they occurred in the period. For example if they occurred in the beginning of the month they would have a higher weight than if they occurred at the end of the month. This is different from the simple Dietz method, in which the cash flows are weighted equally regardless of when they occurred during the measurement period, which works on an assumption that the flows are distributed evenly throughout the period.With the advance of technology in the past 15 years, most systems can calculate a true time-weighted return by calculating a daily return and geometrically linking in order to get a monthly, quarterly, annual or any other period return. However, the modified Dietz method remains useful for performance attribution, because it still has the advantage of allowing modified Deitz returns on assets to be combined with weights in a portfolio, calculated according to average invested capital, and the weighted average gives the modified Dietz return on the portfolio. Time weighted returns do not allow this.This method for return calculation is used in modern portfolio management. It is one of the methodologies of calculating returns recommended by the Investment Performance Council (IPC) as part of their Global Investment Performance Standards (GIPS). The GIPS standard is intended to standardize the way portfolio returns are calculated internationally.The method is named after Peter O. Dietz.
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