Macroeconomic Implications of Bank Capital Requirements ∗ Luisa Lambertini
... In the theoretical part, we develop a macroeconomic model with financial intermediaries that face equity constraints as in Basel II. The model consists of households, who can save in risk-free deposits or risky equity; firms that rent capital (from capital producers) and labor to produce goods; and ...
... In the theoretical part, we develop a macroeconomic model with financial intermediaries that face equity constraints as in Basel II. The model consists of households, who can save in risk-free deposits or risky equity; firms that rent capital (from capital producers) and labor to produce goods; and ...
securities 101: handbook for law enforcement officials
... Shares of stock represent a fraction of ownership in a corporation. If the company does well, the value of your stock should go up over time. If the company does not do well, the value of your investment will decrease. Companies distribute a portion of their profits to shareholders as dividends. A s ...
... Shares of stock represent a fraction of ownership in a corporation. If the company does well, the value of your stock should go up over time. If the company does not do well, the value of your investment will decrease. Companies distribute a portion of their profits to shareholders as dividends. A s ...
Developing the Right REIT Strategy: Recommendations for Two Multifamily Companies
... to do in today’s environment?” After providing a brief overview of the firms as well as a discussion on current supply and demand fundamentals, this paper describes how AvalonBay and Gables’s strategy must carefully consider each company’s existing operations, new opportunities and capital structure ...
... to do in today’s environment?” After providing a brief overview of the firms as well as a discussion on current supply and demand fundamentals, this paper describes how AvalonBay and Gables’s strategy must carefully consider each company’s existing operations, new opportunities and capital structure ...
FCA Consultation CP16/30: Transaction cost disclosure in
... funds, asset valuations for illiquid assets such as property are subjective. A further issue for DC is that the values being traded are often small and so are met out of funds’ cash-flows (investor inflows and outflows as well as rental income) rather than buying or selling assets. As a result, whil ...
... funds, asset valuations for illiquid assets such as property are subjective. A further issue for DC is that the values being traded are often small and so are met out of funds’ cash-flows (investor inflows and outflows as well as rental income) rather than buying or selling assets. As a result, whil ...
DFS-J3-1541 rev0413(Investment Policy).
... Morningstar Rating –The Morningstar Rating for mutual funds, commonly called the star rating, is a measure, published by Morningstar Inc., of a fund's risk-adjusted return, relative to other mutual funds in its category. Funds are rated from one to five stars, with the best performers receiving five ...
... Morningstar Rating –The Morningstar Rating for mutual funds, commonly called the star rating, is a measure, published by Morningstar Inc., of a fund's risk-adjusted return, relative to other mutual funds in its category. Funds are rated from one to five stars, with the best performers receiving five ...
2006 Financing Report
... 1.5% of the combined Gross Domestic Product (GDP) of those nations. • The entrepreneurs themselves provide 62% of the start-up capital for their new ventures. • When the money provided by the entrepreneurs is combined with the amount of informal investment, the sum is 3.9% of the combined GDP of t ...
... 1.5% of the combined Gross Domestic Product (GDP) of those nations. • The entrepreneurs themselves provide 62% of the start-up capital for their new ventures. • When the money provided by the entrepreneurs is combined with the amount of informal investment, the sum is 3.9% of the combined GDP of t ...
A Different Approach To Investing in Emerging Markets
... Each of the four Wasatch emerging-market mutual funds (Emerging Markets Select, Emerging Markets Small Cap, Frontier Emerging Small Countries, and Emerging India) employs a different targeting strategy to seek returns with different drivers and different sources of alpha. Consequently, these funds a ...
... Each of the four Wasatch emerging-market mutual funds (Emerging Markets Select, Emerging Markets Small Cap, Frontier Emerging Small Countries, and Emerging India) employs a different targeting strategy to seek returns with different drivers and different sources of alpha. Consequently, these funds a ...
Winning the long-term game — new insights into asset
... Beyond the technicalities of performance measurement, asset owners should be highly conscious of separating short-term noise from long-term performance information (see box 'Investment managers in the firing line' on following page) However, owners must not focus all their energies on measurement of ...
... Beyond the technicalities of performance measurement, asset owners should be highly conscious of separating short-term noise from long-term performance information (see box 'Investment managers in the firing line' on following page) However, owners must not focus all their energies on measurement of ...
Working Paper 29: Overcoming barriers to institutional investment in
... There is strong demand for fixed interest securities from the annuity funds but institutional liabilities tend to be real in nature – ie they increase over time as prices/wages increase. As a result, institutional investors need to include real assets within their portfolios such as indexlinked secu ...
... There is strong demand for fixed interest securities from the annuity funds but institutional liabilities tend to be real in nature – ie they increase over time as prices/wages increase. As a result, institutional investors need to include real assets within their portfolios such as indexlinked secu ...
Barings Developed and Emerging Markets High Yield Bond
... developing or emerging country will not be more than 10% of the Fund’s assets. The Fund will invest principally in sub-investment grade securities that are rated not lower than Bby Standard & Poor’s (or a similar rating from another internationally recognised rating agency). The Fund may also invest ...
... developing or emerging country will not be more than 10% of the Fund’s assets. The Fund will invest principally in sub-investment grade securities that are rated not lower than Bby Standard & Poor’s (or a similar rating from another internationally recognised rating agency). The Fund may also invest ...
The Financial Structure of Startup Firms: The Role of
... where ensuring the alignment of interests between managers and shareholders is more difficult. Our question: does the ranking with regard to internal funds, external debt, and external equity that comes from established-firm theory play out for startups, which have different asset and information ch ...
... where ensuring the alignment of interests between managers and shareholders is more difficult. Our question: does the ranking with regard to internal funds, external debt, and external equity that comes from established-firm theory play out for startups, which have different asset and information ch ...
Format of holding of specified securities Name of Listed Entity: Scrip
... Details of the shareholders acting as persons in Concert including their Shareholding (No. and %): Details of Shares which remain unclaimed may be given hear along with details such as number of shareholders, outstanding shares held in demat/unclaimed suspense account, voting rights which are frozen ...
... Details of the shareholders acting as persons in Concert including their Shareholding (No. and %): Details of Shares which remain unclaimed may be given hear along with details such as number of shareholders, outstanding shares held in demat/unclaimed suspense account, voting rights which are frozen ...
Operating Conditions Applicable to the Firm
... monitor for conflicts between redeeming and continuing investors and conflicts between the AIFM’s incentive to invest in illiquid assets and the AIF’s redemption policy. – The AIFM must develop strategies for determining when and how to exercise any voting rights held in the AIF portfolios it manage ...
... monitor for conflicts between redeeming and continuing investors and conflicts between the AIFM’s incentive to invest in illiquid assets and the AIF’s redemption policy. – The AIFM must develop strategies for determining when and how to exercise any voting rights held in the AIF portfolios it manage ...
CHAPTER THIRTEEN
... net effect on equity value of the increased eps growth and the increased leverage is zero. The stock market very much focuses on earnings growth. The abnormal earnings growth model justifies this focus, provided the growth comes from operations. Investors should be skeptical of eps growth, otherwise ...
... net effect on equity value of the increased eps growth and the increased leverage is zero. The stock market very much focuses on earnings growth. The abnormal earnings growth model justifies this focus, provided the growth comes from operations. Investors should be skeptical of eps growth, otherwise ...
A Switch Criterion for Defined Contribution Pension Schemes
... schemes for the following reasons: • it allows for a first partial switch of the fund from equities into bonds (in order to limit the risk), but considers also actual returns from the financial market through a dynamic criterion for the second and definitive switch • numerical results are good in co ...
... schemes for the following reasons: • it allows for a first partial switch of the fund from equities into bonds (in order to limit the risk), but considers also actual returns from the financial market through a dynamic criterion for the second and definitive switch • numerical results are good in co ...
NBER WORKING PAPER SERIES QUANTITATIVE IMPLICATION OF A DEBT-DEFLATION
... East Asia in 1997, even in countries where there was no devaluation of the currency, as in Hong Kong where equity prices fell by 20 percent. Sudden Stops also induced higher asset price volatility. The volatility of weekly emerging-market dollar returns doubled from 2 to 4 percent during the 1997 Ea ...
... East Asia in 1997, even in countries where there was no devaluation of the currency, as in Hong Kong where equity prices fell by 20 percent. Sudden Stops also induced higher asset price volatility. The volatility of weekly emerging-market dollar returns doubled from 2 to 4 percent during the 1997 Ea ...
Franklin Floating Rate Daily Access Fund Summary Prospectus
... recognized base interest rate such as the London Interbank Offered Rate (LIBOR) or the Prime Rate. The Fund may invest in companies whose financial condition is troubled or uncertain and that may be involved in bankruptcy proceedings, reorganizations or financial restructurings. Floating interest ra ...
... recognized base interest rate such as the London Interbank Offered Rate (LIBOR) or the Prime Rate. The Fund may invest in companies whose financial condition is troubled or uncertain and that may be involved in bankruptcy proceedings, reorganizations or financial restructurings. Floating interest ra ...
Examples of Level II exam item set questions
... have been invested with us throughout the past 12 years and I urge you to continue to stay fully invested. I was just looking at the investment record of a former client who happens to be a relative of mine, Karoll Reeves, who has traded in and out of our funds during that same period. Her returns h ...
... have been invested with us throughout the past 12 years and I urge you to continue to stay fully invested. I was just looking at the investment record of a former client who happens to be a relative of mine, Karoll Reeves, who has traded in and out of our funds during that same period. Her returns h ...
Challenges of Financing Infrastructure
... has to be reasonably large to achieve sufficient diversification when investing in infrastructure and/or needs to invest through a consortium to help spread the risks of any one investment. ...
... has to be reasonably large to achieve sufficient diversification when investing in infrastructure and/or needs to invest through a consortium to help spread the risks of any one investment. ...
Urgent Notice for non-EU issuers of Securities
... their prospectuses are approved, and where they file their ongoing disclosure, for all such securities in future. They should ensure that, in practice, their first listing of such securities after the relevant date is in the EU country they wish to choose permanently. The new EU Prospectus Directive ...
... their prospectuses are approved, and where they file their ongoing disclosure, for all such securities in future. They should ensure that, in practice, their first listing of such securities after the relevant date is in the EU country they wish to choose permanently. The new EU Prospectus Directive ...
pension funds and the u
... in a pension fund rather than holding the same assets on a company balance sheet or in an individual's own portfolio. The irrelevance of pension fund asset allocation as described above is in fact identical in structure to the first proposition of Modigliani and Miller (1958). They used the same arb ...
... in a pension fund rather than holding the same assets on a company balance sheet or in an individual's own portfolio. The irrelevance of pension fund asset allocation as described above is in fact identical in structure to the first proposition of Modigliani and Miller (1958). They used the same arb ...
Simplicity Is the Ultimate Sophistication
... Source: Morningstar, 4/17. Start date of 7/31/06 is the Hartford Balanced Income Fund’s inception date. Risk is measured by standard deviation. Standard deviation is a measure of how returns over time have varied from the mean; a lower number signifies lower volatility. Stocks are represented by the ...
... Source: Morningstar, 4/17. Start date of 7/31/06 is the Hartford Balanced Income Fund’s inception date. Risk is measured by standard deviation. Standard deviation is a measure of how returns over time have varied from the mean; a lower number signifies lower volatility. Stocks are represented by the ...
Realpool Investment Fund - British Columbia Investment
... Real estate investments are held through subsidiaries of the Fund, which include private corporations, trusts, and limited partnerships funded by a combination of equity and debt. The Fund is an investment entity, and as such, does not consolidate the entities it controls. Instead, interests in subs ...
... Real estate investments are held through subsidiaries of the Fund, which include private corporations, trusts, and limited partnerships funded by a combination of equity and debt. The Fund is an investment entity, and as such, does not consolidate the entities it controls. Instead, interests in subs ...
![II. Foreign portfolio investment[7]](http://s1.studyres.com/store/data/009465518_1-aaeccb882c08a66cd754bf0cd0f9039d-300x300.png)
II. Foreign portfolio investment[7]
... Notwithstanding the data problems, it is clear from Table 1 that private capital flows have become a far more important source of finance for developing countries in the 1990s than official capital flows, and that FDI and foreign portfolio investment have become more important relative to bank lendi ...
... Notwithstanding the data problems, it is clear from Table 1 that private capital flows have become a far more important source of finance for developing countries in the 1990s than official capital flows, and that FDI and foreign portfolio investment have become more important relative to bank lendi ...
Case 8: (PNC) Operating Leverage, Financial Leverage
... Financial leverage is the amount of debt a company takes on in their capital structure. This debt is a type of fixed income security such as bonds and preferred equity, which are used to finance business operations. Higher financial leverage can help reduce tax expenses but can become a detriment if ...
... Financial leverage is the amount of debt a company takes on in their capital structure. This debt is a type of fixed income security such as bonds and preferred equity, which are used to finance business operations. Higher financial leverage can help reduce tax expenses but can become a detriment if ...
Private equity
In finance, private equity is an asset class consisting of equity securities and debt in operating companies that are not publicly traded on a stock exchange.A private equity investment will generally be made by a private equity firm, a venture capital firm or an angel investor. Each of these categories of investor has its own set of goals, preferences and investment strategies; however, all provide working capital to a target company to nurture expansion, new-product development, or restructuring of the company’s operations, management, or ownership.Bloomberg Businessweek has called private equity a rebranding of leveraged-buyout firms after the 1980s. Common investment strategies in private equity include: leveraged buyouts, venture capital, growth capital, distressed investments and mezzanine capital. In a typical leveraged-buyout transaction, a private-equity firm buys majority control of an existing or mature firm. This is distinct from a venture-capital or growth-capital investment, in which the investors (typically venture-capital firms or angel investors) invest in young, growing or emerging companies, and rarely obtain majority control.Private equity is also often grouped into a broader category called private capital, generally used to describe capital supporting any long-term, illiquid investment strategy.