Shifting the Lens – A De-Risking Toolkit for Impact Investment
... the demand side, charitable organisations are becoming increasingly market-based, enterprise is becoming more socially-motivated and the public sector is increasingly ‘spinning out’ provision of services. On the supply side, a broadening range of asset owners are beginning to engage with the idea of ...
... the demand side, charitable organisations are becoming increasingly market-based, enterprise is becoming more socially-motivated and the public sector is increasingly ‘spinning out’ provision of services. On the supply side, a broadening range of asset owners are beginning to engage with the idea of ...
Mutual fund intermediation, equity issues, and the real
... Grossman and Stiglitz, 1980).1 However, this is a second-order effect, and the more direct influence of mutual funds through their primary market investment as informed financiers has received much less attention, especially regarding their real effect on firms and at the aggregate level. This pape ...
... Grossman and Stiglitz, 1980).1 However, this is a second-order effect, and the more direct influence of mutual funds through their primary market investment as informed financiers has received much less attention, especially regarding their real effect on firms and at the aggregate level. This pape ...
DOES FINANCIAL LEVERAGE INFLUENCE INVESTMENT
... Aivazian et al. (2005) found the negative but significantly strong relationship between leverage and investment for firms having low growth opportunities as compare to high growth opportunity firms. Campello (2006) argued that market gains could be increased by moderate debt taking but sales could b ...
... Aivazian et al. (2005) found the negative but significantly strong relationship between leverage and investment for firms having low growth opportunities as compare to high growth opportunity firms. Campello (2006) argued that market gains could be increased by moderate debt taking but sales could b ...
Telstra Financial and Economic Profit Analysis
... limits suggested by industry comparisons. Although the limits of our study do suggest further areas of fruitful enquiry, we can conclude that we have been able to find no support for the proposition that Telstra is receiving a poor return on investment on-shore and is therefore being driven to inves ...
... limits suggested by industry comparisons. Although the limits of our study do suggest further areas of fruitful enquiry, we can conclude that we have been able to find no support for the proposition that Telstra is receiving a poor return on investment on-shore and is therefore being driven to inves ...
Understanding Personal Finances and Investments
... receive commissions for their investment recommendations. Instead, they charge consulting fees that range from $100 to $250 an hour. Many financial planners suggest that you accumulate an “emergency fund”—a certain amount of money that can be obtained quickly in case of immediate need— before beginn ...
... receive commissions for their investment recommendations. Instead, they charge consulting fees that range from $100 to $250 an hour. Many financial planners suggest that you accumulate an “emergency fund”—a certain amount of money that can be obtained quickly in case of immediate need— before beginn ...
NBER WORKING PAPER SERIES PUTTING THE BRAKES ON SUDDEN STOPS:
... a sudden reversal of private capital inflows and current account deficits, a collapse in production and private absorption, and large relative price corrections in domestic goods prices and asset prices. A large fraction of the literature on this subject is based on the premise that world capital ma ...
... a sudden reversal of private capital inflows and current account deficits, a collapse in production and private absorption, and large relative price corrections in domestic goods prices and asset prices. A large fraction of the literature on this subject is based on the premise that world capital ma ...
Regulatory Capital - Duisenberg school of finance
... (defined as equity capital divided by total assets) is about 70 per cent, and typically well above 50 per cent (Damodaran, 2014). As there is no capital regulation for industries, we are using here accounting definitions of capital. Moving to the financial sector, the unweighted capital ratio is wel ...
... (defined as equity capital divided by total assets) is about 70 per cent, and typically well above 50 per cent (Damodaran, 2014). As there is no capital regulation for industries, we are using here accounting definitions of capital. Moving to the financial sector, the unweighted capital ratio is wel ...
Babson Capital Management presentation
... Source: Barclays Capital as of March 6, 2013. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. It is not possible to invest directly in an index. ...
... Source: Barclays Capital as of March 6, 2013. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. It is not possible to invest directly in an index. ...
Understanding Short-termism: the Role of Corporate Governance.
... despite the fact that it is clearly inferior from the long-term view. Here short-termism reflects a suboptimal decision made by a manager. Narayanan argues that managers may make decisions “sacrificing the long-term interests of the shareholders” and thus links short-termism to the agency problems b ...
... despite the fact that it is clearly inferior from the long-term view. Here short-termism reflects a suboptimal decision made by a manager. Narayanan argues that managers may make decisions “sacrificing the long-term interests of the shareholders” and thus links short-termism to the agency problems b ...
Chapter 1 - Universidade do Minho
... who in turn hire the management team. Contracts can be carefully constructed to be incentive compatible. There is a market for managerial talent—this may provide market discipline to the managers—they can be replaced. If the managers fail to maximize share price, they may be replaced in a hostile ta ...
... who in turn hire the management team. Contracts can be carefully constructed to be incentive compatible. There is a market for managerial talent—this may provide market discipline to the managers—they can be replaced. If the managers fail to maximize share price, they may be replaced in a hostile ta ...
Safe: Cap and Discount
... Neither this instrument nor the rights contained herein may be assigned, by operation of law or otherwise, by either party without the prior written consent of the other; provided, however, that this instrument and/or the rights contained herein may be assigned without the Company’s consent ...
... Neither this instrument nor the rights contained herein may be assigned, by operation of law or otherwise, by either party without the prior written consent of the other; provided, however, that this instrument and/or the rights contained herein may be assigned without the Company’s consent ...
unit – i investment setting - KV Institute of Management and
... of his or her investment strategy. A highly-paid executive, for example, may want to seek investments with favorable tax treatment in order to lessen his or her overall income tax burden. Making contributions to an IRA or other tax-sheltered retirement plan, such as a 401(k), can be an effective tax ...
... of his or her investment strategy. A highly-paid executive, for example, may want to seek investments with favorable tax treatment in order to lessen his or her overall income tax burden. Making contributions to an IRA or other tax-sheltered retirement plan, such as a 401(k), can be an effective tax ...
Week 11 Slides
... – Sustainable growth (g*) is the only growth rate consistent with the firm continuing its operations without any outside equity – Despite Modigliani-Miller propostions, leverage matters if new (outside) equity matters J. K. Dietrich - FBE 432 – Spring, 2002 ...
... – Sustainable growth (g*) is the only growth rate consistent with the firm continuing its operations without any outside equity – Despite Modigliani-Miller propostions, leverage matters if new (outside) equity matters J. K. Dietrich - FBE 432 – Spring, 2002 ...
Return Expectations from Venture Capital Deals in Europe
... Return Expectations from Venture Capital Deals in Europe: A Comparative Study Maximilien Feider, Etienne Krieger, and Karim Medjad Abstract The present comparative study is based on a survey conducted among the venture capital professionals of three major European countries, namely Germany, France, ...
... Return Expectations from Venture Capital Deals in Europe: A Comparative Study Maximilien Feider, Etienne Krieger, and Karim Medjad Abstract The present comparative study is based on a survey conducted among the venture capital professionals of three major European countries, namely Germany, France, ...
Chapter 17 - McGraw Hill Higher Education
... “America West Airlines announced today that its Board of Directors has authorized the purchase of up to 2.5 million shares of its Class B common stock on the open market as circumstances warrant over the next two years. . . . “Following the approval of the stock repurchase program by the company’s B ...
... “America West Airlines announced today that its Board of Directors has authorized the purchase of up to 2.5 million shares of its Class B common stock on the open market as circumstances warrant over the next two years. . . . “Following the approval of the stock repurchase program by the company’s B ...
Conference Program
... After an assignment at AT&T, Dick joined Merrill Lynch Capital Markets in 1981, assuming the investment consulting responsibility for over $25 billion in assets. With Merrill Lynch’s decision to leave the institutional investment consulting market at the end of 1985, Dick formed his own firm, New ...
... After an assignment at AT&T, Dick joined Merrill Lynch Capital Markets in 1981, assuming the investment consulting responsibility for over $25 billion in assets. With Merrill Lynch’s decision to leave the institutional investment consulting market at the end of 1985, Dick formed his own firm, New ...
How to Read a Value Line Fund Advisor Report
... some may find it useful to see funds ranked within narrow categories, such a system makes it impossible to meaningfully compare funds across these categories. For example, if small-company funds are ranked in isolation, there is no way to compare the rank of a fund in this group to that of a large-c ...
... some may find it useful to see funds ranked within narrow categories, such a system makes it impossible to meaningfully compare funds across these categories. For example, if small-company funds are ranked in isolation, there is no way to compare the rank of a fund in this group to that of a large-c ...
fund facts - RBC Global Asset Management
... What does the fund invest in? The fund invests primarily in units of the RBC Private Canadian Dividend Pool and/or the RBC Canadian Dividend Fund. The RBC Private Canadian Dividend Pool and the RBC Canadian Dividend Fund invest primarily in the common shares and preferred shares of Canadian companie ...
... What does the fund invest in? The fund invests primarily in units of the RBC Private Canadian Dividend Pool and/or the RBC Canadian Dividend Fund. The RBC Private Canadian Dividend Pool and the RBC Canadian Dividend Fund invest primarily in the common shares and preferred shares of Canadian companie ...
CPB Discussion Paper
... Thomas (2001) use several accounting variables to do this. Earlier, Blanchard (1993) used the unconditional dividend model, but took account of expectations of the interest rate and inflation rate. ...
... Thomas (2001) use several accounting variables to do this. Earlier, Blanchard (1993) used the unconditional dividend model, but took account of expectations of the interest rate and inflation rate. ...
Equilibrium asset prices with undiversifiable labor income risk
... I will show that a sufficient condition under which a model with undiversifiable labor income risk predicts a smaller bond return and larger equity premium than would a representative agent model calibrated on the aggregate consumption series generated by that economy is, fortunately, quite plausibl ...
... I will show that a sufficient condition under which a model with undiversifiable labor income risk predicts a smaller bond return and larger equity premium than would a representative agent model calibrated on the aggregate consumption series generated by that economy is, fortunately, quite plausibl ...
Word 2002 Format
... arising from mandatory and voluntary non-exchange transactions with federal, state governments, organizations, or individuals that are restricted for use in a particular program. General revenues are revenues that are not required to be reported as program revenues such as property taxes levies for ...
... arising from mandatory and voluntary non-exchange transactions with federal, state governments, organizations, or individuals that are restricted for use in a particular program. General revenues are revenues that are not required to be reported as program revenues such as property taxes levies for ...
EMValWells
... could use their traded market capitalizations to estimate the values of the cross holdings. You do risk carrying into your valuation any mistakes that the market may be making in valuation. The relative value solution: When there are too many cross holdings to value separately or when there is insuf ...
... could use their traded market capitalizations to estimate the values of the cross holdings. You do risk carrying into your valuation any mistakes that the market may be making in valuation. The relative value solution: When there are too many cross holdings to value separately or when there is insuf ...
Target Date Funds FRED REISH, ESQ.
... To consider the investor’s risk tolerance, personal circumstances, and complete financial situation. ...
... To consider the investor’s risk tolerance, personal circumstances, and complete financial situation. ...
Inefficient Markets, Efficient Investment?
... effectively transferring value from new shareholders to existing shareholders. To the extent that market inefficiency leads to a redistribution of wealth from one shareholder to another, market misvaluations will have no real economic impact. However, in the presence of financing constraints prevent ...
... effectively transferring value from new shareholders to existing shareholders. To the extent that market inefficiency leads to a redistribution of wealth from one shareholder to another, market misvaluations will have no real economic impact. However, in the presence of financing constraints prevent ...
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.