The edges of home ownership
... in Australia (HILDA) Survey. The HILDA Project was initiated and is funded by the Australian Government Department of Families, Housing, Community Services, and Indigenous Affairs (FaHCSIA) and is managed by the Melbourne Institute of Applied Economic and Social Research (MIAESR). The findings and v ...
... in Australia (HILDA) Survey. The HILDA Project was initiated and is funded by the Australian Government Department of Families, Housing, Community Services, and Indigenous Affairs (FaHCSIA) and is managed by the Melbourne Institute of Applied Economic and Social Research (MIAESR). The findings and v ...
Scottish Widows Life Funds Investor`s Guide
... For investors who aim to enhance returns by accessing a particular investment style, we offer a broad range of funds from well-established fund managers. These include balanced managed funds, for investors who may prefer a ready-made investment portfolio, and a large number of specialist funds suita ...
... For investors who aim to enhance returns by accessing a particular investment style, we offer a broad range of funds from well-established fund managers. These include balanced managed funds, for investors who may prefer a ready-made investment portfolio, and a large number of specialist funds suita ...
Eron Mortgage Study
... investors were no better educated and no more affluent than the average British Columbian of a similar age. They were not particularly wealthy – approximately two-thirds reported total annual household incomes of less than $75,000, and with an average age of 55, their net worth was approximately $200, ...
... investors were no better educated and no more affluent than the average British Columbian of a similar age. They were not particularly wealthy – approximately two-thirds reported total annual household incomes of less than $75,000, and with an average age of 55, their net worth was approximately $200, ...
CSA Mutual Fund Risk Classification Methodology for Use in Fund
... over the course of their existence even with the lowering of the volatility and the small minority that do shift, will not shift by more than one risk band. As such, we do not believe that any modifications are required to the Proposed Methodology for target date funds. ...
... over the course of their existence even with the lowering of the volatility and the small minority that do shift, will not shift by more than one risk band. As such, we do not believe that any modifications are required to the Proposed Methodology for target date funds. ...
Essays on Capital Structure Stability - cerge-ei
... maximization point of view, but also because this decision has a great impact on a firm’s ability to successfully operate in a competitive environment. Current literature has suggested a number of factors that can explain about 30% of the total variation in capital structure. However, Lemmon, Robert ...
... maximization point of view, but also because this decision has a great impact on a firm’s ability to successfully operate in a competitive environment. Current literature has suggested a number of factors that can explain about 30% of the total variation in capital structure. However, Lemmon, Robert ...
Explaining Credit Default Swap Spreads with Equity Volatility and
... In this paper we rely on the credit default swap (CDS) premium, the most popular instrument in the rapidly growing credit derivatives markets, as a direct measure of credit default spreads. Compared with corporate bond spreads, which were widely used in previous studies in testing structural models, ...
... In this paper we rely on the credit default swap (CDS) premium, the most popular instrument in the rapidly growing credit derivatives markets, as a direct measure of credit default spreads. Compared with corporate bond spreads, which were widely used in previous studies in testing structural models, ...
Key Investor Information - Clayton Holmes Naisbitt
... managed by us) you might pay less - you can find out the actual figures from us or your financial adviser. The ongoing charges figure is based on the latest available expenses at December 2013. This figure may vary from year to year. Ongoing charges exclude the costs associated with buying and selli ...
... managed by us) you might pay less - you can find out the actual figures from us or your financial adviser. The ongoing charges figure is based on the latest available expenses at December 2013. This figure may vary from year to year. Ongoing charges exclude the costs associated with buying and selli ...
foresIght SolAr EiS
... of more than £150 million and forecast generating capacity of 29 megawatts. I believe that this in-house experience of sourcing opportunities, arranging bank finance and completing solar power investments sets Foresight apart from any other EIS fund manager. Feed-in Tariffs amount, in effect, to a g ...
... of more than £150 million and forecast generating capacity of 29 megawatts. I believe that this in-house experience of sourcing opportunities, arranging bank finance and completing solar power investments sets Foresight apart from any other EIS fund manager. Feed-in Tariffs amount, in effect, to a g ...
Form ADV - Palisade Capital Management
... Department, (ii) call their client service representative at (201) 585-7733, or (iii) send an email to [email protected]. If Palisade agrees in writing to be responsible for voting Client proxies or making elections with respect to issuers of securities held in Client account(s), Palisade ...
... Department, (ii) call their client service representative at (201) 585-7733, or (iii) send an email to [email protected]. If Palisade agrees in writing to be responsible for voting Client proxies or making elections with respect to issuers of securities held in Client account(s), Palisade ...
Download paper (PDF)
... Next I elaborate on the economic intuition for my results. First, I find that, if the disclosure friction is sufficiently high, firms making more voluntary disclosures have a lower cost of capital. The rationale for this result is the relation between voluntary disclosures and investors’ updated est ...
... Next I elaborate on the economic intuition for my results. First, I find that, if the disclosure friction is sufficiently high, firms making more voluntary disclosures have a lower cost of capital. The rationale for this result is the relation between voluntary disclosures and investors’ updated est ...
3.2 Country-Level Factors and Earnings Quality of Cross
... 2.2 Country-Level Factors and the Earnings Quality of Cross-Listed Firm Agency theory suggests that shareholders require protection because management may not always act in the interests of shareholders (Fama, 1980; Fama and Jensen, 1983; Jensen and Meckling, 1976). In the context of U.S. cross-lis ...
... 2.2 Country-Level Factors and the Earnings Quality of Cross-Listed Firm Agency theory suggests that shareholders require protection because management may not always act in the interests of shareholders (Fama, 1980; Fama and Jensen, 1983; Jensen and Meckling, 1976). In the context of U.S. cross-lis ...
Annual Report - John Hancock Investments
... the Brexit vote. Corporate bonds did well, while mortgage- and assetbacked securities trailed with moderate gains. High yield corporate bonds lagged investment-grade corporates but still produced positive returns. Commodities weakness for much of last year weighed on the natural resources companies ...
... the Brexit vote. Corporate bonds did well, while mortgage- and assetbacked securities trailed with moderate gains. High yield corporate bonds lagged investment-grade corporates but still produced positive returns. Commodities weakness for much of last year weighed on the natural resources companies ...
Tier 1 capital
... reserves to retained earnings); and (vii) minority interests arising from consolidation of Tier 1 capital of subsidiaries (only for Level 2 calculations); and ...
... reserves to retained earnings); and (vii) minority interests arising from consolidation of Tier 1 capital of subsidiaries (only for Level 2 calculations); and ...
Guideline - OSFI-BSIF
... segregated funds risk (risk of loss arising from guarantees embedded in segregated funds) (reference chapter 8); and ...
... segregated funds risk (risk of loss arising from guarantees embedded in segregated funds) (reference chapter 8); and ...
The relation between equity incentives and misreporting_ The role
... results reported in prior literature focusing on portfolio delta, when we replace delta with vega, regardless of research design, we find strong evidence of a positive relation between vega and misreporting. Finally, when we jointly consider both delta and vega, regardless of research design, we fin ...
... results reported in prior literature focusing on portfolio delta, when we replace delta with vega, regardless of research design, we find strong evidence of a positive relation between vega and misreporting. Finally, when we jointly consider both delta and vega, regardless of research design, we fin ...
A theory of corporate spin-offs
... improve the quality of the information managers and uninformed investors can infer from the prices of the firm’s traded securities, therefore leading to an increase in the expected price of the firm’s equity. Nanda and Narayanan (1999) suggest that the firm may be undervalued if the market cannot o ...
... improve the quality of the information managers and uninformed investors can infer from the prices of the firm’s traded securities, therefore leading to an increase in the expected price of the firm’s equity. Nanda and Narayanan (1999) suggest that the firm may be undervalued if the market cannot o ...
Mutual Fund Ratings: What is the Risk in Risk
... directly related to the fund's probability of outperforming a user-selected benchmark's cumulative return. Perhaps the most important problem plaguing all these measures is the di±culty of accurately estimating expected returns from historical averages, even when a high number of years is used. A pr ...
... directly related to the fund's probability of outperforming a user-selected benchmark's cumulative return. Perhaps the most important problem plaguing all these measures is the di±culty of accurately estimating expected returns from historical averages, even when a high number of years is used. A pr ...
Sec 0 Cover - 2 Title TOC Tabs Etc.XLS
... The County provides a wide range of services including public safety, human services (Social Services, Health, Aging and Transportation), funds for education, cultural and recreational activities, and general administration functions. Additionally, the County owns and operates water, sewer and solid ...
... The County provides a wide range of services including public safety, human services (Social Services, Health, Aging and Transportation), funds for education, cultural and recreational activities, and general administration functions. Additionally, the County owns and operates water, sewer and solid ...
prospectus
... amendments to money market fund regulations (2014 Amendments). Under the 2014 Amendments, money market funds that qualify as “retail” (retail money market funds) or “government” (government money market funds) are permitted to utilize amortized cost to value their portfolio securities and to transac ...
... amendments to money market fund regulations (2014 Amendments). Under the 2014 Amendments, money market funds that qualify as “retail” (retail money market funds) or “government” (government money market funds) are permitted to utilize amortized cost to value their portfolio securities and to transac ...
News Release
... Operating profit increased 20% to £2,665 million (FY14: £2,213 million). The contribution from Friends Life (£554 million) and underlying growth (£103 million) more than offset headwinds from foreign exchange movements (£117 million) and a reduction in one-off items. Operating EPS2,3 rose 2% to 49.2 ...
... Operating profit increased 20% to £2,665 million (FY14: £2,213 million). The contribution from Friends Life (£554 million) and underlying growth (£103 million) more than offset headwinds from foreign exchange movements (£117 million) and a reduction in one-off items. Operating EPS2,3 rose 2% to 49.2 ...
Asset Prices and Unit Trusts
... is consistent with empirical evidence presented in section 6.2 and with evidence that new funds are more likely to be started after high inflows either into particular fund families or into all funds as a whole (Khorana 1996). In the model net cash inflows are subject to diminishing returns, so succ ...
... is consistent with empirical evidence presented in section 6.2 and with evidence that new funds are more likely to be started after high inflows either into particular fund families or into all funds as a whole (Khorana 1996). In the model net cash inflows are subject to diminishing returns, so succ ...
The Leverage Effect on Stock Returns-EFMA
... both high and low concentration industries. Our findings show that corporate level taxes increase the effect of leverage. Many studies in financial literature analyse the decisions on capital structure and leverage. Capital structure decisions are critical as a shift in the firm’s attitude to levera ...
... both high and low concentration industries. Our findings show that corporate level taxes increase the effect of leverage. Many studies in financial literature analyse the decisions on capital structure and leverage. Capital structure decisions are critical as a shift in the firm’s attitude to levera ...
Limited Attention and the Uninformative Persuasion of Mutual Fund
... anticipates a pending improvement in the fund’s reported performance resulting from a negative end-return dropping from the horizon of the HPR calculation. However, the improvement in the reported HPR reflects only that the immediate performance was less negative than the quarter being rolled off. F ...
... anticipates a pending improvement in the fund’s reported performance resulting from a negative end-return dropping from the horizon of the HPR calculation. However, the improvement in the reported HPR reflects only that the immediate performance was less negative than the quarter being rolled off. F ...
Inflation and Real Estate Investments
... discussion also notes that, given the difference in asset returns in high- versus lowinflation periods, choosing a tactical asset allocation specific for a high-inflation regime exposes investors to considerable directional risk. A balanced approach that provides similar risk-adjusted return in both ...
... discussion also notes that, given the difference in asset returns in high- versus lowinflation periods, choosing a tactical asset allocation specific for a high-inflation regime exposes investors to considerable directional risk. A balanced approach that provides similar risk-adjusted return in both ...
Limitations of a Mutual Fund
... investment objective. Thus, the mutual fund structure, through its various schemes, makes it possible to tap a large corpus of money from diverse investors. (Therefore, the mutual fund offers schemes. In the industry, the words ‘fund’ and ‘scheme’ are used interchangeably.) The money that is raised ...
... investment objective. Thus, the mutual fund structure, through its various schemes, makes it possible to tap a large corpus of money from diverse investors. (Therefore, the mutual fund offers schemes. In the industry, the words ‘fund’ and ‘scheme’ are used interchangeably.) The money that is raised ...
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.