cm advisors small cap value fund cm advisors fixed income fund
... companies generally have more risks than those of larger companies. This greater risk is, in part, attributable to the fact that small cap companies may have less experienced management teams, serve smaller markets, and find it more difficult to obtain financing for growth or potential development t ...
... companies generally have more risks than those of larger companies. This greater risk is, in part, attributable to the fact that small cap companies may have less experienced management teams, serve smaller markets, and find it more difficult to obtain financing for growth or potential development t ...
NBER WORKING PAPER SERIES AND CAPITAL STRUCTURE
... Risks associated with macroeconomic conditions are crucial for understanding asset prices. Naturally, they should also have important implications for corporate decisions. By introducing macroeconomic conditions into firms’ financing decisions, this paper provides a risk-based explanation for two p ...
... Risks associated with macroeconomic conditions are crucial for understanding asset prices. Naturally, they should also have important implications for corporate decisions. By introducing macroeconomic conditions into firms’ financing decisions, this paper provides a risk-based explanation for two p ...
Stock Market Liquidity and the Cost of Issuing Equity
... during regular trading hours. We follow Weston (2000) in filtering the TAQ data for errors. Specifically, we filter out quotations for which the ask is smaller than or equal to the bid price (crossed markets) or for which there is non-sequence warning flag on the Trades and Quotes (TAQ) database (st ...
... during regular trading hours. We follow Weston (2000) in filtering the TAQ data for errors. Specifically, we filter out quotations for which the ask is smaller than or equal to the bid price (crossed markets) or for which there is non-sequence warning flag on the Trades and Quotes (TAQ) database (st ...
Beyond their Borders Evolution of foreign investment by
... way to gain foreign exposure. Setting up partnerships with asset managers that have expertise in particular foreign markets is another approach. Finally, investing in foreign funds is a common method for investing abroad. Investment funds are, in fact, one of the most convenient vehicles for gaining ...
... way to gain foreign exposure. Setting up partnerships with asset managers that have expertise in particular foreign markets is another approach. Finally, investing in foreign funds is a common method for investing abroad. Investment funds are, in fact, one of the most convenient vehicles for gaining ...
gruppo de eccher 2013 gr u pp odeec ch er 2013
... simultaneous underwriting by another wholly owned special ...
... simultaneous underwriting by another wholly owned special ...
Small Firm Use of Debt: An Examination of the Smallest Small Firms
... acquired debt as might be expected. As with the case of sales, debt levels were highly skewed. Smaller firms using debt had average total debt of $48,087 but median debt of only $6,615. The larger firms had average total debt of $1,324,940 but median debt of only $140,000. Similarly, external debt f ...
... acquired debt as might be expected. As with the case of sales, debt levels were highly skewed. Smaller firms using debt had average total debt of $48,087 but median debt of only $6,615. The larger firms had average total debt of $1,324,940 but median debt of only $140,000. Similarly, external debt f ...
hussman strategic dividend value fund
... stocks fall out of favor with the market. The principal risks of the Fund are the risks generally associated with investing in stocks. General stock market movements will affect the Fund’s share price on a daily basis. Significant declines are possible both in the overall stock market and in the pri ...
... stocks fall out of favor with the market. The principal risks of the Fund are the risks generally associated with investing in stocks. General stock market movements will affect the Fund’s share price on a daily basis. Significant declines are possible both in the overall stock market and in the pri ...
Similarities and Differences between US and German Regulation of
... intervene before trouble ensued. Financial institutions, such as the American Insurance Group (AIG), Bear Stearns, and the Oppenheimer Champion Income Fund, were in headlines around the world because of their near collapse due to investments in credit default swaps (CDS). 3 These funds were not the ...
... intervene before trouble ensued. Financial institutions, such as the American Insurance Group (AIG), Bear Stearns, and the Oppenheimer Champion Income Fund, were in headlines around the world because of their near collapse due to investments in credit default swaps (CDS). 3 These funds were not the ...
GENCORP INC (Form: SC 13D/A, Received: 10/26/2010 14:01:42)
... GSI, a majority-owned subsidiary of GBL, is an investment adviser registered under the Advisers Act and serves as a general partner or investment manager to limited partnerships and offshore investment companies and other accounts. As a part of its business, GSI may purchase or sell securities for i ...
... GSI, a majority-owned subsidiary of GBL, is an investment adviser registered under the Advisers Act and serves as a general partner or investment manager to limited partnerships and offshore investment companies and other accounts. As a part of its business, GSI may purchase or sell securities for i ...
The Gains from Resolving Debt Overhang: Evidence from a
... consistent with existing estimates in the corporate finance literature. We find the expected private gains upon entry from resolving debt overhang are modest. The expected private gains to a single firm in the economy are larger than the long-run welfare gains from resolving this problem for all fir ...
... consistent with existing estimates in the corporate finance literature. We find the expected private gains upon entry from resolving debt overhang are modest. The expected private gains to a single firm in the economy are larger than the long-run welfare gains from resolving this problem for all fir ...
Capital Structure of SMEs: Does Firm Size Matter?
... research within a field of finance. Various imperfections, such as taxes, bankruptcy costs, agency conflicts, issues of asymmetric information and adverse selection, have been pointed out as explanations for the use of debt financing and synthesized into the trade-off and pecking order theories of c ...
... research within a field of finance. Various imperfections, such as taxes, bankruptcy costs, agency conflicts, issues of asymmetric information and adverse selection, have been pointed out as explanations for the use of debt financing and synthesized into the trade-off and pecking order theories of c ...
Pension Fund Asset Allocation and Liability Discount Rates
... investment costs and benchmark performance within various asset classes, thus taking asset allocation decisions as given. We find that U.S. public plans underperform the benchmarks by about 57 basis points a year, and their underperformance is substantially worse if the fund is more mature. A 10 per ...
... investment costs and benchmark performance within various asset classes, thus taking asset allocation decisions as given. We find that U.S. public plans underperform the benchmarks by about 57 basis points a year, and their underperformance is substantially worse if the fund is more mature. A 10 per ...
Buyout Activity: The Impact of Aggregate Discount Rates
... and relative mis-valuation can play a role. Motivated by our empirical findings, Malenko and Malenko (2014) provide an alternative theoretical model for the role of variation in risk premium for buyout activity. Rather than our basic tradeoff, they emphasize the ability of private-equity-owned firms ...
... and relative mis-valuation can play a role. Motivated by our empirical findings, Malenko and Malenko (2014) provide an alternative theoretical model for the role of variation in risk premium for buyout activity. Rather than our basic tradeoff, they emphasize the ability of private-equity-owned firms ...
Comprehensive Annual Financial Report
... California) insulated us from some of the large challenges that other cities endured during the economic downturn, but it also slows our growth that aids in economic recovery. Increased housing values over the last year have had a positive impact on stabilizing the assessed values of properties with ...
... California) insulated us from some of the large challenges that other cities endured during the economic downturn, but it also slows our growth that aids in economic recovery. Increased housing values over the last year have had a positive impact on stabilizing the assessed values of properties with ...
DHFL Pramerica Large Cap Fund
... higher than in May (5.76%). Most of the upward pressure came again from food inflation. Food inflation continued its upward journey printing at 7.4% as against 7.2% and 6.3% in the preceding two months, respectively. Core inflation offered some solace recording almost a 20 bps decline to 4.5% as com ...
... higher than in May (5.76%). Most of the upward pressure came again from food inflation. Food inflation continued its upward journey printing at 7.4% as against 7.2% and 6.3% in the preceding two months, respectively. Core inflation offered some solace recording almost a 20 bps decline to 4.5% as com ...
Form AUT – PFS Public Fund supplement
... before carrying out a Fund Manager’s instructions, that those instructions comply with the requirements of CIR 7.1.3. PF16. Please advise of the arrangements that the Trustee / Custody Provider will implement to ensure that the Fund’s unitholder register is maintained in accordance with CIR 8.7. and ...
... before carrying out a Fund Manager’s instructions, that those instructions comply with the requirements of CIR 7.1.3. PF16. Please advise of the arrangements that the Trustee / Custody Provider will implement to ensure that the Fund’s unitholder register is maintained in accordance with CIR 8.7. and ...
Xerox Corporation
... When valuing a firm it is critical to look at the ratio’s used by common analysts to understand the inner workings of the company. These ratios consist of liquidity, profitability, and capital structure. It is also important to forecast the financial statements out a significant amount of years or 1 ...
... When valuing a firm it is critical to look at the ratio’s used by common analysts to understand the inner workings of the company. These ratios consist of liquidity, profitability, and capital structure. It is also important to forecast the financial statements out a significant amount of years or 1 ...
Dynamic Factor Timing and the Predictability of Actively Managed
... We find that, overall, large-cap funds are more likely to have positive factor allocation components (both static and dynamic) relative to small-cap funds; i.e., active managers of large-cap funds are more likely to successfully time factor risk. By contrast, small-cap fund managers are less likely ...
... We find that, overall, large-cap funds are more likely to have positive factor allocation components (both static and dynamic) relative to small-cap funds; i.e., active managers of large-cap funds are more likely to successfully time factor risk. By contrast, small-cap fund managers are less likely ...
Does pension funds` fiduciary duty prohibit the integration of
... Our results provide zero indications that the integration of aggregated or disaggregated corporate environmental responsibility criteria into investment processes has detrimental financial performance effects for pension funds. More interestingly, we find evidence that corporate environmental respon ...
... Our results provide zero indications that the integration of aggregated or disaggregated corporate environmental responsibility criteria into investment processes has detrimental financial performance effects for pension funds. More interestingly, we find evidence that corporate environmental respon ...
January 31, 2017 - Tortoise Index Solutions
... Derivatives Risk. Derivatives are financial contracts whose value depend on, or are derived from, the value of an underlying asset, reference rate, or index. The use of derivative instruments involves risks different from, or possibly greater than, the risks associated with investing directly in sec ...
... Derivatives Risk. Derivatives are financial contracts whose value depend on, or are derived from, the value of an underlying asset, reference rate, or index. The use of derivative instruments involves risks different from, or possibly greater than, the risks associated with investing directly in sec ...
Equity Risk Premiums (ERP)
... • The amounts set aside by both corporations and governments to meet future pension fund and health care obligations are determined by their expectations of returns from investing in equity markets, i.e., their views on the equity risk premium. Assuming that the equity risk premium is 6% will lead t ...
... • The amounts set aside by both corporations and governments to meet future pension fund and health care obligations are determined by their expectations of returns from investing in equity markets, i.e., their views on the equity risk premium. Assuming that the equity risk premium is 6% will lead t ...
Trading Account: Items - IndiaStudyChannel.com
... Because of the fact that pure cash basis would result in balance sheet and income statement with limited use, it necessitates the need of mixed accounting in which some items (especially sales and period costs are treated on cash basis and some items (especially product costs and long-lived assets) ...
... Because of the fact that pure cash basis would result in balance sheet and income statement with limited use, it necessitates the need of mixed accounting in which some items (especially sales and period costs are treated on cash basis and some items (especially product costs and long-lived assets) ...
Annual Report - Putnam Investments
... lower. See pages 5 and 11–13 for additional performance information. For a portion of the periods, the fund had expense limitations, without which returns would have been lower. To obtain the most recent month-end performance, visit putnam.com. Recent performance may have benefited from one or mor ...
... lower. See pages 5 and 11–13 for additional performance information. For a portion of the periods, the fund had expense limitations, without which returns would have been lower. To obtain the most recent month-end performance, visit putnam.com. Recent performance may have benefited from one or mor ...
Investment Guide - REST Industry Super
... A mixture of Australian and overseas debt securities issued by governments, semi-government authorities and companies. Bonds typically have a fixed coupon paid on a regular basis and are exposed to both interest rate risk (the impact that changing interest rates have on bond values) and default risk ...
... A mixture of Australian and overseas debt securities issued by governments, semi-government authorities and companies. Bonds typically have a fixed coupon paid on a regular basis and are exposed to both interest rate risk (the impact that changing interest rates have on bond values) and default risk ...
An Empirical Assessment of Models of the Value Premium*
... Cooper (2006) makes the same link between profitability and B/M. If a firm has been hit by adverse profitability shocks, this firm’s B/M ratio is high because its market value falls while its book value remains fairly constant due to irreversibility. Such a firm is sensitive to aggregate shocks, an ...
... Cooper (2006) makes the same link between profitability and B/M. If a firm has been hit by adverse profitability shocks, this firm’s B/M ratio is high because its market value falls while its book value remains fairly constant due to irreversibility. Such a firm is sensitive to aggregate shocks, an ...
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.