Endowment and Similar Funds
... "The President is authorized to determine, consistent with any expressed intent of the donor, the purpose for which and the campus or other location at which a gift shall be used, to determine whether income and/or principal shall be used, and to make allocations and reallocations in accordance ther ...
... "The President is authorized to determine, consistent with any expressed intent of the donor, the purpose for which and the campus or other location at which a gift shall be used, to determine whether income and/or principal shall be used, and to make allocations and reallocations in accordance ther ...
Asset Write-down - Rutgers University
... John and Ofek (1995) examine 321 divestitures of business operating units that are sold for at least one hundred million dollars. It would seem likely that firms take longer to find buyers when such large selling prices are involved, enabling the market to learn more about the problems firms are fac ...
... John and Ofek (1995) examine 321 divestitures of business operating units that are sold for at least one hundred million dollars. It would seem likely that firms take longer to find buyers when such large selling prices are involved, enabling the market to learn more about the problems firms are fac ...
Determinants of Capital Structure: Evidence from a Major
... methods. Despite considerable progress, the issue is yet to be settled, both for developed and developing economies, and more so for the latter. A major shortcoming in developing economy capital structure studies, including Turkey, is that they generally restrict their analyses to manufacturing firm ...
... methods. Despite considerable progress, the issue is yet to be settled, both for developed and developing economies, and more so for the latter. A major shortcoming in developing economy capital structure studies, including Turkey, is that they generally restrict their analyses to manufacturing firm ...
Money Market Funds - Fort Pitt Capital Group
... that pay interest that is exempt from federal income tax, including the federal alternative minimum tax. The municipal securities in which the fund invests include variable rate demand notes, which are floating rate instruments with a one- or seven-day put option that typically have some form of ext ...
... that pay interest that is exempt from federal income tax, including the federal alternative minimum tax. The municipal securities in which the fund invests include variable rate demand notes, which are floating rate instruments with a one- or seven-day put option that typically have some form of ext ...
Required Documents and Guidance Notes for Investment
... 3. Juridical persons applying for its change of name are not required to attach new Power of Attorney (POA) Certificates in its new name. 4. Detailing preconditions for non-ROC enterprises to be an eligible participant of merger and acquisition: (1) Enterprises with substantial business operations. ...
... 3. Juridical persons applying for its change of name are not required to attach new Power of Attorney (POA) Certificates in its new name. 4. Detailing preconditions for non-ROC enterprises to be an eligible participant of merger and acquisition: (1) Enterprises with substantial business operations. ...
Financing Infrastructure - Inter
... depending, among other factors, on whether the improvement is perceived as permanent or transitory. Even when improvements last more than two or three years, the additional savings may not be invested. Bolivia, for example, experienced a dramatic increase in saving after 2005, but these additional s ...
... depending, among other factors, on whether the improvement is perceived as permanent or transitory. Even when improvements last more than two or three years, the additional savings may not be invested. Bolivia, for example, experienced a dramatic increase in saving after 2005, but these additional s ...
Debt Structure and Financial Flexibility
... structure, the security profile, and the seniority profile. I measure the total level of debt as market leverage (M kt lev): book value of debt divided by the sum of book value of debt plus market value of equity. As an alternative, I also use the book value of leverage (Book lev), which is equal to ...
... structure, the security profile, and the seniority profile. I measure the total level of debt as market leverage (M kt lev): book value of debt divided by the sum of book value of debt plus market value of equity. As an alternative, I also use the book value of leverage (Book lev), which is equal to ...
Regulation of CrowdFunding in Germany, the UK, Spain and Italy
... raised in this way, entrepreneurs have access to capital, create social impact, innovative products and services, cultural variety, jobs and contribute to economic growth. To put this into context, the European Commission estimates that there are some 23 million small and medium sized enterprises (“ ...
... raised in this way, entrepreneurs have access to capital, create social impact, innovative products and services, cultural variety, jobs and contribute to economic growth. To put this into context, the European Commission estimates that there are some 23 million small and medium sized enterprises (“ ...
Regulatory Guide RG 240 Hedge funds: Improving disclosure
... investment decisions, service providers, fund strategies and fund assets. Where a hedge fund has invested in one or more significant underlying funds (being an underlying fund that accounts for 35% or more of the fund of hedge fund’s assets), the benchmarks and disclosure principles in this guide sh ...
... investment decisions, service providers, fund strategies and fund assets. Where a hedge fund has invested in one or more significant underlying funds (being an underlying fund that accounts for 35% or more of the fund of hedge fund’s assets), the benchmarks and disclosure principles in this guide sh ...
Time-varying risk premia and the cost of capital
... stock market indexes in excess of a short-term interest rate vary over time (excess returns are forecastable). Moreover, this variation is found to be quite large relative to variation in expected real interest rates.1 These findings suggest that a large fraction of the variation in the cost of capit ...
... stock market indexes in excess of a short-term interest rate vary over time (excess returns are forecastable). Moreover, this variation is found to be quite large relative to variation in expected real interest rates.1 These findings suggest that a large fraction of the variation in the cost of capit ...
KDE Capital Asset Guide
... Modifications, attachments, accessories or apparatus necessary to make the asset usable. Ancillary charges necessary to place the asset in its intended location, such as freight, transportation charges, site preparation costs and professional fees. Capitalized interest of assets constructed or other ...
... Modifications, attachments, accessories or apparatus necessary to make the asset usable. Ancillary charges necessary to place the asset in its intended location, such as freight, transportation charges, site preparation costs and professional fees. Capitalized interest of assets constructed or other ...
Agarwal Daniel Naik
... performance and chose funds on that basis, when future performance seems to be unrelated to past performance. To resolve this puzzle, Berk and Green (2002) present a model of active portfolio management where such behavior arises as a rational response on the part of the investors. They argue that ...
... performance and chose funds on that basis, when future performance seems to be unrelated to past performance. To resolve this puzzle, Berk and Green (2002) present a model of active portfolio management where such behavior arises as a rational response on the part of the investors. They argue that ...
Hedge Fund Innovation - American Economic Association
... light regulation give hedge funds the opportunity to follow investment strategies that are not directly available to mutual funds, for example. The excess returns and changing risk exposures as documented in the literature are a witness of their exceptional institutional structure, see (Fung and Hsi ...
... light regulation give hedge funds the opportunity to follow investment strategies that are not directly available to mutual funds, for example. The excess returns and changing risk exposures as documented in the literature are a witness of their exceptional institutional structure, see (Fung and Hsi ...
Deactivating Active Share
... replicate Table 5 from Petajisto (2013) and report net of fee annualized performance of the five mutual fund portfolios highlighted in Cremers and Petajisto (2009) and Petajisto (2013) over the period 1990-2009. The portfolios are based on a two-way sort on Active Share and on the tracking error, us ...
... replicate Table 5 from Petajisto (2013) and report net of fee annualized performance of the five mutual fund portfolios highlighted in Cremers and Petajisto (2009) and Petajisto (2013) over the period 1990-2009. The portfolios are based on a two-way sort on Active Share and on the tracking error, us ...
Credit Suisse Global Investment Returns Yearbook 2013
... implicitly use to price bonds are called spot rates. They can be estimated from either bond prices or strip prices. When yield curves slope upward, yields understate spot rates, as can be seen in Figure 4, which also plots the forward interest rates implied by the spot rates. These represent today’s ...
... implicitly use to price bonds are called spot rates. They can be estimated from either bond prices or strip prices. When yield curves slope upward, yields understate spot rates, as can be seen in Figure 4, which also plots the forward interest rates implied by the spot rates. These represent today’s ...
Deutsche AM Flagship Fund Reporting
... When the custodian sets the price on the last trading day of the month there can be a difference of up to ten hours between the times at which the fund price and the benchmark are calculated. In the event of strong market movements during this period, this may result in the over- or understatement o ...
... When the custodian sets the price on the last trading day of the month there can be a difference of up to ten hours between the times at which the fund price and the benchmark are calculated. In the event of strong market movements during this period, this may result in the over- or understatement o ...
clear invest
... range of assets increases the diversification of each Multi Asset Portfolio Fund. We recommend that you diversify your investment by not putting all your ‘eggs in one basket’ and these funds allow you to do just that. Greater diversification also aims to reduce the volatility of the fund, which is a ...
... range of assets increases the diversification of each Multi Asset Portfolio Fund. We recommend that you diversify your investment by not putting all your ‘eggs in one basket’ and these funds allow you to do just that. Greater diversification also aims to reduce the volatility of the fund, which is a ...
A Cross-sectional Analysis Of Malaysian Unit Trust Fund Expense
... funds with higher portfolio turnover are associated with higher expense ratios. The authors find no evidence that a fund’s expense ratio is related to the fund’s risk level and investment objective. In a related study, Berkowitz and Kotowitz (2004) examine the relation between fees charged by mutual ...
... funds with higher portfolio turnover are associated with higher expense ratios. The authors find no evidence that a fund’s expense ratio is related to the fund’s risk level and investment objective. In a related study, Berkowitz and Kotowitz (2004) examine the relation between fees charged by mutual ...
Financing Innovation Working Paper
... In a frictionless world, where all positive NPV projects are financed, one should not expect the sources of finance to impact the nature of innovation being conducted by a firm. At least four features of the R&D process, however, introduce important frictions, and these frictions can lead to financi ...
... In a frictionless world, where all positive NPV projects are financed, one should not expect the sources of finance to impact the nature of innovation being conducted by a firm. At least four features of the R&D process, however, introduce important frictions, and these frictions can lead to financi ...
Leverage and Capital Structure
... return and risk. Unlike some causes of risk, management has almost complete control over the risk introduced through the use of leverage. Because of its effect on value, the financial manager must understand how to measure and evaluate leverage, particularly when making capital structure decisions. ...
... return and risk. Unlike some causes of risk, management has almost complete control over the risk introduced through the use of leverage. Because of its effect on value, the financial manager must understand how to measure and evaluate leverage, particularly when making capital structure decisions. ...
Forthcoming, Journal of Empirical Finance Measuring The Market
... The last decade witnessed a growing interest in hedge funds from investors, academics and regulators. ...
... The last decade witnessed a growing interest in hedge funds from investors, academics and regulators. ...
Individual Investor Mutual Fund Flows
... to play much less of a role in the domain of individuals’ mutual fund investments than they do in the domain of investment in individual stocks. In further support for tax-motivated trading, we find that taxable investors’ redemption decisions are sensitive to proxies for future distribution behavior ...
... to play much less of a role in the domain of individuals’ mutual fund investments than they do in the domain of investment in individual stocks. In further support for tax-motivated trading, we find that taxable investors’ redemption decisions are sensitive to proxies for future distribution behavior ...
NBER WORKING PAPER SERIES INDIVIDUAL INVESTOR MUTUAL-FUND FLOWS Zoran Ivkovich Scott Weisbenner
... redemption side. That notion, however, is not grounded in a direct inquiry into the patterns of inflows and outflows, and it might well be that redemptions are related to past performance. Also, inflows and outflows might be related to other fund characteristics very differently. This paper studies ...
... redemption side. That notion, however, is not grounded in a direct inquiry into the patterns of inflows and outflows, and it might well be that redemptions are related to past performance. Also, inflows and outflows might be related to other fund characteristics very differently. This paper studies ...
cordros money market fund - Cordros Asset Management
... Rules and Regulations for the purpose of inviting the general public to subscribe to the Offer. ...
... Rules and Regulations for the purpose of inviting the general public to subscribe to the Offer. ...
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.