S2AV: A valuation methodology for insurance companies
... valuation methodology focuses on these metrics. However, we note that there may be additional constraints on distribution of surplus, which are discussed later. Our basic goal has been to develop a methodology which measures value as the net present value of future expected distributable profits at ...
... valuation methodology focuses on these metrics. However, we note that there may be additional constraints on distribution of surplus, which are discussed later. Our basic goal has been to develop a methodology which measures value as the net present value of future expected distributable profits at ...
Access to finance, working capital management and company value
... In the Brazilian context, we can state that academic research on working capital management is very limited and, moreover, the consulted Brazilian studies also relate to individual aspects of company management of working capital. In relation to trade credit, Bandeira (2008) confirms the hypotheses o ...
... In the Brazilian context, we can state that academic research on working capital management is very limited and, moreover, the consulted Brazilian studies also relate to individual aspects of company management of working capital. In relation to trade credit, Bandeira (2008) confirms the hypotheses o ...
FY 2016 Results - Direct Line Group
... prospects, growth, strategies and the industry in which the Group operates. Examples of forward-looking statements include financial targets which are contained in this document specifically with respect to return on tangible equity, risk-based capital coverage ratio, the Group’s combined operating ...
... prospects, growth, strategies and the industry in which the Group operates. Examples of forward-looking statements include financial targets which are contained in this document specifically with respect to return on tangible equity, risk-based capital coverage ratio, the Group’s combined operating ...
The Influence of Macroeconomic Factors on Stock Markets
... foreign exchange market of France, Italy, Japan, and the United States have significant volatility spillovers and/or asymmetric effects from these stock markets. Madaleno et al. examined the influence of expectations over international stock returns and macroeconomic three independent variables name ...
... foreign exchange market of France, Italy, Japan, and the United States have significant volatility spillovers and/or asymmetric effects from these stock markets. Madaleno et al. examined the influence of expectations over international stock returns and macroeconomic three independent variables name ...
Accrued Interest on Debt Securities with a Fixed Rate of
... underlies the whole of the System of National Accounts and Balance of Payments concepts; that is, cash based, or even “due for payment”, accounting is not appropriate. SNA93 states: “Accrual accounting records flows at the time economic value is created, transformed, exchanged or extinguished. This ...
... underlies the whole of the System of National Accounts and Balance of Payments concepts; that is, cash based, or even “due for payment”, accounting is not appropriate. SNA93 states: “Accrual accounting records flows at the time economic value is created, transformed, exchanged or extinguished. This ...
Pension Liabilities: Fear Tactics and Serious Policy
... where price-to-earnings (PE) ratios in the stock market grow out of line with historic patterns. Such periods virtually guarantee a period of below-normal returns. During such periods, a pension fund that does not adjust its expected returns, and therefore its funding levels, will end up substantial ...
... where price-to-earnings (PE) ratios in the stock market grow out of line with historic patterns. Such periods virtually guarantee a period of below-normal returns. During such periods, a pension fund that does not adjust its expected returns, and therefore its funding levels, will end up substantial ...
Net Cash Flow from Operating Activities
... Similarly, it is assumed that accounts payable are used merely for purchases on account and that all purchases are on credit. If there are cash purchases as well, then cash payments for them must be included in the cash paid to suppliers. It is important to note that here may be receipts & payments ...
... Similarly, it is assumed that accounts payable are used merely for purchases on account and that all purchases are on credit. If there are cash purchases as well, then cash payments for them must be included in the cash paid to suppliers. It is important to note that here may be receipts & payments ...
Realpool Investment Fund - British Columbia Investment
... Comprehensive Income. The Fund’s investments are designated as FVTPL. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value of financial assets and liabilities trad ...
... Comprehensive Income. The Fund’s investments are designated as FVTPL. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value of financial assets and liabilities trad ...
Quarterly International Investment Position and External Debt - Background Notes
... These assets and liabilities include land, other real property and other immovable items. In addition, monetary gold and special drawing rights (SDRs) owned by residents of the economy are included. It may be of analytical interest to compute the difference between the two sides of the balance sheet ...
... These assets and liabilities include land, other real property and other immovable items. In addition, monetary gold and special drawing rights (SDRs) owned by residents of the economy are included. It may be of analytical interest to compute the difference between the two sides of the balance sheet ...
Stocks Gain on Stimulus Optimism
... Stocks responded to the Federal Reserve’s minutes of its last FOMC meeting and chairman Ben Bernanke’s comments late Wednesday and soared. His remarks energised investors across the globe and sent US stock indexes to all-time highs. Bernanke said that the economy still needs "highly accommodative mo ...
... Stocks responded to the Federal Reserve’s minutes of its last FOMC meeting and chairman Ben Bernanke’s comments late Wednesday and soared. His remarks energised investors across the globe and sent US stock indexes to all-time highs. Bernanke said that the economy still needs "highly accommodative mo ...
Investment Protection and Investor-to
... past. It presents the concrete improvements made by the Commission to investment provisions in EU trade agreements and which will be included in future agreements. Investment protection provisions, including investor-state dispute settlement are important for investment flows. They have generally wo ...
... past. It presents the concrete improvements made by the Commission to investment provisions in EU trade agreements and which will be included in future agreements. Investment protection provisions, including investor-state dispute settlement are important for investment flows. They have generally wo ...
Discounting: A Review of the Basic Economics
... In many interesting and relevant cases, this sum will be infinite. In fact, it will be infinite for all consumption sequences on which utility levels are bounded away from zero, and on many others as well. This means that we cannot now represent choosing the best consumption sequence as finding the ...
... In many interesting and relevant cases, this sum will be infinite. In fact, it will be infinite for all consumption sequences on which utility levels are bounded away from zero, and on many others as well. This means that we cannot now represent choosing the best consumption sequence as finding the ...
New Tax Rules for Offshore Portfolio Investment in Shares
... person with a 31 December balance date, the new rules apply from the start of their 2008-09 income year on 1 January 2008. For late balance date taxpayers, the new tax rules apply from the start of their 2007-08 income year; for example, for a person with a 30 June balance date, the new rules apply ...
... person with a 31 December balance date, the new rules apply from the start of their 2008-09 income year on 1 January 2008. For late balance date taxpayers, the new tax rules apply from the start of their 2007-08 income year; for example, for a person with a 30 June balance date, the new rules apply ...
NBER WORKING PAPER MARKETS AND PLANNING
... the lump-stir transfer s to rebate the public of the net tax collection generated by credit market policies. To simplify, we focus on the case where investment decisions are carried only in the first period, and we assume equality of output in the The role of ...
... the lump-stir transfer s to rebate the public of the net tax collection generated by credit market policies. To simplify, we focus on the case where investment decisions are carried only in the first period, and we assume equality of output in the The role of ...
Chapter 5
... e. Convertible bonds are securities that are convertible into shares of common stock, at a fixed price, at the option of the bondholder. Bonds issued with warrants are similar to convertibles. Warrants are options which permit the holder to buy stock for a stated price, thereby providing a capital g ...
... e. Convertible bonds are securities that are convertible into shares of common stock, at a fixed price, at the option of the bondholder. Bonds issued with warrants are similar to convertibles. Warrants are options which permit the holder to buy stock for a stated price, thereby providing a capital g ...
Chapter 2: Investment and Physical Capital
... Analysis of investment decisions can be broken down into two components: the gap between the desired and actual capital stock, and the optimal path in closing this gap. Much of the analysis of investment in Russia implicitly focuses on the latter problem, given the emphasis on corporate governance a ...
... Analysis of investment decisions can be broken down into two components: the gap between the desired and actual capital stock, and the optimal path in closing this gap. Much of the analysis of investment in Russia implicitly focuses on the latter problem, given the emphasis on corporate governance a ...
Assessing profitability in competition policy analysis
... suggests that the internal rate of return (IRR) and the net present value (NPV) are the conceptually correct measures of profitability of an activity (an investment, a line of business, or a company). The literature has also developed a framework for applying the IRR methodology using accounting dat ...
... suggests that the internal rate of return (IRR) and the net present value (NPV) are the conceptually correct measures of profitability of an activity (an investment, a line of business, or a company). The literature has also developed a framework for applying the IRR methodology using accounting dat ...
O Are We Investing Too Little?
... business expenditures on equipment and nonresidential structures that are the focus of most concerns about output and productivity growth but also residential investment, government investment, and business inventories. It also includes net foreign investment, which is the difference between the acq ...
... business expenditures on equipment and nonresidential structures that are the focus of most concerns about output and productivity growth but also residential investment, government investment, and business inventories. It also includes net foreign investment, which is the difference between the acq ...
investment
... Portfolio is simply collection of investment assets The asset allocation decision is the choice among broad asset classes such as stocks, bonds, real estate, commodities, and so on. Top-down portfolio construction starts with asset allocation. The security selection decision is the choice of whi ...
... Portfolio is simply collection of investment assets The asset allocation decision is the choice among broad asset classes such as stocks, bonds, real estate, commodities, and so on. Top-down portfolio construction starts with asset allocation. The security selection decision is the choice of whi ...
chapter 10: arbitrage pricing theory and multifactor models of risk
... This question appears to point to a flaw in the FF model. The model predicts that firm size affects average returns, so that, if two firms merge into a larger firm, then the FF model predicts lower average returns for the merged firm. However, there seems to be no reason for the merged firm to under ...
... This question appears to point to a flaw in the FF model. The model predicts that firm size affects average returns, so that, if two firms merge into a larger firm, then the FF model predicts lower average returns for the merged firm. However, there seems to be no reason for the merged firm to under ...