the effect of dividend announcement on stock returns for companies
... that in a perfect world where there is no corporate and personal taxes, no &ansaction and flotation costs, no single individual who can affect a security's price through hisher trade, all individuals have similar expectations with respect to a company's future investment and profit, and where a comp ...
... that in a perfect world where there is no corporate and personal taxes, no &ansaction and flotation costs, no single individual who can affect a security's price through hisher trade, all individuals have similar expectations with respect to a company's future investment and profit, and where a comp ...
Cash Reserves Fund
... under which the fund (buyer) purchases a security, usually a U.S. government or agency security, from a bank or well-established securities dealer (seller) that requires the seller to repurchase the securities from the fund at a specific price on a designated date (which is often the next business d ...
... under which the fund (buyer) purchases a security, usually a U.S. government or agency security, from a bank or well-established securities dealer (seller) that requires the seller to repurchase the securities from the fund at a specific price on a designated date (which is often the next business d ...
Self-Study Guide to Hedging with Livestock Futures
... ever result in actual delivery of the physical commodity. The great majority of futures contracts are closed out, or “offset” prior to delivery by taking an opposite position in the same contract and delivery month. In other words, if someone initially buys a futures contract for a specific product ...
... ever result in actual delivery of the physical commodity. The great majority of futures contracts are closed out, or “offset” prior to delivery by taking an opposite position in the same contract and delivery month. In other words, if someone initially buys a futures contract for a specific product ...
Futurization of Swaps
... the New York Stock Exchange) had tried and failed to merge with Germany’s largest exchange, Deutsche Boerse. The venerable Big Board, which has been around since the late 18th century, is now willing to turn over its keys to the Atlanta-based ICE, a relative upstart launched in 2000. With the merger ...
... the New York Stock Exchange) had tried and failed to merge with Germany’s largest exchange, Deutsche Boerse. The venerable Big Board, which has been around since the late 18th century, is now willing to turn over its keys to the Atlanta-based ICE, a relative upstart launched in 2000. With the merger ...
Corporate Bond Trading on a Limit Order Book Exchange by
... we find that at the TASE 8.8% of the NIS double-sided volume arises from RI. 9 The participation of RI contributes to the liquidity in several ways. In 27% of their NIS volume the RI act as "makers". In a regression analysis we find that, as a "maker" a non-STT is related to a percentage decrease o ...
... we find that at the TASE 8.8% of the NIS double-sided volume arises from RI. 9 The participation of RI contributes to the liquidity in several ways. In 27% of their NIS volume the RI act as "makers". In a regression analysis we find that, as a "maker" a non-STT is related to a percentage decrease o ...
Dominated assets, the expected utility maxim, and mean
... dominated asset is included in the menu of investment opportunities. Asset A dominates asset B if (1) the cash payments to A are at least as high as those to B and strictly greater than the payoff to B in at least one possible state outcome, and (2) if the current price of A is less than or equal to ...
... dominated asset is included in the menu of investment opportunities. Asset A dominates asset B if (1) the cash payments to A are at least as high as those to B and strictly greater than the payoff to B in at least one possible state outcome, and (2) if the current price of A is less than or equal to ...
ROADRUNNER TRANSPORTATION SYSTEMS - corporate
... Our goal is to be the leading asset-light transportation and logistics service provider in North America. Our strategy includes continuing to: Gain New Customers. We continue to expand our customer base, and we will continue to pursue increased market share in the TL, LTL, and TMS markets. Our expan ...
... Our goal is to be the leading asset-light transportation and logistics service provider in North America. Our strategy includes continuing to: Gain New Customers. We continue to expand our customer base, and we will continue to pursue increased market share in the TL, LTL, and TMS markets. Our expan ...
Voya Senior Income Fund Repurchase Offer Notice
... exchange treatment. If the transaction is so treated, any recognized gain or loss will be treated as a capital gain or loss by shareholders who hold their shares as a capital asset and as a long-term capital gain or loss if such shares have been held for more than twelve months. If the transaction i ...
... exchange treatment. If the transaction is so treated, any recognized gain or loss will be treated as a capital gain or loss by shareholders who hold their shares as a capital asset and as a long-term capital gain or loss if such shares have been held for more than twelve months. If the transaction i ...
My Life in Finance - The University of Chicago Booth School of
... return on the bill. The model of market equilibrium in “Short-Term Interest Rates as Predictors of Inflation” assumes that the expected real return is constant, and this seems to be a reasonable approximation for the 1953-1971 period of the tests. (It doesn’t work for any later period.) This result ...
... return on the bill. The model of market equilibrium in “Short-Term Interest Rates as Predictors of Inflation” assumes that the expected real return is constant, and this seems to be a reasonable approximation for the 1953-1971 period of the tests. (It doesn’t work for any later period.) This result ...
Option Trading: Information or Differences of
... Schwartz and Subrahmanyam, 2008). However, equally convincing evidence was also presented by other authors who showed that 1) informed trading doesn’t exist in options (Vijh, 1990), 2) the option volume does not lead stock prices (Chan, Chung and Johnson, 1993; and Chan, Chung and Fong, 2002), and ...
... Schwartz and Subrahmanyam, 2008). However, equally convincing evidence was also presented by other authors who showed that 1) informed trading doesn’t exist in options (Vijh, 1990), 2) the option volume does not lead stock prices (Chan, Chung and Johnson, 1993; and Chan, Chung and Fong, 2002), and ...
News Release Issued on behalf of Reed Elsevier PLC and Reed
... This announcement contains forward-looking statements within the meaning of Section 27A of the US Securities Act 1933, as amended, and Section 21E of the US Securities Exchange Act 1934, as amended. These statements are subject to a number of risks and uncertainties and actual results and events cou ...
... This announcement contains forward-looking statements within the meaning of Section 27A of the US Securities Act 1933, as amended, and Section 21E of the US Securities Exchange Act 1934, as amended. These statements are subject to a number of risks and uncertainties and actual results and events cou ...
Market Design with Blockchain Technology
... sense of knowing who is interested in trading the security is arguably useful for investors on either side of a trade, and this knowledge is critical for a dealer’s success. Undoubtedly, transparency about investors’ holdings and trades can have downsides. For instance, investors may copy portfolios ...
... sense of knowing who is interested in trading the security is arguably useful for investors on either side of a trade, and this knowledge is critical for a dealer’s success. Undoubtedly, transparency about investors’ holdings and trades can have downsides. For instance, investors may copy portfolios ...
Press Release on July 15, 2016 by MITSUMI
... With regard to the acquisition by the Company of its own shares, the Company, at the meeting of its Board of Directors held today, adopted a resolution to establish a limit on the acquisition cost at a maximum ¥5 billion and the acquisition period from (and including) July 17, 2015 to (and including ...
... With regard to the acquisition by the Company of its own shares, the Company, at the meeting of its Board of Directors held today, adopted a resolution to establish a limit on the acquisition cost at a maximum ¥5 billion and the acquisition period from (and including) July 17, 2015 to (and including ...
Investor Expectations and the Volatility Puzzle in the Japanese
... high returns and investors do not acknowledge this, high volatility stocks have lower future returns. In the second hypothesis, not relating to earnings variability, the volatility effect is caused by the tendency that investors and securities analysts prefer high volatility stocks and take an optim ...
... high returns and investors do not acknowledge this, high volatility stocks have lower future returns. In the second hypothesis, not relating to earnings variability, the volatility effect is caused by the tendency that investors and securities analysts prefer high volatility stocks and take an optim ...
TRANCHING, CDS, AND ASSET PRICES: HOW FINANCIAL
... Notes: Observe that the down payment axis has been reversed because lower down payment requirements are correlated with higher home prices. For every Alt A or subprime first loan originated from 2000:Q1 to 2008:Q1, down payment percentage was calculated as appraised value (or sale price if available ...
... Notes: Observe that the down payment axis has been reversed because lower down payment requirements are correlated with higher home prices. For every Alt A or subprime first loan originated from 2000:Q1 to 2008:Q1, down payment percentage was calculated as appraised value (or sale price if available ...
RADIUS GOLD INC. (Form: 20-F/A, Received: 11/04
... Additional equity financings may dilute the ownership interests of existing shareholders; If the Company is unable to retain key members of management, the Company’s business might be harmed; Conflicts of interest may arise among the Company’s officers and directors as a result of their involvement ...
... Additional equity financings may dilute the ownership interests of existing shareholders; If the Company is unable to retain key members of management, the Company’s business might be harmed; Conflicts of interest may arise among the Company’s officers and directors as a result of their involvement ...
Forecasting stock market returns: The sum of the parts is more than
... Our results are robust in subsamples and in international data. The SOP method performs remarkably well on data from the UK and Japan, where predictability in stock returns is even stronger than in the US. The economic gains from a trading strategy that uses the simplest version of the SOP method ar ...
... Our results are robust in subsamples and in international data. The SOP method performs remarkably well on data from the UK and Japan, where predictability in stock returns is even stronger than in the US. The economic gains from a trading strategy that uses the simplest version of the SOP method ar ...
An Empirical Analysis of the Limit Order Book and the Order
... state of the book, and influences the subsequent evolution of the order book and trading activity in the market. The Paris Bourse offers a particularly appropriate testing ground for examining these issues because 1) it relies solely upon order placement, 2) time and price priority is strictly enfor ...
... state of the book, and influences the subsequent evolution of the order book and trading activity in the market. The Paris Bourse offers a particularly appropriate testing ground for examining these issues because 1) it relies solely upon order placement, 2) time and price priority is strictly enfor ...
The Effect of the Quality of Rumors On Market Yields
... In comparing between a many rumors company (a company with more than one rumor concerning a future event relating to the company) and a single rumor company (a company with only one rumor as to a future event) we can say that there is no significant difference between the two cases in the period bef ...
... In comparing between a many rumors company (a company with more than one rumor concerning a future event relating to the company) and a single rumor company (a company with only one rumor as to a future event) we can say that there is no significant difference between the two cases in the period bef ...
Growth Expectations, Dividend Yields, and Future Stock Returns
... such relative out-of-sample performance. We find that stock yield produces an out-of-sample R2 consistently above 2% for monthly forecasts in our sample period. According to the calculation in Campbell and Thompson (2008), an out-of-sample R2 of 2% translates to return enhancement of 8% per year fo ...
... such relative out-of-sample performance. We find that stock yield produces an out-of-sample R2 consistently above 2% for monthly forecasts in our sample period. According to the calculation in Campbell and Thompson (2008), an out-of-sample R2 of 2% translates to return enhancement of 8% per year fo ...
MERCURY GENERAL CORP (Form: 424B5
... Neither this prospectus supplement nor the accompanying prospectus is a prospectus for the purposes of the Prospectus Directive (as defined below). This prospectus supplement and the accompanying prospectus have been prepared on the basis that any offer of notes in any Member State of the European E ...
... Neither this prospectus supplement nor the accompanying prospectus is a prospectus for the purposes of the Prospectus Directive (as defined below). This prospectus supplement and the accompanying prospectus have been prepared on the basis that any offer of notes in any Member State of the European E ...
Short (finance)
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In finance, short selling (also known as shorting or going short) is the practice of selling securities or other financial instruments that are not currently owned, and subsequently repurchasing them (""covering""). In the event of an interim price decline, the short seller will profit, since the cost of (re)purchase will be less than the proceeds which were received upon the initial (short) sale. Conversely, the short position will be closed out at a loss in the event that the price of a shorted instrument should rise prior to repurchase. The potential loss on a short sale is theoretically unlimited in the event of an unlimited rise in the price of the instrument, however in practice the short seller will be required to post margin or collateral to cover losses, and any inability to do so on a timely basis would cause its broker or counterparty to liquidate the position. In the securities markets, the seller generally must borrow the securities in order to effect delivery in the short sale. In some cases, the short seller must pay a fee to borrow the securities and must additionally reimburse the lender for cash returns the lender would have received had the securities not been loaned out.Short selling is most commonly done with instruments traded in public securities, futures or currency markets, due to the liquidity and real-time price dissemination characteristic of such markets and because the instruments defined within each class are fungible.In practical terms, going short can be considered the opposite of the conventional practice of ""going long"", whereby an investor profits from an increase in the price of the asset. Mathematically, the return from a short position is equivalent to that of owning (being ""long"") a negative amount of the instrument. A short sale may be motivated by a variety of objectives. Speculators may sell short in the hope of realizing a profit on an instrument which appears to be overvalued, just as long investors or speculators hope to profit from a rise in the price of an instrument which appears undervalued. Traders or fund managers may hedge a long position or a portfolio through one or more short positions.