Equilibrium interest rate and liquidity premium under
... smoothing thereby raising the equity premium. In addition, they endogenize the rate of return ...
... smoothing thereby raising the equity premium. In addition, they endogenize the rate of return ...
UCITS Application Form Section 10 Sub
... secondary market cannot usually be sold directly back to the UCITS ETF. Investors must buy and sell units on a secondary market with the assistance of an intermediary (e.g. a stockbroker) and may incur fees for doing so. In addition, investors may pay more than the current net asset value when buyin ...
... secondary market cannot usually be sold directly back to the UCITS ETF. Investors must buy and sell units on a secondary market with the assistance of an intermediary (e.g. a stockbroker) and may incur fees for doing so. In addition, investors may pay more than the current net asset value when buyin ...
Inflation and Real Estate Investments
... whose returns respond to inflation during the same month are of value to investors as inflation protection. Returns of some assets, though, may be sensitive to inflation with a lag, especially when inflation is unexpected. For example, even U.S. Treasury Inflation Protected Securities (TIPS), which ...
... whose returns respond to inflation during the same month are of value to investors as inflation protection. Returns of some assets, though, may be sensitive to inflation with a lag, especially when inflation is unexpected. For example, even U.S. Treasury Inflation Protected Securities (TIPS), which ...
Income Statement
... * Due to the nature of this project, it is very difficult to estimate the amount of time students will need to complete the assignment. As with any open-ended project, it is possible for students to devote a large amount of time to these assignments. While students often benefit from the extra effor ...
... * Due to the nature of this project, it is very difficult to estimate the amount of time students will need to complete the assignment. As with any open-ended project, it is possible for students to devote a large amount of time to these assignments. While students often benefit from the extra effor ...
Form ADV 2A – Firm Brochure - HD Vest Financial Services
... the amount of anticipated trading activity when selecting among different types of accounts and assessing the overall cost. If there are prolonged periods of infrequent trading or your portfolio contains significant cash holdings, an advisory account will probably result in higher overall expenses t ...
... the amount of anticipated trading activity when selecting among different types of accounts and assessing the overall cost. If there are prolonged periods of infrequent trading or your portfolio contains significant cash holdings, an advisory account will probably result in higher overall expenses t ...
Reforms of Baltic States Pension Systems: Challenges and
... undertaken and executed a reform of Latvian pension system. Following, in 2001 the reform was completed and a new three pillar pension system was introduced. A new system was introduced to perceive flexibly the actual growing demographic risks (low fertility rates in 90s of previous century, increas ...
... undertaken and executed a reform of Latvian pension system. Following, in 2001 the reform was completed and a new three pillar pension system was introduced. A new system was introduced to perceive flexibly the actual growing demographic risks (low fertility rates in 90s of previous century, increas ...
The Role of Organizational Structure
... related suggest that any test of their role of the organization should account for them jointly. Not being able to control for one of the two dimensions may provide spurious results. The goal of this paper is to use a novel dataset on vertical structure and specialties to jointly estimate their role ...
... related suggest that any test of their role of the organization should account for them jointly. Not being able to control for one of the two dimensions may provide spurious results. The goal of this paper is to use a novel dataset on vertical structure and specialties to jointly estimate their role ...
Balance of Payments Manual
... based on an appropriate and analytically oriented methodology are an indispensable tool for economic analysis and policy making. Indeed, with the growing interdependence of the world’s economies, the need for such statistics—which reflects in part the underlying movement towards greater liberalizati ...
... based on an appropriate and analytically oriented methodology are an indispensable tool for economic analysis and policy making. Indeed, with the growing interdependence of the world’s economies, the need for such statistics—which reflects in part the underlying movement towards greater liberalizati ...
stock market overreaction and trading volume
... strategy are able to profit from this overreaction. The contrarian strategy involves selling winning stocks and buying losing stocks in the anticipation that the prices will reverse. As noted by Lobe and Rieks (2011), the literature on non-US short-term overreaction is limited compared to that on lo ...
... strategy are able to profit from this overreaction. The contrarian strategy involves selling winning stocks and buying losing stocks in the anticipation that the prices will reverse. As noted by Lobe and Rieks (2011), the literature on non-US short-term overreaction is limited compared to that on lo ...
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... the January 1993 December 1997 subperiod. In this subperiod, we get the evidence of the statistically significant one-day lagged effect of large cap portfolio returns on small cap portfolio returns. There is also an effect of one-day lagged small cap portfolio returns on large cap portfolio returns ...
... the January 1993 December 1997 subperiod. In this subperiod, we get the evidence of the statistically significant one-day lagged effect of large cap portfolio returns on small cap portfolio returns. There is also an effect of one-day lagged small cap portfolio returns on large cap portfolio returns ...
On the interplay between speculative bubbles and productive
... the unconstrained case, which implies that capital is lower than the golden rule level. This allows us to discuss the e¤ect of …nancial regulation on the longrun allocation. As a main insight with clear policy implications, we show that deregulation is associated to larger levels of production and c ...
... the unconstrained case, which implies that capital is lower than the golden rule level. This allows us to discuss the e¤ect of …nancial regulation on the longrun allocation. As a main insight with clear policy implications, we show that deregulation is associated to larger levels of production and c ...
Asset Valuation Policy
... If the STC Board, its Investment Committee, Risk, Audit and Compliance Committee or STC’s management determines, a full independent valuation may be conducted in response to events that have the potential to materially change an asset’s or group of assets’ value. The resulting valuation(s) will be u ...
... If the STC Board, its Investment Committee, Risk, Audit and Compliance Committee or STC’s management determines, a full independent valuation may be conducted in response to events that have the potential to materially change an asset’s or group of assets’ value. The resulting valuation(s) will be u ...
Venture capital and the financial crisis
... Investigating the effects of the financial crisis on the entire venture capital industry would be too broad of a scope. Therefore, this research focuses on the financial crisis in relation with specific aspects of the venture capital industry that have not been investigated by a plurality of researc ...
... Investigating the effects of the financial crisis on the entire venture capital industry would be too broad of a scope. Therefore, this research focuses on the financial crisis in relation with specific aspects of the venture capital industry that have not been investigated by a plurality of researc ...
Venture Debt Financing for Start
... supplement in relation to equity capital provided by angel investors but mainly by VCs. Venture debt can be described as any form of debt financing for a company being still dependent on venture capital funding to support its operations and growth. 3 It follows that venture debt is available for pre ...
... supplement in relation to equity capital provided by angel investors but mainly by VCs. Venture debt can be described as any form of debt financing for a company being still dependent on venture capital funding to support its operations and growth. 3 It follows that venture debt is available for pre ...
INFORMATION STATEMENT of BNP Paribas, a French incorporated
... The Bank’s access to and cost of funding could be adversely affected by a resurgence of the Euro-zone sovereign debt crisis, worsening economic conditions, further rating downgrades or other factors. The Euro-zone sovereign debt crisis as well as the general macroeconomic environment have at times a ...
... The Bank’s access to and cost of funding could be adversely affected by a resurgence of the Euro-zone sovereign debt crisis, worsening economic conditions, further rating downgrades or other factors. The Euro-zone sovereign debt crisis as well as the general macroeconomic environment have at times a ...
Leadership, collective decision-making, and pension fund
... Abstract. For pension funds and other institutional investors, governance refers to the resources and processes used in decision-taking. Recognising that risk and uncertainty are the life-blood of investment strategy, in this paper we develop a resource-based framework to better understand the struc ...
... Abstract. For pension funds and other institutional investors, governance refers to the resources and processes used in decision-taking. Recognising that risk and uncertainty are the life-blood of investment strategy, in this paper we develop a resource-based framework to better understand the struc ...
The Impact of Turnover Ratios on Jordanian Services Sectors
... positively related and asset utilization was found to be negatively related to ROA through the results of the regression analysis, but these associations are statistically insignificant. The impact of working capital and liquidity on the profitability of Tata Motors during the period of 2002-2010 wa ...
... positively related and asset utilization was found to be negatively related to ROA through the results of the regression analysis, but these associations are statistically insignificant. The impact of working capital and liquidity on the profitability of Tata Motors during the period of 2002-2010 wa ...
Guidelines on Risk Based Capital Adequacy
... the banking sector’s ability to absorb shocks arising from financial and economic stress, whatever the source, thus reducing the risk of spillover from the financial sector to the real economy. “Basel III: A global regulatory framework for more resilient banks and banking systems” (known as Basel II ...
... the banking sector’s ability to absorb shocks arising from financial and economic stress, whatever the source, thus reducing the risk of spillover from the financial sector to the real economy. “Basel III: A global regulatory framework for more resilient banks and banking systems” (known as Basel II ...
2006 Annual Report - Media Corporate IR Net
... Our efforts were recognized by investors, as our shares appreciated 16 percent during the year, exceeding the performance of the S&P 500 Index. Bank of America today is one of the largest companies in the world; we were the fifth most profitable company in 2006 with a net profit of more than $21 bil ...
... Our efforts were recognized by investors, as our shares appreciated 16 percent during the year, exceeding the performance of the S&P 500 Index. Bank of America today is one of the largest companies in the world; we were the fifth most profitable company in 2006 with a net profit of more than $21 bil ...
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 ...
Diminishing returns: Why investors may need to lower their
... Buoyed by exceptional economic and business conditions, returns on US and Western European equities and bonds during the past 30 years were considerably higher than the long-run trend. Some of these conditions are weakening or even reversing. In this report, we attempt to quantify the impact on futu ...
... Buoyed by exceptional economic and business conditions, returns on US and Western European equities and bonds during the past 30 years were considerably higher than the long-run trend. Some of these conditions are weakening or even reversing. In this report, we attempt to quantify the impact on futu ...
Private equity secondary market
In finance, the private equity secondary market (also often called private equity secondaries or secondaries) refers to the buying and selling of pre-existing investor commitments to private equity and other alternative investment funds. Given the absence of established trading markets for these interests, the transfer of interests in private equity funds as well as hedge funds can be more complex and labor-intensive.Sellers of private equity investments sell not only the investments in the fund but also their remaining unfunded commitments to the funds. By its nature, the private equity asset class is illiquid, intended to be a long-term investment for buy-and-hold investors, including ""pension funds, endowments and wealthy families selling off their private equity funds before the pools have sold off all their assets."" For the vast majority of private equity investments, there is no listed public market; however, there is a robust and maturing secondary market available for sellers of private equity assets.Buyers seek to acquire private equity interests in the secondary market for multiple reasons. For example, the duration of the investment may be much shorter than an investment in the private equity fund initially. Likewise, the buyer may be able to acquire these interests at an attractive price. Finally, the buyer can evaluate the fund's holdings before deciding to purchase an interest in the fund. Conversely, sellers may seek to sell interest for various reasons, including the need to raise capital, the desire to avoid future capital calls, the need to reduce an over-allocation to the asset class or for regulatory reasons.Driven by strong demand for private equity exposure over the past decade, a significant amount of capital has been committed to secondary market funds from investors looking to increase and diversify their private equity exposure.