Higher Capital Requirements, Safer Banks? Milton Harris Christian C. Opp
... ceteris paribus, the private incentives for risk-shifting. In general equilibrium, however, we show that, over a wide range, increases in capital requirements may induce some banks to switch from socially beneficial activities to risk-shifting behavior. Since we do not exogenously specify the return ...
... ceteris paribus, the private incentives for risk-shifting. In general equilibrium, however, we show that, over a wide range, increases in capital requirements may induce some banks to switch from socially beneficial activities to risk-shifting behavior. Since we do not exogenously specify the return ...
A Review of Real Estate and Infrastructure
... OCM with maximum weights, combined with a set of reporting requirements spelled out in the report. • If benchmark portfolio does not include some asset class (e.g., RE or infrastructure), then the more diversification we get by adding the new asset class, the worse the portfolio’s tracking error. • ...
... OCM with maximum weights, combined with a set of reporting requirements spelled out in the report. • If benchmark portfolio does not include some asset class (e.g., RE or infrastructure), then the more diversification we get by adding the new asset class, the worse the portfolio’s tracking error. • ...
Long-Term Analysis Conquers Wrong Turn Paralysis
... When viewed in this way it is clear that the key risk to fixed income returns are a normalisation of real interest rates (after inflation) rather than a sustainable rise in inflation. It is therefore somewhat surprising that the threat of inflation is garnering more attention in the media and among ...
... When viewed in this way it is clear that the key risk to fixed income returns are a normalisation of real interest rates (after inflation) rather than a sustainable rise in inflation. It is therefore somewhat surprising that the threat of inflation is garnering more attention in the media and among ...
AEGON withstands market turmoil with continued capital
... which had a one-time significant negative impact on net income. It is clear that the actions we have taken to strengthen our balance sheet have enabled us to withstand the extreme market volatility we have seen in recent months, while also continuing to grow our business. AEGON today is in a strong ...
... which had a one-time significant negative impact on net income. It is clear that the actions we have taken to strengthen our balance sheet have enabled us to withstand the extreme market volatility we have seen in recent months, while also continuing to grow our business. AEGON today is in a strong ...
“Idiosyncratic Risk, Systematic Risk, and Firm Welfare”
... when incidences of “pump and dump” schemes became public (the value of a company is talked up publicly and all shares are sold at arti…cially high prices afterwards).1 Therefore, before investing in a …rm, investors will invest some time to ensure that the …rm they are interested in is not involved ...
... when incidences of “pump and dump” schemes became public (the value of a company is talked up publicly and all shares are sold at arti…cially high prices afterwards).1 Therefore, before investing in a …rm, investors will invest some time to ensure that the …rm they are interested in is not involved ...
stock price reactions to securities fraud class actions
... Securities Exchange Act. 4 The plaintiffs are classes of investors who have paid too much for their shares or (less frequently) sold their shares for too little because of price distortion caused by the misstatements. In the typical case, the corporation being sued has neither bought nor sold its se ...
... Securities Exchange Act. 4 The plaintiffs are classes of investors who have paid too much for their shares or (less frequently) sold their shares for too little because of price distortion caused by the misstatements. In the typical case, the corporation being sued has neither bought nor sold its se ...
The Risk-free Rate and the Market Risk Premium
... Commonwealth government bonds to proxy the risk-free rate, several issues arise in using this approach. These include the appropriate time period over which the rate should be set and whether the term of the relevant bond should reflect the life of the regulatory assets or the term of the regulatory ...
... Commonwealth government bonds to proxy the risk-free rate, several issues arise in using this approach. These include the appropriate time period over which the rate should be set and whether the term of the relevant bond should reflect the life of the regulatory assets or the term of the regulatory ...
Wells Fargo Short Term Investment Fund
... portfolio maturity of 60 days or less, accruing on a straightline basis the difference between anticipated principal receipt on maturity, and customarily holding the Fund’s assets until maturity. Under normal circumstance, the Fund’s assets will be valued on an amortized cost basis. Portfolio holdin ...
... portfolio maturity of 60 days or less, accruing on a straightline basis the difference between anticipated principal receipt on maturity, and customarily holding the Fund’s assets until maturity. Under normal circumstance, the Fund’s assets will be valued on an amortized cost basis. Portfolio holdin ...
Reducing the Fear of Inflation with TIPS
... Commodities? Real assets? They all have their cheerleaders but for many investors, there continues to be a search for an investment of choice when it comes to combating short-term inflation. Recently, investors have been using U.S. Treasury Inflation Protected Securities (TIPS) – to hedge against th ...
... Commodities? Real assets? They all have their cheerleaders but for many investors, there continues to be a search for an investment of choice when it comes to combating short-term inflation. Recently, investors have been using U.S. Treasury Inflation Protected Securities (TIPS) – to hedge against th ...
AMG Substanzwerte Schweiz (AMG Value Stocks
... slightly flatter interest rate curve and little change in interest expectations, the conditions for a further rise of the stock market barometers remain good. Although few companies actually reported profit figures as most restricted themselves to turnover and order book numbers, the first quarter r ...
... slightly flatter interest rate curve and little change in interest expectations, the conditions for a further rise of the stock market barometers remain good. Although few companies actually reported profit figures as most restricted themselves to turnover and order book numbers, the first quarter r ...
Judul - Binus Repository
... When no-par stock does not have a stated value, the entire proceeds from the issue are credited to Common Stock. If Hydro-Slide Inc. does not assign a stated value to its no-par stock, the issuance of the 5,000 shares at $8 per share for cash if recorded as follows: Account Titles and Explanation ...
... When no-par stock does not have a stated value, the entire proceeds from the issue are credited to Common Stock. If Hydro-Slide Inc. does not assign a stated value to its no-par stock, the issuance of the 5,000 shares at $8 per share for cash if recorded as follows: Account Titles and Explanation ...
Dominated assets, the expected utility maxim, and mean
... In this example, when Ø>10%, apparently the benefits of diversification provided by asset #2 are outweighed by its low (relative to the dominate asset #1) expected return contribution so that w2* 0 5. An important point from this MV analysis is that there exist optimal portfolios which hold the do ...
... In this example, when Ø>10%, apparently the benefits of diversification provided by asset #2 are outweighed by its low (relative to the dominate asset #1) expected return contribution so that w2* 0 5. An important point from this MV analysis is that there exist optimal portfolios which hold the do ...
Investment Options - PFM Asset Management
... informational purposes only and should not b relied upon to make an investment decision, as it was prepared with out regard to any specific objectives or financial circumstances. It should not be construed as an offer to purchase/sell any investment. Any investment or strategy referenced may involve ...
... informational purposes only and should not b relied upon to make an investment decision, as it was prepared with out regard to any specific objectives or financial circumstances. It should not be construed as an offer to purchase/sell any investment. Any investment or strategy referenced may involve ...
ca-ipcc (1st group) financial management (71 imp questions)
... Under the short-term profit maximization objective a manager could continue to show profit increased by merely issuing stock and using the proceeds to invest in risk-free or near to risk-free securities. He may also opt for increasing profit through other non-operational activities like disposal of ...
... Under the short-term profit maximization objective a manager could continue to show profit increased by merely issuing stock and using the proceeds to invest in risk-free or near to risk-free securities. He may also opt for increasing profit through other non-operational activities like disposal of ...
SSF - oneam
... investment and tourism sector 3) government budget planning and infrastructure projects 4) increased in auto production and sales 5) lower oil price. However, there are still some headwinds including 1) no sign of recovery for agricultural sector 2) fluctuations in global economy and financial marke ...
... investment and tourism sector 3) government budget planning and infrastructure projects 4) increased in auto production and sales 5) lower oil price. However, there are still some headwinds including 1) no sign of recovery for agricultural sector 2) fluctuations in global economy and financial marke ...
Systemic Risk and Hedge Funds
... The term “systemic risk” is commonly used to describe the possibility of a series of correlated defaults among financial institutions—typically banks—that occurs over a short period of time, often caused by a single major event. A classic example is a banking panic in which large groups of depositor ...
... The term “systemic risk” is commonly used to describe the possibility of a series of correlated defaults among financial institutions—typically banks—that occurs over a short period of time, often caused by a single major event. A classic example is a banking panic in which large groups of depositor ...
Report 52 - Fixed Maturity EUR Industrial Bond Funds
... Portfolios of less than 5 million EUR assets under management, do not contribute to the performance calculation of the composite to which they belong, based on the investment process. There is a six‐month period applied, before portfolios are removed from or entered into the composite. This rule d ...
... Portfolios of less than 5 million EUR assets under management, do not contribute to the performance calculation of the composite to which they belong, based on the investment process. There is a six‐month period applied, before portfolios are removed from or entered into the composite. This rule d ...
Annual Report
... while oil price and bond yield forecasts were clearly wrong. Fortunately we were on the right side of many of these developments in 2014. Nevertheless, markets are always changing, so we look forward to another challenging and hopefully rewarding year ahead. ...
... while oil price and bond yield forecasts were clearly wrong. Fortunately we were on the right side of many of these developments in 2014. Nevertheless, markets are always changing, so we look forward to another challenging and hopefully rewarding year ahead. ...
Behind the Crash: Analysis of the Roles of Macroeconomic
... economy may not be enough explanation for the challenges that faced the Nigerian capital market and calls for further enquiry into the causes. Nonetheless, the decline that was witnessed in the Nigerian capital market cannot be separated from the worldwide financial crisis that has continued to hit ...
... economy may not be enough explanation for the challenges that faced the Nigerian capital market and calls for further enquiry into the causes. Nonetheless, the decline that was witnessed in the Nigerian capital market cannot be separated from the worldwide financial crisis that has continued to hit ...
Basel III Pillar 3 Regulatory Capital Disclosures
... surcharge (as described above) on those U.S. banking organizations that have been designated by the Financial Stability Board (FSB) as G-SIBs. Under the rule, we must annually calculate our surcharge under two methods and use the higher of the two surcharges. The first method will consider our size, ...
... surcharge (as described above) on those U.S. banking organizations that have been designated by the Financial Stability Board (FSB) as G-SIBs. Under the rule, we must annually calculate our surcharge under two methods and use the higher of the two surcharges. The first method will consider our size, ...
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.