NBER WORKING PAPER SERIES QUANTITATIVE IMPLICATION OF A DEBT-DEFLATION
... East Asia in 1997, even in countries where there was no devaluation of the currency, as in Hong Kong where equity prices fell by 20 percent. Sudden Stops also induced higher asset price volatility. The volatility of weekly emerging-market dollar returns doubled from 2 to 4 percent during the 1997 Ea ...
... East Asia in 1997, even in countries where there was no devaluation of the currency, as in Hong Kong where equity prices fell by 20 percent. Sudden Stops also induced higher asset price volatility. The volatility of weekly emerging-market dollar returns doubled from 2 to 4 percent during the 1997 Ea ...
NBER WORKING PAPER SERIES RESTRICTION OF INTERNATIONAL PRODUCTION: David G. Hartman
... interest. For that reason, the individual firm's decision on how to finance its investment is not of concern here. Furthermore, even the observed aggregate financial behavior of multinational firms may not have relevance in this context. For example, if there were compensating long-term portfolio ca ...
... interest. For that reason, the individual firm's decision on how to finance its investment is not of concern here. Furthermore, even the observed aggregate financial behavior of multinational firms may not have relevance in this context. For example, if there were compensating long-term portfolio ca ...
What Stock Market Returns to Expect for the
... The historical data provide one way to think about rates of return. However, thinking about how the future may be different from the past requires an underlying theory about how those returns are determined. This section lists some of the actions by investors, firms, and government that combine to d ...
... The historical data provide one way to think about rates of return. However, thinking about how the future may be different from the past requires an underlying theory about how those returns are determined. This section lists some of the actions by investors, firms, and government that combine to d ...
risks associated with financial instruments (glossary)
... Also, high inflation typically causes the real returns of investments to decrease. The real return of a financial instrument can be approximated as its actual (or nominal) return less inflation. While inflation risk impacts most asset classes, it is particularly acute for fixed-rate products. As a s ...
... Also, high inflation typically causes the real returns of investments to decrease. The real return of a financial instrument can be approximated as its actual (or nominal) return less inflation. While inflation risk impacts most asset classes, it is particularly acute for fixed-rate products. As a s ...
Actuarial Methods for Valuing Illiquid Assets
... The valuation of illiquid assets is a vast topic, which is very much in a state of development. Based on comments made by investment professionals during the preparation of the proposal, this is a very challenging area of research. Generally, the investment industry will look with great interest on ...
... The valuation of illiquid assets is a vast topic, which is very much in a state of development. Based on comments made by investment professionals during the preparation of the proposal, this is a very challenging area of research. Generally, the investment industry will look with great interest on ...
Financial Accounting: Assets Question 1 (30 marks) Multiple choice
... not to control those decisions. That influence can be achieved, under certain circumstances, with any level of ownership. f. 2) Cost is normally defined as the fair value of the consideration given up to acquire the asset. g. 4) Under the equity method of accounting for investments in associates, d ...
... not to control those decisions. That influence can be achieved, under certain circumstances, with any level of ownership. f. 2) Cost is normally defined as the fair value of the consideration given up to acquire the asset. g. 4) Under the equity method of accounting for investments in associates, d ...
Mankiw 6e PowerPoints
... depreciation cost is measured using current price of capital, and the CIT would not affect investment But, the legal definition uses the historical price of capital. If PK rises over time, then the legal definition understates the true cost and overstates profit, so firms could be taxed even if ...
... depreciation cost is measured using current price of capital, and the CIT would not affect investment But, the legal definition uses the historical price of capital. If PK rises over time, then the legal definition understates the true cost and overstates profit, so firms could be taxed even if ...
Middle Market Leverage Multiples
... Growing Private Capital Investment in Dermatology Practices Dermatology practices continue to attract private equity interest and outside capital investment. Beginning with Audax Group’s October 2011 recapitalization of Advanced Dermatology & Cosmetic Surgery, six dermatology platform investments h ...
... Growing Private Capital Investment in Dermatology Practices Dermatology practices continue to attract private equity interest and outside capital investment. Beginning with Audax Group’s October 2011 recapitalization of Advanced Dermatology & Cosmetic Surgery, six dermatology platform investments h ...
Challenges arising from alternative investment management
... investment strategies. While these strategies are flexible, and many different combinations exist, we can basically identify four major investment styles, of which there are numerous variations. – Long/short strategies involve taking simultaneously short and long positions in different securities, s ...
... investment strategies. While these strategies are flexible, and many different combinations exist, we can basically identify four major investment styles, of which there are numerous variations. – Long/short strategies involve taking simultaneously short and long positions in different securities, s ...
control premiums and the eeeectiveness oe corporate governance
... some adjustments (discussed below), this difference can be used as a measure of the private benefits for the controlling shareholder. In a study that was published this year in the Journal of Finance, we used the Barclay and Holdemess method to infer the value of private benefits of control in compa ...
... some adjustments (discussed below), this difference can be used as a measure of the private benefits for the controlling shareholder. In a study that was published this year in the Journal of Finance, we used the Barclay and Holdemess method to infer the value of private benefits of control in compa ...
Institutional Ownership and Credit Spreads: An Information
... The T RA investors, due to their frequent trading needs, are expected to be attracted to firms with smaller bid-ask spreads and less information asymmetry. However, the DED investors, due to their long-term investment style and superior information they may possess, are expected to buy stocks of fir ...
... The T RA investors, due to their frequent trading needs, are expected to be attracted to firms with smaller bid-ask spreads and less information asymmetry. However, the DED investors, due to their long-term investment style and superior information they may possess, are expected to buy stocks of fir ...
Western Asset Premier Bond Fund Recommends
... Western Asset Premier Bond Fund is a closed-end management investment company that invests primarily in a diversified portfolio of debt securities. It has been advised by Western Asset Management Company, a subsidiary of Legg Mason, Inc., since the fund’s inception in 2002. Additional information re ...
... Western Asset Premier Bond Fund is a closed-end management investment company that invests primarily in a diversified portfolio of debt securities. It has been advised by Western Asset Management Company, a subsidiary of Legg Mason, Inc., since the fund’s inception in 2002. Additional information re ...
Fixed Assets - RMIT University
... Frequently asked questions continues: • What should I do if I receive a direct invoice for an asset without a purchase order? – In order to process this invoice, first an asset number must be created by providing the above information to FA Accountant. Quote the new asset number on the invoice and ...
... Frequently asked questions continues: • What should I do if I receive a direct invoice for an asset without a purchase order? – In order to process this invoice, first an asset number must be created by providing the above information to FA Accountant. Quote the new asset number on the invoice and ...
CASH AMERICA INTERNATIONAL INC
... We have audited the accompanying statements of net assets available for benefits of the Cash America International, Inc. 401(k) Savings Plan (the “Plan”) as of December 31, 2014 and 2013 and the related statements of changes in net assets available for benefits for each of the years in the two-year ...
... We have audited the accompanying statements of net assets available for benefits of the Cash America International, Inc. 401(k) Savings Plan (the “Plan”) as of December 31, 2014 and 2013 and the related statements of changes in net assets available for benefits for each of the years in the two-year ...
Discussion paper Transparency and liquidity
... the new regulations will lead to a significantly higher level of transparency for trading in mortgage-credit bonds in Denmark, see table 1. This applies both after a transaction, and especially before a transaction. On the other hand, if the Danish FSA grants all the exemptions, and market participa ...
... the new regulations will lead to a significantly higher level of transparency for trading in mortgage-credit bonds in Denmark, see table 1. This applies both after a transaction, and especially before a transaction. On the other hand, if the Danish FSA grants all the exemptions, and market participa ...
Ulrich Höller`s boundless energy and wide range of interests have
... finding a common point of interest to talk about, whether it’s property or something completely different,’ he said. In his downtime, Höller is a keen runner and tries to run four to five times a week. He has run the New York marathon several times as well as the one in Chicago. ‘If I’m on a business ...
... finding a common point of interest to talk about, whether it’s property or something completely different,’ he said. In his downtime, Höller is a keen runner and tries to run four to five times a week. He has run the New York marathon several times as well as the one in Chicago. ‘If I’m on a business ...
The importance of a well-diversified portfolio
... they should do—and end up buying high and selling low. ...
... they should do—and end up buying high and selling low. ...
Human Capital Productivity
... function in a perfect manner, which means that the wage rates by education used as a proxy for the monetary benefits provided by additional schooling will differ from the marginal productivity of a particular type of worker; and 3) by relying on observed market wages, the monetary stock of human cap ...
... function in a perfect manner, which means that the wage rates by education used as a proxy for the monetary benefits provided by additional schooling will differ from the marginal productivity of a particular type of worker; and 3) by relying on observed market wages, the monetary stock of human cap ...
Practical Applications of Post Modern Portfolio Theory
... of an investment portfolio is a formula called mean variance optimization. MVO was conceived and was appropriate for proving theories of MPT. However, MVO was never intended to be used for determining an actual investor’s optimal asset allocation.iii Post-MPT has identified many problems with determ ...
... of an investment portfolio is a formula called mean variance optimization. MVO was conceived and was appropriate for proving theories of MPT. However, MVO was never intended to be used for determining an actual investor’s optimal asset allocation.iii Post-MPT has identified many problems with determ ...
Microfinance Market Outlook 2015
... Bank as input for the model in order to produce a model output based on the mathematically defined context. The linear panel data model estimates the depth of the financial sector for each country using the statistical regression method. The expected ratio of loans to gross domestic product (GDP) is ...
... Bank as input for the model in order to produce a model output based on the mathematically defined context. The linear panel data model estimates the depth of the financial sector for each country using the statistical regression method. The expected ratio of loans to gross domestic product (GDP) is ...
Exemption From Audit Requirement For A Regulated Mutual Fund.
... 4.1. In considering whether to exempt a fund from the annual audit requirement, the Authority must be satisfied that the exemption will not contravene any terms of the fund’s articles or other constitutive documents and its offering document, or prejudice the fund’s investors and creditors. In addit ...
... 4.1. In considering whether to exempt a fund from the annual audit requirement, the Authority must be satisfied that the exemption will not contravene any terms of the fund’s articles or other constitutive documents and its offering document, or prejudice the fund’s investors and creditors. In addit ...
Capital requirements for MiFID investment firms
... underwriting activities and facing significant counterparty credit risk, as well as market risk on assets held on their own account (whether or not for external clients). ...
... underwriting activities and facing significant counterparty credit risk, as well as market risk on assets held on their own account (whether or not for external clients). ...
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.