Does high-frequency trading improve market quality?
... orders, and thus encourages their market order placements. It increases the execution opportunity of a limit order for non-HF traders, and thus contributes to their placements of limit orders with higher frequency. However, it also increases the chances for non-HF traders to be picked off by HF trad ...
... orders, and thus encourages their market order placements. It increases the execution opportunity of a limit order for non-HF traders, and thus contributes to their placements of limit orders with higher frequency. However, it also increases the chances for non-HF traders to be picked off by HF trad ...
Report submitted by Alternative Investment Policy Advisory
... Since the first report of the Alternative Investment Policy Advisory Committee (AIPAC) was produced, the members of AIPAC have continued to work hard at the second report. The second report covers critical areas for the development of Alternative Investment Funds (AIFs) in India. The report includes ...
... Since the first report of the Alternative Investment Policy Advisory Committee (AIPAC) was produced, the members of AIPAC have continued to work hard at the second report. The second report covers critical areas for the development of Alternative Investment Funds (AIFs) in India. The report includes ...
CPI INTERNATIONAL, INC. (Form: 10-K
... Approximately half of our product sales for fiscal year 2007 were for U.S. and foreign government and military end use, particularly for radar and electronic warfare applications. We are one of three companies in the U.S. that have the facilities and expertise to produce a broad range of high-power ...
... Approximately half of our product sales for fiscal year 2007 were for U.S. and foreign government and military end use, particularly for radar and electronic warfare applications. We are one of three companies in the U.S. that have the facilities and expertise to produce a broad range of high-power ...
Word - corporate
... companies with annual revenues between $50 million and $1 billion. From time to time, we may also invest in public companies that are thinly traded. Our business is focused primarily on the direct origination of investments through portfolio companies or their financial sponsors. Our investments gen ...
... companies with annual revenues between $50 million and $1 billion. From time to time, we may also invest in public companies that are thinly traded. Our business is focused primarily on the direct origination of investments through portfolio companies or their financial sponsors. Our investments gen ...
Annual Report 2016
... thank Kirk Laney for his outstanding contribution to the development of our business over the last five years. We defined a new corporate strategy for ams last year with the goal to build the global leader in sensor solutions. We are focusing on true leadership in the four fast-growing sensing marke ...
... thank Kirk Laney for his outstanding contribution to the development of our business over the last five years. We defined a new corporate strategy for ams last year with the goal to build the global leader in sensor solutions. We are focusing on true leadership in the four fast-growing sensing marke ...
... were Public companies had significantly higher deal values than those that were private. Using 3day event window analysis, returns of acquiring companies were shown to be slightly negative and significantly less than the S&P composite index returns over the same period. Previous studies suggest that ...
The market for borrowing corporate bonds
... markets are linked, bond shorting is attractive if the net return for shorting bonds is greater than the net return for shorting stocks, adjusting for risk. We expect this to occur more frequently for lower credit quality bonds. This is because bonds without default risk trade at par (absent interes ...
... markets are linked, bond shorting is attractive if the net return for shorting bonds is greater than the net return for shorting stocks, adjusting for risk. We expect this to occur more frequently for lower credit quality bonds. This is because bonds without default risk trade at par (absent interes ...
learning and evolution of trading strategies in limit order markets
... trading strategies in limit order markets. We now summarize the main findings and discuss the main contributions of the paper. To help the discussion, we refer one-sided learning to the cases where either the informed or the uninformed traders learn and two-sided learning to the case where both the ...
... trading strategies in limit order markets. We now summarize the main findings and discuss the main contributions of the paper. To help the discussion, we refer one-sided learning to the cases where either the informed or the uninformed traders learn and two-sided learning to the case where both the ...
Submission 7 - Fiduciary Friend Pty Ltd
... operational inefficiencies within MySuper that will allow you to develop the study’s criteria. In essence, TTS is an efficiency measure, which makes more efficient use of long term investment horizons to generate higher investment returns at lower average risk (albeit with a higher risk profile in e ...
... operational inefficiencies within MySuper that will allow you to develop the study’s criteria. In essence, TTS is an efficiency measure, which makes more efficient use of long term investment horizons to generate higher investment returns at lower average risk (albeit with a higher risk profile in e ...
Diamondback Energy, Inc.
... During the six months ended June 30, 2015, our average daily production was approximately 30,302 BOE/d, consisting of 22,894 Bbls/d of oil, 18,795 Mcf/d of natural gas and 4,276 Bbls/d of natural gas liquids, an increase of 14,596 BOE/d, or 93%, from average daily production of 15,706 BOE/d for the ...
... During the six months ended June 30, 2015, our average daily production was approximately 30,302 BOE/d, consisting of 22,894 Bbls/d of oil, 18,795 Mcf/d of natural gas and 4,276 Bbls/d of natural gas liquids, an increase of 14,596 BOE/d, or 93%, from average daily production of 15,706 BOE/d for the ...
US SECURITIES AND EXCHANGE COMMISSION FORM
... audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used an ...
... audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used an ...
Product Disclosure Statement
... Earnings ex pectations: Reactions to changing earnings forecasts are monitored to discern shifts in investor behaviour. We have found that investors generally underreact to changing earnings forecasts. This tendency allows us to predict the relative performance of stocks. ...
... Earnings ex pectations: Reactions to changing earnings forecasts are monitored to discern shifts in investor behaviour. We have found that investors generally underreact to changing earnings forecasts. This tendency allows us to predict the relative performance of stocks. ...
Liquidity Shocks and the Business Cycle: What next?
... Some authors use liquidity as a synonym of volume of trade. In the context of the model, the distinction between liquid assets and traded assets is important. For example, there could be states in which equity is entirely liquid, but it is not traded at all. ...
... Some authors use liquidity as a synonym of volume of trade. In the context of the model, the distinction between liquid assets and traded assets is important. For example, there could be states in which equity is entirely liquid, but it is not traded at all. ...
Investor Preferences and Demand for Active Management
... funds underperformed benchmark portfolios by approximately 1% annually, roughly the average cost of investing in mutual funds. ...
... funds underperformed benchmark portfolios by approximately 1% annually, roughly the average cost of investing in mutual funds. ...
OUTPERFORM Chularat Hospital
... Revenue from SS accounted for 38% of total revenue in 1H15, but payment risk is minimal as the SS Office pays a fixed amount plus a premium for more complex treatments. However, cash patients (avg Bt1,363/visit OPD, Bt17,754/visit IPD) yield a higher margin than SS patients (avg Bt993/visit). CHG is ...
... Revenue from SS accounted for 38% of total revenue in 1H15, but payment risk is minimal as the SS Office pays a fixed amount plus a premium for more complex treatments. However, cash patients (avg Bt1,363/visit OPD, Bt17,754/visit IPD) yield a higher margin than SS patients (avg Bt993/visit). CHG is ...
STRATEGIC REPORT - Highlights Financial highlights
... Real time access to these metrics gives us a unique view of changes in a market where most other reported data is available months after changes take place when it is too late to act. This is key for our customers including our lender customers, where effective risk management can be supported using ...
... Real time access to these metrics gives us a unique view of changes in a market where most other reported data is available months after changes take place when it is too late to act. This is key for our customers including our lender customers, where effective risk management can be supported using ...
2014 IBM Annual Report 2 0 14 IB M A n n u a l R e p o rt
... greater levels of understanding, personalization and intimacy. A new world is taking shape before our eyes, remade by data, rewritten in code and growing smarter every day. This is the work that energizes me and all of my fellow IBMers. I am deeply grateful to the IBM team for bringing us here, and ...
... greater levels of understanding, personalization and intimacy. A new world is taking shape before our eyes, remade by data, rewritten in code and growing smarter every day. This is the work that energizes me and all of my fellow IBMers. I am deeply grateful to the IBM team for bringing us here, and ...
NBER WORKING PAPER SERIES THE VARIABILITY OF IPO INITIAL RETURNS Michelle Lowry
... investment bank’s pricing of an offering should be related to the level of information asymmetry surrounding the company. For example, Beatty and Ritter’s (1986) extension of Rock (1986) predicts that companies characterized by higher information asymmetry will tend to be more underpriced on average ...
... investment bank’s pricing of an offering should be related to the level of information asymmetry surrounding the company. For example, Beatty and Ritter’s (1986) extension of Rock (1986) predicts that companies characterized by higher information asymmetry will tend to be more underpriced on average ...
MRC Global Inc. - corporate
... fulfill orders more quickly, including orders for less common and specialty items, and provide our customers with a greater array of value added services than if we operated on a smaller scale or only at a local or regional level. These value added services include multiple daily deliveries, volume ...
... fulfill orders more quickly, including orders for less common and specialty items, and provide our customers with a greater array of value added services than if we operated on a smaller scale or only at a local or regional level. These value added services include multiple daily deliveries, volume ...
Margin regulation and volatility - ECB
... leverage. Therefore the amount of leverage decreases in equilibrium, leading to less de-leveraging after bad shocks. While the first effect increases the asset’s volatility, the second effect reduces it. In equilibrium, these two effects approximately offset each other and thus the return volatilit ...
... leverage. Therefore the amount of leverage decreases in equilibrium, leading to less de-leveraging after bad shocks. While the first effect increases the asset’s volatility, the second effect reduces it. In equilibrium, these two effects approximately offset each other and thus the return volatilit ...
CHAPTER 5 INTRODUCTION TO VALUATION: THE TIME VALUE
... life insurance policy is bearing the risk that the insured individual will live longer than expected. Although viatical settlements are ethical, they may not be the best choice for an individual. In a Business Week article (October 31, 2005), options were examined for a 72 year old male with a life ...
... life insurance policy is bearing the risk that the insured individual will live longer than expected. Although viatical settlements are ethical, they may not be the best choice for an individual. In a Business Week article (October 31, 2005), options were examined for a 72 year old male with a life ...
predictions, projections, and precautions: conveying cautionary
... panied by “meaningful cautionary statements” identifying important factors that could cause actual results to differ from the forward-looking statement. Second, the Safe Harbor protects corporations from liability if the forward-looking statement is immaterial. Finally, the corporation is protected ...
... panied by “meaningful cautionary statements” identifying important factors that could cause actual results to differ from the forward-looking statement. Second, the Safe Harbor protects corporations from liability if the forward-looking statement is immaterial. Finally, the corporation is protected ...
Investment in an Indonesian Life Insurance Company, PT Panin Life
... Forward-looking statements may include – but are not limited to – words such as “believe,” “anticipate,” “plan,” “strategy,” “expect,” “forecast,” “predict,” “possibility” and similar words that describe future operating activities, business performance, events or conditions. Forward-looking stateme ...
... Forward-looking statements may include – but are not limited to – words such as “believe,” “anticipate,” “plan,” “strategy,” “expect,” “forecast,” “predict,” “possibility” and similar words that describe future operating activities, business performance, events or conditions. Forward-looking stateme ...