Statutory Accounting Principles Working Group
... March 2016 as part of the FASB simplification initiative. The objective of this initiative is to identify, evaluate, and improve areas of U.S. GAAP for which cost and complexity can be reduced while maintaining or improving the usefulness of the information provided to the users of the financial sta ...
... March 2016 as part of the FASB simplification initiative. The objective of this initiative is to identify, evaluate, and improve areas of U.S. GAAP for which cost and complexity can be reduced while maintaining or improving the usefulness of the information provided to the users of the financial sta ...
Public real estate and the term structure of interest rates
... adopted a different methodological approach, one that comes more from an asset pricing-factor model framework. Liang et al. (1995), for example, estimate a two-factor model that includes an interest rate variable and the overall stock market. They observe only weak sensitivity to government bond ret ...
... adopted a different methodological approach, one that comes more from an asset pricing-factor model framework. Liang et al. (1995), for example, estimate a two-factor model that includes an interest rate variable and the overall stock market. They observe only weak sensitivity to government bond ret ...
Investment risks - Lecture 10: Asset allocation methods
... When we only have two risky assets, as in this case, it is easy to construct this graph by simply calculating the portfolio returns for all possible weights. When we have more than 2 assets, it becomes more difficult to represent all possible portfolios, and instead we will only graph only a subset ...
... When we only have two risky assets, as in this case, it is easy to construct this graph by simply calculating the portfolio returns for all possible weights. When we have more than 2 assets, it becomes more difficult to represent all possible portfolios, and instead we will only graph only a subset ...
The Impact of Hedging on Firm Value
... benefits by reducing the volatility of their cash flow, given the structure of the taxation or the existence of costs of financial distress. The authors showed that in a progressive taxation system, hedging might reduce the expected payment of taxes, increasing firm’s after-tax income, thus producin ...
... benefits by reducing the volatility of their cash flow, given the structure of the taxation or the existence of costs of financial distress. The authors showed that in a progressive taxation system, hedging might reduce the expected payment of taxes, increasing firm’s after-tax income, thus producin ...
Chapter 3 - California State University
... technique was used to find the relationship between EMEs spreads and macroeconomic variables (i.e., real GDP growth, change in terms of trade, and investors’ risk aversion). Afterwards, two HFVs were introduced—commodity index and U.S. 10-year Treasury bond yield—to examine short-term deviation of s ...
... technique was used to find the relationship between EMEs spreads and macroeconomic variables (i.e., real GDP growth, change in terms of trade, and investors’ risk aversion). Afterwards, two HFVs were introduced—commodity index and U.S. 10-year Treasury bond yield—to examine short-term deviation of s ...
tortoise capital resources corporation
... (6) In July 2008, LONESTAR Midstream Partners, LP sold its assets to Penn Virginia Resource Partners, L.P. (PVR). LONESTAR has no continuing operations, but currently holds certain rights to receive future payments from PVR relative to the sale. LSMP GP, LP indirectly owns the general partner of LO ...
... (6) In July 2008, LONESTAR Midstream Partners, LP sold its assets to Penn Virginia Resource Partners, L.P. (PVR). LONESTAR has no continuing operations, but currently holds certain rights to receive future payments from PVR relative to the sale. LSMP GP, LP indirectly owns the general partner of LO ...
Pairs Trading in the UK Equity Market Risk and Return
... the full sample period, the average annual returns for the strategy range from 6.2% to 9.5% net of transaction costs compared to the FTSE All-Share Index average annual total return of 10.9%. The average annual standard deviation for the pairs trading portfolios (between 4.4% and 5.8%) is considera ...
... the full sample period, the average annual returns for the strategy range from 6.2% to 9.5% net of transaction costs compared to the FTSE All-Share Index average annual total return of 10.9%. The average annual standard deviation for the pairs trading portfolios (between 4.4% and 5.8%) is considera ...
Global Investment Outlook - RBC Global Asset Management
... elevated when compared to history. Our own RBC GAM multi-factor model, which incorporates current levels of inflation, interest rates and corporate profitability, suggests U.S. stocks are actually a bit below fair value. However, we do recognize that stocks are not as cheap as they were, so a contin ...
... elevated when compared to history. Our own RBC GAM multi-factor model, which incorporates current levels of inflation, interest rates and corporate profitability, suggests U.S. stocks are actually a bit below fair value. However, we do recognize that stocks are not as cheap as they were, so a contin ...
accounting and market based risk measures as predictors of bank
... volatility is related to historical equity volatility or implied volatility from equity options. Agusman, Monroe, Gasbarro, Zumwalt (2008) display that the decision for the risk evaluation between market and accounting measures is based on the conditions and on its objective. Specifically, if a well ...
... volatility is related to historical equity volatility or implied volatility from equity options. Agusman, Monroe, Gasbarro, Zumwalt (2008) display that the decision for the risk evaluation between market and accounting measures is based on the conditions and on its objective. Specifically, if a well ...
The Risk-free Rate and the Market Risk Premium
... estimate of the market risk premium in the second term of the cost of equity in the CAPM. While standard regulatory practice in Australia to date has been to reference the yields on Commonwealth government bonds to proxy the risk-free rate, several issues arise in using this approach. These include ...
... estimate of the market risk premium in the second term of the cost of equity in the CAPM. While standard regulatory practice in Australia to date has been to reference the yields on Commonwealth government bonds to proxy the risk-free rate, several issues arise in using this approach. These include ...
Labor income risk and asset returns
... its ability to track time varying risk premia. I show that these results are consistent with the fact that high lr represent a state of the world in which agents expect to have abundance of resources in the future to …nance consumption, therefore low returns on asset wealth are feared less and lower ...
... its ability to track time varying risk premia. I show that these results are consistent with the fact that high lr represent a state of the world in which agents expect to have abundance of resources in the future to …nance consumption, therefore low returns on asset wealth are feared less and lower ...
Setting price controls for 2015-20
... As many companies are intending to increase customer satisfaction as a priority outcome, we would like Ofwat to apply a consistent incentive across all companies to drive this. This could increase the long term legitimacy and sustainability of the industry in customers’ perspective. The achievement ...
... As many companies are intending to increase customer satisfaction as a priority outcome, we would like Ofwat to apply a consistent incentive across all companies to drive this. This could increase the long term legitimacy and sustainability of the industry in customers’ perspective. The achievement ...
Neonode, Inc (Form: 10-Q, Received: 08/09/2016 08:48:47)
... anticipated cash needs for the next twelve months. We expect our revenues from license fees, non-recurring engineering fees and AirBar sales will enable us to reduce our operating losses in 2016. In addition, we have improved the overall cost efficiency of our operations, as a result of the transiti ...
... anticipated cash needs for the next twelve months. We expect our revenues from license fees, non-recurring engineering fees and AirBar sales will enable us to reduce our operating losses in 2016. In addition, we have improved the overall cost efficiency of our operations, as a result of the transiti ...
Recap - Vutube.edu.pk
... ranging between PKR 18 billion to PKR 25 billion over the past few years. We do not have statistics regarding the exact percentage of new investment in plant and machinery or other income generating assets. ...
... ranging between PKR 18 billion to PKR 25 billion over the past few years. We do not have statistics regarding the exact percentage of new investment in plant and machinery or other income generating assets. ...
The Link between IPO Underpricing and Trading Volume: Evidence
... between underwriter’s trading profits and IPO underpricing. Based on the second explanation, higher liquidity is not a goal but a by-product as it is argued by Reese (2003). The reasoning relies on the book-building model of Benveniste and Spindt (1989). In their model, underwriters of initial publi ...
... between underwriter’s trading profits and IPO underpricing. Based on the second explanation, higher liquidity is not a goal but a by-product as it is argued by Reese (2003). The reasoning relies on the book-building model of Benveniste and Spindt (1989). In their model, underwriters of initial publi ...
WP SES
... A second disadvantage is that these trading strategies induce heavy trading activities. Thus, transaction costs dramatically reduce the profits from such strategies. On the other hand, allowing MA rules to generate signals over longer horizons might help detect long-term trends, which might be less ...
... A second disadvantage is that these trading strategies induce heavy trading activities. Thus, transaction costs dramatically reduce the profits from such strategies. On the other hand, allowing MA rules to generate signals over longer horizons might help detect long-term trends, which might be less ...
Private Equity Institutional Investor Trends for
... limited look at developing new general partner relationships (Chart VII). Based on our discussions with investors, many are continuing to triage their relationships, looking to upgrade their portfolio quality by not re-upping with fund managers that had weak returns over the last cycle and puttin ...
... limited look at developing new general partner relationships (Chart VII). Based on our discussions with investors, many are continuing to triage their relationships, looking to upgrade their portfolio quality by not re-upping with fund managers that had weak returns over the last cycle and puttin ...
Annual Report - Pershing Square Capital Management
... In 2016, the Investment Manager offered a new fee structure to its private fund investors that will increase the level of total fees paid in years in which the gross return exceeds 16.5% and decrease the level of total fees paid in years when the gross return is less than 16.5%. PSCM has generated a ...
... In 2016, the Investment Manager offered a new fee structure to its private fund investors that will increase the level of total fees paid in years in which the gross return exceeds 16.5% and decrease the level of total fees paid in years when the gross return is less than 16.5%. PSCM has generated a ...
The Low Carbon Economy
... and LED savings as key contributors. This could mean that overall energy-related emissions peak around 2020 – rather than continue to increase gradually over the next decade as mainstream modelling, like the IEA’s INDC scenario suggests (which assumes that countries honour their Paris commitments). ...
... and LED savings as key contributors. This could mean that overall energy-related emissions peak around 2020 – rather than continue to increase gradually over the next decade as mainstream modelling, like the IEA’s INDC scenario suggests (which assumes that countries honour their Paris commitments). ...
Corporate Bond Trading on a Limit Order Book Exchange by
... members (at least the 0.005% fee the exchange charges its members). This leaves very little to cover their costs and compensate them for the risk. Therefore, if there are rents beyond that, they are negligible. In their "taking" transactions (44.09% of their NIS volume) the NIS weighted trading prof ...
... members (at least the 0.005% fee the exchange charges its members). This leaves very little to cover their costs and compensate them for the risk. Therefore, if there are rents beyond that, they are negligible. In their "taking" transactions (44.09% of their NIS volume) the NIS weighted trading prof ...
Inequality, stock market participation, and the equity premium
... is finite, when the wealthy hold relatively more stocks, the middle and lower classes must hold relatively less, therefore the participation rate falls. Holding all else equal, a distribution with more inequality requires less participation. At the other extreme, when only participation costs decrea ...
... is finite, when the wealthy hold relatively more stocks, the middle and lower classes must hold relatively less, therefore the participation rate falls. Holding all else equal, a distribution with more inequality requires less participation. At the other extreme, when only participation costs decrea ...
Version: March 14, 1999 - Duke University`s Fuqua School of Business
... While the surveys are anonymous, we have information on each respondent’s industry, size by revenue, number of employees, headquarters location, ownership and percentage of foreign sales. We use this information to see if there are systematic differences in expectations based on firm characteristics ...
... While the surveys are anonymous, we have information on each respondent’s industry, size by revenue, number of employees, headquarters location, ownership and percentage of foreign sales. We use this information to see if there are systematic differences in expectations based on firm characteristics ...