Ethical Investment and Portfolio Theory
... It is possible that ethical investment has higher transaction costs (than the whole market) (Richardson, [14]). However, Havemann and Webster [5] suggest there may be lower costs for fund managers focusing only on ethical investments, because those managers have a smaller range of stocks to keep tra ...
... It is possible that ethical investment has higher transaction costs (than the whole market) (Richardson, [14]). However, Havemann and Webster [5] suggest there may be lower costs for fund managers focusing only on ethical investments, because those managers have a smaller range of stocks to keep tra ...
Financial Visibility and the Decision to Go Private
... useful gauge that captures increased financial interest. The regression model includes a number of indirect measures of firm visibility. We anticipate that less liquid stocks lacking an adequate analyst following will tend to exhibit higher stock price volatility (STOCK_VOLATILITY). The specificatio ...
... useful gauge that captures increased financial interest. The regression model includes a number of indirect measures of firm visibility. We anticipate that less liquid stocks lacking an adequate analyst following will tend to exhibit higher stock price volatility (STOCK_VOLATILITY). The specificatio ...
Empirical Evidence of Risk Shifting in Financially Distressed Firms
... argue that since the value of short-term debt is less sensitive than the value of long-term debt to changes in asset volatility, issuing short-term debt can reduce risk-shifting incentives. They predict that debt with shorter maturity will be used when the potential costs of risk shifting are high. ...
... argue that since the value of short-term debt is less sensitive than the value of long-term debt to changes in asset volatility, issuing short-term debt can reduce risk-shifting incentives. They predict that debt with shorter maturity will be used when the potential costs of risk shifting are high. ...
The Relationship between Credit Growth and the Expected Returns
... To assess the relationship between credit growth and bank stock returns, I form an index of all publicly listed banks in the U.S. In section 3, I also test if credit growth affects stocks returns of investment banks. For this, I require an index of all publicly listed investment banks (financial tra ...
... To assess the relationship between credit growth and bank stock returns, I form an index of all publicly listed banks in the U.S. In section 3, I also test if credit growth affects stocks returns of investment banks. For this, I require an index of all publicly listed investment banks (financial tra ...
Reexamining the Financial Value of Information Technology Decisions
... One stream of firm-level studies of Information Technology (IT) impacts has deployed market-based measures of performance developed from capital market theories (Im et al. 2001; Melville et al. 2004). Such market based models assess the impact of IT “events” on shareholder value by estimating the di ...
... One stream of firm-level studies of Information Technology (IT) impacts has deployed market-based measures of performance developed from capital market theories (Im et al. 2001; Melville et al. 2004). Such market based models assess the impact of IT “events” on shareholder value by estimating the di ...
Dividends and Interest Rate Sensitivity
... providers. Financials are shown as being highly sensitive, but in large part, that is due to REITs and related industries. A further breakdown shows that Consumer Finance and Capital Market companies have a significantly more muted positive sensitivity to rising interest rates, and in effect are pos ...
... providers. Financials are shown as being highly sensitive, but in large part, that is due to REITs and related industries. A further breakdown shows that Consumer Finance and Capital Market companies have a significantly more muted positive sensitivity to rising interest rates, and in effect are pos ...
NCEA Level 2 Accounting (91177) 2012
... Sales have decreased by 17% or $160,000. The increased price of carpet (from $460 per metre to $500 per metre) has made KD Carpets carpet too expensive for some customers and they have chosen to shop at the new competitors store in search of lower prices / and many customers may choose to shop aroun ...
... Sales have decreased by 17% or $160,000. The increased price of carpet (from $460 per metre to $500 per metre) has made KD Carpets carpet too expensive for some customers and they have chosen to shop at the new competitors store in search of lower prices / and many customers may choose to shop aroun ...
3.4 Presentation of Financial Statements
... investment to qualify as a cash equivalent it must be readily convertible to a known amount of cash and be subject to an insignificant risk of changes in value. Therefore, an investment normally qualifies as a cash equivalent only when it has a short maturity of, say, three months or less from the d ...
... investment to qualify as a cash equivalent it must be readily convertible to a known amount of cash and be subject to an insignificant risk of changes in value. Therefore, an investment normally qualifies as a cash equivalent only when it has a short maturity of, say, three months or less from the d ...
A Proposal to Limit the Anti-Competitive Power of Institutional Investors
... The individual final owner need not pick stocks, nor pay someone else to pick stocks, but rather invests in the whole market and enjoys diversification and low costs. “Institutional investors,” as we use the term, include mutual funds, asset managers, and other firms that buy and hold equity in othe ...
... The individual final owner need not pick stocks, nor pay someone else to pick stocks, but rather invests in the whole market and enjoys diversification and low costs. “Institutional investors,” as we use the term, include mutual funds, asset managers, and other firms that buy and hold equity in othe ...
Liquidity and the Law of One Price: The Case of the Futures/Cash
... Spreads are not scaled by price. This is to avoid attributing movements in stock prices to movements in liquidity (recall that the stock price already forms the denominator of the absolute basis, which is based on MacKinlay and Ramaswamy, 1988). Such a procedure is further justifiable because we ar ...
... Spreads are not scaled by price. This is to avoid attributing movements in stock prices to movements in liquidity (recall that the stock price already forms the denominator of the absolute basis, which is based on MacKinlay and Ramaswamy, 1988). Such a procedure is further justifiable because we ar ...
Opening and Closing the Market
... about the trading decisions of others. Higher participation encourages further participation, thereby amplifying the gains. Thick market externalities have a self-fulfilling element: the more traders believe that the market will be active, the more they will be willing to participate, which brings ...
... about the trading decisions of others. Higher participation encourages further participation, thereby amplifying the gains. Thick market externalities have a self-fulfilling element: the more traders believe that the market will be active, the more they will be willing to participate, which brings ...
Day Trading Skill 110523
... similar to those of a control sample. In a follow-up paper, Linnainmaa (2010) uses a sample of frequent traders in Finland to test learning models of speculative trading. He concludes “… investors trade to learn even if they are pessimistic about their ability.” In our analysis, we focus on cross-se ...
... similar to those of a control sample. In a follow-up paper, Linnainmaa (2010) uses a sample of frequent traders in Finland to test learning models of speculative trading. He concludes “… investors trade to learn even if they are pessimistic about their ability.” In our analysis, we focus on cross-se ...
Public Investment: Vital For Growth And Renewal
... consideration of a country as a potential market for investment. Scandizzo and Sanguinetti also underscore another important effect of public infrastructural investment, namely its impact on the quality of life of households, particularly in low income and emerging market countries. Provision of wat ...
... consideration of a country as a potential market for investment. Scandizzo and Sanguinetti also underscore another important effect of public infrastructural investment, namely its impact on the quality of life of households, particularly in low income and emerging market countries. Provision of wat ...
SME Exchanges in Emerging Market Economies
... sponsors bring direct costs to the issuer. This implies higher costs that smaller emerging market issuers may not be able to bear. ...
... sponsors bring direct costs to the issuer. This implies higher costs that smaller emerging market issuers may not be able to bear. ...
Morningstar, Inc.
... Morningstar, Inc. is a leading provider of independent investment research in the United States and in major international markets. The company offers an extensive line of Internet, software, and print-based products and services for individuals, financial advisors, and institutions. Morningstar pro ...
... Morningstar, Inc. is a leading provider of independent investment research in the United States and in major international markets. The company offers an extensive line of Internet, software, and print-based products and services for individuals, financial advisors, and institutions. Morningstar pro ...
Statement of Cash Flows
... Does free cash flow exist? Is this a longterm trend? What plan does management have to deploy free cash flow? Were dividends paid from free cash flow? Or was external financing used? If external financing is used for dividends, is the dividend policy sustainable? FIN 591: Financial Fundament ...
... Does free cash flow exist? Is this a longterm trend? What plan does management have to deploy free cash flow? Were dividends paid from free cash flow? Or was external financing used? If external financing is used for dividends, is the dividend policy sustainable? FIN 591: Financial Fundament ...
Multinational Firms, FDI Flows and Imperfect Capital Markets
... con…rmed to be a function of the quality of investor protections and the depth of capital markets. The model also suggests that these e¤ects should be most pronounced for technologically advanced …rms because these …rms are most likely to be able to provide valuable monitoring services. The empiric ...
... con…rmed to be a function of the quality of investor protections and the depth of capital markets. The model also suggests that these e¤ects should be most pronounced for technologically advanced …rms because these …rms are most likely to be able to provide valuable monitoring services. The empiric ...
DOC - Investor Relations
... The Company utilizes the two-class method to report its earnings (loss) per share. The two-class method is an earnings (loss) allocation formula that determines earnings (loss) per share for each class of common stock according to dividends declared and participation rights in undistributed earnings ...
... The Company utilizes the two-class method to report its earnings (loss) per share. The two-class method is an earnings (loss) allocation formula that determines earnings (loss) per share for each class of common stock according to dividends declared and participation rights in undistributed earnings ...
Multinational Firms, FDI Flows and Imperfect Capital Markets
... funders. As such, while technology is central to these other models and the model in this paper, the mechanism generating multinational firm activity is entirely distinct. Our emphasis on monitoring builds on the theory presented in Holmstrom and Tirole (1997) which captures how monitoring is criti ...
... funders. As such, while technology is central to these other models and the model in this paper, the mechanism generating multinational firm activity is entirely distinct. Our emphasis on monitoring builds on the theory presented in Holmstrom and Tirole (1997) which captures how monitoring is criti ...