The Importance of Asset Management
... Professionally managed assets in Europe amounted to EUR 12.800 billion in 2009, in other words around 30% of the global asset management industry. Thanks to the asset management industry, individual savers are able to access financial markets they were previously unable, or unwilling, to access dire ...
... Professionally managed assets in Europe amounted to EUR 12.800 billion in 2009, in other words around 30% of the global asset management industry. Thanks to the asset management industry, individual savers are able to access financial markets they were previously unable, or unwilling, to access dire ...
REITs and Real Estate
... the public stock markets. Investors can conduct detailed analyses of REIT corporate and financial filings with the SEC which are augmented by analyses of private sector stock analysts. Like all stock prices, REIT prices incorporate a forward-looking component which reflects the expectations and sent ...
... the public stock markets. Investors can conduct detailed analyses of REIT corporate and financial filings with the SEC which are augmented by analyses of private sector stock analysts. Like all stock prices, REIT prices incorporate a forward-looking component which reflects the expectations and sent ...
Price Volatility, Trading Activity and Market Depth
... trading volume and open interest in futures markets. Using open interest as a proxy for market depth, Bessembinder and Seguin (1993) first investigate the relations between price volatility, trading activity variables (trading volume and open interest) and market depth in eight futures markets in th ...
... trading volume and open interest in futures markets. Using open interest as a proxy for market depth, Bessembinder and Seguin (1993) first investigate the relations between price volatility, trading activity variables (trading volume and open interest) and market depth in eight futures markets in th ...
Answers to Before You Go On Questions
... A problem that arises quite often in capital budgeting involves choosing between two mutually exclusive investments where the investments have different lives. o In a situation like this, we can effectively make the lives of the mowers the same by assuming repeated investments over some identical pe ...
... A problem that arises quite often in capital budgeting involves choosing between two mutually exclusive investments where the investments have different lives. o In a situation like this, we can effectively make the lives of the mowers the same by assuming repeated investments over some identical pe ...
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... 56 percent. With significantly reduced investment levels, this dry powder could last for more than five years on average. However, there are big differences in the proportion of dry powder that individual private-equity firms have, ranging from 100 percent to 0 percent. Firms at the bottom end of th ...
... 56 percent. With significantly reduced investment levels, this dry powder could last for more than five years on average. However, there are big differences in the proportion of dry powder that individual private-equity firms have, ranging from 100 percent to 0 percent. Firms at the bottom end of th ...
money runs - Giorgia Piacentino
... no way to get liquidity if trade fails. As a result, he sells B’s debt at a discounted price, recovering less than his initial investment. If the horizon mismatch is severe, then this loss from selling at a discount is so likely that C0 is unwilling to lend in the first place. But if B’s debt is dem ...
... no way to get liquidity if trade fails. As a result, he sells B’s debt at a discounted price, recovering less than his initial investment. If the horizon mismatch is severe, then this loss from selling at a discount is so likely that C0 is unwilling to lend in the first place. But if B’s debt is dem ...
Educating Your Investment Committee on Behavioral Economics
... Sources: BlackRock; Informa Investment Solutions; DB US Equity Strategy; Investment Company Institute (US mutual funds and ETFs). The S&P 500 Index is an unmanaged index that consists of the common stock of 500 large-capitalization companies, within various industrial sectors, most of which are list ...
... Sources: BlackRock; Informa Investment Solutions; DB US Equity Strategy; Investment Company Institute (US mutual funds and ETFs). The S&P 500 Index is an unmanaged index that consists of the common stock of 500 large-capitalization companies, within various industrial sectors, most of which are list ...
Capital raising in Australia
... The ability of companies to raise equity capital in the virtual absence of alternative debt issuance or bank funding was an important safety valve that enabled many companies to reduce debt exposure and shore up balance sheets. In some markets, most notably the US and UK, governments felt they had n ...
... The ability of companies to raise equity capital in the virtual absence of alternative debt issuance or bank funding was an important safety valve that enabled many companies to reduce debt exposure and shore up balance sheets. In some markets, most notably the US and UK, governments felt they had n ...
Corporate Profits: Reward, Incentive and ... Standard of Living Economics Group Special Commentary
... phones. Financial innovations such as commercial paper, high yield bonds, adjustable rate mortgages, mutual funds and even the long-ago innovation of joint stock companies of the Dutch all have contributed to growth in the economy. Profits also served as an incentive for the Virginia colony in Ameri ...
... phones. Financial innovations such as commercial paper, high yield bonds, adjustable rate mortgages, mutual funds and even the long-ago innovation of joint stock companies of the Dutch all have contributed to growth in the economy. Profits also served as an incentive for the Virginia colony in Ameri ...
The equity premium
... puzzle." The short-term real rate in the United States has averaged less than 1 percent, so the high value of cc required to generate the observed equity premium results in an unacceptably high riskfree rate. The late Fischer Black proposed that ax = 55 would solve the puzzle.10 Indeed, it can be sh ...
... puzzle." The short-term real rate in the United States has averaged less than 1 percent, so the high value of cc required to generate the observed equity premium results in an unacceptably high riskfree rate. The late Fischer Black proposed that ax = 55 would solve the puzzle.10 Indeed, it can be sh ...
View MDA - Till Capital
... and AMB at the closing date in satisfaction of a portion of the $5,250,000 purchase price. NTR will satisfy the remaining amount of the purchase price with a convertible promissory note in the principal amount of $4,700,000 bearing interest at 6% per annum and payable over a period of three years. U ...
... and AMB at the closing date in satisfaction of a portion of the $5,250,000 purchase price. NTR will satisfy the remaining amount of the purchase price with a convertible promissory note in the principal amount of $4,700,000 bearing interest at 6% per annum and payable over a period of three years. U ...
1 CORPORATE GOVERNANCE PATTERNS IN OECD
... the other way, as companies in the US and the UK have managed to carry out sizeable restructuring and show impressive gains in profitability. Thus, more recently observers have become much more positive about the capacity of the capital markets to encourage efficient economic behaviour. The insider ...
... the other way, as companies in the US and the UK have managed to carry out sizeable restructuring and show impressive gains in profitability. Thus, more recently observers have become much more positive about the capacity of the capital markets to encourage efficient economic behaviour. The insider ...
Going global with bonds
... 9 The results in Figure 3 are not impacted by the choice to over-weight the UK market in either the equity or fixed income portfolio. Hedged global fixed income still produced a portfolio with lower volatility than when using un-hedged global bonds, across all stock/bond asset allocations. 10 Alth ...
... 9 The results in Figure 3 are not impacted by the choice to over-weight the UK market in either the equity or fixed income portfolio. Hedged global fixed income still produced a portfolio with lower volatility than when using un-hedged global bonds, across all stock/bond asset allocations. 10 Alth ...
Naked Short Selling
... precluded public-trader FTDs but not market-maker FTDs. We find that, during our sample period, FTDs affect about 95% of NYSE securities. For this NYSE sample, we conclude that an increase in FTDs equivalent to 0.1% of the number of outstanding shares leads to a 3% reduction in the magnitude of posi ...
... precluded public-trader FTDs but not market-maker FTDs. We find that, during our sample period, FTDs affect about 95% of NYSE securities. For this NYSE sample, we conclude that an increase in FTDs equivalent to 0.1% of the number of outstanding shares leads to a 3% reduction in the magnitude of posi ...
four reasons to consider an allocation to international small cap
... Investors first fell in love with American small cap stocks in the late 1970s when small companies became recognized as more nimble, fast growing, and more able to adapt to changes to technology than their bloated, plodding large competitors. Since their first great boom, US small caps have proven t ...
... Investors first fell in love with American small cap stocks in the late 1970s when small companies became recognized as more nimble, fast growing, and more able to adapt to changes to technology than their bloated, plodding large competitors. Since their first great boom, US small caps have proven t ...
Investment in Fixed Assets and Firm Profitability
... Eriotis et al. (2000) investigated the relationship between debt to equity ratio and firm’s profitability taking into consideration the level of a firm’s investment and the degree of market power. The study used panel data for various industries, covering a period 1995-96. They concluded that firms ...
... Eriotis et al. (2000) investigated the relationship between debt to equity ratio and firm’s profitability taking into consideration the level of a firm’s investment and the degree of market power. The study used panel data for various industries, covering a period 1995-96. They concluded that firms ...
Pfizer - Fisher College of Business
... that point, the Census Bureau predicts that 1 out of every 5 Americans will be elderly. As shown in Figure 3, most of this growth will happen between 2010 and 2030. This is when the baby-boomers will be entering their retirement and elderly years. Within the elderly age group, the “oldest old” is de ...
... that point, the Census Bureau predicts that 1 out of every 5 Americans will be elderly. As shown in Figure 3, most of this growth will happen between 2010 and 2030. This is when the baby-boomers will be entering their retirement and elderly years. Within the elderly age group, the “oldest old” is de ...
Commodity Dependence and Aggregate Risk
... the developed world’s economy already sliding into recession. This commodity-specific inflation – which occurred despite record output of many primary products – raised very real concerns about the sustainability of growth in the face of limited material resources. These concerns were reflected at t ...
... the developed world’s economy already sliding into recession. This commodity-specific inflation – which occurred despite record output of many primary products – raised very real concerns about the sustainability of growth in the face of limited material resources. These concerns were reflected at t ...
Market Selection and the Information Content of Prices
... financial assets or derivatives. Knowing this, managers also factor in financial asset price information when deciding on their course of action. Papers in this literature then argue that such feedback loops may decrease the information content of prices. A recent paper by Bond et al. (Forthcoming) ...
... financial assets or derivatives. Knowing this, managers also factor in financial asset price information when deciding on their course of action. Papers in this literature then argue that such feedback loops may decrease the information content of prices. A recent paper by Bond et al. (Forthcoming) ...