The Size and Specialization of Direct Investment Portfolios
... endogenous, and we derive the shape of marginal returns as the outcome of a choice, rather than assuming it. As a result, our comparative statics take both level and slope effects into account, and so we are able to describe changes in the optimal combination of size and scope that are conditional ...
... endogenous, and we derive the shape of marginal returns as the outcome of a choice, rather than assuming it. As a result, our comparative statics take both level and slope effects into account, and so we are able to describe changes in the optimal combination of size and scope that are conditional ...
The Impact of Market Sentiment Index on Stock
... markets during crisis periods. For example, Chung and Ley (2007) examined the relationship between investor sentiment and market fluctuation for the Taiwan stock market during the crashes period occurring in 1990, 1997 and 2000 1 . Five investor sentiment proxies were selected to measure sentiment, ...
... markets during crisis periods. For example, Chung and Ley (2007) examined the relationship between investor sentiment and market fluctuation for the Taiwan stock market during the crashes period occurring in 1990, 1997 and 2000 1 . Five investor sentiment proxies were selected to measure sentiment, ...
Redefining Indexing Using Smart Beta Strategies
... risk factor that systematically rewards exposure to it7, according to the Capital Asset Pricing Model (CAPM). In addition to the market, other common risk factors — i.e., common sources of risk across the investable universe of equities — and investment styles8 were shown to be potential sources of ...
... risk factor that systematically rewards exposure to it7, according to the Capital Asset Pricing Model (CAPM). In addition to the market, other common risk factors — i.e., common sources of risk across the investable universe of equities — and investment styles8 were shown to be potential sources of ...
Stochastic dominance and behavior towards risk: The market for
... that the individual is initially willing to gamble in the hope of improving his current wealth, and then become risk averse as higher levels of wealth are attained. Conversely, the utility function is assumed to be concave, then convex in the region W − W0 < 0 so that he is risk averse over small lo ...
... that the individual is initially willing to gamble in the hope of improving his current wealth, and then become risk averse as higher levels of wealth are attained. Conversely, the utility function is assumed to be concave, then convex in the region W − W0 < 0 so that he is risk averse over small lo ...
Aims and purpose of the Fund
... solvency level over a reasonable time period and then maintain sufficient assets in order for it to pay all benefits arising as they fall due. This objective will be considered on an employer specific level where appropriate. The general principle adopted by the Fund is that the assumptions used, ta ...
... solvency level over a reasonable time period and then maintain sufficient assets in order for it to pay all benefits arising as they fall due. This objective will be considered on an employer specific level where appropriate. The general principle adopted by the Fund is that the assumptions used, ta ...
2014-15 Audit Report - Pharr-San Juan
... financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the District ...
... financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the District ...
A guide to how we manage our with-profits fund
... After taking any initial charges from your money, we pool the remainder with that of many other investors in our with-profits fund. Each investor is credited with a share of the with-profits fund. The size of your share depends on how much you have paid in and when you paid. The with-profits fund in ...
... After taking any initial charges from your money, we pool the remainder with that of many other investors in our with-profits fund. Each investor is credited with a share of the with-profits fund. The size of your share depends on how much you have paid in and when you paid. The with-profits fund in ...
lloyds investment funds limited
... are rising. The Fund will normally hold a relatively wide range of securities in order to keep a low level of exposure to individual bond issues other than government securities. The Fund may also hold a substantial part of its assets in bank deposits and money market instruments from time to time. ...
... are rising. The Fund will normally hold a relatively wide range of securities in order to keep a low level of exposure to individual bond issues other than government securities. The Fund may also hold a substantial part of its assets in bank deposits and money market instruments from time to time. ...
Vanguard Ultra-Short-Term Bond Fund Prospectus Investor Shares
... in short-term bonds, whose prices are less sensitive to interest rate changes than are the prices of longer-term bonds. • Credit risk, which is the chance that a bond issuer will fail to pay interest or principal in a timely manner or that negative perceptions of the issuer’s ability to make such pa ...
... in short-term bonds, whose prices are less sensitive to interest rate changes than are the prices of longer-term bonds. • Credit risk, which is the chance that a bond issuer will fail to pay interest or principal in a timely manner or that negative perceptions of the issuer’s ability to make such pa ...
Investor Flows and Fragility in Corporate Bond Funds
... fund level, we use the level of cash holdings, since funds with more cash suffer lower liquidation costs in case of massive outflows, and expose their investors to weaker strategic complementarities. As additional measures of fund liquidity, we use a fund’s holdings of cash and government bonds, and ...
... fund level, we use the level of cash holdings, since funds with more cash suffer lower liquidation costs in case of massive outflows, and expose their investors to weaker strategic complementarities. As additional measures of fund liquidity, we use a fund’s holdings of cash and government bonds, and ...
Sticker to Prospectus The Prospectus for ICON ECI Fund Fifteen
... provided by the equipment financing divisions of commercial and industrial banks, large independent leasing and finance companies, and captive and vendor leasing and finance companies. These institutions generally provide financing to companies seeking to finance small ticket and micro ticket equipm ...
... provided by the equipment financing divisions of commercial and industrial banks, large independent leasing and finance companies, and captive and vendor leasing and finance companies. These institutions generally provide financing to companies seeking to finance small ticket and micro ticket equipm ...
Shorts and Derivatives in Portfolio Statistics
... Options are contracts that allow the holder to profit if the price of the underlying asset moves in a certain direction. Call options give the holder (the long position) the right, but not the obligation, to buy an asset at a predetermined strike price and profit when the asset price is higher than ...
... Options are contracts that allow the holder to profit if the price of the underlying asset moves in a certain direction. Call options give the holder (the long position) the right, but not the obligation, to buy an asset at a predetermined strike price and profit when the asset price is higher than ...
Evaluating the Dynamic Nature of Market Risk by Todd Hubbs, Todd
... virtually by definition not constant over time. It is important for entities operating within the agricultural sector to identify, assess, and monitor risks linked to commodities over time. Such understanding of the risk levels facing agriculture is useful for proper planning, policy, education, and ...
... virtually by definition not constant over time. It is important for entities operating within the agricultural sector to identify, assess, and monitor risks linked to commodities over time. Such understanding of the risk levels facing agriculture is useful for proper planning, policy, education, and ...
Stock market performance and pension fund investment policy
... funding ratio of the pension fund.1 During the nineties abundant equity returns led to premium reductions and even contribution holidays for pension plan sponsors. However, the risks of equity holdings surfaced after the collapse of the stock market in 2000-2002, which resulted in large losses for p ...
... funding ratio of the pension fund.1 During the nineties abundant equity returns led to premium reductions and even contribution holidays for pension plan sponsors. However, the risks of equity holdings surfaced after the collapse of the stock market in 2000-2002, which resulted in large losses for p ...
Paper
... current market price for a particular share to the price at which an investor has initially purchased it. He then tests whether these paper gains or losses influence the likelihood of a divestment. With real estate data, however, we are missing two crucial pieces of information to calculate paper ga ...
... current market price for a particular share to the price at which an investor has initially purchased it. He then tests whether these paper gains or losses influence the likelihood of a divestment. With real estate data, however, we are missing two crucial pieces of information to calculate paper ga ...
Dalton Street Capital Absolute Return Fund Product Disclosure
... subsidiary of Prodigy. The team is made up of investment professionals with deep Australian and Asian equity market experience coupled with detailed derivative and leveraged fund management knowledge. Dalton Street uses complex systematic investment strategies that aims to deliver positive absolute ...
... subsidiary of Prodigy. The team is made up of investment professionals with deep Australian and Asian equity market experience coupled with detailed derivative and leveraged fund management knowledge. Dalton Street uses complex systematic investment strategies that aims to deliver positive absolute ...
Hedge Funds and Governance Targets
... debates between advocates of management empowerment and advocates of aggressive monitoring by actors in the capital markets. This Article intervenes with an empirical question: What, based on the record so far, have the hedge funds actually done to their targets? Information has been collected on 13 ...
... debates between advocates of management empowerment and advocates of aggressive monitoring by actors in the capital markets. This Article intervenes with an empirical question: What, based on the record so far, have the hedge funds actually done to their targets? Information has been collected on 13 ...
IM Regulatory Review - Eversheds Sutherland
... 12.17.2009 President Obama signed H.R. 3288, the appropriations bill that includes funding for the Securities and Exchange Commission (SEC). Accordingly, effective December 21, 2009, the § 6(b) fee rate applicable to the registration of securities, the § 13(e) fee rate applicable to the repurchase o ...
... 12.17.2009 President Obama signed H.R. 3288, the appropriations bill that includes funding for the Securities and Exchange Commission (SEC). Accordingly, effective December 21, 2009, the § 6(b) fee rate applicable to the registration of securities, the § 13(e) fee rate applicable to the repurchase o ...
malta 2016 - HFM Global
... as banks to transfer the risk of some exposures to other banks, or long-term investors such as insurance companies and asset managers. This allows for the freeing up of part of their capital that would otherwise be taken up to cover for the risk in the sold exposures. Thereby allowing banks to gener ...
... as banks to transfer the risk of some exposures to other banks, or long-term investors such as insurance companies and asset managers. This allows for the freeing up of part of their capital that would otherwise be taken up to cover for the risk in the sold exposures. Thereby allowing banks to gener ...
Mutual Fund Flows and Fluctuations in Credit and Business Cycles
... returns over a year and bond market index return over a period of 6-months. In contrast, equity flows (for the stock market) and HYNSR (for the bond market) show an indication of immediate reversals. All these pieces of evidence support the notion that our measure of intra-family flow shifts towards ...
... returns over a year and bond market index return over a period of 6-months. In contrast, equity flows (for the stock market) and HYNSR (for the bond market) show an indication of immediate reversals. All these pieces of evidence support the notion that our measure of intra-family flow shifts towards ...
Investors` Horizons and the Amplification of Market Shocks
... selling pressure generated by the withdrawals experienced by the mutual funds and the hedge funds holding the stocks. Consistently with the findings of Karolyi, Lee and van Dijk (2011), the demand of short horizon investors plays an important role in explaining their sales and the effects on stock p ...
... selling pressure generated by the withdrawals experienced by the mutual funds and the hedge funds holding the stocks. Consistently with the findings of Karolyi, Lee and van Dijk (2011), the demand of short horizon investors plays an important role in explaining their sales and the effects on stock p ...
FIRM ELEMENT TRAINING - Securities Training Corporation
... limit up-limit down provision to prevent trades from occurring outside of predetermined price parameters, and trading pauses on individual stocks when prices moved outside a preestablished range. We discuss the details of these changes designed to temper the volatility of markets dominated by algori ...
... limit up-limit down provision to prevent trades from occurring outside of predetermined price parameters, and trading pauses on individual stocks when prices moved outside a preestablished range. We discuss the details of these changes designed to temper the volatility of markets dominated by algori ...
Two Essays on Managerial Behaviors in the Mutual Fund Industry
... investment discretion over portfolios with an aggregate value of $100 million or more must file quarterly reports of portfolio holdings on Form 13F within 60 days after the end of each quarter. Although funds were required to report semiannually after an amendment in 1985, a majority of managers vol ...
... investment discretion over portfolios with an aggregate value of $100 million or more must file quarterly reports of portfolio holdings on Form 13F within 60 days after the end of each quarter. Although funds were required to report semiannually after an amendment in 1985, a majority of managers vol ...
Real Estate Investment Vehicles and Agency Theory
... Property is one of the main investment assets class beside bonds and shares, often being considered as a real value secured investment. There are various ways in which investors gain access to the property market. The main two ways are by owning property directly or through indirect property investm ...
... Property is one of the main investment assets class beside bonds and shares, often being considered as a real value secured investment. There are various ways in which investors gain access to the property market. The main two ways are by owning property directly or through indirect property investm ...