Valuation: Part I Discounted Cash Flow Valuation
... While risk is usually defined in terms of the variance of actual returns around an expected return, risk and return models in finance assume that the risk that should be rewarded (and thus built into the discount rate) in valuation should be the risk perceived by the marginal investor in the investm ...
... While risk is usually defined in terms of the variance of actual returns around an expected return, risk and return models in finance assume that the risk that should be rewarded (and thus built into the discount rate) in valuation should be the risk perceived by the marginal investor in the investm ...
2017 10K - The York Water Company
... and maintenance of effective disinfection. The Company holds public water supply permits issued by the DEP, which establishes the groundwater source operating conditions for its wells, including demonstrated 4-log treatment of viruses. All of the satellite systems operated by the Company are in comp ...
... and maintenance of effective disinfection. The Company holds public water supply permits issued by the DEP, which establishes the groundwater source operating conditions for its wells, including demonstrated 4-log treatment of viruses. All of the satellite systems operated by the Company are in comp ...
The State of Middle Market Financing in the US
... “2016 was not a robust year for deal flow. I would characterize it as steady,” said Jeri Harman, chief executive officer at Avante Mezzanine Partners. “The real issue is a lower hit rate from our sponsors which we attribute to higher valuations. Sponsors may be outbid or diligence doesn’t support th ...
... “2016 was not a robust year for deal flow. I would characterize it as steady,” said Jeri Harman, chief executive officer at Avante Mezzanine Partners. “The real issue is a lower hit rate from our sponsors which we attribute to higher valuations. Sponsors may be outbid or diligence doesn’t support th ...
Financial services For development: promoting access in latin america
... volume of financial intermediation and access to services among households and firms show that there are significant differences between developed and developing economies. Moreover, in the case of Latin America, the lag, especially regarding access, is greater than what would initially be expected ...
... volume of financial intermediation and access to services among households and firms show that there are significant differences between developed and developing economies. Moreover, in the case of Latin America, the lag, especially regarding access, is greater than what would initially be expected ...
Inequality and House Prices
... I refer to as lumpy, due to market frictions.4 The lumpiness induces an “illiquidity premium” in the financial rate of return of housing over bonds. In equilibrium, rents depend mostly on aggregate resources, while house prices also respond to changes in inequality. All else equal, a rise in inequal ...
... I refer to as lumpy, due to market frictions.4 The lumpiness induces an “illiquidity premium” in the financial rate of return of housing over bonds. In equilibrium, rents depend mostly on aggregate resources, while house prices also respond to changes in inequality. All else equal, a rise in inequal ...
Temi di Discussione
... our main analysis concerning the pricing of mortgages is restricted to Italy, as information on mortgage contracts, and specifically the interest rate, is collected only in the supplementary EU-Silc questionnaire used by the Italian Institute of Statistics. A specific contribution of this paper to t ...
... our main analysis concerning the pricing of mortgages is restricted to Italy, as information on mortgage contracts, and specifically the interest rate, is collected only in the supplementary EU-Silc questionnaire used by the Italian Institute of Statistics. A specific contribution of this paper to t ...
Risk management for wealth and asset management
... Operational failures were linked to the potential for reputational risk 3 by some firms — and the corollary was that a firm’s reputation and brand required support through more robust risk management techniques. Although reputational risk was generally seen as the fifth most important risk type in t ...
... Operational failures were linked to the potential for reputational risk 3 by some firms — and the corollary was that a firm’s reputation and brand required support through more robust risk management techniques. Although reputational risk was generally seen as the fifth most important risk type in t ...
Beyond Shareholder Value: Normative Standards for Sustainable
... profits.' 3 But is this so-called shareholder primacy theory of profit maximization sustainable? This Article explores issues related to that question, starting with a brief overview of the historical development of corporations and their role in the American economy. The role of corporate directors ...
... profits.' 3 But is this so-called shareholder primacy theory of profit maximization sustainable? This Article explores issues related to that question, starting with a brief overview of the historical development of corporations and their role in the American economy. The role of corporate directors ...
Threat and Risk Assessments - RTF Version
... Agencies or Organisations conducting a TRA may choose to include a “residual risk” column in this Table. This column would measure residual risk after management measures have been conducted. This step does sometimes form part of an AS 4360 methodology. A TRA should use a common approach to the asse ...
... Agencies or Organisations conducting a TRA may choose to include a “residual risk” column in this Table. This column would measure residual risk after management measures have been conducted. This step does sometimes form part of an AS 4360 methodology. A TRA should use a common approach to the asse ...
Management - Griffin 7e
... – A condition in which the availability of each alternative and its potential payoffs and costs are all associated with risks. ...
... – A condition in which the availability of each alternative and its potential payoffs and costs are all associated with risks. ...
Global Insurance Market Opportunities - Thought Leadership
... brokers and advisors to advocate on their behalf against the sophisticated capabilities representing capital. ...
... brokers and advisors to advocate on their behalf against the sophisticated capabilities representing capital. ...
The Value Relevance of Financial Accounting Information - S-WoBA
... measurement rules and of the accounting background in the Czech Republic. The author’s opinion is that the qualitative procedure gives the reader a better insight into the results of the empirical statistical tests. Third, the present study offers a comparison of value relevance of accounting inform ...
... measurement rules and of the accounting background in the Czech Republic. The author’s opinion is that the qualitative procedure gives the reader a better insight into the results of the empirical statistical tests. Third, the present study offers a comparison of value relevance of accounting inform ...
Investment Strategy Statement
... investment managers will hold a mix of investments which reflects their views relative to their respective benchmarks. Within each major market and asset class, the managers will maintain diversified portfolios through direct investment or pooled vehicles. The manager of the passive funds in which t ...
... investment managers will hold a mix of investments which reflects their views relative to their respective benchmarks. Within each major market and asset class, the managers will maintain diversified portfolios through direct investment or pooled vehicles. The manager of the passive funds in which t ...
A Financial Crisis Manual
... year, default rates rose, particularly for “subprime” home mortgages. To assuage fears, Federal Reserve Chairman Ben Bernanke explained in March 2007, “At this juncture…the impact on the broader economy and financial markets of the problems in the subprime market seems likely to be contained.”3 Jose ...
... year, default rates rose, particularly for “subprime” home mortgages. To assuage fears, Federal Reserve Chairman Ben Bernanke explained in March 2007, “At this juncture…the impact on the broader economy and financial markets of the problems in the subprime market seems likely to be contained.”3 Jose ...
Pathways PDS - North Online
... Entity, the Portfolio Manager and AMP Capital are each members of the AMP Group. AMP Capital and the Portfolio Manager have each provided consent to the statements made by or about them and have not withdrawn that consent prior to the issue of this document. No company in the AMP Group other than th ...
... Entity, the Portfolio Manager and AMP Capital are each members of the AMP Group. AMP Capital and the Portfolio Manager have each provided consent to the statements made by or about them and have not withdrawn that consent prior to the issue of this document. No company in the AMP Group other than th ...
Endowment? - Office of the Vice President for Finance and Treasurer
... Reinvesting is moving unused, available funds from derived cash to AIF to increase the future annual income of your endowment. Funds which are fully reinvested will have the reinvestment flag turned to “Y” (yes; reinvest). Funds which are fully reinvested will still have gross and net AIF income ava ...
... Reinvesting is moving unused, available funds from derived cash to AIF to increase the future annual income of your endowment. Funds which are fully reinvested will have the reinvestment flag turned to “Y” (yes; reinvest). Funds which are fully reinvested will still have gross and net AIF income ava ...
Strategy: The Investment Outlook
... minimum/maximum range allowed for equities. Investors with different constraints should be able to translate a certain recommended equity exposure to levels more appropriate for their own portfolios. This approach is used to translate our general asset-mix recommendations into weightings appropriate ...
... minimum/maximum range allowed for equities. Investors with different constraints should be able to translate a certain recommended equity exposure to levels more appropriate for their own portfolios. This approach is used to translate our general asset-mix recommendations into weightings appropriate ...
Measuring financial conditions in major non
... Recent economic events and academic work have highlighted the role of financial conditions for the real economy. To quantify financial conditions in the external environment of the Euro area, this paper develops financial conditions indices for eight economies (US, Japan, UK, China, Brazil, Russia, ...
... Recent economic events and academic work have highlighted the role of financial conditions for the real economy. To quantify financial conditions in the external environment of the Euro area, this paper develops financial conditions indices for eight economies (US, Japan, UK, China, Brazil, Russia, ...
Outlook Half Full
... when US equities became more expensive, we continued to recommend that clients stay fully invested at their strategic allocations. Indeed, we have reiterated that recommendation in our past Outlook publications, client calls and Sunday Night Insight reports as many as 59 times since January 2010. ...
... when US equities became more expensive, we continued to recommend that clients stay fully invested at their strategic allocations. Indeed, we have reiterated that recommendation in our past Outlook publications, client calls and Sunday Night Insight reports as many as 59 times since January 2010. ...