the relationship between transaction costs of external financing and
... and DPR because larger firms normally face lower issuing costs. Based on the residual dividend theory and pecking order theory of Myers and Majluf (1984), Alli et al. argued that companies experiencing high growth rates should be characterised by low dividend payout ratios since they generally have ...
... and DPR because larger firms normally face lower issuing costs. Based on the residual dividend theory and pecking order theory of Myers and Majluf (1984), Alli et al. argued that companies experiencing high growth rates should be characterised by low dividend payout ratios since they generally have ...
Why was stock market volatility so high during the Great Depression
... particularly large equity return volatility. Our data set, which contains a number of relatively advanced. countries from Europe (Germany, France, Sweden, Italy, UK, Netherlands, Belgium, Norway, and Switzerland) plus the US is useful in testing this proposition. While some of these nations — such a ...
... particularly large equity return volatility. Our data set, which contains a number of relatively advanced. countries from Europe (Germany, France, Sweden, Italy, UK, Netherlands, Belgium, Norway, and Switzerland) plus the US is useful in testing this proposition. While some of these nations — such a ...
The long term equilibrium interest rate and risk premiums under
... benefit generations far into the future. With an expected per capita growth of 1.1-1.2 per cent in a 200 year perspective, as assumed in the Stern report, it has been argued that mitigation will not be a natural conclusion for any positive real interest rate, no matter how small, so long as the util ...
... benefit generations far into the future. With an expected per capita growth of 1.1-1.2 per cent in a 200 year perspective, as assumed in the Stern report, it has been argued that mitigation will not be a natural conclusion for any positive real interest rate, no matter how small, so long as the util ...
Ch 24 Perf measurement 2/e
... Specifically, this result demonstrates that a lower correlation with the market index reduces the Sharpe ratio. Hence, if alpha is not sufficiently large, the portfolio is inferior to the index. Another way to think about this conclusion is to note that, even for a portfolio with a positive alpha, i ...
... Specifically, this result demonstrates that a lower correlation with the market index reduces the Sharpe ratio. Hence, if alpha is not sufficiently large, the portfolio is inferior to the index. Another way to think about this conclusion is to note that, even for a portfolio with a positive alpha, i ...
How to Read a Value Line Fund Advisor Report
... lower multiples, because a failure to meet earnings expectations can sometimes result in sharp declines in the stock price. Stocks with lower multiples are generally known as value stocks and tend to be shares of more-stable companies in mature or slow-growing industries or companies that have falle ...
... lower multiples, because a failure to meet earnings expectations can sometimes result in sharp declines in the stock price. Stocks with lower multiples are generally known as value stocks and tend to be shares of more-stable companies in mature or slow-growing industries or companies that have falle ...
Pricing Convertible Bonds using Stochastic Interest Rate
... A convertible bond is a bond that may be converted into stocks. Just like a normal bond it has a face value that will be paid back at the date of maturity. The holder has the right to convert the bond into a predetermined number of shares in the company in a given period of time. The convertible bon ...
... A convertible bond is a bond that may be converted into stocks. Just like a normal bond it has a face value that will be paid back at the date of maturity. The holder has the right to convert the bond into a predetermined number of shares in the company in a given period of time. The convertible bon ...
guyana goldfields inc. management`s discussion and analysis for
... be read in conjunction with the unaudited condensed interim consolidated financial statements of the Company for the three months ended January 31, 2012 and 2011, together with the notes thereto, as well as the audited annual consolidated financial statements for the year ended October 31, 2011 and ...
... be read in conjunction with the unaudited condensed interim consolidated financial statements of the Company for the three months ended January 31, 2012 and 2011, together with the notes thereto, as well as the audited annual consolidated financial statements for the year ended October 31, 2011 and ...
Book-introduction to derivatives
... To elaborate further market participants can be like this:Hedger Hedgers face risk associated with the price of an asset. They use futures or options markets to reduce or eliminate this risk Speculators Speculators wish to bet on future movements in the price of an asset. Derivatives can give them a ...
... To elaborate further market participants can be like this:Hedger Hedgers face risk associated with the price of an asset. They use futures or options markets to reduce or eliminate this risk Speculators Speculators wish to bet on future movements in the price of an asset. Derivatives can give them a ...
(ZMD-TSX) -$0.28 Target - $0.55 (BUY)
... ZoomMed is building a marketplace for pharmaceuticals by bringing together a network or physicians, pharmacies and pharmaceutical advertisers. ZMD has proven itself to be the link that moves prescription information from the point of prescribing into an electronic medical/health record system. Elect ...
... ZoomMed is building a marketplace for pharmaceuticals by bringing together a network or physicians, pharmacies and pharmaceutical advertisers. ZMD has proven itself to be the link that moves prescription information from the point of prescribing into an electronic medical/health record system. Elect ...
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... Earnings are relatively understated compared to the U.S. (33.9%, according to Aron (1991) Historically high PE ratios were deflated by adjustments for reserves, consolidation practices, depreciation, crossholdings, and differences in capitalization (Morgan Stanley) Higher levels of gearing (leverage ...
... Earnings are relatively understated compared to the U.S. (33.9%, according to Aron (1991) Historically high PE ratios were deflated by adjustments for reserves, consolidation practices, depreciation, crossholdings, and differences in capitalization (Morgan Stanley) Higher levels of gearing (leverage ...
Heterogeneity and Portfolio Choice: Theory and
... or beliefs. Second, public policy questions, such as whether investing social security contributions in the stock market would be welfare improving, or whether current tax laws favoring investments in owncompany stock should be changed, are also informed by a clearer understanding of the reasons for ...
... or beliefs. Second, public policy questions, such as whether investing social security contributions in the stock market would be welfare improving, or whether current tax laws favoring investments in owncompany stock should be changed, are also informed by a clearer understanding of the reasons for ...
Chapter 11, Marketable Securities and Investments
... FASB 115 requires the following disclosures for each period for marketable securities: 1. The aggregate market value, gross unrealized holding gains, gross unrealized holding losses, and amortized costs for debt securities held to maturity and equity securities available for sale. 2. The proceeds fr ...
... FASB 115 requires the following disclosures for each period for marketable securities: 1. The aggregate market value, gross unrealized holding gains, gross unrealized holding losses, and amortized costs for debt securities held to maturity and equity securities available for sale. 2. The proceeds fr ...
Recessions and balanced portfolio returns
... deep and long-lasting economic contractions following a run-up in asset prices and leverage—for example, the so-called balance-sheet recessions of the 1930s and 2008–2009—have been associated with lower balanced-portfolio returns, as illustrated in Figure 4. In addition to the depth and length of an ...
... deep and long-lasting economic contractions following a run-up in asset prices and leverage—for example, the so-called balance-sheet recessions of the 1930s and 2008–2009—have been associated with lower balanced-portfolio returns, as illustrated in Figure 4. In addition to the depth and length of an ...
Short- Sale Constraints and Dispersion of Opinion: Evidence from
... reactions. One of the most notorious examples cited by the opponents of unrestricted short sales is the case of black Wednesday in 1992, when George Soros sold short 10 billion British pounds, breaking the Bank of England. The goal of this paper is to shed some light on the controversy over short sa ...
... reactions. One of the most notorious examples cited by the opponents of unrestricted short sales is the case of black Wednesday in 1992, when George Soros sold short 10 billion British pounds, breaking the Bank of England. The goal of this paper is to shed some light on the controversy over short sa ...
DOC - Valhi, Inc.
... Audit Committee. The audit committee assists the Board of Directors in fulfilling its oversight responsibilities relating to the financial accounting and reporting practices of Valhi. The audit committee's primary responsibilities are to serve as an independent and objective party to review Valhi's ...
... Audit Committee. The audit committee assists the Board of Directors in fulfilling its oversight responsibilities relating to the financial accounting and reporting practices of Valhi. The audit committee's primary responsibilities are to serve as an independent and objective party to review Valhi's ...
30. Earnings Per Share
... For the purpose of calculating diluted earnings per ordinary share, the weighted average number of ordinary shares outstanding is adjusted for the effects of all dilutive potential ordinary shares. The Company has three categories of dilutive potential ordinary shares: share options, performance sha ...
... For the purpose of calculating diluted earnings per ordinary share, the weighted average number of ordinary shares outstanding is adjusted for the effects of all dilutive potential ordinary shares. The Company has three categories of dilutive potential ordinary shares: share options, performance sha ...
MỞ ĐẦU
... mineral resources, managed exclusively by the State. These mineral resources which are delivered by the State are directly managed by Vinacomin and Vinacomin holds most of shares and governs other coal exploitation JOINT STOCK COMPANY. Therefore, it is necessary to have an effective management mecha ...
... mineral resources, managed exclusively by the State. These mineral resources which are delivered by the State are directly managed by Vinacomin and Vinacomin holds most of shares and governs other coal exploitation JOINT STOCK COMPANY. Therefore, it is necessary to have an effective management mecha ...