Ngày tải lên: 07/02/2013, 09:32
... were increased by a uniformly small amount for all banks. FINANCIAL INDUSTRY PERSPECTIVES 18 What makes a bank efficient? A look at financial characteristics and bank management and ownership ... management and ownership struc- ture. Among these are: Linda Allen and A. Sinan Cebenoyan, “Bank Acquisitions and Ownership Struc- ture: Theory and Evi- dence,” Journal...
Ngày tải lên: 06/03/2014, 10:20
What’s Ahead for Stocks and Bonds— And How to Earn Your Fair Share ppt
... is always a plus, and that corporate earnings growth has been positive in every moving decade since 1937—almost 70 years! Rather, the reason that annual stock returns are so volatile is largely ... with a final statistical example that suggests what the future may hold. With a complex exercise called “Monte Carlo Simulation,” we can in fact project the odds that are passively-man...
Ngày tải lên: 06/03/2014, 04:20
Jeremy Grantham: US Stocks are Expensive and Bonds are Disgusting ppt
... inflation-adjusted annual return of 4.8%. But, he said, “you would lose a ton in US small-cap.” International large- and small-cap stocks and emerging equities are at fair price, he said. Grantham said ... Mason Hawkins, the chairman and CEO of Memphis-based Southeastern Asset Management, spoke the previous day and articulated the opposing view: Margins and earnings are nei...
Ngày tải lên: 06/03/2014, 04:20
COMMON RISK FACTORS IN THE RETURNS ON STOCKS AND BONDS potx
Ngày tải lên: 06/03/2014, 08:20
Tài liệu Money and Bonds: An Equivalence Theorem doc
... rate of int er es t, and the real value of aggregate money-holdings always equals a ggregate bond-holdings. As we will see later, this will typically mean that aggregate money-holdings will be sh ... (1980), Cavalcanti and Wallace (1999) and Kocherlakota (2003) all assume that the government can use no taxes other than inflation taxes. In this paper, I elimin ate these differences acros...
Ngày tải lên: 15/02/2014, 13:20
Research " Essays on the Equilibrium Valuation of IPOs and Bonds " pdf
... fact that IPOs, as compared to size-matched seasoned stocks, have greater changes of ‡oat and short-sale restriction, greater creative destruction impact, and greater positive skewness in payo¤ ... a binding short-sale constraint. Compared to a reference stock that has 100% ‡oat (i.e. 1 ¡ » = 0), that does not impose a competitive threat to the established human capital (´ = 0), a...
Ngày tải lên: 07/03/2014, 02:20