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Models For Predicting Corporate Financial Distress
2,341 wordsFACTORS AFFECTING FINANCIAL HEALTH 3 Capital Structure and Capital Adequacy 3 Operating Cash Flows and Cost Structure 4 Asset Conversions Growing Broke 5 Asset Utilisation Efficiency/Turnover 5 Other Statistical Failure Prediction Models 10 Alternative Models - Artificial Neural Networks 12 A company trying to achieve its business plan faces problems similar to those faced by a driver embarking on a long trip. The likelihood that car and driver will reach their destination is dependent on: 1) ho...
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Pension Founds And Financial Market
1,680 words... isk of encouraging irresponsible behavior is present. In any event, the likelihood of a government 'bail-out in extreme circumstances suggests that regulatory oversight is desirable. Investing in Emerging Markets? The growing institutionalization of savings, driven in large part by population ageing and pension reform in the OECD countries, has provided an important stimulus for sustained flows of private capital to emerging markets. The scale of flows in the 1990 s from the 'older OECD area...
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Capital Asset Pricing Asset Pricing Model
2,175 wordsBefore making comparison between the CAPM and APT, we should first see what they are about. The CAPM is a theory about the way how assets are priced in relation to their risk. The CAPM was brought about to answer the question which came from Markowitzs mean-variance portfolio model. The question was how to identify tangency portfolio. Since then, the CAPM has developed into much, much more. CAPM shows that equilibrium rates of return on all risky assets are a function of their covariance with ma...
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The Capm And Apt Does One Outperform Other
2,097 words... E (Ri) in excess returns form; E (Ri) - RF = &# 955; 1 bi 1 ++ &# 955; kit, this is the APT equation. E (Ri) - RF is excess return on risk free asset. &# 955; k = risk premium; price of risk in equilibrium for the kth factor. &# 955; k = &# 948; k-Rf, &# 948; k; is expected returns on a portfolio with the unit sensitivity to the kth factor and zero sensitivity to all other factors. And so risk premium, &# 955; k, is equal to the difference between the expectation of a portfolio that has unit...
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Intellect Economics Increasing Returns
1,315 wordsIntroduction Our understanding of how markets and businesses is an understanding based squarely upon the assumption of diminishing returns: products or companies that get ahead in a market eventually run into limitations, so that a predictable equilibrium of prices and market shares is reached. The theory was in rough measure valid for the bulk-processing, smokestack economy of Marshalls day. And it still thrives in todays economics textbooks. But steadily and continuously in this century, Weste...
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Increasing Returns Diminishing Returns
1,283 words... and most popular in a market, such as DOSs, can only last as long as a particular wave lasts. So, we can usefully think of two economic regimes or worlds: a bulk-production world yielding products that essentially are based on resources with a little knowledge and operating according to Marshalls principles of diminishing returns, and a knowledge-based part of the economy yielding products that essentially are based on knowledge with a little resources and operating under increasing returns....
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Portfolio Management Performance Measures Of Expected Rate Return
2,189 wordsPortfolio management. PERFORMANCE MEASURES OF EXPECTED RATE OF RETURN. Expected rates of return are based on the main concept of risk vs. return. Therefore, the higher the risks the higher the return should there be. If the two securities have the same risk, the security that offers more return based on the given risk should be accepted. Sharpe, Treynor and Jenson are some of the methods aimed at the measuring the processes used to determine the expected rates of return. Sharpe and treynor measu...
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Cov Yt Xt Cov Corr Xt Earnings
6,563 wordsDeterminants Of The Returns-Earnings Correlation Essay, Research Determinants Of The Returns-Earnings Correlation Determinants of the Returns-Earnings Correlation This paper is based on a chapter of the authors dissertation at Columbia University. The author thanks her committee members James Ohlson, Trevor Harris, Asia Ali, and Bruce Lehmann for their guidance. This paper has benefitted from the comments provided by the participants of the Ohio State University colloquium, the Third Conference ...
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Reader Learns Young Lady
5,930 wordsCHAPTER 1: PLAYING PILGRIMS Christmas wont be Christmas without any presents, grumbled Jo, lying on the rug. 'Its so dreadful to be poor! sighed Meg, looking down at her old dress. 'I dont think its fair for some girls to have plenty of pretty things, and other girls nothing at all, added little Amy, with an injured sniff. 'Weve got father and mother and each other, said Beth, contentedly, from her corner. The four young faces on which the firelight shone brightened at the cheerful words In this...
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Gross Domestic Product Past Three Years
2,304 wordsInvestments Re-emerging Markets D. Friar Investments 591 Monday, 27 th May, 1997 Re-Emerging Markets? During 1993, the buying fever for emerging market shares was at its peak and each day a mutual fund specializing in investment in ever more exotic locations seemed to appear. Mexico, Latin America and even post communist Eastern Europe were in turn touted as the next? dragon? economies of the 90? s. Unfortunately, anybody who put cash into an emerging market equity fund three years ago, lured by...
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