risk and return over the full sample period

... of the stock, and ignore any contributions from its fluctuations The combination of these two hypotheses—that similar risks demand similar returns, and that short-term investors look at risk and ... view, the benchmark return is beta times the market return, enhanced by a factor equal to the square root of the ratio of the trading frequency of the stock to that of the market Furthermore, the ... tick and then unwound, with the return being evaluated a day later, where one day is the tick length of the riskless bond investment which provides the benchmark return More generally, the portfolio...

Ngày tải lên: 12/12/2013, 14:15

... from the project at different stages of the project The first row gives the value of the project and the second row gives the risk premium of the project (annualized expected return minus risk- free ... hypotheses about how these innovation events should impact the systematic and idiosyncratic equity risk and thus the expected return Their model captures different sources of risk embedded in the ... of the project reduces the future fixed payments and leads to an increase the value of the option The net result will be a decrease in the risk premium of the project The option valuation of the...

Ngày tải lên: 30/09/2015, 16:34

... for these individuals, western medicine community pharmacists might be the only point of contact when they had minor aliments Therefore, there is a need in promoting and extending the roles of the ... comments on the interpretations of data and on the manuscript SMG and EKY supervised the whole research process All authors read and approved the final manuscript Competing interests The authors ... Authors’ contributions VCHC, CHL and SMG conceived the research idea CHL conducted the statistical analysis VCHC interpreted the result and wrote the first draft of the manuscript FWKC, JHSY, ELYW...

Ngày tải lên: 25/10/2012, 10:06

... the loan and deposit rates are the extent of competition in the markets, the interest rate risk to which the bank is exposed, the degree of risk aversion of the bank management and the size of ... negative for the net interest margins and the total spread, but mostly positive for the return on equity and the non-interest margin For the other two measures (the net interest spread in the non-bank ... in the constant term at the beginning of 1994 and 1998 The VAR model for the return on equity (ROE) does not contain the equity ratio, and the one for the non-interest margin does not contain the...

Ngày tải lên: 06/03/2014, 14:20

... PA, USA) under argon protection The Xis samples for DSC were dialysed against the buffers, and then filtered and degassed prior to filling of the calorimetric cell The buffers used in this work consisted ... annealed, and the double-stranded X1 was purified by gel filtration in buffer containing 40 mM K2HPO4 and 100 mM NaCl, pH 6.0 The double-stranded X1 DNA was concentrated and equilibrated with the corresponding ... Cp,pr(T), the partial specific volumes of Xis_wt and Xis_C28S were assumed to be 0.73 mLÆg)1 [26] The protein concentration, derived from the absorbance of the samples, varied in the DSC samples...

Ngày tải lên: 23/03/2014, 15:21

... of foliation and growth variables Boxes represent values between the lower and the upper quartile including the median, while the whiskers show the range (min–max) Dots (°) and asterisks (*) were ... insight over a period of several decades Since winter buds are formed during the vegetation period prior to the year of shoot elongation, the period from March to October of the previous growing period ... more and more by proventive shoots, competition for water and nutrients lowers the supply of regularly formed shoots and therefore results in a lower number of needle primordia On the other hand,...

Ngày tải lên: 08/08/2014, 14:21

... performed the experimental work, analyzed the data, and wrote the manuscript RG conceived of the study, performed the design and coordination of the study, analyzed the data, and revised the manuscript ... study, and drafted the manuscript MR has assisted in writing the manuscript AH and AS analyzed microbiological and sequencing data, and revised the manuscript All authors read and approved the final ... used the broad-range PCR, cloning and sequencing the entire 16S rDNA and demonstrated the presence of a large number of bacterial DNA in the synovial tissue (ST) of patients with ReA, UA, and other...

Ngày tải lên: 09/08/2014, 14:22

... unique risk in addition to market risk The unique risk reflects uncertain events that are unrelated to the return on the market portfolio The Capital Asset Pricing Model does not predict these ... σP = 0.985 = 9.85% Therefore, he can even better by investing equal amounts in the corporate bond portfolio and the index fund His expected return increases to 11.5% and the standard deviation ... 10.0)/14.6 = 0.233 Therefore, an investor should hold Portfolio C 77 b The beta for Amazon relative to Portfolio C is equal to the ratio of the risk premium of Amazon to the risk premium of the portfolio...

Ngày tải lên: 14/08/2014, 11:20

... Rates of Return  Measuring Investment Returns over Multiple Periods • Arithmetic average - Sum of returns in each period divided by number of periods • Geometric average - Single per -period return ... Allocation - Choice between risky and risk- free assets • Complete Portfolio - Entire portfolio, including risky and risk- free assets Allocating Capital Between Risky & Risk- Free Assets  Possible ... Between Risky & Risk- Free Assets Issues in setting weights - Examine risk & return tradeoff - Demonstrate how different degrees of risk aversion will affe ct allocations between risky and risk free...

Ngày tải lên: 06/02/2015, 17:44

... năm 1995 suốt vài tháng bắt đầu có người 5.4.2 Tòa nhà Liên bang Oakland Tổng cộng có 107 điểm theo dõi Tòa nhà Liên bang Oakland (Lưu ý, tất điểm lấy mẫu, nhiều tính toán bắt nguồn từ điểm lấy ... ASHRAE phê duyệt tiêu chuẩn truyền thông mới, để xây dựng hệ thống tự động hóa – chuẩn The Building Automation and Control Network (BAC-net) Tiêu chuẩn xem hệ thống HVAC tập đối tượng Tuy nhiên, ... thiết bị Chúng thường không sử dụng để theo dõi nhu cầu điện Trong số trường hợp, nhiều cảm biến xác cần cho việc chẩn đoán cảm biến có sẵn EMCS Ví dụ, để theo dõi hiệu làm lạnh, cần thiết phải...

Ngày tải lên: 01/04/2015, 16:57

... the Bangkok and Huế courts not only depended on their direct relations but also on the contestation of overlordship over their tributary peripherals, the Cambodian and the Lao kingdoms Siam and ... French took over Vietnam The age of colonialism marked the end of the tributary system in the Southeast Asian peninsula, and the end of the great states and expansionism of Siam and Vietnam viii ... Introduction - The Siamese and Vietnamese concepts of statehood and kingship - Worldviews: the creation of ‘selfness’ and the differentiation of ‘otherness’ - Tributary expansionism in the Cambodia and...

Ngày tải lên: 16/10/2015, 11:59

... notions of the ‘self’ and ‘other’ and the 12 interactions of these two Worldview defines the self, determining the boundaries of 13 “who and what I am.” It also shapes the ‘non-self’ or the ‘other’, ... Siamese and the Vietnamese conceived of and imagined their empire hierarchically They viewed their own system as superior and dominant, and that of 20 the other states as inferior and subordinate The ... and Vietnam at the same time Siam and Vietnam aimed to expand their territories to guarantee their dominance over Cambodia and Laos Both courts saw themselves as an overlord and a protector The...

Ngày tải lên: 16/10/2015, 11:59

... interviewees for their time and insights March 2009 Strengthening governance, risk and compliance in the banking industry © Economist Intelligence Unit Limited 2009 Strengthening governance, risk and compliance ... Intelligence Unit Limited 2009 Strengthening governance, risk and compliance in the banking industry Preface Strengthening governance, risk and compliance in the banking industry is an Economist ... business units and control functions dedicated to monitoring credit, market, liquidity, operational, legal and compliance risk The fruits of these governance, risk and compliance efforts were then factored...

Ngày tải lên: 06/12/2015, 23:13

... for their time and insights February 2009 Strengthening governance, risk and compliance in the insurance industry © Economist Intelligence Unit Limited 2009 Strengthening governance, risk and ... Intelligence Unit Limited 2009 Strengthening governance, risk and compliance in the insurance industry Preface Strengthening governance, risk and compliance in the insurance industry is an Economist ... identify and react to emerging risks Risk is opportunity for insurers, but they need a tighter grip on their overall portfolio of risk with the emergence of new and imperfectly understood risks,...

Ngày tải lên: 06/12/2015, 23:13

... immediately to the southeast of the Tibetan Plateau, and the Mei-yu front is found to originate from the eastern flank of the plateau and extends eastward about 32°N A weak cold trough The Second ... amplifies and propagates to the east, and the Mei-yu front starts to develop toward Japan (Fig 1b,c) On the last day when the hot low weakens, another cold trough is re-established in northern China and ... that the difference is not significant until 1200 UTC 10 June (Fig 3a), with a “cooling” on the cold side and a “warming” on the warm side of the front section over the Korean peninsula and northern...

Ngày tải lên: 09/08/2014, 18:20

... analyze the frequency and the association between the type of audit opinion and audit rotation in Malaysia in terms of mandatory rotation of audit partner and voluntary rotation of audit for the period ... Companies (PLCs) in Malaysia over a period of ten (10) years and to investigate the association between the audit rotation (rotation of audit partner and audit firm) and the types of audit opinion ... opinion from the Big Four and Non-Big Four audit firms for the period of ten years; To examine the association of audit opinion and audit rotation (mandatory rotation of audit partner and voluntary...

Ngày tải lên: 06/01/2015, 19:44

... the standard deviation? 13-8 Portfolios • A portfolio is a collection of assets • An asset’s risk and return are important in how they affect the risk and return of the portfolio • The risk- return ... Returns • Risk: Systematic and Unsystematic • Diversification and Portfolio Risk • Systematic Risk and Beta • The Security Market Line • The SML and the Cost of Capital: A Preview 13-3 Expected Returns ... 7.5% • What are the expected return and standard deviation for each asset? • What are the expected return and standard deviation for the portfolio? 13-14 Another Example • Consider the following...

Ngày tải lên: 25/03/2015, 19:49

... take investment risk, but rather to ensure a direct link between the assets in which they invest their underlying risks and the assigned capital charge He adds: “[Solvency II] may, therefore, have ... in the Netherlands, says: “There are two aspects to consider: the capital that you need to set aside for investing in risky assets and the volatility of that asset price Although hedge funds and ... planning on increasing the use of derivatives, they will need to demonstrate they have the appropriate systems to be able to capture the impact on the business through their own risk and self assessment...

Ngày tải lên: 06/12/2015, 23:08

... understanding the dynamics within the context of risk management While we ultimately want to understand the relationship between credit risk, including the risk of default, migration and recovery, and ... given period (a quarter or a year), we first find number of firms at the beginning of the period, and then use it to divide number of defaults during the period among these firms Taking the change ... definitive and comprehensive guidance on the assessment of single-obligor default risk and for the bottom-up analysis of risk and return of credit portfolios To get a better understanding of these...

Ngày tải lên: 26/10/2012, 11:21

... temperature over the period 1983 – 2002 The raw data were obtained from the meteorological stations of the National Observatory of Athens (NOA) [8] and of the Aristotle University of Thessaloniki ... trend in the eastern and south-eastern parts of the Mediterranean, indicating a less frequent expansion of the low pressure over the area and therefore a weakening of the Etesian winds and a subsequent ... to the Greek Insulation Code as possible The interior temperature of the building θint was set constant during all day and equal to 20ºC for the winter period and 26ºC for the summer period The...

Ngày tải lên: 05/09/2013, 16:10