Download or read book Diversification and Cash Dynamics written by Tor-Erik Bakke and published by . This book was released on 2016 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do diversified firms hold significantly less cash than focused firms? We study this using a dynamic model of corporate investment, saving, and diversification decisions. We find that investment dynamics are more important in explaining the cash differences than financing frictions. More efficient internal capital markets increase cash differences and are especially valuable when a firm diversifies or refocuses. Contrary to static models, more diverse conglomerates have lower cash differences. Endogenous selection - diversifying firms are larger and have better growth opportunities - accounts for 68% of the cash difference while the diversification event itself reduces cash holdings by 32%.

Download or read book The New Money Dynamics written by Venita VanCaspel and published by . This book was released on 1978 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive guide to building a sizeable fortune through currently available financial-planning techniques includes advice on moving financial assets, investing, tax advantages, limited partnerships, and other topics.

Download or read book The Dynamics of Geographic Versus Sectoral Diversification written by and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Maximizing Cash Flow in Multifamily Real Estate written by Dr Maxwell Shimba and published by Independently Published. This book was released on 2023-12-29 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Maximizing Cash Flow in Multifamily Real Estate "Maximizing Cash Flow in Multifamily Real Estate" is a comprehensive guide designed to empower both novice and seasoned investors in navigating the intricate world of multifamily properties. In the multifamily landscape, from duplexes to expansive apartment complexes, this book unravels the complexities, providing readers with a solid foundation to make informed investment decisions. The journey begins with a deep dive into the fundamentals of multifamily real estate, exploring market trends, unique advantages, and risk assessment. It establishes the importance of understanding the multifamily landscape as a prerequisite for success in this dynamic sector. From there, the book delves into risk mitigation strategies, emphasizing the need for a proactive approach in navigating economic downturns, interest rate fluctuations, and local market vulnerabilities. Crafting a robust investment plan is at the heart of this guide. It underscores the significance of goal setting, risk management, and timelines, providing readers with a blueprint for success in the multifamily real estate market. The importance of diversification, both in property selection and portfolio management, is highlighted, offering strategies to balance risk and return effectively. The financing framework takes center stage, guiding investors through capital structure considerations, interest rate dynamics, and strategic timelines. This section equips readers with the tools to optimize their financial approach, ensuring a well-balanced and sustainable investment plan. The guide extends its reach into the realm of effective property management, exploring proactive strategies to boost cash flow. From tenant relations to maintenance practices, readers gain insights into optimizing day-to-day operations for sustained profitability. The book also sheds light on tax optimization strategies, leveraging deductions, entity structuring, and tax-deferral approaches to enhance overall returns. Adapting to market changes is a recurring theme, recognizing the importance of flexibility, portfolio diversification, and leveraging technology for informed decision-making. The book concludes with a powerful message, emphasizing the overarching importance of proactive property management in optimizing cash flow, fostering tenant satisfaction, and ensuring the long-term success of multifamily real estate investments. "Maximizing Cash Flow in Multifamily Real Estate" transcends traditional real estate literature, offering a holistic exploration that goes beyond theory. It is a practical guide infused with actionable insights, providing readers with the tools, strategies, and knowledge needed to thrive in the multifaceted realm of multifamily real estate investment.

Download or read book Asymmetric Dependence in Finance written by Jamie Alcock and published by John Wiley & Sons. This book was released on 2018-02-13 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt: Avoid downturn vulnerability by managing correlation dependency Asymmetric Dependence in Finance examines the risks and benefits of asset correlation, and provides effective strategies for more profitable portfolio management. Beginning with a thorough explanation of the extent and nature of asymmetric dependence in the financial markets, this book delves into the practical measures fund managers and investors can implement to boost fund performance. From managing asymmetric dependence using Copulas, to mitigating asymmetric dependence risk in real estate, credit and CTA markets, the discussion presents a coherent survey of the state-of-the-art tools available for measuring and managing this difficult but critical issue. Many funds suffered significant losses during recent downturns, despite having a seemingly well-diversified portfolio. Empirical evidence shows that the relation between assets is much richer than previously thought, and correlation between returns is dependent on the state of the market; this book explains this asymmetric dependence and provides authoritative guidance on mitigating the risks. Examine an options-based approach to limiting your portfolio's downside risk Manage asymmetric dependence in larger portfolios and alternate asset classes Get up to speed on alternative portfolio performance management methods Improve fund performance by applying appropriate models and quantitative techniques Correlations between assets increase markedly during market downturns, leading to diversification failure at the very moment it is needed most. The 2008 Global Financial Crisis and the 2006 hedge-fund crisis provide vivid examples, and many investors still bear the scars of heavy losses from their well-managed, well-diversified portfolios. Asymmetric Dependence in Finance shows you what went wrong, and how it can be corrected and managed before the next big threat using the latest methods and models from leading research in quantitative finance.

Download or read book Efficiently Inefficient written by Lasse Heje Pedersen and published by Princeton University Press. This book was released on 2019-09-17 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: Efficiently Inefficient describes the key trading strategies used by hedge funds and demystifies the secret world of active investing. Leading financial economist Lasse Heje Pedersen combines the latest research with real-world examples and interviews with top hedge fund managers to show how certain trading strategies make money - and why they sometimes don't. -- from back cover.

Download or read book The Dynamics of Corporate Diversification written by Ali Naghi Mosleshirazi and published by . This book was released on 1979 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: CEMENT INDUSTRY, COMPANY GROWTH, DIVERSIFICATION.

Download or read book Corporate Financial Strategy written by Ruth Bender and published by Routledge. This book was released on 2013-11-07 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt: The field of Corporate Finance has developed into a fairly complex one from its origins focussed on a company's business and financial needs (financing, risk management, capitalization and budgeting). Corporate Financial Strategy provides a critical introduction to the field and in doing so shows how organizations' financial strategies can be aligned with their overall business strategies. Retaining the popular fundamentals of previous editions, the new edition brings things up to date with an array of new examples and cases, new pedagogical features such as learning objectives and suggested further reading, and includes new material on mergers and acquisitions, and valuations and forecasting. Unlike other textbooks, Ruth Bender writes from the perspective of the firm rather than the investor. Combined with a structure driven by issues, the result is a textbook which is perfectly suited to those studying corporate finance and financial strategy at advanced undergraduate, postgraduate and executive education levels.

Download or read book The Dynamics of Performance Volatility and Firm Valuation written by J. Daniel Chi and published by . This book was released on 2017 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: We construct a model to illustrate the dynamics of cash flow volatility and firm valuation. As a firm progressively invests into its growth opportunities, its book value increases and catches up with its market value, reducing the valuation multiple (Q). Cash flow volatility (CFV) decreases due to the diversification effect of investing into more market segments. We document a positive CFV-Q association, which varies with firm size, investment opportunities, and the correlation across market segments. Empirical findings strongly support the model predictions and are robust to alternative explanations offered by extant studies on firm growth, volatility, and valuation.

Download or read book Industrial Dynamics and the Evolution of Markets in the Mutual Fund Industry written by Andreas Mattig and published by Springer Science & Business Media. This book was released on 2010-12-01 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: The asset management, and more specifically the mutual fund industry, is facing major strategic challenges. Although the market is growing overall, its growth attracts a steady stream of new entrants and new products that jeopardize the position and profitability of (large) incumbent firms. In order to cope with this setting, Andreas Mattig focuses on a holistic market model to sketch the mutual fund industry structure. This allows to propose a new measurement approach and to track the industrial dynamics. Based on these theoretical contributions, he concentrates on governance aspects and moulds the results into a practice-oriented strategic framework.

Download or read book The Art of Commitment Pacing written by Thomas Meyer and published by John Wiley & Sons. This book was released on 2024-05-31 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: Advanced guidance for institutional investors, academics, and researchers on how to manage a portfolio of private capital funds The Art of Commitment Pacing: Engineering Allocations to Private Capital provides a much-needed analysis of the issues that face investors as they incorporate closed ended-funds targeting illiquid private assets (such as private equity, private debt, infrastructure, real estate) into their portfolios. These private capital funds, once considered "alternative" and viewed as experimental, are becoming an increasingly standard component of institutional asset allocations. However, many investors still follow management approaches that remain anchored in the portfolio theory for liquid assets but that often lead to disappointing results when applied to portfolios of private capital funds where practically investors remain committed over nearly a decade. When planning for such commitments, investment managers and researchers are faced with practical questions such as: How to measure and control the real exposure to private assets? How to forecast cash-flows for commitments to private capital funds? What ranges for their returns and lifetime are realistic, and how can the investor’s skill be factored in? Over which dimensions should a portfolio be diversified and how much diversification is enough? How can the impact of co-investments or secondaries be modelled? How to design pacing plans that lead to resilient and efficient portfolios? What stress scenarios should be considered and how can they be applied? These are just examples of the many questions for which answers are provided. The Art of Commitment Pacing describes established and new methodologies for building up and controlling allocations to such investments. This book offers a systematic approach for building up and controlling allocations to such investments. The Art of Commitment Pacing is a valuable addition to the libraries of investment managers, as well as portfolio and risk managers involved in institutional investment. The book will also be of interest to advanced students of finance, researchers, and other practitioners who require a detailed understanding of forecasting and portfolio management methodologies.

Download or read book Swords Into Dow Shares written by Rachel Weber and published by Routledge. This book was released on 2018-03-05 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contemporary legal doctrine holds that corporate managers have obligations, first and foremost, to maximize profits for their shareholders. This doctrine is based on the assumption that shareholders alone bear the financial risks and contribute the equity necessary for production. But what if other groups contribute assets and also risk losing their investments? What if other groups actually shelter shareholders from financial risks? Such is the case with the nation's prime defense contractors. By examining the case of defense contracting, where the federal government and, indirectly, the taxpayers assume most of the risks and costs of producing weaponry, Rachel Weber critiques the assumptions underlying our system of corporate governance.The Department of Defense provides contracts for billions of dollars, specialized components and facilities, interest subsidies, tax breaks, and regulatory relief. These public contributions make the record shareholder returns and executive compensation packages of the early 1990s all the more problematic. This book follows the case of General Dynamics, the nation's largest military shipbuilder and considered a trendsetter in the industry for its explicit shareholder orientation. The behavior of contractors like General Dynamics in the post-Cold War period raises serious concerns about the private stewardship of public funds. How can the government make contractors accountable to other public interests? In Swords into Dow Shares Rachel Weber offers some original suggestions for redirecting defense resources to foster innovation, decrease the tax burden of military spending, and help to retain and create high-wage jobs in a civilian-industrial economy.

Download or read book The Boston Consulting Group on Strategy written by Carl W. Stern and published by John Wiley & Sons. This book was released on 2012-06-14 with total page 437 pages. Available in PDF, EPUB and Kindle. Book excerpt: A collection of the best thinking from one of the most innovative management consulting firms in the world For more than forty years, The Boston Consulting Group has been shaping strategic thinking in business. The Boston Consulting Group on Strategy offers a broad and up-to-date selection of the firm's best ideas on strategy with fresh ideas, insights, and practical lessons for managers, executives, and entrepreneurs in every industry. Here's a sampling of the provocative thinking you'll find inside: "You have to be the scientist of your own life and be astonished four times:at what is, what always has been, what once was, and what could be." "The majority of products in most companies are cash traps . . . .[They] are not only worthless, but a perpetual drain on corporate resources." "Use more debt than your competition or get out of the business." "When information flows freely, reputation, more than reciprocity,becomes the basis for trust." "As a strategic weapon, time is the equivalent of money, productivity,quality, even innovation." "When brands become business systems, brand management becomes far too important to leave to the marketing department." "The winning organization of the future will look more like a collection ofjazz ensembles than a symphony orchestra." "Most of our organizations today derive from a model whose original purpose was to control creativity." "Rather than being an obstacle, uncertainty is the very engine of transformation in a business, a continuous source of new opportunities." "IP assets lack clear property lines. Every bit of intellectual property you can own comes with connections to other valuable innovations."

Download or read book Diversification Through Acquisition written by Malcolm S. Salter and published by New York : Free Press. This book was released on 1979 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Swing Pricing and Fragility in Open end Mutual Funds written by Dunhong Jin and published by International Monetary Fund. This book was released on 2019-11-01 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: How to prevent runs on open-end mutual funds? In recent years, markets have observed an innovation that changed the way open-end funds are priced. Alternative pricing rules (known as swing pricing) adjust funds’ net asset values to pass on funds’ trading costs to transacting shareholders. Using unique data on investor transactions in U.K. corporate bond funds, we show that swing pricing eliminates the first-mover advantage arising from the traditional pricing rule and significantly reduces redemptions during stress periods. The positive impact of alternative pricing rules on fund flows reverses in calm periods when costs associated with higher tracking error dominate the pricing effect.

Download or read book The Risky Business of Diversification written by Ralph Biggadike and published by . This book was released on 1979-01-01 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Investment Capital theory and investment behavior written by Dale Weldeau Jorgenson and published by MIT Press. This book was released on 1996 with total page 546 pages. Available in PDF, EPUB and Kindle. Book excerpt: V.1 Capital theory and investment behavior -- V.2 Tax policy and the cost of capital.