Download or read book Essays in Finance Ser 1 2 written by Sir Robert Giffen and published by . This book was released on 1886 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on Finance written by Sir Robert Giffen and published by . This book was released on 1880 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays in Finance written by Robert Giffen, Sir and published by Palala Press. This book was released on 2016-05-09 with total page 502 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Download or read book Two Essays in Finance written by Ward R. Kangas and published by Universal-Publishers. This book was released on 1997-10 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on data on publicly traded insurance firms, the first essay examines questions about the effect of large catastrophic events on insurance firms. Rather than looking at a single event, thirty catastrophic events were aggregated into quintiles and the cumulative abnormal returns around these events were found to be significantly positive over a 25 day trading window. There is no significant evidence that post-catastrophic stock returns are correlated to the magnitude of the catastrophe. The second essay analyzes the effect of a large land grant university, the University of Illinois, on the State Treasury of Illinois. If the State Treasury were acting as its own agent trying to maximize revenues, would it choose higher education as an investment versus other alternative investments. While it is true the State makes large expenditures for the operations of the University, it is also true that individuals receiving degrees on average receive higher incomes. Taxes or higher incomes offset the cost of operating the University. The study is broken out by the level of student: undergraduate, masters, doctorate, medical professional, and by function of the University. It was found that all levels of education have a positive return not only for the individual, but also for the State Treasury. This is in excess of any non-pecuniary benefits to the State of having a better educated population, or the local taxation effects on the county or city where the campus is located. These returns are found to be higher than other types of investments.
Download or read book Essays in Finance 1st Ser written by Robert Giffen and published by . This book was released on 1886 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays in Finance written by Robert Giffen, Sir and published by Palala Press. This book was released on 2016-05-09 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Download or read book Two Essays in Finance written by Samir Kamat and published by . This book was released on 2003 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays in Finance written by Robert Giffen and published by . This book was released on 1886 with total page 496 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays in Finance First and Second Series 2 written by Robert Giffen and published by Palala Press. This book was released on 2018-03-02 with total page 500 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work. This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Download or read book Two Essays in Finance written by Eunji Oh and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Two Essays in Finance written by Inmoo Lee and published by . This book was released on 1995 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the first essay, "Do Firms Knowingly Sell Overvalued Equity?", I develop a simple equilibrium model which shows that insider trading around seasoned equity offerings (SEO) depends on both the quality of issuing firms and insiders' exogenous consumption shocks, neither of which are known by outside investors in the model. The empirical evidence indicates that insider trading is not reliably related to the future long-term stock returns of issuing firms even though it is reliably related to their announcement period abnormal returns. Issuing firms underperform their benchmarks regardless of the prior insider trading pattern. This suggests that insiders who have purchased shares before issuing do not realize that the market has overcapitalized prior good news, and are not knowingly selling overvalued equity. The second essay, "Deposit Insurance with Changing Volatility: An Application of Exotic Options", develops a model to incorporate the bank managers' incentives to change the bank's volatility into the pricing of deposit insurance. It is assumed that the volatility of the bank's assets changes or can be changed when the assets first hit a certain level. The results show that the shareholders' equity and the deposit insurance premium can be represented as combinations of generalized versions of particular barrier options known as down-and-out and down-and-in options. Numerical examples are used to illustrate the properties of the model.
Download or read book Two Essays in Finance written by David G. Shrider and published by . This book was released on 2003 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Three Essays in Finance written by Haimanot Kassa and published by . This book was released on 2013 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation consists of three loosely related essays. In Essay I, I study the relationship between firm specific risk and return. In Essay II, I study the managerial and investor short-termism. And in Essay III, I study investors heterogeneous preference for skewness and its effect on the idiosyncratic volatility puzzle. Essay I: A spurious positive relation between EGARCH estimates of expected month t idiosyncratic volatility and month t stock returns arises when the month t return is included in estimation of model parameters. We illustrate via simulations that this look-ahead bias is problematic for empirically observed degrees of stock return skewness and typical monthly return time series lengths. Moreover, the empirical idiosyncratic risk-return relation becomes negligible when expected month t idiosyncratic volatility is estimated using returns only up to month t - 1. Essay II: The paper considers a model in which (1) managers allocate effort to both short and long-term projects, and (2) there is feedback between the managerial incentive contract and the number of speculators collecting information on each type of project. More weight placed on near-term price results in more speculation based on information about the short-term project, which induces further increases in the weight placed on near-term price. This feedback effect can result in short-term speculation crowding out the collection of long-term information, which in turn results in the withdrawal of incentives aimed at inducing effort in more profitable long-term projects. The paper shows that the equilibrium that obtains depends upon adjustment costs and initial conditions and is, in general, not efficient. Such outcomes are consistent with concerns about managerial and investor short-termism recently expressed by policy makers and market participants (e.g., the Aspen Institute). The paper considers the efficacy of various corporate and public policy remedies. Essay III: Consistent with models that incorporate investors heterogeneous preference for skewness, I show that (1) high skewness stocks are primarily held by investors with the strongest affinity for lottery-like payoff, (2) the negative skewness-return relation is the strongest for those stocks primarily held by agents with the strongest affinity for lottery-like payoff, (3) the idiosyncratic volatility-return relation is the strongest for those stocks held by agents with the strongest affinity for lottery-like payoff, and (4) investors heterogeneous preference for skewness help explain the idiosyncratic volatility puzzle. Taken together, the results provide evidence for the importance of investors heterogeneous preference for skewness in asset pricing and its implication on the idiosyncratic volatility puzzle.
Download or read book Two Essays in Finance written by Salvatore Lucia and published by . This book was released on 2003 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays in Finance written by Robert Giffen and published by . This book was released on 1886 with total page 474 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays in Finance written by Robert Giffen and published by . This book was released on 1886 with total page 474 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays in Finance written by Robert Giffen and published by . This book was released on 1882 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
