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Author: Kewei Hou Publisher: ISBN: Category : Languages : en Pages : 64
Book Description
Many studies report that the size effect in the cross-section of stock returns disappeared after the early 1980s. This paper shows that its disappearance can be attributed to negative shocks to the profitability of small firms and positive shocks to big firms. After adjusting for the price impact of profitability shocks, we find a robust size effect in the cross-section of expected returns after the early 1980s. Our results highlight the importance of in-sample cash-flow shocks in understanding cross-sectional return predictability.
Author: Kewei Hou Publisher: ISBN: Category : Languages : en Pages : 64
Book Description
Many studies report that the size effect in the cross-section of stock returns disappeared after the early 1980s. This paper shows that its disappearance can be attributed to negative shocks to the profitability of small firms and positive shocks to big firms. After adjusting for the price impact of profitability shocks, we find a robust size effect in the cross-section of expected returns after the early 1980s. Our results highlight the importance of in-sample cash-flow shocks in understanding cross-sectional return predictability.
Author: Thomas Andreas Maurer Publisher: CRC Press ISBN: 1040149677 Category : Business & Economics Languages : en Pages : 831
Book Description
The Proceedings of the International Conference on Financial Management and the Digital Economy (ICFMDE 2023) offers an overview of research and insights into how financial management is evolving in the digital age. The book covers a broad spectrum from examining cryptocurrency trends to exploring fintech advancements. Topics also extend to digital transformation strategies, practical applications of blockchain technology, and the profound impact of digital innovations on financial markets. Through rigorous research and analysis, the proceedings offer valuable insights into the future trajectory of the global economy. Written for scholars, researchers, and industry professionals in finance, economics, and digital innovation, this collection provides valuable insights into the rapidly changing field of financial management. Readers will gain deep perspectives on how digitalization is reshaping financial landscapes worldwide.
Author: Bill Jiang Publisher: Springer Nature ISBN: 3030827119 Category : Business & Economics Languages : en Pages : 224
Book Description
This book is a practical and unique investment resource designed to guide investors towards successful investing in the financial markets. It provides a selection of time-tested investment strategies to help investors enhance returns. Factor investing is positioned between active management and passive investing to combine their advantages. The book provides comprehensive coverage of common style factors such as quality and momentum in response to the rising investor interest in factor strategies. It presents a detailed description of the multifactor approach regarding its principle, investment merits and construction methods. The book also covers sustainable investing as it continues to rise in prominence across the investment sector. It employs an abundance of financial data, real cases and practical examples to help the audience understand different investment strategies in an interesting and informative way. The book is primarily written for private investors and investment practitioners such as equity analysts and investment advisors. It is also suitable for university students who are interested in learning practical investment strategies and traditional asset classes.
Author: Roger J. Grabowski Publisher: John Wiley & Sons ISBN: 1119367123 Category : Business & Economics Languages : en Pages : 400
Book Description
Ensure that you're using the most up-to-date data available: Buy the 2017 Valuation Handbook – U.S. Guide to Cost of Capital + Quarterly PDF Updates together! The New Industry Standard in Business Valuation Reference Materials 2017 Valuation Handbook – U.S. Guide to Cost of Capital provides the key annual valuation data previously published in (i) the now discontinued Morningstar/Ibbotson SBBI Valuation Yearbook (discontinued in 2013), and (ii) the Duff & Phelps Risk Premium Report Study (no longer published as a stand-alone publication). The size premia data previously published in the SBBI Valuation Yearbook is referred to as the "CRSP Deciles Size Premia" exhibits in the new 2017 Valuation Handbook – U.S. Guide to Cost of Capital, while the size and risk premia data published in the Duff & Phelps Risk Premium Report Study has been published annually since 1996 and, like the former SBBI Valuation Yearbook, provides data and methodology that can be used to develop cost of equity capital estimates using (i) the build-up method and (ii) the capital asset pricing model (CAPM). The 2017 Valuation Handbook – U.S. Guide to Cost of Capital includes data through December 31, 2016, and is intended to be used for 2017 valuation dates. For more information about Duff & Phelps valuation data resources published by Wiley, please visit www.wiley.com/go/valuationhandbooks. Also Available 2017 Valuation Handbook – U.S. Industry Cost of Capital 2017 Valuation Handbook – International Guide to Cost of Capital 2017 Valuation Handbook – International Industry Cost of Capital Key Features Key cost of capital inputs: The 2017 Valuation Handbook – U.S. Guide to Cost of Capital provides the key inputs needed for developing the cost of equity capital (i.e., "discount rate") for use in estimating the value of a subject business, business ownership interest, security, or intangible asset. Inputs provided include: equity risk premia, size premia, risk premia over the risk free rate, full-information industry betas, industry risk premia, and the risk-free rate. Discussion of topics that come up most when performing valuation analysis: The 2017 Valuation Handbook – U.S. Guide to Cost of Capital includes straightforward discussions about: (i) valuation theory, (ii) the differences between the various cost of capital estimation models (build-up, CAPM, Fama-French), (iii) understanding the basic building blocks of cost of equity capital (the risk-free rate, the equity risk premium, the size premium, beta, the industry risk premium, the company-specific risk premium), (iv) whether to "normalize" risk-free rates or not, (v) a detailed comparison of the CRSP Deciles Size Premia Study (the former SBBI Valuation Yearbook data) and the Risk Premium Report Study, and more. Easy-to-follow examples: The 2017 Valuation Handbook – U.S. Guide to Cost of Capital is packed with easy-to-understand examples for properly using the data to develop levered, unlevered, and even "high-financial-risk" cost of equity capital estimates using various build-up methods and CAPM.
Author: R.ANANDA RAJU Publisher: R.ANANDA RAJU ISBN: Category : Fiction Languages : en Pages : 289
Book Description
I am thrilled to introduce you to “Sou-G 2532: Resurrecting the Future” - a groundbreaking new book that combines elements of science fiction, futuristic technology, and accurate predictions. Unlike other works of science fiction, which often rely on guesswork and conjecture, Sou-G 2532 is based on a well-researched and thoughtful exploration of past and present trends. Drawing on the patterns of 18th, 19th, and 20th century events and contemporary trends, Sou-G 2532 offers a fresh perspective on the future. This book explores the possibilities of time travel, time machines, and other cutting-edge technologies, but it does so in a grounded and realistic way that is sure to keep you engaged from beginning to end. What truly sets Sou-G 2532 apart is its meticulous attention to detail and accuracy. Rather than relying on unfounded predictions, this book provides calculated educational forecasts and predictions that are based on a careful analysis of past and present trends. This makes it a truly unique and exciting addition to the science fiction genre. Whether you're an avid fan of science fiction or a newcomer to the genre, Sou-G 2532 is a must-read. It is available in digital, virtual, and other formats, and is sure to be enjoyed by readers of all ages. So come, join me on this exciting journey of imagination navigation. Who knows, perhaps one day, this book will fall into the hands of my great-grandchildren after the 25th century, and they will be able to marvel at the accuracy of its predictions. But for now, let's enjoy the adventure together.
Author: Zulkefly Abdul Karim Publisher: Springer Nature ISBN: 9819954479 Category : Business & Economics Languages : en Pages : 184
Book Description
This book is a collection of research works by experienced academics focusing on the current issues of fintech and cryptocurrency in the context of Malaysia. The book aims to fill the gap in the extant literature on the topic in Southeast Asia. The book starts with a discussion on the role of monetary policies in the advent of the current trend where cryptocurrencies are being used more widely as a medium of exchange compared to conventional fiat money. It then goes on to provide a comparative analysis for beginners regarding the differences between cryptocurrencies and stocks, considering facets such as ownership, methods of exchange, volatility, regulation, and their interconnectedness. Also discussed are the factors influencing on-line investment options using the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) review method, a comparison of Islamic banking products and conventional fintech. The book ends on an analysis of the impact of the COVID-19 pandemic on the Malaysian stock market. This book is a valuable read for undergraduate students, postgraduate students, academicians, researchers, and professionals working in the economics, finance, and banking industries, particularly in Southeast Asia.
Author: De-Shuang Huang Publisher: Springer Nature ISBN: 9819947618 Category : Computers Languages : en Pages : 823
Book Description
This three-volume set of LNCS 14086, LNCS 14087 and LNCS 14088 constitutes - in conjunction with the double-volume set LNAI 14089-14090- the refereed proceedings of the 19th International Conference on Intelligent Computing, ICIC 2023, held in Zhengzhou, China, in August 2023. The 337 full papers of the three proceedings volumes were carefully reviewed and selected from 828 submissions. This year, the conference concentrated mainly on the theories and methodologies as well as the emerging applications of intelligent computing. Its aim was to unify the picture of contemporary intelligent computing techniques as an integral concept that highlights the trends in advanced computational intelligence and bridges theoretical research with applications. Therefore, the theme for this conference was "Advanced Intelligent Computing Technology and Applications". Papers that focused on this theme were solicited, addressing theories, methodologies, and applications in science and technology.
Author: Keunsoo Kim Publisher: World Scientific ISBN: 9813236779 Category : Business & Economics Languages : en Pages : 293
Book Description
The Korean stock market, ranked 11th in the world in terms of market capitalization of stocks in 2017, is a globalized market. Foreign investors hold close to one-third of stocks listed on the Korea Exchange (KRX) as of May 2017 (in terms of market capitalization). The US and the UK alone account for almost 50% of foreign ownership in the KRX.Research or information on the Korean stock market, however, is not well known to the domestic or the global investment communities. There are minimal investment studies that deal with practical issues from the perspective of investment analysts. This volume bridges the academic and investment communities by providing analyses of the Korean stock market that contain practical values.This book comprehensively analyzes anomalies in the Korean stock market, including time series anomalies such as the January effect, cross-sectional anomalies such as the size effect and book-to-market effect, and anomalies related to corporate events. The authors also investigate sales revenue, profitability, valuation (M/B ratio), and the financial risk of listed companies in the Korean stock market at both the sectoral level and industrial level.As the study uses a comprehensive data set and long-term sample period, readers can benefit from consistent and comparable empirical results.
Author: Shannon P. Pratt Publisher: John Wiley & Sons ISBN: 1118555805 Category : Business & Economics Languages : en Pages : 1344
Book Description
A one-stop shop for background and current thinking on the development and uses of rates of return on capital Completely revised for this highly anticipated fifth edition, Cost of Capital contains expanded materials on estimating the basic building blocks of the cost of equity capital, the risk-free rate, and equity risk premium. There is also discussion of the volatility created by the financial crisis in 2008, the subsequent recession and uncertain recovery, and how those events have fundamentally changed how we need to interpret the inputs to the models we use to develop these estimates. The book includes new case studies providing comprehensive discussion of cost of capital estimates for valuing a business and damages calculations for small and medium-sized businesses, cross-referenced to the chapters covering the theory and data. Addresses equity risk premium and the risk-free rate, including the impact of Federal Reserve actions Explores how to use Morningstar's Ibbotson and Duff Phelps Risk Premium Report data Discusses the global cost of capital estimation, including a new size study of European countries Cost of Capital, Fifth Edition puts an emphasis on practical application. To that end, this updated edition provides readers with exclusive access to a companion website filled with supplementary materials, allowing you to continue to learn in a hands-on fashion long after closing the book.
Author: Kewei Hou
Author: Kewei Hou
Author: David Procházka
Author: Thomas Andreas Maurer
Author: Bill Jiang
Author: Roger J. Grabowski
Author: R.ANANDA RAJU
Author: Zulkefly Abdul Karim
Author: De-Shuang Huang
Author: Keunsoo Kim
Author: Shannon P. Pratt