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Choosing Marketing Policy in the Short Run

Sharan Jagpal

in Fusion for Profit: How Marketing and Finance Can Work Together to Create Value

Published in print:
2008
Published Online:
September 2008
ISBN:
9780195371055
eISBN:
9780199870745
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195371055.003.0001
Subject:
Business and Management, Marketing

This chapter introduces key financial tools necessary for understanding Fusion for Profit. This chapter shows how different ownership structures (i.e., whether the firm is publicly or privately held) ... More


Evaluation of Risky Projects

Christian Gollier

in Pricing the Planet's Future: The Economics of Discounting in an Uncertain World

Published in print:
2012
Published Online:
October 2017
ISBN:
9780691148762
eISBN:
9781400845408
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691148762.003.0012
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter provides a short overview of the main concepts, ideas, and tools that have been produced by more than fifty years of research in the evaluation of risky projects and risky assets. It is ... More


Systemic Risk in Global Banking

Roy C. Smith, Ingo Walter, and Gayle Delong

in Global Banking

Published in print:
2012
Published Online:
May 2012
ISBN:
9780195335934
eISBN:
9780199932146
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195335934.003.0014
Subject:
Economics and Finance, Economic Systems

This chapter discusses essential regulatory principles for controlling systemic risk: Systemic financial intermediaries like large and complex financial institutions (LCFIs), which are thought to be ... More


From the Boom in Capital Inflows to Financial Traps

Roberto Frenkel

in Capital Market Liberalization and Development

Published in print:
2008
Published Online:
May 2008
ISBN:
9780199230587
eISBN:
9780191710896
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199230587.003.0004
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter examines the performance of highly indebted countries from the point of view of their links with the international financial market. Although the more analytical parts of the chapter do ... More


Turning Points: Default Risk on Two Sides of the Atlantic

William R. Summerhill

in Inglorious Revolution: Political Institutions, Sovereign Debt, and Financial Underdevelopment in Imperial Brazil

Published in print:
2015
Published Online:
January 2016
ISBN:
9780300139273
eISBN:
9780300218619
Item type:
chapter
Publisher:
Yale University Press
DOI:
10.12987/yale/9780300139273.003.0005
Subject:
Economics and Finance, Economic History

This chapter focuses on the evolution of Brazil's credit risk between 1824 and 1889. It determines changes in the government's creditworthiness by reference to the default premium on Brazilian bonds ... More


Time and the Social Discount Rate

Chris Jones

in Applied Welfare Economics

Published in print:
2005
Published Online:
July 2005
ISBN:
9780199281978
eISBN:
9780191602535
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199281971.003.0008
Subject:
Economics and Finance, Public and Welfare

Many policies impact on inter-temporal consumption choices, with taxes on capital income being the most obvious example. This chapter examines the welfare effects of linear and non-linear personal ... More


Is the Stock Market Safer for Long‐Term Investors?

John Y. Campbell and Luis M. Viceira

in Strategic Asset Allocation: Portfolio Choice for Long-Term Investors

Published in print:
2002
Published Online:
November 2003
ISBN:
9780198296942
eISBN:
9780191596049
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198296940.003.0004
Subject:
Economics and Finance, Financial Economics

Explores optimal investment strategies when both riskless interest rates and risk premia change over time in ways that can be described by a vector autoregressive (VAR) model. In this situation, a ... More


Equities

Andrew Ang

in Asset Management: A Systematic Approach to Factor Investing

Published in print:
2014
Published Online:
August 2014
ISBN:
9780199959327
eISBN:
9780199382323
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199959327.003.0008
Subject:
Economics and Finance, Financial Economics

Equities have historically exhibited high returns relative to bonds and cash (bills). The equity risk premium is a reward for bearing losses during bad times, which are defined by low consumption ... More


Collusion and Decentralization

Jean‐Jacques Laffont

in Incentives and Political Economy

Published in print:
2001
Published Online:
November 2003
ISBN:
9780199248681
eISBN:
9780191596575
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199248680.003.0009
Subject:
Economics and Finance, Microeconomics

This chapter models the optimal degree of delegation and centralization of government as the degree of availability of communication between periphery and centre in a hierarchy. Under bounded ... More


Integrated versus Segmented Capital Markets: Implications for Financial Decision-Making

LUC SOENEN and ROBERT JOHNSON

in International Finance: A Survey

Published in print:
2012
Published Online:
May 2013
ISBN:
9780199754656
eISBN:
9780199979462
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199754656.003.0018
Subject:
Economics and Finance, Financial Economics, International

The market risk premium (MRP) remains one of the most debated issues in corporate finance. The MRP is a critical input when measuring a company’s cost of equity and weighted cost of capital. Thus, a ... More


Factors

Andrew Ang

in Asset Management: A Systematic Approach to Factor Investing

Published in print:
2014
Published Online:
August 2014
ISBN:
9780199959327
eISBN:
9780199382323
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199959327.003.0007
Subject:
Economics and Finance, Financial Economics

Factors drive risk premiums. One set of factors describes fundamental, economy-wide variables like growth, inflation, volatility, productivity, and demographic risk. Another set consists of tradeable ... More


Factor Theory

Andrew Ang

in Asset Management: A Systematic Approach to Factor Investing

Published in print:
2014
Published Online:
August 2014
ISBN:
9780199959327
eISBN:
9780199382323
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199959327.003.0006
Subject:
Economics and Finance, Financial Economics

Assets earn risk premiums because they are exposed to underlying factor risks. The capital asset pricing model (CAPM), the first theory of factor risk, states that assets that crash when the market ... More


Factor Investing

Andrew Ang

in Asset Management: A Systematic Approach to Factor Investing

Published in print:
2014
Published Online:
August 2014
ISBN:
9780199959327
eISBN:
9780199382323
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199959327.003.0014
Subject:
Economics and Finance, Financial Economics

There are many factor strategies—value-growth investing, momentum, and short volatility strategies, to name but a few—that beat the market. To determine which factors that we should choose, factor ... More


The Role of Asset Allocation in the Investment Decision-Making Process

James L. Farrell

in Portfolio Theory and Management

Published in print:
2013
Published Online:
May 2013
ISBN:
9780199829699
eISBN:
9780199979790
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199829699.003.0009
Subject:
Economics and Finance, Financial Economics

This chapter focuses on asset allocation, which is an important aspect in the investment decision-making process. Asset allocation has the potential to add the most to longer-term performance, if ... More


Country Risk

Aswath Damodaran

in Investment Risk Management

Published in print:
2015
Published Online:
January 2015
ISBN:
9780199331963
eISBN:
9780190214098
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199331963.003.0009
Subject:
Economics and Finance, Financial Economics

Do differences in risk exist across countries? If the answer is yes, judgment is needed in determining how best to reflect those risks in investment analysis. This chapter examines the drivers of ... More


Bonds

Andrew Ang

in Asset Management: A Systematic Approach to Factor Investing

Published in print:
2014
Published Online:
August 2014
ISBN:
9780199959327
eISBN:
9780199382323
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199959327.003.0009
Subject:
Economics and Finance, Financial Economics

The level factor, which shifts the yields of all bonds, is the crucial factor in fixed income investments. The level factor is affected by risks associated with economic growth, inflation, and ... More


Long-run stock market returns

Jesper Rangvid

in From Main Street to Wall Street: How the Economy Influences Stock Markets and What Investors Should Know

Published in print:
2021
Published Online:
February 2021
ISBN:
9780198866404
eISBN:
9780191898549
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198866404.003.0003
Subject:
Economics and Finance, Financial Economics

This chapter presents facts and concepts regarding long-run stock market returns. It starts out briefly defining stock returns.The chapter then looks at the historical data, starting with US data and ... More


Risk Neutral Valuation

Gilles Bénéplanc and Jean-Charles Rochet

in Risk Management in Turbulent Times

Published in print:
2011
Published Online:
April 2015
ISBN:
9780199774081
eISBN:
9780190258474
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:osobl/9780199774081.003.0008
Subject:
Business and Management, Finance, Accounting, and Banking

This chapter focuses on risk neutral valuation (RNV), a method for pricing risky securities. RNV is used for the pricing of options and other derivatives, but can also be applied to determining the ... More


Must Original Sin Cause Macroeconomic Damnation?

Luis Felipe Céspedes, Roberto Chang, and AndrCés Velasco (eds)

in Other People's Money: Debt Denomination and Financial Instability in Emerging Market Economies

Published in print:
2005
Published Online:
February 2013
ISBN:
9780226194554
eISBN:
9780226194578
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226194578.003.0003
Subject:
Economics and Finance, International

This chapter develops a simple general equilibrium open-economy model in which real exchange rates play a central role in the adjustment process, wages and prices are sticky in terms of domestic ... More


Asset Owners

Andrew Ang

in Asset Management: A Systematic Approach to Factor Investing

Published in print:
2014
Published Online:
August 2014
ISBN:
9780199959327
eISBN:
9780199382323
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199959327.003.0001
Subject:
Economics and Finance, Financial Economics

Stocks and bonds? Real estate? Hedge funds? Private equity? The conventional way of allocating across asset classes fails to account for the overlapping risks that they represent. Investors must ... More


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