The Asset-effect
Author: J. M. Bynner
Publisher: Institute for Public Policy Research
Published: 2001
Total Pages: 48
ISBN-13: 9781860301612
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Hedge Fund Activism
Author: Alon Brav
Publisher: Now Publishers Inc
Published: 2010
Total Pages: 76
ISBN-13: 1601983387
DOWNLOAD EBOOKHedge Fund Activism begins with a brief outline of the research literature and describes datasets on hedge fund activism.
Asset Effect
Author: Will Paxton
Publisher:
Published: 2008-02
Total Pages:
ISBN-13: 9781860302565
DOWNLOAD EBOOKAsset Prices and Monetary Policy
Author: John Y. Campbell
Publisher: University of Chicago Press
Published: 2008-11-15
Total Pages: 444
ISBN-13: 0226092127
DOWNLOAD EBOOKEconomic growth, low inflation, and financial stability are among the most important goals of policy makers, and central banks such as the Federal Reserve are key institutions for achieving these goals. In Asset Prices and Monetary Policy, leading scholars and practitioners probe the interaction of central banks, asset markets, and the general economy to forge a new understanding of the challenges facing policy makers as they manage an increasingly complex economic system. The contributors examine how central bankers determine their policy prescriptions with reference to the fluctuating housing market, the balance of debt and credit, changing beliefs of investors, the level of commodity prices, and other factors. At a time when the public has never been more involved in stocks, retirement funds, and real estate investment, this insightful book will be useful to all those concerned with the current state of the economy.
The Asset Economy
Author: Lisa Adkins
Publisher: John Wiley & Sons
Published: 2020-10-07
Total Pages: 176
ISBN-13: 1509544224
DOWNLOAD EBOOKRising inequality is the defining feature of our age. With the lion’s share of wealth growth going to the top, for a growing percentage of society a middle-class existence is out of reach. What exactly are the economic shifts that have driven the social transformations taking place in Anglo-capitalist societies? In this timely book, Lisa Adkins, Melinda Cooper and Martijn Konings argue that the rise of the asset economy has produced a new logic of inequality. Several decades of property inflation have seen asset ownership overshadow employment as a determinant of class position. Exploring the impact of generational dynamics in this new class landscape, the book advances an original perspective on a range of phenomena that are widely debated but poorly understood – including the growth of wealth inequalities and precarity, the dynamics of urban property inflation, changes in fiscal and monetary policy and the predicament of the “millennial” generation. Despite widespread awareness of the harmful effects of Quantitative Easing and similar asset-supporting measures, we appear to have entered an era of policy “lock-in” that is responsible for a growing disconnect between popular expectations and institutional priorities. The resulting polarization underlies many of the volatile dynamics and rapidly shifting alliances that dominate today’s headlines.
Liquidity and Asset Prices
Author: Yakov Amihud
Publisher: Now Publishers Inc
Published: 2006
Total Pages: 109
ISBN-13: 1933019123
DOWNLOAD EBOOKLiquidity and Asset Prices reviews the literature that studies the relationship between liquidity and asset prices. The authors review the theoretical literature that predicts how liquidity affects a security's required return and discuss the empirical connection between the two. Liquidity and Asset Prices surveys the theory of liquidity-based asset pricing followed by the empirical evidence. The theory section proceeds from basic models with exogenous holding periods to those that incorporate additional elements of risk and endogenous holding periods. The empirical section reviews the evidence on the liquidity premium for stocks, bonds, and other financial assets.
Asset Pricing
Author: Hsien-hsing Liao
Publisher: World Scientific
Published: 2003
Total Pages: 265
ISBN-13: 9812795618
DOWNLOAD EBOOKReal estate finance is a fast-developing area where top quality research is in great demand. In the US, the real estate market is worth about US$4 trillion, and the REITs market about US$200 billion; tens of thousands of real estate professionals are working in this area. The market overseas could be considerably larger, especially in Asia. Given the rapidly growing real estate securities industry, this book fills an important gap in current real estate research and teaching. It is an ideal reference for investment professionals as well as senior MBA and PhD students. Contents: Introduction: Real Estate Analysis in a Dynamic Risk Environment; The Predictability of Returns on Equity REITs and Their Co-Movement with Other Assets; The Predictability of Real Estate Returns and Market Timing; A Time-Varying Risk Analysis of Equity and Real Estate Markets in the US and Japan; Price Reversal, Transaction Costs, and Arbitrage Profits in Real Estate Securities Market; Bank Risk and Real Estate: An Asset Pricing Perspective; Assessing the OC Santa ClausOCO Approach to Asset Allocation: Implications for Commercial Real Estate Investment; The Time-Variation of Risk for Life Insurance Companies; The Return Distributions of Property Shares in Emerging Markets; Conditional Risk Premiums of Asian Real Estate Stocks; Institutional Factors and Real Estate Returns: A Cross-Country Study. Readership: Financial researchers, real estate investors and investment bankers, as well as senior MBA and PhD students."
The Effect of Leverage on Asset Sales Between Financial Institutions
Author: Mr.Sonali Das
Publisher: International Monetary Fund
Published: 2017-09-08
Total Pages: 17
ISBN-13: 1484319052
DOWNLOAD EBOOKThis paper analyzes how the leverage of financial institutions affects their demand for assets and the resulting value of transactions between financial institutions. The results show a positive relationship between buyer capital and the likelihood of buying assets, and between buyer capital and the value of the deal. That is, those institutions that are the least constrained in their ability to raise funding are those that demand assets and pay more for them. This result does not hold, however, for deposit-taking institutions that had access to several government programs designed to improve their liquidity position during the crisis of 2008.
The Liquidity Theory of Asset Prices
Author: Gordon Pepper
Publisher: John Wiley & Sons
Published: 2006-03-30
Total Pages: 190
ISBN-13: 0470032774
DOWNLOAD EBOOKProfessional investors are bombarded on a day to day basis with assertions about the role liquidity is playing and will play in determining prices in the financial markets. Few, if any, of the providers or recipients of such advice can truly claim to understand the well–springs of such liquidity and the transmission mechanisms through which it impacts asset prices. This groundbreaking new book explores the belief that at the core of liquidity there is a force which exerts individuals to effect a financial transaction when they would not otherwise do so. Understanding this force of compulsion is a key to understanding a financial market when it appears to be behaving irrationally. This book will enable new and seasoned investors to develop an understanding of the factors, so that costly mistakes can be avoided without the lesson of experience.
What Explains the Asset Growth Effect in Stock Returns?
Author: Marc L. Lipson
Publisher:
Published: 2009
Total Pages: 46
ISBN-13:
DOWNLOAD EBOOKWe consider the expanding evidence for a negative correlation between firm asset growth and subsequent stock returns with respect to two rational explanations: compensation for risk and costly arbitrage. We observe that the growth rate in total assets is the dominant asset growth rate variable in explaining the cross-section of stock returns. We show that a factor sensitivity to systematic asset growth does not generate a significant risk premium beyond the simple firm growth effect. We find that firm idiosyncratic volatility, which we use as a measure of the cost of holding a position in the stock per unit of time, explains substantial variation in the asset growth effect in the cross section of returns. Furthermore, time series patterns in alphas and factor loadings related to asset growth are associated with high idiosyncratic risk. Our findings highlight the magnitude of the impact of costly arbitrage on stock returns.
