Foreign capital inflows are playing an important role in the U.S. economy by bridging the gap
between domestic supplies of and demand for capital. In 2008, as the financial crisis and global
economic downturn unfolded, foreign investors looked to U.S. Treasury securities as a “safe
haven” investment, while they sharply reduced their net purchases of corporate stocks and bonds.
In 2009, foreign capital inflows continued to drop as private investors sharply retrenched, while
official purchases of U.S. Treasury securities by foreign governments rose sharply.
Tenth in a series of annual reports comparing business regulation in 185 economies, Doing Business 2013 measures regulations affecting 11 areas of everyday business activity: Starting a business Dealing with construction permits Getting electricity Registering property Getting credit Protecting investors Paying taxes Trading across borders Enforcing c
The process of financial reporting, financial statement analysis, and valuation is intended
to help investors and analysts to deeply understand a firm’s profitability and risk and to use
that information to forecast future profitability and risk and ultimately value the firm,
enabling intelligent investment decisions. This process lies at the heart of the role of
accounting, financial reporting, capital markets, investments, portfolio management, and
corporate management in the world economy.
Trading the stock futures markets is more complex than most traders realize.Tranding is a vast pespecitve made up of chart interpretation, entry methods, protective stops, money management, diversification, and psychology. Each of these subjects requires the sevelopment of a perspective.
This section provides information specific to utility green pricing programs, a subset of the
market. The number of utilities offering green pricing has grown steadily in recent years—today,
more than 850 investor-owned, public, and cooperative utilities in most states offer green pricing
programs. Appendix D provides a list of utilities offering green pricing, and Appendix E
provides Web links to all green power product offerings.
Seeking for feedback is vital for learning and putting together a good article. This is one of
the main reasons why it is recommended for researchers to cooperate closely. This
cooperation can mean either writing together, or commenting on the text written by
others. From the perspective of effectiveness, it is important to ask for feedback on small
increments and as frequently as possible. This way the feedback is more precise and easier
to utilise. You should start seeking for comments already at the stage when you only have
an initial idea for an article. This can be done,...
Investors mentioned that better tax treatment for REITs in Malaysia (tax exemption at
both fund and investor levels) will enhance overall return, although the new tax-exemption at
fund level is found to be encouraging.
REIT corporations advised that their properties injected into REITs are carefully
selected, high yielding properties in prime location. This study found that as all REIT
corporations intend to hold 20 – 30% equity in their REITs, it is in their primary interest that
their REITs continue to grow and provide attractive returns.
The development of the LPT market is slower compared to overseas REITs. For
example, while Malaysia launched its first LPT in 1989, REITs in Japan (introduced in 2000)
now amount to 12 listed JREITs with approximately US$11 billion market capitalization
(European Public Real Estate Association, 2004).
The cash ﬂows diagram for the mexican CAT bond is described in Figure 4.
CAT-MEX Ltd. issues the bond that is placed among investors and invests the
proceeds in high quality assets within a collateral account. Simultaneous to the
issuance of the bond, CAT-MEX Ltd. enters into a reinsurance contract with
SRC. The proceeds of the bond will also serve to provide SRC coverage for earth-
quakes in Mexico in connection with an insurance agreement that FONDEN has
entered with the European Finance Reinsurance Co. Ltd., an indirect wholly-
owned subsidiary of SRC.
This publication was prepared by the International Energy Agency’s
Directorate of Sustainable Energy Policy and Technology, under the
leadership of Bo Diczfalusy, and in co-operation with other divisions
of the Agency. Markus Wråke is the project leader of Energy Technology
Perspectives 2012. Antonia Gawel co-ordinated and is lead author of this
report, with drafting and analytical input from a number of IEA colleagues.
Cecilia Tam is lead author of the finance section and Kevin Breen provided
significant data and analytical support. ...
Despite its rapid development, market segmentation has been a distinctive feature of
China's stock market. On the SHSE and SZSE, two types of stocks, A shares and B
shares, are traded. Denominated in RMB, A shares are available exclusively to domestic
investors. From 1991 onwards, Chinese rms have been allowed to issue B shares to
foreign investors. These B shares are denominated in US dollars on the SHSE and in HK
dollars on the SZSE. Prior to February 2001, their trading was restricted exclusively to
overseas investors, including overseas Chinese residing in Hong Kong, Macao and Taiwan....
Legislators/regulators should keep in mind that market making is a substantial part
of the provision of financial products, like bonds (including governmental bonds), exchange traded
funds, or investment certificates. Therefore, it seems reasonable from an economic perspective that
these activities remain linked to the deposit taking activities. Due to their branch networks and other
distribution channels, deposit taking banks are the main distributors of such financial instruments
throughout the European Union.
In the future, the domestic voluntary carbon offset market may be largely superseded by a
mandatory U.S. trading program for greenhouse gas emissions. Even if it is, there may be
grounds for government oversight of the voluntary market today. Oversight may be
desirable, for example, to protect consumers and the public interest, to allow learning for
regulators, and to provide greater certainty for investors.
Raising capital gains taxes will lower the return on some types of assets, and could decrease investment. If investors decrease
stock holdings, and businesses rely on financing from in-state investors, then a state’s economy could grow more slowly. But
a debate on capital gains taxes in the 1980s and 1990s inspired a considerable body of research, which ultimately found that
these taxes have little impact on long-term investment.
The recession was intertwined with a major financial crisis that exacerbated the negative effects
on the economy. Falling stock and house prices led to a large decline in household wealth (net
worth), which plummeted by over $16 trillion or about 24% during 2008 and 2009. In addition,
the financial panic led to an explosion of risk premiums (i.e., compensation to investors for
accepting extra risk over relatively risk-free investments such as U.S.
We provide several new insights about the value of active management and the economic
signiﬁcance of fund return predictability through an analysis of the optimal portfolios of
mutual funds prescribed by our framework at the end of the sample period (December 31,
2002). In particular, consider an investor who completely rules out predictability in fund
returns, as well as active management skills. Not surprisingly, this investor heavily weights
index funds, such as the Vanguard Total Stock Market Index fund.
In recent months, there has been a considerable effort by many political actors to promote fears
over the size of public pension shortfalls. While many, if not most, public pensions do face
shortfalls, much of the discussion has been misleading about both the origins of the shortfall and its
severity. This paper tries to put these issues in a clearer perspective. The first part examines the
origins of the shortfall by noting the extent to which pensions have lost value due to the recent
Long-term Equity Anticipation Securities® (LEAPS®) / long-term stock options
provide the owner the right to purchase or sell shares of a stock at a specified price on
or before a given date up to three years in the future. As with other options, LEAPS®
are available in two types, calls and puts. Like other exchange-traded stock options,
LEAPS® are American-style options.
LEAPS® calls provide an opportunity to benefit from a stock price increase without
making an outright stock purchase for those investors with a longer term view of the
Our main contribution is to study a variable, international soccer results, that has particu-
larly attractive properties as a measure of mood. While extensive psychological evidence, which
we review below, shows that sports in general have a signiﬁcant eﬀect on mood, TV viewing
ﬁgures, media coverage, and merchandise sales suggest that soccer in particular is of “national
interest” in many of the countries we study.
1 It is hard to imagine other regular events that
produce such substantial and correlated mood swings in a large proportion of a country’s pop-