Corporations are active purchasers of their own stock for their Treasury. This article discusses the cost and par value methods of accounting for Treasury stock, the traditional reasons for repurchases, required disclosures and the increase in EPS associated with repurchases

Most financial professionals recognize that share repurchases, all other things equal, should increase a firm's stock price and earnings per share. Our goal is to provide financial executives, investment analysts, and shareholders with a practical understanding of the accounting and financial...

This article explores three facets of the historical performance of a sample of actively managed unit trusts available to New Zealand investors: asset allocation, style analysis, and return attribution. Because New Zealand does not require unit trusts to disclose their security holdings, we used...

The purpose of this paper is to explain some misunderstood aspects of structuring duration-neutral bond trades. In particular, we demonstrate that the widely held notion that nominal and effective durations for bonds without embedded options are equal is mistaken by a large enough amount to be...

In this article, we demonstrate that standard and effective durations for bonds without embedded options are not equal. The two measures are nearly always different. The difference can be large enough to be of consequence in some applications. Additionally, we show that the only consistent...