This white paper definitively proves that no Formulaic Asset Allocation (FAA) approach (Lifecycle, Target Date, Target Risk, Balanced Funds, Managed Accounts and Monte Carlo Simulation) can provide Plan Participants with nearly enough money for retirement income security, and that FAA exposes...

Finance journal quality is a critical issue for faculty annual evaluations, for the tenure and promotion process, and for the administration of faculty workload plans. Unlike other studies that use objective measures(such as citation frequencies) to rate journals, this study focuses on the...

The purpose of this study is to determine what firm-specific factors affect the risk of insurance companies. Traditional methods used to identify potential failures have been severely criticized. Thus, alternative approaches to risk assessment should be of interst to investors and managers of...

This article discusses the Samp;L crisis. Proposed solutions are discussed in the context of the industry as it currently stands. With a somewhat similar liability structure to that of banks (mainly short-term deposits), the asset structure of Samp;Ls is quite different. Whereas banks assets...

This study is designed to examine the effect of the CRA on the financial performance of 60 banks. For this sample of banks, performance measures such as return on assets (ROA), return on equity (ROE), salary expense ratios improve significantly in the five year period after the passage of the...

English Abstract: 투자자예탁금(舊 고객예탁금)은 금융투자상품의 매매 및 관련 거래를 위해 투자자들이 투자매매업자 혹은 투자중개업자(舊 증권회사, 선물회사)에게 예치한 현금이다. 투자자예탁금은 정보 비대칭성으로 인한...

We analyze the external funding of academic finance research. We show that funding is uncommon, particularly for U.S.-based faculty, and is related to predictable attributes of an author's reputational capital. Further, when research is funded we find it is associated with better articles, as...

We investigate whether hedge funds arbitrage market anomalies. We examine a seven-factor model including traditional Fama and French (1993) and Carhart (1997) factors and factors associated with the anomalies of earnings momentum, equity financing, and asset growth rates. We find the average...

The Basel III framework represents the response to the regulation deficits of the financial cri-sis and the immense losses of many banks in years 2007/2008. The aim of the framework is to increase the level of capital in financial institutions and to improve the loss absorption and risk coverage...

The development of marketing theory in combination with the new business realities necessitates a serious rethinking of the approach used towards customers. Taking into consideration the extremely uncertain and volatile market conditions, the increased requirements of corporate customers and the...