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Private Equity : Viable Alternative Investment or Empty Promise?
Institute, Brandes - 2015
discussed the pros and cons of private equity and whether the investment class is a viable alternative.While some Board members … of key issues questioning its viability.Ultimately, like any other investment, pros and cons should be weighed according …
Persistent link: https://www.econbiz.de/10013009964
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Responsible Investing : The ESG-Efficient Frontier
Pedersen, Lasse Heje - 2020
We propose a theory in which each stock's environmental, social, and governance (ESG) score plays two roles: 1) providing information about firm fundamentals and 2) affecting investor preferences. The solution to the investor's portfolio problem is characterized by an ESG-efficient frontier,...
Persistent link: https://www.econbiz.de/10012847417
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A Century of Evidence on Trend-Following Investing
Hurst, Brian - 2017
In this article, the authors study the performance of trend-following investing across global markets since 1880, extending the existing evidence by more than 100 years using a novel data set. They find that in each decade since 1880, time series momentum has delivered positive average returns...
Persistent link: https://www.econbiz.de/10012953412
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On the Economic Consequences of Index-Linked Investing
Wurgler, Jeffrey - 2010
distorting corporate investment and financing decisions, investor portfolio allocation decisions, fund manager skill assessments …
Persistent link: https://www.econbiz.de/10013138775
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Equity Investing in the Age of Intangibles
Dugar, Amitabh; Pozharny, Jacob - 2021
Expenditures on creation of intangible capital have increased but accounting standards have not kept pace. We investigate whether this has affected the value relevance of book value and earnings. We construct a composite measure of intangible intensity based on intangible assets capitalized on...
Persistent link: https://www.econbiz.de/10013245424
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Where Investment Performance Comes From
Ferguson, Robert - 2018
The source of investment performance is estimation error.Estimation error leads investors to believe securities are …
Persistent link: https://www.econbiz.de/10012930359
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Investment Returns to Quality in Developed Markets
Ramraika, CFA, Baijnath - 2014
superior investment return predictability. Quality firms as selected by our strategy generate substantially superior returns …
Persistent link: https://www.econbiz.de/10013044470
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Long-Run Investment Management Fee Incentives and Discriminating between Talented and Untalented Managers
Ferguson, Robert - 2016
-neutral analysis of the performance volatility incentives created by investment management fee structures. This paper extends FLa in … six ways. It allows the portfolio's value to change, incorporates expected investment performance, and addresses expenses … and distributions. It also shows the impact of paying investment management performance fees from the portfolio, and …
Persistent link: https://www.econbiz.de/10012998156
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Value Investing : Investing for Grown Ups?
Damodaran, Aswath - 2012
Value investors generally characterize themselves as the grown ups in the investment world, unswayed by perceptions or … of value investors, as a whole, is no better than that of less “sensible” investors who chose other investment …
Persistent link: https://www.econbiz.de/10013107536
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Financial Sophistication and Conflicts of Interest : Evidence from 401(k) Investment Menus
Andonov, Aleksandar - 2019
We analyze the investment menus offered within 401(k) pension plans to the employees of the largest finance and non …-finance firms and of finance firms with an internal trustee. The changes of mutual funds on the investment menu offered by finance …
Persistent link: https://www.econbiz.de/10012859612