Catalogue Search | MBRL
Are you sure you want to remove the book from the shelf?
{{itemTitle}}
958,811
result(s) for
"FLOW OF INVESTMENTS"
Sort by:
Winning at active management : the essential roles of culture, philosophy, and technology
\"Winning at Active Management conducts an in-depth examination of crucial issues facing the investment management industry, and will be a valuable resource for asset managers, institutional consultants, managers of pension and endowment funds, and advisers to individual investors. Bill Priest, Steve Bleiberg and Mike Welhoelter all experienced investment professionals, consider the challenges of managing portfolios through complex markets, as well as managing the cultural and technological complexities of the investment business. The book’s initial section highlights the importance of culture within an investment firm – the characteristics of strong cultures, the imperatives of communication and support, and suggestions for leading firms through times of both adversity and prosperity. It continues with a thorough discussion of active portfolio management for equities. The ongoing debate over active versus passive management is reviewed in detail, drawing on both financial theory and real-world investing results. The book also contrasts traditional methods of portfolio management, based on accounting metrics and price-earnings ratios, with Epoch Investment Partners’ philosophy of investing on free cash flow and appropriate capital allocation. Winning at Active Management closes with an inquiry into the crucial and growing role of technology in investing. The authors assert that the most effective portfolio strategies result from neither pure fundamental nor quantitative methods, but instead from thoughtful combinations of analyst and portfolio manager experience and skill with the speed and breadth of quantitative analysis. The authors illustrate the point with an example of an innovative Epoch equity strategy based on economic logic and judgment, but enabled by information technology. Winning at Active Management also offers important insights into selecting active managers – the market cycle factors that have held back many managers’ performance in recent years, and the difficulty of identifying those firms that truly possess investment skill. Drawing on behavioral economic theory and empirical research, the book makes a convincing case that many active investment managers can and do generate returns superior to those of the broad market\"-- Provided by publisher.
Book
Investing with confidence : understanding political risk management in the 21st century
'Investing with Confidence: Understanding Political Risk Management in the 21st Century' is the latest book in a series based on the MIGA–Georgetown University Symposium on International Political Risk Management. The most recent symposium brought together almost 200 senior practitioners from the political risk insurance (PRI) industry, including investors, insurers, brokers, lenders, academics, and members of the legal community. This volume addresses the key issues relevant for investors today, including arbitration, understanding and pricing for risk, and new developments in investments through timely assessments from 15 experts in the fields of international investment, finance, insurance, law, and academia. Contributors to this volume examine key political risk issues including claims and arbitration, perspectives on pricing from private, public and multilateral providers, and explore new frontiers in sovereign wealth funds and Islamic finance. The volume begins with a look back to the founding of International Center for the Settlement of Investment Disputes (ICSID) and MIGA and the respective visions for both of these important institutions. It continues with a review of new developments in global finance and risk management, including Islamic finance and sovereign wealth funds, and provides an investor perspective of what drives the decision making process on procuring political risk insurance. The volume then turns to consider methodologies of pricing from the private, public, and multilateral perspectives, and examines the expropriation and the pledge of shares. This section focuses on key legal questions such as understanding expropriation and the outcome of arbitration hearings, the latter being particularly relevant given the number of cases currently before arbitral panels. The volume concludes with an overview of the key thoughts raised by the authors and the implications for investors going forward. 'Investing with Confidence' offers valuable insights for practitioners and investors alike and is particularly relevant in today's uncertain markets.
eBook
The World Bank Group guarantee instruments 1990-2007 : an independent evaluation
Foreign direct investment and private capital flows are highly concentrated geographically, with almost half of them reaching five top destinations. These flows tend to evade many high-risk countries. Regulatory and contractual risks, particularly in infrastructure, have inhibited investments in many parts of the developing world. A core objective of the World Bank Group (WBG) has been to support the flow of private investment for development; guarantees and insurance have been among the instruments that the WBG has used to pursue this objective. This study examines three main questions: • Should the WBG be in the guarantee business? • Have guarantee instruments in the three WBG institutions been used to their potential as reflected in WBG expectations and perceived demand? • Is the WBG appropriately organized to deliver its range of guarantee products in an effective and efficient manner?
eBook
A financing facility for low-carbon development
The reality of climate change associated with anthropogenic emissions is now widely acknowledged by the scientific community. Its potential devastating future harms are equally well perceived and as stated in the Copenhagen Accord major nations agree on the need to jointly and urgently combat climate change. The international community is also quite aware that stabilizing atmospheric concentrations of green-house gases (GHG) at supportable levels will require a drastic reduction in GHG emissions within a limited period of time. Undertaking such an enormous effort triggers several interlinked challenges: (1) technically mitigating GHG emissions to the required level; (2) implementing these solutions in countries where the required amount of emission reduction is most realistically and efficiently achievable in particular through involving and using in full the large potential of developing countries; and (3) mobilizing the large amount of financing needed to ensure that the corresponding projects and programs can be effectively implemented. Furthermore, these challenges must be simultaneously addressed in a way that is acceptable to all the parties involved. This means in particulars that any arrangement designed to meet the global GHG emission reduction challenge must be consistent with the principle of the common but differentiated responsibilities of developed and developing countries.
eBook
World Investment and Political Risk 2010
Political risk remains the top preoccupation for foreign investors operating in developing countries over the next three years, in spite of persistent concerns over the global downturn in the short term. The global economic recession triggered by the financial crisis that has unfolded over the past two years has not spared the developing world. Yet, the fragile and modest recovery now under way is being led by developing countries, which are expected to remain attractive destinations for Foreign Direct Investment (FDI). In light of overt political risk perceptions, the revival of FDI to these destinations calls for continued risk mitigation, including Political Risk Insurance (PRI). In the short term, concerns over the fallout from the financial crisis appear to dominate investors' preoccupations. Yet, FDI projections and surveys conducted for this report suggest that investors are cautiously optimistic about prospects for a global economic recovery led by the developing world. As a result, FDI to developing countries is expected to recover over the medium term. Investors from the primary industries, as well as those based in developing countries, appear particularly bullish in their investment intentions. As concerns over the health of the global economy recede, political risk considerations will return to pre-eminence for investors from both developed and developing countries.
eBook
Managerial Overconfidence, Self-Attribution Bias, and Downwardly Sticky Investment: Evidence from Korea
The extant literature on behavioral corporate finance has explored the effects of overconfidence on investment-cash flow sensitivity (ICS) to explain overinvestment, yet it has overlooked the asymmetric behavior of investments in relation to changes in cash flow levels. This study examines whether investments behave asymmetrically responding to changes in cash flows and, if so, how managerial overconfidence affects asymmetric ICS. Using a sample of KOSPI and KOSDAQ firms in Korea, we find the incidence of downwardly sticky ICS in unconstrained firms. We then find that overconfident managers encourage ICS to be stickier than their rational peers do in unconstrained firms. Finally, we find that managerial overconfidence intensified by self-attribution bias induces ICS to get even stickier, suggesting more explicit evidence of corporate investment distortions. The results of alternative tests using the asymmetric models of Homburg and Nasev (2008) are qualitatively consistent with prior results. Overall, our findings imply a higher incidence of excessive investment commitments driven by overconfident managers.
Journal Article
Verifying the Role of Dividends as a Mediator in the Impact of Cash Flows on Bank Stock Returns on the Iraq Stock Exchange: An Empirical Analysis
This study aims to evaluate how the effect of COVID-19 and cash flows from operating, investing, and financing activities influence stock returns, with dividends acting as a mediator. Data were gathered from the quarterly financial reports of 20 banks listed on the Iraq Stock Exchange between 1 January 2015 and 31 December 2020. Panel data were analysed using ordinary least squares (OLS). Findings revealed that cash flows have a positive impact on stock returns. Additionally, cash flows from operating and investing activities enhanced dividends, while those from financing activities negatively affected them. Although relatively small, both effects were statistically significant at the 5% level. The analysis also showed that cash flows and dividends account for 51% of the variance in stock returns, indicating a positive yet minor relationship. The results demonstrated a weakly significant negative effect of COVID-19 on both the direct relationship between cash flows and stock returns and the direct relationship between dividends and stock returns. Cash flows and dividends positively influenced stock returns during the initial five years; however, the COVID-19 pandemic in 2020 inversely affected this relationship by 4%, which is a relatively minor impact. Consequently, this research suggests that banks should improve their cash flows by increasing deposits and investing cash reserves to boost profits and, in turn, increase stock returns. Moreover, dividend distributions should play a crucial role in investment strategies, as they attract investors, raise stock demand, and help stabilise the Iraq Stock Exchange.
Journal Article
Is the Relocation of Polluting Industries Prompted by FDI Flow and Stock, Globalisation, Corruption and Regulation?
Can globalisation and foreign direct investment shape sustainable development? Foreign direct investment is one of the main drivers for the transfer of polluting industries. With this in mind, the main objective of this research is to identify the role played by foreign direct investment (flow and stock), globalisation (de jure and de facto), corruption and regulatory quality in environmental degradation and sustainable development. To accomplish this objective, and to link the relationships under analysis to the level of development, a comparison between a group of developing countries and a group of developed ones was performed. The results confirm the suitability of the division of the countries by revealing various effects. This analysis was conducted from 1996 to 2017 and by recurring to the Autoregressive Distributed Lag model. This study proves that foreign investors play a vital role in reaching sustainable development. Measures must be implemented to eliminate the distortions that cause a company based in a country with strict environmental regulations to relocate its production to one with lax environmental regulations. However, these measures need to be combined with complementary measures that encourage developing economies to agree to a possible slowdown in their economic growth if sufficiently compensated for this reduced growth.
Journal Article
Blockchain and fintech technologies in the digital space of financial and industrial companies
The relevance of the article lies in examining the functional relationship between blockchain and fintech technologies in the innovative digital space of financial and industrial companies. The research aims to investigate the directions for the development of large integrated systems of financial and industrial capital, based on the principles of intensive production. The research methodology included the following methods: analytical (literature review, quantitative analysis), methods of comparison, generalization, and systematization. In particular, quantitative analysis was applied to calculate the index of digital cyber protection, which serves as an indicator and summarizes the safe properties of information resources in the digital space of banking institutions and their ability to prevent cyber-attacks on the financial and industrial capital of subjects in united spheres of economic activity. The results of the research have shown that the optimal criteria for the index of digital cyber protection are financially linked to industrial capital. The article substantiates the macroprudential policy of Ukraine’s banking sector based on blockchain regulators and fintech technologies from the EU, which foster the intensive development of technological competitiveness among financial institutions. The article can be useful for financial and industrial executives, banking institutions, consulting firms, and educators seeking insights into the integration of blockchain and fintech technologies.
Journal Article