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Published by GRIN Verlag, 2013
ISBN 10: 3656476918ISBN 13: 9783656476917
Seller: Leserstrahl (Preise inkl. MwSt.), Oldenbüttel, Germany
Book
Taschenbuch. Condition: Fine. 1. leichte Gebrauchsspuren / minor wear---. nein.
Published by Grin Verlag, 2013
ISBN 10: 365640285XISBN 13: 9783656402855
Seller: California Books, Miami, FL, U.S.A.
Book
Condition: New.
Published by GRIN Verlag Jul 2013, 2013
ISBN 10: 3656438420ISBN 13: 9783656438427
Seller: BuchWeltWeit Ludwig Meier e.K., Bergisch Gladbach, Germany
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Taschenbuch. Condition: Neu. This item is printed on demand - it takes 3-4 days longer - Neuware -Seminar paper from the year 2012 in the subject Business economics - Investment and Finance, grade: 8.0, Maastricht University (SBE), course: Investment analysis and portfolio management, language: English, abstract: Most of today's portfolios include bonds and equities. This composition enables investors to reduce firm-specific risk and diversify among different asset classes. Important assets that could further enhance diversification are investments in real estate. The risk-reducing effect of real estate partly stems from its local nature. Furthermore, investors, both local and international, face differences concerning the information available with respect to the real estate market and the bond or stock market. The former offers less information to investors than the latter market. Real estate markets are less integrated, which means that there are not many investments made in this market. This can be a further explanation of the positive diversification effects of real estate. Therefore, one could ask whether direct- or indirect real estate investment enhances diversification. The purpose of this report is to investigate whether there is a positive diversification effect of real estate on the risk of a portfolio.The report takes a look at previous findings of researchers concerning the diversification effect of real estate and proceeds with the analysis of the descriptive statistics. Next, the correlation between indirect and direct real estate, bonds and equity is examined followed by. 16 pp. Englisch.
Published by Grin Verlag Gmbh, 2013
ISBN 10: 365647639XISBN 13: 9783656476399
Seller: PBShop.store US, Wood Dale, IL, U.S.A.
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PAP. Condition: New. New Book. Shipped from UK. THIS BOOK IS PRINTED ON DEMAND. Established seller since 2000.
Published by Grin Verlag, 2013
ISBN 10: 3656403023ISBN 13: 9783656403029
Seller: California Books, Miami, FL, U.S.A.
Book
Condition: New.
Published by GRIN Verlag Jul 2013, 2013
ISBN 10: 3656439656ISBN 13: 9783656439653
Seller: BuchWeltWeit Ludwig Meier e.K., Bergisch Gladbach, Germany
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Taschenbuch. Condition: Neu. This item is printed on demand - it takes 3-4 days longer - Neuware -Document from the year 2012 in the subject Business economics - Investment and Finance, grade: 8.0, Maastricht University, course: Investment analysis and portfolio management, language: English, abstract: This paper is based on 'The Common Fund Hedge Fund Portfolio' case from the Harvard Business School (Harvard Business School, 1996). The data provided are taken from it.It aims to support David Storrs, CEO of the Common Fund Company, decision if and how to include a hedge fund into the overall portfolio. The Common Funds has more than $17 billion assets under management for more than 1,000 educational institutions. Storrs considers to establishing a fund of funds, which he can offer his clients as a means of diversification. A hedge fund is an alternative, unregulated investment vehicle that can take long as well as short positions, use high leverage and write options or futures. The central question asks how Storrs should allocate different hedge funds in the funds of funds portfolio, taking into consideration the legal, economic and marketing issues, beside performance and volatility.The first section will touch upon the legal, economic and marketing issues of hedge funds with regard to the decision to take by Storrs. The second section is going to investigate the proposed allocation of assets and reconsiders the asset allocation. Thereby not only quantitative measures are taken into account, but also qualitative factors. Finally, an advice is given on how Storrs should allocate the portfolio with regard to the circumstances of the Common Fund Company. 12 pp. Englisch.
Published by GRIN Verlag Apr 2014, 2014
ISBN 10: 3656643768ISBN 13: 9783656643760
Seller: BuchWeltWeit Ludwig Meier e.K., Bergisch Gladbach, Germany
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Taschenbuch. Condition: Neu. This item is printed on demand - it takes 3-4 days longer - Neuware -Essay from the year 2013 in the subject Business economics - Operations Research, grade: 7.5, Maastricht University, language: English, abstract: Specializing in mining, commodity trading, specialty chemicals and financial services, Metallgesellschaft AG (hereafter MG) was one of largest German Industrial Corporation, with over 20,000 employees and an average revenue of $10 billion annually, who's headquarter was located in Frankfurt. The financial statements presented by the board in December 1993 reported that the U.S subsidiary Metallgesellschaft Refining and Marketing (hereafter MGRM) suffered huge derivative-related losses of over $1bn dollar.Due to the gravity of the losses, it caused a serious threat of bankruptcy to the parent company MG. Many theories try to explain the management failure at MGRM that caused the huge speculative loss. The commonly accepted theory is that the management and board of MG were ill informed about its subsidiaries activities and speculation, making them vulnerable for making irrational decisions, which is represented by their overreaction, in particular to liquidize the outstanding contracts, which MGRM had with their clients. Many critics believe this heavily amplified the risk exposure of MGRM and caused the loss to increase in the long run. However, other empirical studies and economists argue that the liquidation of the contract was the best-case scenario at that time, but that the speculative contracts should have been constructed differently.Whether the board and management team responded properly to the situation or not, both parties tend to agree with the fact that MGRM speculated with a different reason than normally assumed in financial markets. Namely, considering its expertise and global influence in the oil market, the assumption that MGRM used derivatives to exploit arbitrage in the market seems commonly accepted. In other words, MGRM did not hedge to minimize risk, but to maximize profits. This strategy might have played a role in the cause of the losses MGRM made in the following years after the hedging program was initiated.This case will provide an overview of the business idea of MGRM and the hedging strategythat was initiated to mitigate the risk. Furthermore, this case will provide a brief overview of Culp and Miller's opinion about MGRM hedging strategy. Substantiated by this article, this paper will provide an overview of the risks of the hedging strategy initiated by MGRM. Lastly, the management response will be analyzed in more detail after which a short conclusion is provided. 16 pp. Englisch.
Published by GRIN Verlag Aug 2014, 2014
ISBN 10: 3656693501ISBN 13: 9783656693505
Seller: BuchWeltWeit Ludwig Meier e.K., Bergisch Gladbach, Germany
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Taschenbuch. Condition: Neu. This item is printed on demand - it takes 3-4 days longer - Neuware -Document from the year 2013 in the subject Business economics - Investment and Finance, grade: 8, Maastricht University, language: English, abstract: We go back to the year 1997 - the year in which two companies, a base metal company and a electricity company, several development banks and government development organizations, commercial banks and governments itself are in talks about the building of a new aluminum smelter in Mozambique. The project US dollar (USD) volume amounts to a total of $1.4 billion USD.Mozambique is one of the poorest countries in sub-Saharan Africa, which just recently ended their civil war. Additionally, Mozambique has the lowest per capita GDP of $90 USD a year in their peer group, a debt burden resulting from the previous civil war years of 355% of GDP. It ranks 166 out of 174 countries in the United Nations Human Development index.Eskom, a south-African energy company, which supplies 95% of the energy in south-Africa and 50% of the continents power, wanted to establish hydroelectric generators at the Zamibi river and rebuild the worn out electricity network, to supply power at competitive prices. The cooperation of Eskom and Alusaf secured Eskom a buyer for its excess power and Alusaf secured a critical factor of production at competitive prices.Alusaf, an aluminum subsidiary of Glencore, a south-African company operating in the precious metals and base metals industry, and IDC, a governmental owned development bank, are the main sponsors with an equal $125 million USD investment each. (A $125 million USD investment, amounts to 8.92% of the project value and 25% of total equity). The project is supposed to be financed with a 50% debt and 50% equity. Alusaf already built and operated a larger project of the same type, an aluminum smelter with double the volume - the Hillside smelter in Richards Bay with a yearly capacity of 500,000 tons. It accomplished it 21% below budget and 4 months before planned completion. 20 pp. Englisch.
Published by GRIN Verlag Apr 2014, 2014
ISBN 10: 3656643814ISBN 13: 9783656643814
Seller: BuchWeltWeit Ludwig Meier e.K., Bergisch Gladbach, Germany
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Taschenbuch. Condition: Neu. This item is printed on demand - it takes 3-4 days longer - Neuware -Research Paper (postgraduate) from the year 2014 in the subject Business economics - General, grade: 7, Maastricht University, language: English, abstract: Our paper looks at whether there is a difference in perception of utility with respect to our three decision settings- a) individual decision maker (the control group), b) decision maker with two advisors and c) group with three decision makers. To find ways how to de-bias decision-making, we specifically look at expected versus experienced utility between and within these groups. Our results show that there is not only a difference in utility perception with respect to the number and role of people involved with the decision but also that if sunk costs are involved the positive utility (joy) is stronger than negative utility (regret). Supported by significant results from our research we offer solutions to mitigate two of the four causes of the disposition effect discussed by Kahneman and Statman (1985): 1. Regret Aversion and 2. Prospect theory. The group decision part of our experiment shows a significant mitigation of regret aversion. We therefore propose a set of managerial implications. By forcing our participants to invest, we provoke the closing of a mental account rendering the investment a sunk cost for the investor. The resulting gain in utility is then not subject to the effects of prospect theory. 24 pp. Englisch.
Published by GRIN Verlag, 2013
ISBN 10: 3656476705ISBN 13: 9783656476702
Seller: Smartbuy, Einbeck, Germany
Book
Taschenbuch. Condition: Neu. Druck auf Anfrage Neuware - Printed after ordering - Essay from the year 2012 in the subject Business economics - Investment and Finance, grade: 7.5, Maastricht University (SBE), course: investment analysis and portfolio management, language: English, abstract: ECN is the acronym for 'Electronic Communication Network', an electronic system that facilitates the trading of financial products outside the usual stock exchanges. By introducing an ECN, trades can be completed directed without the need of a middleman or third party. Of course, there are fees connected to the usage of an ECN.The ECN connects buyers and sellers, also matches buy and sell orders at specified prices and detects whether there are matches between these two parties (Appendix A). [.] 12 pp. Englisch.
Published by GRIN Verlag Okt 2014, 2014
ISBN 10: 365682231XISBN 13: 9783656822318
Seller: BuchWeltWeit Ludwig Meier e.K., Bergisch Gladbach, Germany
Book Print on Demand
Taschenbuch. Condition: Neu. This item is printed on demand - it takes 3-4 days longer - Neuware -Thesis (M.A.) from the year 2014 in the subject Business economics - Investment and Finance, grade: 7.5, Maastricht University, language: English, abstract: The following study examines the performance of mutual funds investing in small cap companies in the period from 1990 until 2013. Therefore, funds investing in small companies in Germany are tested on their ability to deliver risk-adjusted abnormal returns. The returns are risk-adjusted according to Fama French (1996) three-factor model, Carhart four-factor model and the liquidity adjusted five-factor model of Pastor and Stambaugh (2003). A separate examination of the internet crisis 2000 until 2003 and the financial crisis period 2008 until 2013 is done, to assess the ability of fund managers in isolation to examine their results in situations when their skills are most needed. On average, I conclude that fund managers, investing in the small capitalization segment in Germany, are not able to outperform the market even before fees. 64 pp. Englisch.
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Published by GRIN Verlag, 2013
ISBN 10: 3656476438ISBN 13: 9783656476436
Seller: Buchpark, Trebbin, Germany
Book
Condition: Wie neu. Zustand: Wie neu | Seiten: 16.
Published by Apprimus Verlag Mrz 2017, 2017
ISBN 10: 3863594878ISBN 13: 9783863594879
Seller: BuchWeltWeit Ludwig Meier e.K., Bergisch Gladbach, Germany
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Taschenbuch. Condition: Neu. This item is printed on demand - it takes 3-4 days longer - Neuware -Ressourcenmangel und Preissteigerungen erfordern eine effiziente Nutzung von Ressourcen mit höherer Wertschöpfung bei gleichzeitig geringerem Ressourceneinsatz. Die Ressourcenverbräuche additiver Fertigungsverfahren wurden bisher ausschließlich prozesskettenunabhängig betrachtet. Um die Herstellung von einsatzfähigen Bauteilen mit additiven Fertigungsverfahren ganzheitlich zu bewerten, erfolgt in dieser Arbeit erstmalig eine prozesskettenbezogene Ressourcenbetrachtung. 194 pp. Deutsch.
Published by GRIN Verlag GmbH, 2013
ISBN 10: 3656476403ISBN 13: 9783656476405
Seller: Buchpark, Trebbin, Germany
Book
Condition: Wie neu. Zustand: Wie neu | Seiten: 28.