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Articles 91 - 103 of 103

Full-Text Articles in Portfolio and Security Analysis

The Effects Of Asset Allocation And Active Management On Total Return Of Managed Funds, Florian Halili Jan 2004

The Effects Of Asset Allocation And Active Management On Total Return Of Managed Funds, Florian Halili

Business and Economics Honors Papers

Portfolio managers are charged with maximizing returns for a given level of risk. There are practical problems that arise in creating an efficient portfolio and maintaining a target level of risk and return. This paper will identify two important factors that a manager needs to address in creating and managing a portfolio. The first step in creating a portfolio should be the establishment of the structure of the portfolio or the portfolio policy, what asset classes it holds and in what proportions. The structure of the portfolio is the main factor that shows how a portfolio is exposed to risk. …

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Investor Skepticism V. Investor Confidence: Why The New Research Analyst Reforms Will Harm Investors, John L. Orcutt Jan 2003

Investor Skepticism V. Investor Confidence: Why The New Research Analyst Reforms Will Harm Investors, John L. Orcutt

Law Faculty Scholarship

Part I of this Article provides an overview of research analysts and their basic functions, including a discussion of sell-side analysts' role in the market's recent boom and bust. Part II examines the conflicts of interest that have plagued sell-side research, and Part III reviews the Regulatory Actions that are meant to address these conflicts. In Part IV, the author will make the case for encouraging, rather than lessening, investor skepticism in sell-side research and will explain why the Regulatory Actions are not likely to improve the performance of sell-side analysts. Finally, Part V will offer a simpler proposal to …

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The Search For Stock Market Bubbles: An Examination Of The Nyse Index, Andrew J. Economopoulos, Avinash G. Shetty Apr 2002

The Search For Stock Market Bubbles: An Examination Of The Nyse Index, Andrew J. Economopoulos, Avinash G. Shetty

Business and Economics Faculty Publications

Many have put forth reasons why the stock market has climbed to new and unprecedented heights. Two reasons are examined: (1) investors are expecting prices to increase and are bidding up price irrationally; (2) investors have moved to a long-term strategy and are requiring a lower risk premium. For the latter reason, the rise in stock prices is due to a change in the fundamentals, and for the former reason the rise represents the classical bubble. The evidence indicates that risk preferences have changed while price momentum does not appear during bubble periods.

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Evidence Of Short-Run Persistence In Unit Trusts Performance In Malaysia, Chien Hwa Chong, Puay Eng Kho Jan 2002

Evidence Of Short-Run Persistence In Unit Trusts Performance In Malaysia, Chien Hwa Chong, Puay Eng Kho

Student Works (2000-2009)

The objective of this research is to determine whether there is statistical evidence in performance persistence of Malaysia unit trusts. Tests for performance persistence is also tests for weak form market efficiency of unit trusts in Malaysia. The study is also of practical value since performance persistence indicates that past performance is good prediction of future performance. If there was statistical evidence on performance persistence, then Investors should select the unit trusts to invest based on past performance of the unit trusts. Both parametric and non-parametric statistical tests were carried out to test for performance persistence. Parametric tests employed the …

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A Study Of Benjamin Graham's Stock Selection Criteria In The Kuala Lumpur Stock Exchange, Lee Fah Thong Jan 2002

A Study Of Benjamin Graham's Stock Selection Criteria In The Kuala Lumpur Stock Exchange, Lee Fah Thong

Student Works (2000-2009)

The fundamentalists believe that all securities have an intrinsic value, which can differ from its market price and eventually. the market price of a security will gravitate towards its true value. Graham believed that even though securities market could be overall efficient. any conscientious investor could gain superior returns through pockets of inefficiencies by paying close attention to investment fundamentals and taking advantage of undervaluation and mispricing of individual securities. He also proposed ten selection criteria to identify underpriced securities. The study aims to investigate whether the portfolios formed using Grahams selection criteria could achieve superior performance in the Kuala …

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Off-Shore Borrowing And Guarantees By Banks: Implication For Portfolio Management., C. C. Edordu Dec 2001

Off-Shore Borrowing And Guarantees By Banks: Implication For Portfolio Management., C. C. Edordu

Bullion

The subject I have been asked to reflect on is important and somewhat provocative given the potential significance of foreign capital in the development process and the implied doubt the topic raises about the capacity of banks to manage their portfolios on accessing external finance. With regard to financing tenors, it is pertinent to point out that the tenor of liabilities of most banks in Nigeria and Africa is short. The paper has focused on the various discussions about the conditions for good governance, which raises questions about the structure and functioning of the state, its relationship to society and …

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Holiday Effect : A Decade Of Change In The Performance Of The Kuala Lumpur Stock Exchange, Rina Bee Yan Tong Jan 2001

Holiday Effect : A Decade Of Change In The Performance Of The Kuala Lumpur Stock Exchange, Rina Bee Yan Tong

Student Works (2000-2009)

This empirical research investigates the holiday effect in the Kuala Lumpur Stock Exchange (KLSE) using three daily stock indices: Kuala Lumpur Stock Exchange Composite Index (KLSE Cl), Exchange Main Board All-Share Index (KLSE EMI), and Kuala Lumpur Stock Exchange Second Board Index (KLSE SBI) over the period January 1990 to June 2001. The results show abnormally high pre­holiday returns which predominate only on the single trading day immediately prior to holidays and the pre-holiday fraction of positive return is found significantly higher for all three indices. On the other hand, the post-holiday returns are higher than normal trading days but …

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Macroeconomic Responses To Oil Price Changes And Volatility, Fui Kiun Soong Jan 2001

Macroeconomic Responses To Oil Price Changes And Volatility, Fui Kiun Soong

Student Works (2000-2009)

Petroleum is the third factor of production and is expected to remain so as Malaysia targets to achieve full industrialization in twenty years time. It is therefore, crucial to understand the impact of oil price on the macroeconomy. Thus, this paper attempts to examine the short-run dynamics of industrial production, interest rates and, stock market activity, in relation to oil price changes and oil price volatility by using the vector autoregressive (VAR) model. Volatility is modeled using the Generalised Autoregressive Conditional Heteroskedasticity (GARCH) model. Systematic shocks are introduced and the impacts of anticipated and unanticipated oil price changes are analyzed …

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Day Of The Week Effect In The Kuala Lumpur Stock Exchange, 1994-1998, Santhi Arasan Jan 2000

Day Of The Week Effect In The Kuala Lumpur Stock Exchange, 1994-1998, Santhi Arasan

Student Works (2000-2009)

This paper investigates whether the day of the week effect anomaly exists in the Kuala Lumpur Stock Exchange (KLSE) over a period of time from 1994 to 1998 using the Exchange Main Board All-Share Index or the EMAS Index, which incorporates all Main Board Companies. The analysis of the day of the week effect during the study period is further explored in relation to firm size and economic conditions. In relation to firm size, this paper investigates whether the day of the week effect is persistent for both large and small firms by comparing the daily mean returns of the …

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The Performance Of Bumiputera-Controlled Companies At The Klse, Before And During The Currency Crisis, Nor Azizan Che Embi Jan 2000

The Performance Of Bumiputera-Controlled Companies At The Klse, Before And During The Currency Crisis, Nor Azizan Che Embi

Student Works (2000-2009)

The National Development Policy has successfully achieved their objectives to increase the number of Bumiputera companies that can play an important role in the economy. The number of Bumiputera-controlled companies has increased during the booming period (1995-1996). During this period, many Bumiputera individuals showed their capabilities to handle mega projects in Malaysia. In order to achieve the NDP objectives, many Bumiputera companies stick together and listed in the KLSE. However the Asian countries were hit by currency crisis in the middle of 1997. For almost two and half years, Malaysia experienced a turbulent economy caused by currency crisis. In order …

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Economic Value Added : Superior Measurement Of Shareholders' Value, Amalanathan Thomas Jan 2000

Economic Value Added : Superior Measurement Of Shareholders' Value, Amalanathan Thomas

Student Works (2000-2009)

In 1961, Prof. Franco Modigliani and Prof. Merton H. Miller (MM) said in their article Dividend Policy, Growth and The Evaluation of Shares: "To measure corporate performance for market capitalization, companies should consider earnings, cash flows, dividends and investment opportunities as alternatives". Stern Stewart, an advocate of Economic Value Added (EVA) approach to shareholder value understands the issues raised under the MM model which has led him to the view that "free cash flows is cash from operations that is available, attributable to both leaders and shareholders. In other words, it is the cash that is free for distribution to …

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The Sfa Business Review Vol. 2 No. 2, M. Dudley Stewart, Ralph L. White, John H. Lewis, Danny R. Arnold, John D. Whitt, Patsy Spurrier, Janelle C. Ashley Oct 1976

The Sfa Business Review Vol. 2 No. 2, M. Dudley Stewart, Ralph L. White, John H. Lewis, Danny R. Arnold, John D. Whitt, Patsy Spurrier, Janelle C. Ashley

SFA Business Review, 1975-1978

No abstract provided.

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Security Price Forecasting, Ralph J. Nebbia Aug 1972

Security Price Forecasting, Ralph J. Nebbia

Graduate Thesis Collection

The purpose of this paper is to develop a new and practical technique for improving the art of forecasting security price movements. The desire to forecast stock market fluctuations have led many analysts to employ different predicting tools.

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