Open Access. Powered by Scholars. Published by Universities.®

Portfolio and Security Analysis Commons™

Open Access. Powered by Scholars. Published by Universities.®

Ursinus College

Discipline
Keyword
Publication Year
Publication
Publication Type
File Type

Articles 31 - 34 of 34

Full-Text Articles in Portfolio and Security Analysis

Evaluating The Target Pipeline In A Pharmaceutical Acquisition, Daniel Vass Jan 2010

Evaluating The Target Pipeline In A Pharmaceutical Acquisition, Daniel Vass

Business and Economics Honors Papers

Many firms in the pharmaceutical industry turn to acquisitions when faced with gaps in their drug development pipelines and patent expirations as an alternative to making long-term investments in internal research and development. Investors are generally negative on this strategy, and upon the announcement of a pharmaceutical acquisition the stock of the acquiring firm often drops. This decline in share price creates an opportunity for the investor who can identify the characteristics of a target firm that increase the probability that the transaction will ultimately be a success, as measured by the subsequent appreciation in the acquirer's stock. It is …


The Impact Of S&P Depository Receipts On The S&P Cash And Futures Market, Andrew J. Economopoulos May 2005

The Impact Of S&P Depository Receipts On The S&P Cash And Futures Market, Andrew J. Economopoulos

Business and Economics Faculty Publications

The introduction of the S&P Depository Receipt (SPDR) in 1993 was a financial innovation that produced several ripple effects in the financial markets. Not only did it allow the small investor to purchase a piece of the S&P 500 Cash Index, it would allow the large investor to utilize the security for arbitrage opportunities with the S&P 500 futures. A theoretical model of arbitrage opportunities utilizing SPDR is developed. The theoretical model provides two outcomes. First, the adoption of the SPDR as an arbitrage tool depends on transaction and liquidity costs and second, the innovation could potentially reduce the traditional …


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. …


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.