Style Drift and Portfolio Management for Active Australian Equity Funds † Andrew B. Ainsworth ∗ Kingsley Fong David R. Gallagher Current Draft: 30 April 2007 Australian School of Business, The University of New South Wales, Sydney, N.S.W. 2052 Abstract Using monthly active equity fund portfolio holdings, we examine the magnitude of style drift and decompose it into active and passive components. We find that while fund style tilts are consistent with their self-stated investment objective
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MODERN PORTFOLIO THEORY A N D INVESTMENT ANALYSIS EIGHTH EDITION INTERNATIONAL STUDENT VERSION EDWIN J. ELTON Leonard N. Stern School of Business New York University MARTIN J. GRUBER Leonard N. Stern School of Business New York University STEPHEN J. BROWN Leonard N. Stern School of Business New York University WILLIAM N. GOETZMANN Yale University WILEY John Wiley & Sons, Inc. Contents About the Authors Preface Part 1 Chapter 1 ix vii INTRODUCTION INTRODUCTION
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Chapter 5 Social responsibility and Managerial Ethics WHAT IS SOCIAL RESPONISBILITY? Two views of social responsibility The classical View * The classical View says that management’s only social responsibility is to maximize profits. * Management’s only social responsibility is to maximize profits (create a financial return) by operating the business in the best interests of the stockholders (owners of the corporation). * Expanding the firm’s resources on doing “social good” unjustifiably
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psychiatric evaluation in a medical prison facility in North Carolina. (NYDailyNews.com) Bayou Management, LLC, which was headquartered in Stamford, CT, is a group of companies and hedge funds founded in 1996 and managed by Samuel Israel, III and co-founder, James G. Marques. They raised funds from investors with the goal of investing in short term trades, but defrauded investors from the start by misappropriating funds for personal use. Investors were initially promised that the fund would grow
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agreement between the City of Boston and AFSCME and the Massachusetts Legislature, Title IV, Chapter 31 creates controlling and overly-bureaucratic policies. These policies outline employee procedures, in particular hiring, disciplining, promoting and evaluation procedures that are outdated and ineffective. Unions protect employees from unfair employment practices, yet some have hurt the overall staff morale and productivity. There is a deep and long standing perception of public employees that
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1. Discuss DFA as Fund and as a company. How does it add value to investors? What are the Pros and Cons of Passive Approach? 1. The DFA Company is a type of broker investment company that invest in Small stock. This focus is on a small niche that fits within the realms of the company. This provide limitations to the company about the type of stock they will invest in. However it provides an academic understanding as to which stock the company should select based on the formulations. The company’s
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ASEAN and its ECONOMIC INTEGRATION 1) Objectives of this paper The objective of this paper is to dissect the concept of the ASEAN integration by looking into the history of the ASEAN, a brief analysis of the past treaties that have been passed and implemented, a scrutiny of the pillars of the ASEAN Economic Community (AEC) and the challenge it poses to all its member nations – including the Philippines. 2) Introduction ASEAN, A brief history Before analyzing the AEC or the treaties
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Module 20 - Strategic Human Resources Management Lecturer: Prof. Carol Hooi Assignment's Topic: Implementing the Bonding of Relationships to Achieve Magnificent Performance at Southwest Airlines Submission date: 11-06-2015 Group: 2 Members: Stanley Agus Sardjono Stevie Faverius Jaya Johan Indra Wiratanto
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Developmental organizations embrace performance management processes that enable employees to become their greatest asset. When managers function as performance coaches, they become trainers, confronters, mentors, and counselors, providing positive feedback and reinforcement to improve skills and competencies that ultimately enhance overall employee performance. Performance management functions as an integral part of a comprehensive development strategy, although too few organizations subscribe to
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to this decision, 7 institutions submitted such letters of intent and SEC gave registration to a total of 19.Investment banking companies in Bangladesh are of two types: open-ended and closed-ended. The open-ended ones, generally referred to as mutual funds, repurchase shares in any quantity as and when holders offer them for sales. Thus, the amount of shares of the open-ended investment companies in market changes continually in response to public demand. Closed-ended investment companies sell only
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