decomposition of the equity premium

... components The first component is due to the difference in endowments of the workers The second one is due to the difference in the coefficients or due to market returns to the endowments The second ... is one of the most important factors in motivating employees Because wage depends on a variety of determinants, the existence of the wage gap is inevitable According to economic theory, the wage ... 2015 Trang 2 MINISTRY OF EDUCATION AND TRAININGUNIVERSITY OF ECONOMICS OF HO CHI MINH CITY - TRẦN THỊ TUẤN ANH QUANTILE REGRESSION DECOMPOSITION OF THE WAGE GAP Trang 3The research is completed

Ngày tải lên: 18/01/2020, 08:23

... The Interpretation of the Equity Premium Puzzle In this section, we will discuss how to explain the equity premium puzzle by the existence of the spirit of capitalism For simplicity, we set the ... examined whether the general equilibrium econ-omy implied the equity premium, and explained the equity premium based on the change of individual income tax rate Rietz [9] introduced the small proba-bility ... to the equity premium Brad Barber, and Odean [13] argued the equity premium puzzle by virtue of the return rate of stocks under the markets with various costs In 2002, Gong and Zou based on the

Ngày tải lên: 01/02/2020, 22:12

... ensures that the contribution of each factor is independent of its order of appearance on the list of the factors or the sequence • Additivity of components. 2.2 Decomposition of the Gini index ... contribution of a given factor or player k? Because the order of the players in the coalition S does not affect the contribution of the player k once he has adhered to the coalition, the number of calculations ... groups formingthe population The analytical decomposition of the average is written as: where φ g is the proportion of the population of group g If we suppose that the elimination of one factor

Ngày tải lên: 04/04/2021, 21:58

... the average growth rate of consumption is another estimate of the expected rate of capital Trang 5standard error of the estimate from the average return (ii) The Sharpe ratio for the equity premium ... half the average return, 9.62% The dividend growth estimate of the equity premium, 2.55%, is 34% of the estimate from returns, 7.43% The 1951-2000 estimates of the expected stock return and the equity ... from the earlier to the later period (iii) Most important, the behavior of other fundamentals favors the dividend and earnings growth models The average ratio of the book value of equity to the

Ngày tải lên: 20/01/2022, 23:47

... Trang 5II The status of the equity market before the COVID-19 crisis a) The US Equity market The equity market in the US is the largest market size in the world since it held around 54.4% of world ... status of the US and the Vietnam equity market before the coronavirus pandemic happens The second part will present the consequences of COVID-19 on the equity market of the US and Vietnam and the recovery ... index of VN had reached the highest peak in the record of 1204.33 points in April III The impact of Coronavirus pandemic and the rebound on the equity market. a) The US equity market.  The

Ngày tải lên: 09/05/2022, 20:33

... Datastream The empirical measures of the other determinants of the Japan premiumare as follows: current government interest rate, the yield on the 3 month Japanese treasury bill; the slope of the yield ... a fraction of the mean level ofthe TIBOR rate for each currency, we find the mean Japan premium on eurodollars was equal to 2.2 percent of the mean dollar TIBOR while the mean Japan premium on ... eurodollars, and the greater relative magnitude of the Japan premium on the euroyen, we have chosen to focus on the Japan premium in the euroyen market II.B Related Research The Japan premium has

Ngày tải lên: 20/10/2022, 09:28

... Trang 5II The status of the equity market before the COVID-19 crisis a) The US Equity market The equity market in the US is the largest market size in the world since it held around 54.4% of world ... status of the US and the Vietnam equity market before the coronavirus pandemic happens The second part will present the consequences of COVID-19 on the equity market of the US and Vietnam and the recovery ... index of VN had reached the highest peak in the record of 1204.33 points in April III The impact of Coronavirus pandemic and the rebound on the equity market. a) The US equity market.  The

Ngày tải lên: 02/12/2022, 18:28

... fruit The paper aims at testing the theoretical model of brand equity and developing a measure for brand equity of Binh Thuan dragon fruit and relationship between components of brand equity The ... perspective: Brand equity is viewed as corporate equity Simon & Sullivan Trang 3which isolates the value of brand equity from that of others This technique divides the value of corporate shares ... possess rather than any others On the other hand, as confirmed by Zeihaml (1988) as a part of brand value, the higher perceived quality, the more likely a brand is chosen instead of other competing

Ngày tải lên: 18/08/2016, 15:48

... called RISK because the investors assume the primary risk of losing their funds if the business fails. •In the 1990’s entrepreneurs began to turn more to equity financing to get their businesses ... often have challenges attracting traditional equity investment. • Start-ups often use the 3 F’s for equity investment. Trang 7Tips for Tapping the Family & Friends for Funds  Consider the ... writing  Treat the money as “bridge” financing  Develop a payment schedule Trang 8Equity or “ Risk” Capital•Equity capital represents the personal investment of the owner(s)…it is often called

Ngày tải lên: 05/02/2018, 15:34

... context of systematic losses, the relevance of the maindeterminants of value (value drivers) to the market value of the equity ofthese companies; (iii) To analyze the suitability of these variables ... that where bvt value of equity at the end of the period t By analogy, bvt−1corresponds to thevalue of equity in the previous period (t− 1); xt the net results for the year t The variables“bvt” ... higherlikelihood offinancial bankruptcy, the variable “equity” is more relevant for theassessment, acting as a proxy of the liquidation value of the company The second explanation states that the phenomenon of

Ngày tải lên: 29/03/2018, 13:57

... equal to the ratio of (a) the sum tax-of the present value tax-of the cost during the period plus the present value tax-of the targeted ending trust fund level, to (b) the present value of the taxable ... equilibrium of PAYG pension systems with the aim of making those systems viable without the repeated intervention of the legislators In other words, they are used to depoliticize the management of the ... not necessarily equal the sums of rounded components. a Th is fi gure is introduced to give the reader some idea of the size of the pension system in relation to the size of the Swedish economy.

Ngày tải lên: 28/08/2019, 08:50

... Figure 2.1: Models of management of social security premium collection in the worldThe above figure simulates the selection of state management agencies on the design of the organizational system of the premium collection of social security with two options of classified collection management (classified according to participants  ... the conditions of public services and are classified as non­pure public services. The role of   the   State   in   the   premium   collection   of   social   security   for   foreign   invested enterprises is to ensure the provision of public services in the market whether they are provided by the State or private enterprises ... ­ Population aging reduces the number of employees participating in social security contributions in the future ­ Different points of view on the effectiveness of the implementation of social security policies of the Government 2.2   Management   of   social   security   premium   collection   for

Ngày tải lên: 08/01/2020, 09:03

... practice of the thesis Theoretical contributions: Firstly, the thesis synthesizes a relatively complete and systematic set of customer equity theories, drivers of customer equity (including brand equity, ... of influence of the brand equity of retail supermarket on the value equity of retail supermarket is moderated by the extraversion of retail supermarket customers Hypothesis H9a: The level of ... influence of the value equity of retail supermarket on the CWB of retail supermarket is moderated by the conscientiousness of retail supermarket customers Hypothesis H7b: The level of influence of the

Ngày tải lên: 08/01/2020, 11:34

... Figure 2.1: Models of management of social security premium collection in the worldThe above figure simulates the selection of state management agencies on the design of the organizational system of the premium collection of social security with two options of classified collection management (classified according to participants  ... the conditions of public services and are classified as non­pure public services. The role of   the   State   in   the   premium   collection   of   social   security   for   foreign   invested enterprises is to ensure the provision of public services in the market whether they are provided by the State or private enterprises ... ­ Population aging reduces the number of employees participating in social security contributions in the future ­ Different points of view on the effectiveness of the implementation of social security policies of the Government 2.2   Management   of   social   security   premium   collection   for

Ngày tải lên: 11/01/2020, 15:31

... retailer) to measure the effect of components of Binh Thuan dagron fruit brand equity on the overall brand equity; and the effect of these components together 1.6 STRUCTURE OF THESIS The research have ... components of Binh Thuan dragon fruit brand equity; (ii) to measure the effect of components of Binh Thuan dragon fruit brand equity to overall brand equity; and the Trang 5effect of components of Binh ... equity (+) The effect of brand equity’s conponents Consumer loyalty to the brand when they have knowledge that brand (Saleem et al, 2015); the characteristics of the brand to be created in their

Ngày tải lên: 16/01/2020, 22:34

... analysis of the impact of existing and proposed regulation on cost of equity capital The analysis sheds lights on the extent to which the cost of equity of banks and the pricing of risk in the Eurozone ... price-to-book ratio depict the general trend in bank equity prices, it is silent about the drivers of their cost of equity capital 3 Literature Review of Bank Cost of Equity The cost of equity capital is ... Estimating the Cost of Equity Capital of the Banking Sector in the Eurozone Maher Asal 1 Abstract The objectives of this paper are, first, to estimate the long-run cost of equity capital for the

Ngày tải lên: 01/02/2020, 21:53

... crisis from 1997 to 2012; the empirical results showed that the BRICS market is independent of each other in the initial stage of the crisis With the spread of the crisis, the correlation among stock ... Yunfan (2010) investigated the co-movement of the major stock markets in the Southeast Asia region before and after the outbreak of the financial crisis with the help of co-integration test, Grange ... introduction of the theoretical model and the empirical data used in this paper In section 3 we show the results of the empirical analysis and related significance The last section is the conclusions 2 Theoretical

Ngày tải lên: 11/07/2020, 03:52

... brand equity and employee-based brand equity and (4) The findings of this research and managerial implications as a meaningful reference for banking industry 1.5 THE STRUCTURE OF THESIS The thesis ... in the view of individual researchers, depend on the context of the study (Dahlsrud, 2008) Researching the relationship between CSR, brand equity and financial performance, this thesis uses the ... their job and is the result of doing what they want and the value of that job (King & Grace, 2010) The employee intention to stay is the future intention of employees to continue their current

Ngày tải lên: 17/07/2020, 01:00

... growth rate of consumption, we get ln E{Re} − ln Rf = ασx , (21) and the equity premium then is the product of the coefficient of relative risk aversion and the variance of the growth rate of consumption ... overview of research over the past 20 years The first chapter explains why the equity premium is a puzzle Chapter two is an extended survey of the risk-based explanations of the equity premium ... increase of more than 125 percent Since 1933 marked the end of the period when the U.S was on the gold standard, this break can be seen as the change in the equity premium after the implementation of...

Ngày tải lên: 22/03/2014, 23:20

... kết thúc năm tài số P/E 25, tỷ suất lợi nhuận 4% ( / 25 =4%) Theo phương pháp dựa thu nhập, lợi nhuận ròng mong đợi trước lạm phát 4% Theo ý tưởng thuộc trực quan nghịch đảo: lý thuyết cho số P/E ... nhuận tái đầu tư 4% Nhiều nhà phân tích không đồng ý quan điểm này, số ủng hộ mô hình thu nhập theo ý kiến “Với số P/E cao công ty sử dụng vốn cổ phần định giá cao để làm tăng dần lợi nhận đầu ... số P/E 25 thu nhập tăng trưởng 4%, P/E tăng lên 30 năm tới, tổng thu nhập thị trường Derivation of Earning – Based Approach bao nhiêu? Công thức Ghi E x ( – R) Bước Với D = EPS x tỷ lệ P : giá...

Ngày tải lên: 20/10/2013, 19:15