rise and the stock-picking stocks, as well as distributed investment expert know-how, based on the stock market to react to the flow. However, the management fees are lower than the rate in terms of direct investment. Any investment or equity investment in the most basic strategy is to buy low price, the price to beat would have to bear in mind that when you sell.
Ⅲ)The domestic stock market
stock of a competing company if such an acquisition would "substantially lessen competition."
이 법령은 1914년도에 통과 되었으며 만약 경쟁기업의 주식 취득이 잠재적으로 경쟁을 줄일 때 경쟁기업의 주식 취득을 금지하는 법령이다
60. Clean float : A floating exchange rate system in which there is absolutely no intervention by governments.
정
StockPrice=Call Option+PV of Exercise Price
There the price of a put option can be written as
P=E×e-Rt+C-S
4) Effects of OPM Factors on the Value of a Call and a Put Option
(1) Increasing the stockprice increases call values and decreases put values.
(2) The effect of increasing the standard deviation is positive and pronounced
for both puts and calls
(3) Increasi
Stock
* Recent Market (2009/12/11)
* Share Holder
* Change in StockPrice
- A point : The highest price (2008/4/30)
Cell phone and display industry were riding high, propelled by sales of it, the total sales and operating profit was the highest
- The total sales11trillion 2,180trillion, Operating profit 6,053hundred million
operating pro
Both companies are service companies
-> meaningless to use inventory related ratios
ROE 7.32% x retention ratio 100%
=7.32%
ROE 9.8% x retention ratio 80%
=7.84%
Stockprice is much Lower than past
years but recovering business performance
=>probable potential to increase
Fully recovered stockprice
& worsening performance
=> Very few potential to increase
확률 보행 & Brownian Motion
Ito’s process
dx = a(x,t)dt+b(x,t)dz
Generalized Weiner process
dx = adt+bdz
Brownian motion
ds/s = μdt+σdz
랜덤워크의 시간의 간격이 매우 작다면 이는Brownian Motion에 가깝게 된다.
The StockPrice Assumption
주식의 가격을 S
매우 짧은 시간의 간격을 Dt 라 하자.
주식의 기대수익률
2. Market Integration
1) Definition of stock market integration
Market integration occurs when prices among different location or related goods follow similar patterns in a long period. Group of prices often move proportionally to each other and when this relation is very clear among different markets, it is said that the markets are integrated. Thus, market integration is an indicator tha
Shareholders may prefer that free cash flows be distributed to them as dividends, so they can control how the cash is invested.
Share repurchases during the 1960s and 1970s did increase stockprices, but this effect have nearly disappeared since 1980s. Some companies have spent millions to repurchase their shares, only to see the stockprice drop significantly after the buyback prog
③ Growth measures
On the income statement, revenue, net income, and operating income has increased for the recent three years. In addition, a cash flow from operating activities is positive and investment continued.
④ Market value of stockprice
We think price of stock will be higher because earning per share (EPS) is high as 15.15. Price earning rate (PER) is 20.08 and it is lower th
stock of Apple Inc. Defensive or Cyclical?
What is the type of the stock of Apple Inc.? We acquired some hints from these graphs.
This is a graph for 3 years from February 2008 to November 2010. The 3 lines which are blue, red, and green represent Nasdaq, S&P 500 and Apple Inc. As we can see, Apple Inc moved together with other two types of index even though the stockprice was differen