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Bankers' Views on Securitisation in South Africa 银行家对南非证券化的看法
The Investment Analysts Journal Pub Date : 1993-12-01 DOI: 10.1080/10293523.1993.11082317
Gail Tensfeldt, C. Firer, M. Bendixen
{"title":"Bankers' Views on Securitisation in South Africa","authors":"Gail Tensfeldt, C. Firer, M. Bendixen","doi":"10.1080/10293523.1993.11082317","DOIUrl":"https://doi.org/10.1080/10293523.1993.11082317","url":null,"abstract":"ABSTRACTAsset securitisation is still in the embryonic stage of its development in South Africa. This paper documents the views of a group of senior bankers regarding the likely future trend of securitisation in South Africa. They are not convinced that the benefits of securitisation currently outweigh the costs, but believe that the phenomenon is likely to gather momentum.The primary advantages of asset securitisation are perceived to be that it provides savings on capital, has the potential to increase the non-interest income earned by banks, can improve returns ratios and will provide diversification benefits to investors.Major concerns expressed are that it is initially a complicated and time consuming process with high transaction costs. The reluctance of investors to accept these new securities is expected to be the most significant obstacle to their growth.","PeriodicalId":126195,"journal":{"name":"The Investment Analysts Journal","volume":"86 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1993-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132164214","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 6
A future-oriented approach to company annual reporting in South Africa: unit trust views 南非公司年度报告面向未来的方法:单位信托观点
The Investment Analysts Journal Pub Date : 1993-12-01 DOI: 10.1080/10293523.1993.11082318
E. Saenger
{"title":"A future-oriented approach to company annual reporting in South Africa: unit trust views","authors":"E. Saenger","doi":"10.1080/10293523.1993.11082318","DOIUrl":"https://doi.org/10.1080/10293523.1993.11082318","url":null,"abstract":"ABSTRACTTo enhance the decision-usefulness value of company annual report information, the boundaries of traditional reporting have been extended to include management projections, predictions or forecasts of information relating to the future of a company. The approach has attracted varying attention in several countries. In South Africa, the subject is relatively new. To contribute to the knowledge on the subject, this article examines the opinions of the managing directors of unit trusts on the need for publishing future-oriented information in company annual reports, the presentation of the information, and the need for public accountant audit of the information.","PeriodicalId":126195,"journal":{"name":"The Investment Analysts Journal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1993-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117349899","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Investment Basics XXVII: The design of a trading system 投资基础第二十七章:交易系统的设计
The Investment Analysts Journal Pub Date : 1993-12-01 DOI: 10.1080/10293523.1993.11082322
D. Joubert, A. F. Mason
{"title":"Investment Basics XXVII: The design of a trading system","authors":"D. Joubert, A. F. Mason","doi":"10.1080/10293523.1993.11082322","DOIUrl":"https://doi.org/10.1080/10293523.1993.11082322","url":null,"abstract":"","PeriodicalId":126195,"journal":{"name":"The Investment Analysts Journal","volume":"115 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1993-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133240530","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 3
Hedging a share portfolio with futures contracts: A linear goal programming approach 用期货合约对冲股票投资组合:线性目标规划方法
The Investment Analysts Journal Pub Date : 1993-12-01 DOI: 10.1080/10293523.1993.11082319
J. Bornman, E. Smit, W. Gevers
{"title":"Hedging a share portfolio with futures contracts: A linear goal programming approach","authors":"J. Bornman, E. Smit, W. Gevers","doi":"10.1080/10293523.1993.11082319","DOIUrl":"https://doi.org/10.1080/10293523.1993.11082319","url":null,"abstract":"ABSTRACTAn investor wishing to hedge his share portfolio with futures contracts wants to ensure that the losses he incurs with his share portfolio during adverse market conditions are adequately covered by the profits he makes with the futures contracts he sells while wishing to minimise the costs involved with his participation in the futures market. These costs consist of transaction costs, cash outflows for margin deposits, and the opportunity cost of the margins deposited at the broker.The traditional hedging methods do not take the above mentioned costs into consideration. A linear goal programming model for South African conditions is developed which optimises the conflicting needs of the investor by updating his position on a weekly basis.","PeriodicalId":126195,"journal":{"name":"The Investment Analysts Journal","volume":"33 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1993-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115280975","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Determinante van die kapitaalstruktuur van genoteerde Suid-Afrikaanse industriele maatskappye : 1970-1990
The Investment Analysts Journal Pub Date : 1993-06-01 DOI: 10.1080/10293523.1993.11082325
A. Jordaan, W. Hamman, E. Smit
{"title":"Determinante van die kapitaalstruktuur van genoteerde Suid-Afrikaanse industriele maatskappye : 1970-1990","authors":"A. Jordaan, W. Hamman, E. Smit","doi":"10.1080/10293523.1993.11082325","DOIUrl":"https://doi.org/10.1080/10293523.1993.11082325","url":null,"abstract":"","PeriodicalId":126195,"journal":{"name":"The Investment Analysts Journal","volume":"50 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1993-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132841371","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
A Two-stage Model for the prediction of corporate failure in South Africa 南非企业破产预测的两阶段模型
The Investment Analysts Journal Pub Date : 1993-06-01 DOI: 10.1080/10293523.1993.11082324
P. Court, S. E. Radioff
{"title":"A Two-stage Model for the prediction of corporate failure in South Africa","authors":"P. Court, S. E. Radioff","doi":"10.1080/10293523.1993.11082324","DOIUrl":"https://doi.org/10.1080/10293523.1993.11082324","url":null,"abstract":"","PeriodicalId":126195,"journal":{"name":"The Investment Analysts Journal","volume":"148 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1993-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116649584","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 8
The P/E Ratio and the Cost of Equity Capital 市盈率和权益资本成本
The Investment Analysts Journal Pub Date : 1993-06-01 DOI: 10.1080/10293523.1993.11082327
C. Firer
{"title":"The P/E Ratio and the Cost of Equity Capital","authors":"C. Firer","doi":"10.1080/10293523.1993.11082327","DOIUrl":"https://doi.org/10.1080/10293523.1993.11082327","url":null,"abstract":"(1993). The P/E Ratio and the Cost of Equity Capital. Investment Analysts Journal: Vol. 22, No. 38, pp. 43-47.","PeriodicalId":126195,"journal":{"name":"The Investment Analysts Journal","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1993-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121880647","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 12
Cash flow ratios—Investment Basics XXVIII 现金流量比率-投资基础XXVIII
The Investment Analysts Journal Pub Date : 1993-06-01 DOI: 10.1080/10293523.1993.11082328
W. Hamman
{"title":"Cash flow ratios—Investment Basics XXVIII","authors":"W. Hamman","doi":"10.1080/10293523.1993.11082328","DOIUrl":"https://doi.org/10.1080/10293523.1993.11082328","url":null,"abstract":"(1993). Cash flow ratios—Investment Basics XXVIII. Investment Analysts Journal: Vol. 22, No. 38, pp. 49-53.","PeriodicalId":126195,"journal":{"name":"The Investment Analysts Journal","volume":"34 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1993-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129269917","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 4
An Analysis of the Price/Earnings Ratio of the Industrial Sector of the JSE 日本证券交易所工业板块的市盈率分析
The Investment Analysts Journal Pub Date : 1993-06-01 DOI: 10.1080/10293523.1993.11082326
M. Ward, J. Stathoulis
{"title":"An Analysis of the Price/Earnings Ratio of the Industrial Sector of the JSE","authors":"M. Ward, J. Stathoulis","doi":"10.1080/10293523.1993.11082326","DOIUrl":"https://doi.org/10.1080/10293523.1993.11082326","url":null,"abstract":"","PeriodicalId":126195,"journal":{"name":"The Investment Analysts Journal","volume":"45 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1993-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127530722","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 7
The Impact of the Efficiency of the South African Share Index Futures Market on Hedging Effectiveness and Optimal Exposure Management over the Period 1987 to 1989 1987 - 1989年南非股指期货市场效率对套期保值效果和最优风险敞口管理的影响
The Investment Analysts Journal Pub Date : 1992-12-01 DOI: 10.1080/10293523.1992.11082306
A. Snell, E. Smit
{"title":"The Impact of the Efficiency of the South African Share Index Futures Market on Hedging Effectiveness and Optimal Exposure Management over the Period 1987 to 1989","authors":"A. Snell, E. Smit","doi":"10.1080/10293523.1992.11082306","DOIUrl":"https://doi.org/10.1080/10293523.1992.11082306","url":null,"abstract":"ABSTRACTAn empirical investigation was undertaken to assess the impact of futures market efficiency on hedging effectiveness and optimal exposure management in the South African SIF market for the period June 1987 to December 1989. It was found that hedge performance in the market has remained on the same levels over the period. Results further suggest that optimal (risk-minimising) hedges are significantly affected by contract mispricings albeit in a manner not consistent enough to formulate general conclusions.","PeriodicalId":126195,"journal":{"name":"The Investment Analysts Journal","volume":"51 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1992-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125083005","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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