Practical Application最新文献_第3页

Practical Applications of ESG Investing: Conceptual Issues ESG投资的实际应用:概念问题

Practical Application Pub Date : 2021-02-24 DOI: 10.3905/pa.8.4.423

Bradford Cornell

引用次数: 0

Practical Applications of Allocation of Wealth Both Within and Across Goals: A Practitioner’s Guide 财富分配在目标内和目标间的实际应用:实践者指南

Practical Application Pub Date : 2021-02-17 DOI: 10.3905/pa.8.4.422

F. Parker

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引用次数: 0

Practical Applications of Psychological Antecedents of Financial Risk Tolerance 金融风险承受心理前因的实际应用

Practical Application Pub Date : 2021-02-03 DOI: 10.3905/pa.8.4.420

H. Thanki, Anushree Karani, Anil Goyal

{"title":"Practical Applications of Psychological Antecedents of Financial Risk Tolerance","authors":"H. Thanki, Anushree Karani, Anil Goyal","doi":"10.3905/pa.8.4.420","DOIUrl":"https://doi.org/10.3905/pa.8.4.420","url":null,"abstract":"In Psychological Antecedents of Financial Risk Tolerance, from the Fall 2020 issue of The Journal of Wealth Management, authors Heena Thanki, Anushree Karani (both of Shri Jairambhi Patel Institute of Business Management and Computer Applications in Gujarat, India), and Anil Kumar Goyal (of Rukmini Devi Institute of Advanced Studies in New Delhi, India) analyze how psychological and behavioral factors influence financial risk tolerance (FRT) among investors. Past research has focused on how investors’ socioeconomic status, demographic characteristics, and personality types influence their FRT. But the authors say such studies may be of limited value since they do not consider financial satisfaction, financial anxiety, self-esteem, sensation-seeking behavior, and obsession with money. The authors surveyed nearly 400 investors to assess the correlations between these factors and FRT. They found that people who are more satisfied with their financial situation tend to have lower FRT. People who have higher self-esteem or engage in sensation-seeking behavior, and those with Type A personalities, tend to have higher FRT. Obsession with money shows only a weak correlation with FRT. The authors conclude that policymakers and financial advisors should consider such psychological and behavioral factors when deciding what risk level is suitable for investors. TOPIC: Wealth management","PeriodicalId":179835,"journal":{"name":"Practical Application","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116829980","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

Practical Applications of Returns to Option Strategies Following Class Action Lawsuits 集体诉讼后期权策略收益的实际应用

Practical Application Pub Date : 2021-01-31 DOI: 10.3905/PA.9.1.433

D. Diavatopoulos, Andy Fodor, Kevin Krieger

引用次数: 0

Practical Applications of Information Leakage in Energy Derivatives around News Announcements 围绕新闻公告的能源衍生品信息泄漏的实际应用

Practical Application Pub Date : 2021-01-31 DOI: 10.3905/PA.9.1.434

Marc J. M. Bohmann, Vinay Patel

{"title":"Practical Applications of Information Leakage in Energy Derivatives around News Announcements","authors":"Marc J. M. Bohmann, Vinay Patel","doi":"10.3905/PA.9.1.434","DOIUrl":"https://doi.org/10.3905/PA.9.1.434","url":null,"abstract":"In Information Leakage in Energy Derivatives around News Announcements, in the Summer 2020 issue of The Journal of Derivatives, authors Marc Bohmann and Vinay Patel (both of the University of Technology Sydney) investigate information leakage in commodity option markets, by taking a close look at abnormal changes in implied volatility spreads and skew that precede price-sensitive news releases. The growth of electronic trading platforms has made it easier to trade commodities, leading to an increase in futures and associated option contracts. These options in turn serve as a venue for information leakage. Focusing on crude oil and natural gas futures, the most highly traded markets on the Chicago Mercantile Exchange (CME), the authors examine the implied volatility (IV) spread and skew. They show an increase in crude oil markets’ IV spread within the five days prior to positive and market-significant news releases, and in their IV skew within the days preceding negative news releases. They also find a statistically significant relationship between these abnormal pre-announcement IV measures and abnormal returns on the date of the official announcement. They report similar results in natural gas markets. These findings are relevant to regulators, investors, and firms in these energy markets, for example, in evaluating whether financial markets work properly. TOPIC: Options","PeriodicalId":179835,"journal":{"name":"Practical Application","volume":"50 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116542927","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

Practical Applications of E, S, or G: Analyzing Global ESG Performance E、S或G的实际应用:分析全球ESG绩效

Practical Application Pub Date : 2021-01-31 DOI: 10.3905/PA.9.1.435

Bush Robert, Jason Chen, Eric Legunn

{"title":"Practical Applications of E, S, or G: Analyzing Global ESG Performance","authors":"Bush Robert, Jason Chen, Eric Legunn","doi":"10.3905/PA.9.1.435","DOIUrl":"https://doi.org/10.3905/PA.9.1.435","url":null,"abstract":"In E, S, or G: Analyzing Global ESG Performance, in the Winter 2020 edition of The Journal of Impact and ESG Investing, Robert Bush, Jason Chen, and Eric Legunn, all of DWS Research Institute, investigate ESG (environmental, social, governance) investing within and across four markets: the United States; Europe, Australasia, and the Far East (EAFE); emerging markets (EMs); and Canada. They apply a three-step framework to assess the risk and return with ESG investing. First, they use linear regressions to quantify any ESG-related excess returns over regional benchmarks. Next, they apply a multifactor model to assess whether any identified alpha comes from value or size premia. Finally, in regions where ESG investing seems to outperform benchmarks, the authors parse the specific pillar’s (i.e., “E,” “S,” or “G”) contribution to that alpha. They find statistically significant ESG-related alpha in EMs and Canada, largely unrelated to size and value factors. They note the pillar-sensitivity of alpha varies across regions: For example, the social pillar is a primary determinant in the United States, EAFE, and Canada. They also observe that the governance pillar, although historically most important to alpha generation in EMs, is declining in significance relative to the social and environmental pillars. TOPICS: ESG investing, portfolio theory, equity portfolio management, behavioral financial, theory, in portfolio management","PeriodicalId":179835,"journal":{"name":"Practical Application","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121996792","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

Practical Applications of Small-Cap Allocations: Timing the Entry 小盘股配置的实际应用:入市时机

Practical Application Pub Date : 2021-01-31 DOI: 10.3905/PA.9.1.432

E. Sorensen, Sebastian Lancetti

引用次数: 0

Practical Applications of How Long Is Long Enough? 多长时间才算够长?

Practical Application Pub Date : 2021-01-31 DOI: 10.3905/PA.8.2.425

G. Buetow, Bernd Hanke

{"title":"Practical Applications of How Long Is Long Enough?","authors":"G. Buetow, Bernd Hanke","doi":"10.3905/PA.8.2.425","DOIUrl":"https://doi.org/10.3905/PA.8.2.425","url":null,"abstract":"In How Long Is Long Enough? from the Fall 2020 issue of The Journal of Retirement, authors Gerald W. Buetow (of BFRC Services) and Bernd Hanke (of Global Systematic Investors) introduce an easy-to-use system to help defined-contribution plan (DCP) fiduciaries decide when to replace underperforming actively managed mutual funds. Many active funds underperform their benchmark indexes, especially net of fees. This raises two questions: How long should fiduciaries wait to replace an underperforming fund, and should they replace it with another active fund or a lower-cost passive fund? Buetow and Hanke examine historical performance data to calculate the differences between two investment strategies: one that keeps all assets in active funds, and another that switches assets from underperforming active funds to passive funds. They find that switching to passive funds after three years of underperformance generates higher long-term returns than leaving assets in active funds, waiting five years to make the switch, or switching only if underperformance is statistically significant (5% or more). Therefore, the authors say, DCP fiduciaries can better serve plan participants by monitoring active funds and replacing underperformers with passive funds in a timely manner. TOPICS: Manager selection, mutual fund performance, passive strategies, retirement, wealth management","PeriodicalId":179835,"journal":{"name":"Practical Application","volume":"92 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126166953","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

Practical Applications of Who Is Better at Investment Decisions: Man or Machine? 谁更擅长投资决策:人还是机器?

Practical Application Pub Date : 2021-01-31 DOI: 10.3905/PA.8.2.427

J. P. Harrison, S. Samaddar

引用次数: 0

Practical Applications of Allocation of Wealth Both Within and Across Goals: A Practitioner’s Guide 财富分配在目标内和目标间的实际应用:实践者指南

Practical Application Pub Date : 2021-01-31 DOI: 10.3905/PA.8.2.422

F. Parker

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引用次数: 0