发布求助
文献互助 智能选刊 最新文献

Journal of Wealth Management最新文献

筛选
英文 中文
Financial Inclusion in the BRICS—Evidence from the World Bank’s Latest Findex Survey 金砖国家的金融包容性——来自世界银行最新Findex调查的证据
Journal of Wealth Management Pub Date : 2022-03-31 DOI: 10.3905/jwm.2022.1.169
Farid Ahmed, A. B. Dar, Roopali Sharma
{"title":"Financial Inclusion in the BRICS—Evidence from the World Bank’s Latest Findex Survey","authors":"Farid Ahmed, A. B. Dar, Roopali Sharma","doi":"10.3905/jwm.2022.1.169","DOIUrl":"https://doi.org/10.3905/jwm.2022.1.169","url":null,"abstract":"The main purpose of this article is to understand the determinants of financial inclusion and the determinates of saving and borrowing behavior in the BRICS. This article uses the data from the World Bank Global Findex. As the dependent variables are binary, the Probit model is used to estimate the model. We find that account ownership has increased significantly, but the use of accounts for formal savings and formal borrowing has not picked up in the BRICS. It is also found that being male, wealthy, more educated, and older is associated with greater financial inclusion. Regarding loan-taking motivation, we find poor people tend to borrow mostly for medical purposes and rich for purchasing land and doing business. These results have important implications for financial inclusion policies in the BRICS. The BRICS economies should generally focus on education-promoting policies to enhance financial inclusion. In addition, the government and the central banks should allocate funds and pay attention to the rural areas and female population to promote financial inclusion.","PeriodicalId":39998,"journal":{"name":"Journal of Wealth Management","volume":"25 1","pages":"105 - 121"},"PeriodicalIF":0.0,"publicationDate":"2022-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45726976","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: 1
A Move in the Right Direction: Client Relationships in Financial Advice 向正确方向迈进:金融咨询中的客户关系
Journal of Wealth Management Pub Date : 2022-03-24 DOI: 10.3905/jwm.2022.1.167
K. Hunt, Mark A. Brimble, B. Freudenberg
{"title":"A Move in the Right Direction: Client Relationships in Financial Advice","authors":"K. Hunt, Mark A. Brimble, B. Freudenberg","doi":"10.3905/jwm.2022.1.167","DOIUrl":"https://doi.org/10.3905/jwm.2022.1.167","url":null,"abstract":"The Australian financial advice industry continues to be the subject of ongoing regulatory reform largely driven by persistent failures of advice and products. Despite these concerns, many Australian consumers continue to have productive, effective, and high-quality relationships with their financial adviser. This article seeks to understand the determinants of quality in these relationships both contemporaneously and how this has changed over time. Deploying a research instrument used in a study in 2009, we compare and contrast the views of practitioners and clients both with updated data and over time. We find once again that systematic differences in the perceptions of professional-client relationship quality exist. We find that these perceptions have changed over time, with high-wealth clients’ perceptions differing from those of other clients, just as the perceptions of more highly educated financial advisers differ from those of advisers with less education. Overall, relationship quality has increased over a number of dimensions.","PeriodicalId":39998,"journal":{"name":"Journal of Wealth Management","volume":"25 1","pages":"50 - 81"},"PeriodicalIF":0.0,"publicationDate":"2022-03-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47305337","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: 1
Impact Measurement Considerations for Private Market Investors 私人市场投资者的影响衡量考虑因素
Journal of Wealth Management Pub Date : 2022-03-16 DOI: 10.3905/jwm.2022.1.166
Kenneth B. Trippe, Essma Bengabsia
{"title":"Impact Measurement Considerations for Private Market Investors","authors":"Kenneth B. Trippe, Essma Bengabsia","doi":"10.3905/jwm.2022.1.166","DOIUrl":"https://doi.org/10.3905/jwm.2022.1.166","url":null,"abstract":"Sustainable and impact investment assets within private markets have risen significantly over the past two decades, with private investment dollars that seek to create environmental or social impact increasing over twentyfold from 2000 to 2020 (Pitchbook 2021). Yet impact measurement and management remain key challenges for investors and asset owners. In this article, the authors analyze existing approaches to impact measurement and introduce a methodology for calculating and aggregating impact metrics across a private portfolio. This methodology, built based on a mix of leading impact measurement frameworks and insights from expert consultants, provides investors and asset owners with guidance on how to capture, aggregate, and report on impact metrics across an entire portfolio.","PeriodicalId":39998,"journal":{"name":"Journal of Wealth Management","volume":"25 1","pages":"21 - 29"},"PeriodicalIF":0.0,"publicationDate":"2022-03-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44488359","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
Exploring the Linkages between Financial Literacy, Behavioral Biases, and Stock Market Decisions 探讨金融素养、行为偏见和股市决策之间的联系
Journal of Wealth Management Pub Date : 2022-03-12 DOI: 10.3905/jwm.2022.1.164
H. Thanki, Sweety Shah, Anushree Karani
{"title":"Exploring the Linkages between Financial Literacy, Behavioral Biases, and Stock Market Decisions","authors":"H. Thanki, Sweety Shah, Anushree Karani","doi":"10.3905/jwm.2022.1.164","DOIUrl":"https://doi.org/10.3905/jwm.2022.1.164","url":null,"abstract":"The aim of this article is to find out the linkages between financial literacy, behavioral biases, and stock market investment decisions. Further, the primary objective is divided into two parts; first, the relationship between financial literacy and behavioral biases, namely cognitive biases (representative bias, hindsight bias, mental accounting bias, and anchoring bias) and emotional biases (overconfidence, disposition, herding, and familiarity bias) was investigated. Second, the relationship between above stated behavioral biases and stock market investment decisions were explored. To satisfy the objectives of the study, a descriptive cross-sectional research design with judgmental sampling was followed. The data were collected from 477 Indian stock market investors. We found that financial literacy significantly negatively influences all the cognitive biases whereas it does not influence emotional biases. All the cognitive and emotional biases significantly impact the stock market investment decisions. Additionally, it was noticed financial literacy significantly reduces hindsight bias whereas overconfidence bias highly influences the stock market investment decisions.","PeriodicalId":39998,"journal":{"name":"Journal of Wealth Management","volume":"25 1","pages":"82 - 104"},"PeriodicalIF":0.0,"publicationDate":"2022-03-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42562088","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
Taxes, Charity, and Hedge Funds: Tax Implications of Charitable Contributions of Leveraged Partnership Interests 税收、慈善和对冲基金:杠杆合伙利益的慈善捐款的税收含义
Journal of Wealth Management Pub Date : 2022-03-12 DOI: 10.3905/jwm.2022.1.165
Nathan Sosner, Roxana Steblea-Lora
{"title":"Taxes, Charity, and Hedge Funds: Tax Implications of Charitable Contributions of Leveraged Partnership Interests","authors":"Nathan Sosner, Roxana Steblea-Lora","doi":"10.3905/jwm.2022.1.165","DOIUrl":"https://doi.org/10.3905/jwm.2022.1.165","url":null,"abstract":"As a result of recent Treasury regulations, investment partnerships, such as hedge funds, might be required to allocate nonrecourse liabilities to their limited partners (LPs). This allocation of nonrecourse liabilities could result in recognition of capital gains by LPs when they contribute their partnership interests to a charity. We explain how such taxable gains upon charitable contributions arise and quantify how punitive they might be. Although investors in tax-efficient leveraged funds organized as investment partnerships are likely to recognize capital gains upon charitable contributions, when these capital gains are evaluated in the context of tax benefit and pre-tax return opportunities, they do not present a hurdle for tax efficient investing. For charitably inclined leveraged fund investors, the benefits of a fund’s tax efficiency greatly outweigh the capital gain tax liability they might incur upon contribution of their fund holdings to a charity.","PeriodicalId":39998,"journal":{"name":"Journal of Wealth Management","volume":"25 1","pages":"30 - 49"},"PeriodicalIF":0.0,"publicationDate":"2022-03-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47369422","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
Editor’s Letter 编辑的信
Journal of Wealth Management Pub Date : 2022-01-31 DOI: 10.3905/jwm.2022.24.4.001
Jean L. P. Brunel, Paul Bouchey
{"title":"Editor’s Letter","authors":"Jean L. P. Brunel, Paul Bouchey","doi":"10.3905/jwm.2022.24.4.001","DOIUrl":"https://doi.org/10.3905/jwm.2022.24.4.001","url":null,"abstract":"","PeriodicalId":39998,"journal":{"name":"Journal of Wealth Management","volume":"24 1","pages":"1 - 3"},"PeriodicalIF":0.0,"publicationDate":"2022-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49140332","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
In Search of Market Outperformance: Another Look at Berkshire Hathaway 寻找市场跑赢:再看伯克希尔哈撒韦公司
Journal of Wealth Management Pub Date : 2021-12-16 DOI: 10.3905/jwm.2021.1.163
A. Loviscek, Kangzhen Xie
{"title":"In Search of Market Outperformance: Another Look at Berkshire Hathaway","authors":"A. Loviscek, Kangzhen Xie","doi":"10.3905/jwm.2021.1.163","DOIUrl":"https://doi.org/10.3905/jwm.2021.1.163","url":null,"abstract":"In hindsight, few stocks are as acclaimed as Berkshire Hathaway (BRK) for long-term, wealth-generating, market-beating performance, even with its documented higher risk. Do the results apply across holding periods? Do the results hold in foresight? Addressing these questions, we compare the returns, volatilities, and Sharpe reward-to-variability ratios for BRK-A, the S&P 500, and an application of modern portfolio theory (MPT) for evidence of market outperformance in both hindsight and foresight. The period of study is from January 1, 1990 through December 31, 2019. Whether in hindsight or foresight across holding periods, evidence of BRK’s outperformance, in terms of risk-adjusted returns, is mostly elusive. Although investors may still view the stock as a significant wealth generator, they should be circumspect of it as a robust addition to a portfolio.","PeriodicalId":39998,"journal":{"name":"Journal of Wealth Management","volume":"24 1","pages":"90 - 108"},"PeriodicalIF":0.0,"publicationDate":"2021-12-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46856871","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
Extracting Factor Loadings from Capital Market Assumptions: What Is Embedded in Forecast Hedge Fund Returns? 从资本市场假设中提取因子负荷:预测对冲基金收益中包含什么?
Journal of Wealth Management Pub Date : 2021-12-01 DOI: 10.3905/jwm.2021.1.162
William W. Jennings, B. Payne
{"title":"Extracting Factor Loadings from Capital Market Assumptions: What Is Embedded in Forecast Hedge Fund Returns?","authors":"William W. Jennings, B. Payne","doi":"10.3905/jwm.2021.1.162","DOIUrl":"https://doi.org/10.3905/jwm.2021.1.162","url":null,"abstract":"We detail how to extract factor risk, return, and correlation assumptions from a set of asset-class risk, return, and correlation assumptions. Such capital market assumptions are key tools in institutional and high net worth investment operations. Using an institutional investment consultant’s asset-class assumptions, we use our technique to evaluate the implied factor loadings for a demonstration asset class, hedge funds, and find that much of their return comes from factor exposures. Our analytical approach offers useful insight to the veracity of capital market assumptions, key inputs to investment decision making.","PeriodicalId":39998,"journal":{"name":"Journal of Wealth Management","volume":"24 1","pages":"128 - 141"},"PeriodicalIF":0.0,"publicationDate":"2021-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47110365","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
Evaluating the Performance of World Allocation Funds 评估世界分配基金的绩效
Journal of Wealth Management Pub Date : 2021-11-26 DOI: 10.3905/jwm.2021.1.158
Srinidhi Kanuri, D. Malhotra
{"title":"Evaluating the Performance of World Allocation Funds","authors":"Srinidhi Kanuri, D. Malhotra","doi":"10.3905/jwm.2021.1.158","DOIUrl":"https://doi.org/10.3905/jwm.2021.1.158","url":null,"abstract":"This study analyzes the risk-adjusted performance of world allocation mutual funds, from January 1994 to March 2021 by comparing them to various benchmark indices. We found that world allocation mutual funds were highly correlated with benchmark indices. They also had lower absolute- and risk-adjusted performance compared to benchmark indices. We also computed the six-factor alpha (Carhart four factors plus excess returns of FTSE Total World Ex US and Barclays Aggregate Bond Index) during this time and found that world allocation funds had significantly negative alpha. All these results indicate that world allocation funds would have been better off with passively managed index funds.","PeriodicalId":39998,"journal":{"name":"Journal of Wealth Management","volume":"24 1","pages":"74 - 89"},"PeriodicalIF":0.0,"publicationDate":"2021-11-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47202128","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
Artjewel: No Treasure for Posh Ventures 艺术珠宝：Posh Ventures没有宝藏
Journal of Wealth Management Pub Date : 2021-11-26 DOI: 10.3905/jwm.2021.1.159
R. Bhat, Papiya De, Amit Shrivastava
{"title":"Artjewel: No Treasure for Posh Ventures","authors":"R. Bhat, Papiya De, Amit Shrivastava","doi":"10.3905/jwm.2021.1.159","DOIUrl":"https://doi.org/10.3905/jwm.2021.1.159","url":null,"abstract":"The case aims to serve as a basis for discussing private equity investment strategies in emerging markets such as India, covering the due diligence process, private equity (PE) exit routes, and associated risks. It also focuses on the conflict-of-interest issues when statutory auditors also assume advisory roles.","PeriodicalId":39998,"journal":{"name":"Journal of Wealth Management","volume":"24 1","pages":"109 - 127"},"PeriodicalIF":0.0,"publicationDate":"2021-11-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45078365","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
首页 上一页 下一页 尾页
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整，为了账户安全，请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
请完成安全验证×
相关产品
×
本文献相关产品
联系我们：info@booksci.cn Book学术提供免费学术资源搜索服务，方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号：604180095
Book学术官方微信
小红书