Submitted: Jun 24, 2013; Accepted: Jul 19, 2013; Published: Jul 25, 2013 Abstract: The article presents an empirical study of institutional maturity as a determinant of companies’ value and well-being of countries as a whole. Regression models of value multiples with inclusion of institutional factors are developed. Value of companies is studied in terms of the following multipliers: Price-Earn...

Risk management through marginal rebalancing is important for institutional investors due to the size of their portfolios. We consider the problem of improving marginally portfolio VaR and CVaR through a marginal change in the portfolio return characteristics. We study the relative significance of standard deviation, mean, tail thickness, and skewness in a parametric setting assuming a Student’...

For many years, the equity allocation of Japanese institutional investors has typically been split between domestic and international assets and tended to be concentrated in large and mid cap stocks. Given the constant challenge for investors to optimize the asset allocation mix to produce better risk-adjusted returns, one increasingly popular option has been to venture into small cap stocks. I...

Efficient Order-Channel Management, i.e. the process of information gathering, evaluation, decision and control regarding the setup of the overall trading infrastructure and the actual order routing implementation plays a crucial role for trading success as well as the competitiveness of Institutional Investors. This article introduces a framework intended to support Institutional Investors in ...