Although established money managers operate in an environment which seems competitive, they also seem to be very profitable. The present value of the expected future profits from managing a collection of funds is equal to the value of the assets under management times the profit margin, assuming that the managed funds will remain in business forever, zero asset flow into and out of the funds, z...

Here we study the performance of a one-period investment X0 > 0 (dollars) shared among several different assets. Our criterion for measuring performance will be the mean and variance of its rate of return; the variance being viewed as measuring the risk involved. Among other things we will see that the variance of an investment can be reduced simply by diversifying, that is, by sharing the X0 a...

This paper is an empirical investigation of the behavioral life-cycle savings model. This model posits that self-control problems causes individuals to depart substantially from rational behavior. I show that this model can explain how the consumption of individuals at or near retirement vary with changes in different types of financial assets. Specifically, consumption spending is sensitive to...

Most recent evidence is provided for fiscal years 2009 through 2013 where the University experienced consistent growth in Net Assets, Operating Revenues, Endowment Investments, Capital Investments and Bond Indebtedness. The University’s Statement of Changes in Net Assets (SRECNA), [1] Statement of Unrestricted Net Assets (SUNA), [2] as well as the Statement of Net Assets (SNA) [3] and operation...

Information Security Management Systems (ISMS) aim at ensuring proper protection of information values and information processing systems (i.e. assets). Information Security Risk Management (ISRM) techniques are incorporated to deal with threats and vulnerabilities that impose risks to information security properties of these assets. Considering the evolution of information systems as well as m...

We study how firms engaged in both R&D and fixed investment manage liquidity and adjust real investment during the recent financial crisis. Among firms with positive R&D expenditures, cuts to fixed investment in the crisis are typically far more severe than cuts to R&D. These firms allocate cash reserves to buffer R&D but do not use cash to protect fixed investment. Some firms appear to go so f...

abstract rapid changes in the science and technology and considering sport as a profession clues new challenge for sport policy-makers. in this situation, intellectual property and particularly human capital are among the most important organizational assets. the purpose of this study is to evaluate the effect of intellectual capital on entrepreneurial opportunities recognition in sport industr...