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Assessments of Regional and Global Environmental Risks: Designing Processes for the Effective Use of Science in Decisionmaking
by Alexander E. Farrell Jill Professor JägerAs environmental challenges grow larger in scale and implications, it is increasingly important to apply the best scientific knowledge in the decisionmaking process. Editors Farrell and J?ger present environmental assessments as the bridge between the expert knowledge of scientists and engineers on the one hand and decisionmakers on the other. When done well, assessments have a positive impact on public policy, the strategic decisions of private firms, and, ultimately, the quality of life for many people. This book is the result of an international, interdisciplinary research project to analyze past environmental assessments and understand how their design influenced their effectiveness in bringing scientific evidence and insight into the decisionmaking process. The case studies in the book feature a wide range of regional and global risks, including ozone depletion, transboundary air pollution, and climate change. Assessments of Regional and Global Environmental Risks offers several important contributions. It provides a clear account of the choices faced in the design of environmental assessments and a clear description of the lessons learned from past assessments. It illustrates why assessments are social processes, not simply reports. And, while they identify no universal, one-size-fits-all design, the authors find that, to be effective, environmental assessments must be viewed by those who produce and use them as being salient; credible in their scientific support; and legitimate, or fair in design and execution.
Asset Accounting Configuration in SAP ERP: A Step-by-Step Guide
by Andrew OkungbowaIn this book, noted expert Andrew Okungbowa explains SAP Asset Accounting (FI-AA) in SAP-ERP, including its associated business benefits, and guides you through the considerable complexities of SAP-ERP configuration. Using FI-AA for fixed asset management enables you to manage assets in multinational companies across a broad range of industries and produce reports to meet various needs in line with legal requirements. Configuring SAP-ERP can be a daunting exercise, however, and there are few resources that address these issues. Asset Accounting Configuration in SAP ERP fills that resource gap by covering the major aspects of SAP FI-AA for anyone with SAP experience and the basic accounting knowledge and bookkeeping skills necessary to apply configuration. It provides configuration explanations in the simplest forms possible and provides step-by-step guidance with illustrations and practical examples.What You'll LearnIn-depth coverage of FI-AA syllabusHow to configure FI-AA accounting in SAPHow to integrate FI-AA accounting with other SAP modulesHow to explain the functionalities of SAP FI-AAKnowledge gained from real-world practical examples and case studiesWho This Book Is ForThe key target audience for this book includes SAP consultants, developers, accountants, support organizations and beginners. It is also a resourceful learning manual for universities and institutions whose curricula covers SAP-ERP Asset Accounting.
Asset Allocation: From Theory to Practice and Beyond
by William Kinlaw Mark P. Kritzman David TurkingtonDiscover a masterful exploration of the fallacies and challenges of asset allocation In Asset Allocation: From Theory to Practice and Beyond—the newly and substantially revised Second Edition of A Practitioner’s Guide to Asset Allocation—accomplished finance professionals William Kinlaw, Mark P. Kritzman, and David Turkington deliver a robust and insightful exploration of the core tenets of asset allocation. Drawing on their experience working with hundreds of the world’s largest and most sophisticated investors, the authors review foundational concepts, debunk fallacies, and address cutting-edge themes like factor investing and scenario analysis. The new edition also includes references to related topics at the end of each chapter and a summary of key takeaways to help readers rapidly locate material of interest. The book also incorporates discussions of: The characteristics that define an asset class, including stability, investability, and similarity The fundamentals of asset allocation, including definitions of expected return, portfolio risk, and diversification Advanced topics like factor investing, asymmetric diversification, fat tails, long-term investing, and enhanced scenario analysis as well as tools to address challenges such as liquidity, rebalancing, constraints, and within-horizon risk. Perfect for client-facing practitioners as well as scholars who seek to understand practical techniques, Asset Allocation: From Theory to Practice and Beyond is a must-read resource from an author team of distinguished finance experts and a forward by Nobel prize winner Harry Markowitz.
Asset Allocation: From Theory to Practice and Beyond (Wiley Finance Ser.)
by William Kinlaw Mark P. Kritzman David TurkingtonDiscover a masterful exploration of the fallacies and challenges of asset allocation In Asset Allocation: From Theory to Practice and Beyond—the newly and substantially revised Second Edition of A Practitioner’s Guide to Asset Allocation—accomplished finance professionals William Kinlaw, Mark P. Kritzman, and David Turkington deliver a robust and insightful exploration of the core tenets of asset allocation. Drawing on their experience working with hundreds of the world’s largest and most sophisticated investors, the authors review foundational concepts, debunk fallacies, and address cutting-edge themes like factor investing and scenario analysis. The new edition also includes references to related topics at the end of each chapter and a summary of key takeaways to help readers rapidly locate material of interest. The book also incorporates discussions of: The characteristics that define an asset class, including stability, investability, and similarity The fundamentals of asset allocation, including definitions of expected return, portfolio risk, and diversification Advanced topics like factor investing, asymmetric diversification, fat tails, long-term investing, and enhanced scenario analysis as well as tools to address challenges such as liquidity, rebalancing, constraints, and within-horizon risk. Perfect for client-facing practitioners as well as scholars who seek to understand practical techniques, Asset Allocation: From Theory to Practice and Beyond is a must-read resource from an author team of distinguished finance experts and a forward by Nobel prize winner Harry Markowitz.
Asset Allocation and International Investments (Finance and Capital Markets Series)
by G. GregoriouThis book relates to strategic asset allocation for institutional investors. It consists of a collection of edited papers from academics worldwide on the latest developments in asset allocation, portfolio management and international investments. These expert studies can improve the risk and return characteristics of your investment portfolio.
Asset Allocation and Private Markets: A Guide to Investing with Private Equity, Private Debt, and Private Real Assets (Wiley Finance)
by Cyril Demaria Maurice Pedergnana Remy He Roger Rissi Sarah DebrandThe comprehensive guide to private market asset allocation Asset Allocation and Private Markets provides institutional investors, such as pension funds, insurance groups and family offices, with a single-volume authoritative resource on including private markets in strategic asset allocation. Written by four academic and practitioner specialists, this book provides the background knowledge investors need, coupled with practical advice from experts in the field. The discussion focuses on private equity, private debt and private real assets, and their correlation with other asset classes to establish optimized investment portfolios. Armed with the grounded and critical perspectives provided in this book, investors can tailor their portfolio and effectively allocate assets to traditional and private markets in their best interest. In-depth discussion of return, risks, liquidity and other factors of asset allocation takes a more practical turn with guidance on allocation construction and capital deployment, the “endowment model,” and hedging — or lack thereof. Unique in the depth and breadth of information on this increasingly attractive asset class, this book is an invaluable resource for investors seeking new strategies. Discover alternative solutions to traditional asset allocation strategies Consider attractive returns of private markets Delve into private equity, private debt and private real assets Gain expert perspectives on correlation, risk, liquidity, and portfolio construction Private markets represent a substantial proportion of global wealth. Amidst disappointing returns from stocks and bonds, investors are increasingly looking to revitalise traditional asset allocation strategies by weighting private market structures more heavily in their portfolios. Pension fund and other long-term asset managers need deeper information than is typically provided in tangential reference in broader asset allocation literature; Asset Allocation and Private Markets fills the gap, with comprehensive information and practical guidance.
Asset Allocation and Private Markets: A Guide to Investing with Private Equity, Private Debt, and Private Real Assets (Wiley Finance)
by Cyril Demaria Maurice Pedergnana Remy He Roger Rissi Sarah DebrandThe comprehensive guide to private market asset allocation Asset Allocation and Private Markets provides institutional investors, such as pension funds, insurance groups and family offices, with a single-volume authoritative resource on including private markets in strategic asset allocation. Written by four academic and practitioner specialists, this book provides the background knowledge investors need, coupled with practical advice from experts in the field. The discussion focuses on private equity, private debt and private real assets, and their correlation with other asset classes to establish optimized investment portfolios. Armed with the grounded and critical perspectives provided in this book, investors can tailor their portfolio and effectively allocate assets to traditional and private markets in their best interest. In-depth discussion of return, risks, liquidity and other factors of asset allocation takes a more practical turn with guidance on allocation construction and capital deployment, the “endowment model,” and hedging — or lack thereof. Unique in the depth and breadth of information on this increasingly attractive asset class, this book is an invaluable resource for investors seeking new strategies. Discover alternative solutions to traditional asset allocation strategies Consider attractive returns of private markets Delve into private equity, private debt and private real assets Gain expert perspectives on correlation, risk, liquidity, and portfolio construction Private markets represent a substantial proportion of global wealth. Amidst disappointing returns from stocks and bonds, investors are increasingly looking to revitalise traditional asset allocation strategies by weighting private market structures more heavily in their portfolios. Pension fund and other long-term asset managers need deeper information than is typically provided in tangential reference in broader asset allocation literature; Asset Allocation and Private Markets fills the gap, with comprehensive information and practical guidance.
Asset Allocation Considerations for Pension Insurance Funds: Theoretical Analysis and Empirical Evidence
by Christian HertrichThe central research objective of the dissertation is to assess the suitability of Social Responsible Investments (SRIs) as well as alternative investments for the strategic asset allocation of German Pension Insurance Funds (Pensionskassen). Using a Vector Error Correction model, we estimate the data generating process of the underlying input variables. A bootstrap simulation allows generating future return paths of the underlying portfolios. These return distributions will subsequently be used as input for different asset allocation strategies.The empirical results of our research study offer valuable conclusions: (1) SRI-structured portfolios consistently perform better than conventional portfolios, (2) including alternative investments has a beneficial effect on the risk-return distribution and (3) derivative overlay structures mitigate downside risk exposure without impacting average fund performance. In terms of alternative allocation models, (1) high-equity portfolios lead to an increase in return volatility without sufficiently compensating investors with higher returns, (2) hedging against price increases by engineering a portfolio with inflation-suitable assets yields mixed results, (3) a portfolio composition that combines derivative overlay strategies for both equities and corporate bonds and uses SRI-screened assets as underlying generates the best results.
Asset Allocation For Dummies
by Dorianne Perrucci Jerry A. MiccolisAn easy-to-understand how-to guide to the single most important thing you can do in investing — choosing and mixing your assets successfully. You don’t need to be an expert analyst, a star stock-picker, or a rocket scientist to have better investment results than most other investors. You just need to allocate your assets in the right way, and have the conviction to stick with that allocation. The big secret behind asset allocation — the secret that most sophisticated investors know and use to their benefit — is that it’s really not all that hard to do. Asset Allocation For Dummies serves as a comprehensive guide to maximizing returns and minimizing risk — while managing taxes, fees and other costs — in putting together a portfolio to reflect your unique financial goals. Jerry A. Miccolis (Basking Ridge, NJ), CFA®, CFP®, FCAS, MAAA is a widely quoted expert commentator who has been interviewed in The New York Times and the Wall Street Journal, and appeared on CBS Radio and ABC-TV. He is a senior financial advisor and co-owner of Brinton Eaton Wealth Advisors (www.brintoneaton.com), a fee-only investment management, tax advisory and financial planning firm in Madison, N.J. Dorianne R. Perrucci (Scotch Plains, NJ) is a freelance writer who has been published in The New York Times, Newsweek, and TheStreet.com, and has collaborated on several financial books, including I.O.U.S.A, One Nation, Under Stress, In Debt (Wiley, 2008).
Asset Allocation For Dummies
by Dorianne Perrucci Jerry A. MiccolisAn easy-to-understand how-to guide to the single most important thing you can do in investing — choosing and mixing your assets successfully. You don’t need to be an expert analyst, a star stock-picker, or a rocket scientist to have better investment results than most other investors. You just need to allocate your assets in the right way, and have the conviction to stick with that allocation. The big secret behind asset allocation — the secret that most sophisticated investors know and use to their benefit — is that it’s really not all that hard to do. Asset Allocation For Dummies serves as a comprehensive guide to maximizing returns and minimizing risk — while managing taxes, fees and other costs — in putting together a portfolio to reflect your unique financial goals. Jerry A. Miccolis (Basking Ridge, NJ), CFA®, CFP®, FCAS, MAAA is a widely quoted expert commentator who has been interviewed in The New York Times and the Wall Street Journal, and appeared on CBS Radio and ABC-TV. He is a senior financial advisor and co-owner of Brinton Eaton Wealth Advisors (www.brintoneaton.com), a fee-only investment management, tax advisory and financial planning firm in Madison, N.J. Dorianne R. Perrucci (Scotch Plains, NJ) is a freelance writer who has been published in The New York Times, Newsweek, and TheStreet.com, and has collaborated on several financial books, including I.O.U.S.A, One Nation, Under Stress, In Debt (Wiley, 2008).
Asset Allocation für die Alterssicherung: Performance-Steigerung durch Nutzung von Zeithorizonteffekten (Bank- und Finanzwirtschaft)
by Reinhard LahusenReinhard Lahusen entwickelt drei eigene Modelle, die er mit vorhandenen Modellen vergleicht, wobei grundsätzliche Kriterien des Asset-Managements sowie Anforderungen des deutschen Alterssicherungssystems und der Praktikabilität berücksichtigt werden.
Asset Allocation, Risiko-Overlay und Manager-Selektion: Das Diversifikationsbuch
by Dirk Söhnholz Sascha Rieken Dieter G. KaiserDie jüngste Finanzmarktkrise hat gezeigt, dass herkömmliche Diversifikationskonzepte nicht immer erwartungsgemäß funktionieren. In diesem Buch entwickeln mit Dirk Söhnholz, Sascha Rieken und Dieter Kaiser drei Experten aus den Bereichen Asset Allocation und Manager-Selektion neue Ansätze für nachhaltige Anlageerfolge. Während Diversifikation üblicherweise als Long-Only-Allokation zu wenigen Anlageklassen erfolgt, wird hier das Konzept der Diversifikation verallgemeinert und als eine breite Investment-Strategie-Diversifikation anstatt nur eine Diversifikation über Anlageklassen aufgefasst. Dabei werden Verfahren der Managerauswahl vorgestellt, die eine solche Strategie-Diversifikation ermöglichen. Soweit sinnvoll, werden auch passive Strategien berücksichtigt. Die Autoren zeigen, dass selbst eine naive Strategie-Diversifikation langfristig hervorragende Anlageergebnisse liefert. Insbesondere in Krisen schützen jedoch weder eine breite Diversifikation noch eine diskretionäre taktische Allokation zuverlässig vor Verlusten. Zur Absicherung sind systematische Risiko-Managementkonzepte daher unverzichtbar. Es wird ferner gezeigt, dass solche Risiko-Overlay-Konzepte auch für weniger liquide Anlageklassen erfolgreich eingesetzt werden können, wodurch deren langfristig hohen Renditepotentiale auch bei höherer Risikoaversion besser genutzt werden können. Die vorgeschlagenen Investmentkonzepte werden abschließend anhand eines Portfolios für einen idealtypischen Investor konkretisiert.
Asset Allocation Strategies for Mutual Funds: Evaluating Performance, Risk and Return
by Giuseppe GalloppoThis book offers an overview of the best-working strategies in the field of equity and fixed income mutual fund-based portfolio management. This timely research considers different market conditions, such as global financial crises, across various geographical regions such as the USA and Europe. Combining academic and practical findings, the author presents a practitioner perspective on mutual fund-based portfolio strategies, appealing not only to finance scholars but also professionals within the asset management industry. This book synthesizes a large part of the academic research to date on the mutual fund industry by drawing from the most widely cited academic journals. The author makes a systematic use of numerical examples to facilitate the understanding of Investment themes organized around several important topics: size, diversification, flows, active management, volatility, performance persistence and rating.
Asset and Liability Management for Banks and Insurance Companies
by Marine Corlosquet-Habart William Gehin Jacques Janssen Raimondo MancaThis book introduces ALM in the context of banks and insurance companies. Although this strategy has a core of fundamental frameworks, models may vary between banks and insurance companies because of the different risks and goals involved. The authors compare and contrast these methodologies to draw parallels between the commonalities and divergences of these two services and thereby provide a deeper understanding of ALM in general.
Asset and Liability Management for Banks and Insurance Companies
by Marine Corlosquet-Habart William Gehin Jacques Janssen Raimondo MancaThis book introduces ALM in the context of banks and insurance companies. Although this strategy has a core of fundamental frameworks, models may vary between banks and insurance companies because of the different risks and goals involved. The authors compare and contrast these methodologies to draw parallels between the commonalities and divergences of these two services and thereby provide a deeper understanding of ALM in general.
Asset and Liability Management Handbook
by Gautam Mitra & Katharina SchwaigerRecent years have shown an increase in development and acceptance of quantitative methods for asset and liability management strategies. This book presents state of the art quantitative decision models for three sectors: pension funds, insurance companies and banks, taking into account new regulations and the industries risks.
Asset and Risk Management: Risk Oriented Finance (The Wiley Finance Series)
by Louis Esch Robert Kieffer Thierry LopezThe aim of this book is to study three essential components of modern finance – Risk Management, Asset Management and Asset and Liability Management, as well as the links that bind them together. It is divided into five parts: Part I sets out the financial and regulatory contexts that explain the rapid development of these three areas during the last few years and shows the ways in which the Risk Management function has developed recently in financial institutions. Part II is dedicated to the underlying theories of Asset Management and deals in depth with evaluation of financial assets and with theories relating to equities, bonds and options. Part III deals with a central theory of Risk Management, the general theory of Value at Risk or VaR, its estimation techniques and the setting up of the methodology. Part IV is the point at which Asset Management and Risk Management meet. It deals with Portfolio Risk Management (the application of risk management methods to private asset management), with an adaptation of Sharpe’s simple index method and the EGP method to suit VaR and application of the APT method to investment funds in terms of behavioural analysis. Part V is the point at which Risk Management and Asset and Liability Management (ALM) meet, and touches on techniques for measuring structural risks within the on and off balance sheet. The book is aimed both at financial professionals and at students whose studies contain a financial aspect. "Esch, Kieffer and Lopez have provided us with a comprehensive and well written treatise on risk. This is a must read, must keep volume for all those who need or aspire to a professional understanding of risk and its management." —Harry M Markowitz, San Diego, USA
Asset Assessments and Community Social Work Practice
by Melvin Delgado Denise Humm-DelgadoNeeds assessments identify the needs for services, answering questions about who needs these services and in what priority. Asset assessments focuses on existing resources; combing both needs and asset assesments helps find the gaps in these services and is useful to organizations and communities. Assets assessments differ dramatically from their needs assessments counterparts along a variety of key dimensions. Asset assessments generally attempt to: (1) focus on capacities rather than problems/needs; (2) actively seek community participation and develop collaborative partnerships; (3) seek to tap and enhance community competencies; (4) seek to equalize power between residents and professionals; (5) be proactive rather than reactive to problems; and (6) stress community contributions and ownership of the process and are thus empowerment-driven.
Asset Attack Vectors: Building Effective Vulnerability Management Strategies to Protect Organizations
by Morey J. Haber Brad HibbertBuild an effective vulnerability management strategy to protect your organization’s assets, applications, and data.Today’s network environments are dynamic, requiring multiple defenses to mitigate vulnerabilities and stop data breaches. In the modern enterprise, everything connected to the network is a target. Attack surfaces are rapidly expanding to include not only traditional servers and desktops, but also routers, printers, cameras, and other IOT devices. It doesn’t matter whether an organization uses LAN, WAN, wireless, or even a modern PAN—savvy criminals have more potential entry points than ever before. To stay ahead of these threats, IT and security leaders must be aware of exposures and understand their potential impact. Asset Attack Vectors will help you build a vulnerability management program designed to work in the modern threat environment. Drawing on years of combined experience, the authors detail the latest techniques for threat analysis, risk measurement, and regulatory reporting. They also outline practical service level agreements (SLAs) for vulnerability management and patch management. Vulnerability management needs to be more than a compliance check box; it should be the foundation of your organization’s cybersecurity strategy. Read Asset Attack Vectors to get ahead of threats and protect your organization with an effective asset protection strategy. What You’ll Learn Create comprehensive assessment and risk identification policies and procedures Implement a complete vulnerability management workflow in nine easy steps Understand the implications of active, dormant, and carrier vulnerability states Develop, deploy, and maintain custom and commercial vulnerability management programs Discover the best strategies for vulnerability remediation, mitigation, and removal Automate credentialed scans that leverage least-privilege access principles Read real-world case studies that share successful strategies and reveal potential pitfalls Who This Book Is For New and intermediate security management professionals, auditors, and information technology staff looking to build an effective vulnerability management program and defend against asset based cyberattacks
Asset-backed Finanzierungen und handelsbilanzielle Zuordnung
by Mathias TurwittAsset-backed Finanzierungen sind ein attraktives Instrument, um Bilanzen zu entlasten und Bilanzstrukturen zu verbessern. Der Autor entwickelt ein Regelwerk, mit dem Zuordnungsprobleme von Forderungen bei Asset-backed Finanzierungen gelöst werden können.
Asset-Backed Securities: Ein Produkt für deutsche Banken (Trends in Finance and Banking)
by Niklas BarteltNach dem großen Erfolg in den USA gewinnen die Asset-Backed Securities auch in Deutschland immer mehr an Bedeutung. Dieses Buch stellt dar, warum und unter welchen Bedingungen sie konkurrierenden Finanzierungsformen überlegen sind.
Asset-Backed Securities: Ein innovatives Instrument zur Finanzierung deutscher Unternehmen (Schriftenreihe für Kreditwirtschaft und Finanzierung #224)
by Hanns-P. OhlBei dem vorliegenden Werk handelt es sich um die erste umfassende deutschsprachige Monographie zum Thema Credit Securitization
Asset Backed Securities: Die Verbriefung von Handelsforderungen als Finanzierungsalternative für den großen Mittelstand (Strategic Finance)
by Johannes SchmittatJohannes E. Schmittat befasst sich mit den verschiedenen Effekten der Verbriefung von Handelsforderungen und untersucht deren tatsächlichen Nutzen auf Basis der bestehenden Corporate Finance Literatur empirisch. Mit Hilfe von Clinical Studies und Case Studies analysiert er einzelne Transaktionen intensiv mit dem Ziel eines umfangreichen Verständnisses der Verbriefungen und gibt Einblicke in die Finanzierungsentscheidungen der Unternehmen und der hierfür wichtigen Einflussfaktoren.
Asset-Backed Securities: Eine Agency-theoretische Einordnung und Analyse zur Anwendung im kommunalen Sektor
by Marcus SidkiDie vorliegende Arbeit untersucht, unter welchen Voraussetzungen Asset-Backed Securities als alternative Finanzierungsform für die Kommunalfinanzierung geeignet sind. Vor dem Hintergrund enormer Defizite und struktureller Probleme in der kommunalen Finanzierung besteht ein großer Bedarf nach alternativen Lösungsmöglichkeiten und Finanzierungskonstrukten, ohne dabei die Grenzen des verantwortichen Handelns der öffentlichen Entscheidungsträger zu überschreiten. Hierzu werden zunächst ABS als komplexes Finanzierungsprodukt dargestellt und dessen engogene Anreizkonflikte aber auch der ökonomische Mehrwert anhand der Agency-Theorie untersucht. Anhand einer mehrstufigen empirischen Untersuchung werden ferner die Anwendbarkeit von ABS in der kommunalen Finanzierung unter Berücksichtigung aller relevanten Besonderheiten dieses Sektors analysiert und konkrete Strukturvorschläge als Handlungsempfehlungen unterbreitet.