This paper builds a multi-factor, no-arbitrage model of the term structure of interest rates. The stochastic factors are the short-term interest rate and the premia of the futures rates over the short-term interest rate. In the three-factor version of the model, for example, the first factor is the three-month LIBOR,...
SAN MATEO, Calif. -- M-Factor, Inc. (www.m-factor.com), a provider of marketing investment management systems that helps leading consumer marketing organizations maximize their ROI, today announced that the UK Affiliate of the HJ Heinz Company recently selected M-Factor's M3 for management of marketing and trade spending across strategic categories. M-Factor will...
In this white paper the model-based estimation of the cost of capital, the common practice uses the average historical factor premiums as a proxy for the estimated factor premiums. But evidence shows that the common practice generates very inaccurate estimates. The article proposed an alternative way to estimate factor premiums...
This article discusses the relative importance of global versus country specific factors underlying stock return. It constructs a new firm level data set covering emerging and developed markets and estimate a simple factor model, which breaks down stock return into a global business cycle factor, global industry factor, country specific...
In marketing parlance, 'cookie factor' is the creation of a demand for a product with something so alluring that the customer forgets the product itself and concentrates mainly on the 'cookies'. This generates a 'second line' of interest among the customers and they end up buying the main product based...
Factor Comparison is a set of compensatory factors, is identified as determining the worth of jobs. Typically the number of compensatory factors is small for e.g. skill, responsibilities effort, working conditions. This article discusses a process that establishes the rate of pay for each factor for each benchmark job.
HOUSTON--BUSINESS WIRE--Jan. 6, 1997--Continental Airlines today reported for 1996 an all-time record high single-year load factor -- 68.1 percent. The full year 1996 load factor was 2.5 points higher than 1995. In addition, the company recorded a December load factor of 67.6 percent, representing a 4.0 point increase...
In 1999, Alcoa North American Extrusions NAE conducted a power factor study at their facility in Spanish Fork, Utah. Low power factors waste money directly because of higher electricity bills, and indirectly by reducing the efficiency and capacity of the plant distribution system and the productivity of the equipment it...
This paper evaluates the forecasting performance of factor models for Canadian inflation. This type of model was introduced and examined by Stock and Watson (1999a), who have shown that it is quite promising for forecasting U.S. inflation. Using a dimension-reduction method similar to traditional principal-components analysis, we extract a small...
FOSTER CITY, Calif. -- Encentuate Inc., a provider of enterprise access security solutions, today announced that Encentuate TCI is the first access security solution to provide universal two factor authentication with Smart Label technology integration. Now, organizations can have the ultimate freedom of choice as users can leverage virtually any...
A paper mill customer wanted to buy a new 250KVA winder but found out that there was not enough current capacity available in their switchboards to support the new winder. Mill chose POWERLOGIC. Using a Square D POWERLOGIC System, displacement and true power factor were monitored and logged. The data...
This paper proposes a theoretical framework to incorporate a firm's intrinsic value and market-trading value into asset pricing model. It shows that asset return can be decomposed into two components. The first component, called the firm factor, is related to the output of a firm and is proportional to return...
NEW YORK -- Dr. Sebastian Ceria, Chief Executive Officer of Axioma, Inc., today unveiled the Axioma Alpha Factor--a patented-pending new method that improves risk forecasts of factor models--in a presentation to participants in the Alpha Strategies/UBS America Investment Seminar at the Fuqua School of Business of Duke University in Durham,...
Measures of productivity are central to the assessment of economic growth. Measures of multi-factor total factor productivity or of capital productivity rely on the availability of statistical series on the prices and quantities of capital services that enter the production process. Unfortunately, to date only a small number of countries...
Free, Tokenless, Two-Factor Authentication Service Uses Any Phone as an Authentication Device; Provides Simplified Deployment and Low Cost of Ownership
This paper studies time variation in expected excess bond returns. We run regressions of annual excess returns on forward rates. We find that a single factor predicts 1-year excess returns on 1-5 year maturity bonds with an R2 up to 43%. The single factor is a tent-shaped linear function of...
HOAX FACTOR? Gillette has denied British newspaper and television claims this week that recent X Factor winner, Shayne Ward, has been signed to the brand. A spokeswoman for the shaving giant which currently ... HOAX FACTOR? Gillette has denied British newspaper and television claims this...
Risk in bank trading portfolios and its management are potentially important to the banks' soundness and to the functioning of securities and derivatives markets. In this paper, proprietary daily trading revenues of 6 large dealer banks are used to study the bank dealers' market risks using a market factor model...
