Equity Markets, Valuation, and Analysis. H. Kent Baker
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OF PROMINENCE RECENT FACTOR DISCOVERIES PORTFOLIO IMPLEMENTATION CONSIDERATIONS SUMMARY AND CONCLUSIONS DISCUSSION QUESTIONS REFERENCES CHAPTER 17: Smart Beta Strategies versus Alpha Strategies INTRODUCTION WHAT IS SMART BETA? EMPIRICAL EVIDENCE FROM FACTOR INVESTING AND SMART BETA STUDIES RECENT EMPIRICAL EVIDENCE FROM THE U.S. ETF MARKET SUMMARY AND CONCLUSIONS DISCUSSION QUESTIONS REFERENCES CHAPTER 18: Activist and Impact Investing INTRODUCTION METHODS OF ACTIVISM INSTITUTIONAL ACTIVISTS INDIVIDUAL ACTIVISTS IMPACT INVESTING SUMMARY AND CONCLUSIONS DISCUSSION QUESTIONS REFERENCES CHAPTER 19: Socially Responsible Investing INTRODUCTION A BRIEF HISTORY OF SRI IN THE UNITED STATES ESG GROWTH IN POOLED INVESTMENT VEHICLES RESPONSIBLE INVESTING GROWTH BY INSTITUTIONAL INVESTORS THE PERFORMANCE OF SUSTAINABLE INVESTMENTS LACK OF GUIDELINES ON VOLUNTARY NONFINANCIAL DISCLOSURE ESG DISCLOSURE AND ASSET MANAGER VALUATION METHODOLOGY ESG DISCLOSURE LACKS USEFULNESS METHODS FOR OPERATIONALIZING ESG ISSUES FIDUCIARY DUTY AND ESG INVESTING ESG INTEGRATION FOR EQUITIES CONSIDERATIONS FOR INTEGRATING ESG CASE STUDY SUMMARY AND CONCLUSIONS DISCUSSION QUESTIONS REFERENCES CHAPTER 20: Pooled Investment Vehicles INTRODUCTION OPEN-END MUTUAL FUNDS CLOSED-END FUNDS UNIT INVESTMENT TRUSTS EXCHANGE-TRADED FUNDS SUMMARY AND CONCLUSIONS DISCUSSION QUESTIONS REFERENCES
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PART Four: Special Equity Topics
CHAPTER 21: Investing in Private Equity
INTRODUCTION
PERFORMANCE OF PE FUNDS
PERFORMANCE PERSISTENCE
FACTORS DRIVING PE PERFORMANCE
RISK FACTORS OF PE FUNDS
SUMMARY AND CONCLUSIONS
DISCUSSION QUESTIONS
REFERENCES
CHAPTER 22: Investing in Emerging Markets
INTRODUCTION
CAPITAL FLOWS TO EMERGING MARKETS
ISSUES RELATED TO CAPITAL MARKET INTEGRATION
INSTITUTIONAL STRATEGIES FOR BETTER INVESTMENT DECISIONS
POLITICAL CONNECTIONS, INVESTMENT DECISIONS, AND PERFORMANCE
CORPORATE GOVERNANCE AND PERFORMANCE
VALUATION PRACTICES IN EMERGING MARKETS
SUMMARY AND CONCLUSIONS
DISCUSSION QUESTIONS
REFERENCES
CHAPTER 23: Disclosure Regulations in Emerging Economies and Their Impact on Equity Markets
INTRODUCTION
VARIOUS DISCLOSURE REGULATION APPROACHES
ENVIRONMENTAL AND CSR DISCLOSURE IN EMERGING MARKETS
INSIDER TRADING, DISCLOSURES, AND RELATED REGULATION
INFORMATION DISCLOSURE THROUGH PRIVATE IN-HOUSE MEETINGS
SUMMARY AND CONCLUSIONS
DISCUSSION