Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/84475
Authors: 
Apreda, Rodolfo
Year of Publication: 
2010
Series/Report no.: 
Serie Documentos de Trabajo, Universidad del CEMA: Área: finanzas 416
Abstract: 
This research paper sets forth that an alternative for managing the internal investment fund of any company, lies on separation portfolios. Firstly, the company's internal investment portfolio is built up within the context of the incremental cash-flow model. Next, separation portfolios are introduced and consequential features for this paper are predicated upon them: firstly, they provide an easier framework for risk-management; secondly, their risk-return profile bring about a down-to-earth performance benchmark. Afterwards, the internal investment portfolio is mapped out like a distinctive separation portfolio. Lastly, pragmatic consequences and some corporate governance advantages of this financial engineering will follow.
Subjects: 
separation portfolios
portfolio management
incremental cash-flow model
corporate governance
internal investment fund
risk metrics
JEL: 
G11
G34
G32
Document Type: 
Working Paper

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