Professor Tom Nohel on Leverage Decisions, Business and Economics, Macquarie University

L to R: Professor Lance Fisher, Professor Tom Nohel, Professor Stefan Trueck

Presented in conjunction with the Department of Economics, the seminar considered the leverage decisions of portfolio managers by focusing on closed-end equity and taxable fixed income funds. The impact of various factors - including the liquidity of investments held by the fund, the net value of assets, and fund age - on leverage decisions were examined. The presentation also investigated differences in performance between leveraged and unleveraged funds holding either equities or fixed income assets.
 
The visit, hosted by Professor Lance Fisher, included an informal tour of Sydney's financial district, and meetings with academics, researchers and visiting scholars.

Professor Nohel is based at the Quinlan School of Business at Loyola University. His research interests include strands related to corporate financial policy, including the roles of asymmetric information and financial intermediaries, along with hedge funds and executive compensation and incentives.