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Cash Flow Matching

The practice of matching returns on a portfolio to future capital outlays. That is, cash flow matching involves investing in certain securities with a certain expected return so that the investor will be able to pay for future liabilities. Pension funds and annuities perform the most cash flow matching, as they have future liabilities that are both large and relatively easy to estimate. Portfolios that perform cash flow matching usually invest in low-risk, investment-grade securities. The practice is also called portfolio dedication, matching, or the structured portfolio strategy.

matching

matching

the process of matching revenues and profits with the associated expenses incurred in earning these revenues. See ACCRUALS PRINCIPLE OF ACCOUNTING.
References in periodicals archive ?
Although the original concept of matching theory is simple, its implementation is not easy, because matching two or more banks with the same multidimensional characteristics is difficult, especially when the dimensions are large.
Note that although the matching theory requires that the two types of banks share similar characteristics, there is no theoretical guide regarding "which" and "how many" characteristic variables should be used.
Plummer, Matching Theory, North Holland, Amsterdam, 1986.
Toward that goal, the matching theory continues to serve as a foundation for furthering our understanding of the causes of socially mediated behavior specifically for individuals with disabilities and/or behavior disorders.
With the advent of hypotheses-based interventions and the focus on identification of multiple topographies within a functional response class, application of the matching theory to understand behavioral allocation has gained momentum.
These design procedures are adapted from existing broadband matching theory [2] and illustrated here using an example to clarify each design step.
The techniques employed for designing a matching network that can compensate for impedance variations due to changes in the device bias point are adapted from broadband matching theory. However, an important point that must be emphasized is that in broadband matching, the input or output impedance of the amplifier changes with frequency and so will the matching circuits.
Second, consistent with the implications of matching theory, we find that the probability of a coach-team separation decreased with the coach-team match effect on team performance and with years of coach tenure and coach experience.
Extending the matching theory, we design a non-substitution matching model and propose a novel strategy for this model.
In a sense, the work of this paper has developed and enriched matching theory.
In the remainder of this paper I will identify and discuss two of these principles--behavioral momentum and matching theory. These principles are concerned with the persistence of behavior in the absence of reinforcement and the relativity of reinforcement, respectively.
Although the present study represented another test of matching theory, the primary goal was to test the predictions of linear system theory.