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In 1976 Stephen A. Ross developed a new theory of securities pricing called the Arbitrage Pricing Theory (APT). According to the APT the return an investor can expect from a share is related to the risk-free rate and numerous other factors rather than just the return on the market as predicted...
Persistent link: https://www.econbiz.de/10012218150
In this article a bootstrapping routine is used to compare the efficiency of different benchmarks that can be used for measuring security price performance on the Johannesburg Stock Exchange. Four approaches are compared; three benchmarks based on the theory of the Capital Asset Pricing Model, and...
Persistent link: https://www.econbiz.de/10012218251
There are two principal theories of commodity futures prices. The theory of storage, which explains the difference between contemporaneous futures and spot prices (the basis) in terms of interest rates, warehousing costs, and convenience yields, and the theory of forecast power and premium,...
Persistent link: https://www.econbiz.de/10012218270
‘[V]irtually all public and private enterprises – including most successful corporations - are becoming dominantly repositories and coordinators of intellect' (Quinn, 1992: 241). University based management schools play a role in harnessing this intellect by supporting the development of...
Persistent link: https://www.econbiz.de/10012218595
This paper investigates what business schools are saying in their mission statements and whether they provide a meaningful basis for strategic choice, distinction and differentiation from a positioning perspective; or whether they are the equivalent of "table stakes" in the MBA game -...
Persistent link: https://www.econbiz.de/10012218803
While considerable empirical work has been conducted in the United States concerning excess returns and the relationship of these returns to firm size and E/P ratio, thus far, there have been few similar empirical studies conducted using Johannesburg Stock Exchange (JSE) data. Evidence of firm...
Persistent link: https://www.econbiz.de/10012218301
This paper employs textual analysis to investigate whether business school accreditation guidelines may be considered to facilitate innovation. We identify the relative dominance of concepts and themes within accreditation guidelines of the three primary international business school...
Persistent link: https://www.econbiz.de/10012947171