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Purpose – The purpose of this paper is to examine long‐term return of new China collectible stamps after their issuance … the determinants of stamps' long‐term return and test their hypotheses empirically in a sample of 1,201 sets of Chinese … collectible stamps issued between 1949 and 2008. Findings – The paper finds Chinese stamps provide decent returns for collectors …
Persistent link: https://www.econbiz.de/10014694480
-induced demand for luxury consumption in collectibles markets. …
Persistent link: https://www.econbiz.de/10010595307
(net of storage costs) of 4.1%, which exceeds bonds, art, and stamps. Returns to wine and equities are positively …
Persistent link: https://www.econbiz.de/10010389014
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We analyze the prices of Baedeker guidebooks issued between 1828 and 1945 in the English, French and German languages. We compile a repeat sales regression index of eBay hammer prices, which reveals a common factor in Baedeker guidebook prices. We find mixed evidence on the underperformance of...
Persistent link: https://www.econbiz.de/10011048925
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This book combines academic research and practical expertise on alternative assets and trading strategies in a unique way. The asset classes that are discussed include: credit risk, cross-asset derivatives, energy, private equity, freight agreements, alternative real assets (ARA), and socially...
Persistent link: https://www.econbiz.de/10008690477
We use a proprietary database of private equity returns to measure the excess return of private equity over public equity and to partition it into two components: an asset class alpha and compensation for illiquidity. Our evidence suggests that private equity managers, as a group, generate alpha...
Persistent link: https://www.econbiz.de/10010259238
Using the split-share structure reform in China as a quasi-natural experiment, we examine the effect of stock liquidity …
Persistent link: https://www.econbiz.de/10012850138