This paper extends the risk-sensitive asset management theory developed by Bielecki and Pliska and by Kuroda and Nagai to the case where the investor's objective is to outperform an investment benchmark. The main result is a mutual fund theorem. Every investor following the same benchmark will...

Framing immunity -- What can immunity do? -- Immunological narratives -- The popularisation of immunology -- Immunity and digital media -- Immune selves -- Fragile immunitary economies -- Immunity and its discontents.

Purpose: The purpose of this study is to examine the facilitating and inhibiting influence of team-level negative affectivity and conscientiousness on a dyad of emergent states, adopting and comparing both the composition and compilation perspectives. Design/methodology/approach: Data were...

In several countries a major factor contributing to the current economic crisis was massive borrowing to fund investment projects on the basis of, in retrospect, grossly optimistic valuations. The purpose of this paper is to initiate an approach to project valuation and risk management in which...

We consider the problem of maximizing terminal utility in a model where asset prices are driven by Wiener processes, but where the various rates of returns are allowed to be arbitrary semimartingales. The only information available to the investor is the one generated by the asset prices and, in...