Showing 1 - 10 of 14
This paper addresses the traditional Lakonishok, Shleifer and Vishny (LSV) herding measure and points out its lack of … formal explanation of this bias and propose a more appropriate measure of herding. We then turn to the properties of the new … propose a corrected version of their indicator. We also show that the real herding value is within an interval bounded by LSV …
Persistent link: https://www.econbiz.de/10008793516
communities in the fields of agriculture, herding and agroforestry. …
Persistent link: https://www.econbiz.de/10010891259
We show how to reverse-engineer banks' risk disclosures, such as Value-at-Risk, to obtain an implied measure of their exposures to equity, interest rate, foreign exchange, and commodity risks. Factor Implied Risk Exposures (FIRE) are obtained by breaking down a change in risk disclosure into a...
Persistent link: https://www.econbiz.de/10010899552
Using the traditional herding measure of Lakonishok, Shleifer and Vishny (1992) (LSV) and the more recent measure of … Frey, Herbst and Walter (2007) (FHW), we assess herding by French equity mutual funds between 1999 and 2005. We show that … LSV herding amounts to 6.5%, while FHW herding is approximately 2.5 times stronger. We find that herding is stronger in …
Persistent link: https://www.econbiz.de/10010930102
suggests that the phenomena of comparison and habituation are actually found in a variety of economic and social activities …
Persistent link: https://www.econbiz.de/10010739114
Steel industry has been engaged for a very long time in a downsizing process which has deeply transformed social and industrial relations, work and employment management. Once, these industry was owned and managed by big national groups (sometimes public) and employed a lot of workers at...
Persistent link: https://www.econbiz.de/10008788841
The hospital industry could be characterised on the one hand as under “industrial constraints” (just in time, 24 hours opening, and on the other hand as a service activity with, in departments, a high degree of patient oriented activities. Very similar pressure are exerted on hospitals in...
Persistent link: https://www.econbiz.de/10008789108
comparison with France. It has been designed as follows. In section 1, we begin by comparing the general features of labour …
Persistent link: https://www.econbiz.de/10008790464
Finland and France share some common characteristics regarding the labour market situation and trends : a high level of unemployment (respectively 8.4% and 9.5%), a low rate of employment among the 55-65 and the 15-24 age groups (for the latter mainly due to a “full time” educational model),...
Persistent link: https://www.econbiz.de/10008790996
This paper attempts to interpret the interrelated dimensions of learning between technological professions (technicians, engineers, researchers) and the dynamic process of innovation on the basis of a international comparative analysis. One of main hypothesis is that scientific and technological...
Persistent link: https://www.econbiz.de/10008791966