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Persistent link: https://www.econbiz.de/10011092128
riskless assets when there is uninsurable background risk. This paper analyzes empirically the relevance of precautionary … response of households' portfolios to uninsurable background risk. We find some, but not unanimous support for the view that …
Persistent link: https://www.econbiz.de/10011092162
Persistent link: https://www.econbiz.de/10011092341
Hedge funds databases are typicall subject to high attrition rates because of fund termination and self-selection.Even when all funds are included up to their last available return, one cannot prevent that ex post conditioning biases affect standard estimates of performance persistence.In this...
Persistent link: https://www.econbiz.de/10011092451
We ask how pension fund trustees deal with the booms and busts that funds encounter, and to what extent the decisions of pension fund trustees are affected by behavioral biases. We examine these issues by using a vignette-method field experiment among Dutch pension fund trustees. We find that...
Persistent link: https://www.econbiz.de/10011092529
Homestead exemptions to personal bankruptcy allow households to retain their home equity up to a limit determined at the state level. Households that may experience bankruptcy thus have an incentive to bias their portfolios towards home equity. Using US household data from the Survey of Income...
Persistent link: https://www.econbiz.de/10011092541
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relationship on size and age of the fund.The return on systematic risk factors has a small additional impact on top of the impact … of risk-adjusted returns. …
Persistent link: https://www.econbiz.de/10011092674
-linked bonds are substantially reduced.We investigate as well the robustness of our results to time-variation in bond risk premia …, the riskiness of labor income, and correlation between labor income risk and financial risks.We find that especially … accounting for time-variation in bond risk premia and correlation between labor income risk and financial risks is important for …
Persistent link: https://www.econbiz.de/10011092730
Stock markets and betting markets co-exist for professional soccer clubs listed on the London Stock Exchange.For each firm, two pieces of information are released to the stock market on a weekly basis from August to June: experts expectations about game outcomes through the betting odds, and the...
Persistent link: https://www.econbiz.de/10011092755