risk of thestrategies increases proportionally. Second, we test whether the strategies can be implementedsuccessfully in …, we examine several popularexplanations for the excess returns. We find no evidence of higher market risk or lower …

risky asset portfolios. We show, however, that this positive relationship between risk taking and retirement flexibility is … considered. Productivity risk in combination with a high elasticity of substitution between consumption and leisure creates a … positive correlation between asset returns and labour income, reducing the willingness of consumers to bear risk. Moreover, it …

sample behavior of the resulting estimators. We use these new estimators for dealing with a central issue in credit risk. We …

We study risk and return properties of capital structure arbitrage strategies aiming to profit from temporal mispricing … more than 15% of the returns is explained by common risk factors. …

significant. Finally, we investigate whether the common factor model suffices to capture systematic risk in rating transition data …