Showing 1 - 10 of 123
We study the investor behavior on a leading peer-to-business lending platform and find evidence of two new investment biases—a default shock bias and a deep market bias. First, we find investors to stop investing in new loans and to cease from diversifying their portfolio after experiencing a...
Persistent link: https://www.econbiz.de/10011872149
This paper considers a simple model of credit risk and derives the limit distribution of losses under different assumptions regarding the structure of systematic and idiosyncratic risks and the nature of firm heterogeneity. The theoretical results obtained indicate that if firm-specific risk...
Persistent link: https://www.econbiz.de/10010276169
This paper characterizes the asymptotic behaviour, as the number of assets gets arbitrarily large, of the portfolio weights for the class of tangency portfolios belonging to the Markowitz paradigm. It is assumed that the joint distribution of asset returns is characterized by a general factor...
Persistent link: https://www.econbiz.de/10010276224
. In the longer run, however, a trade-off between diversification and climate action emerges. We derive the optimal carbon …
Persistent link: https://www.econbiz.de/10012269546
diversification as an essential aspect of national risk management aimed at promoting efficiency, growth, and welfare. The paper first … presents economic and political diversification side by side in a cross-country framework and discusses how they interact and … effects of insufficient economic and insufficient political diversification. Dominated for decades by the fishing industry …
Persistent link: https://www.econbiz.de/10010531861
A positive relationship between firm size and product diversification is a long-standing stylized fact. However, so far …
Persistent link: https://www.econbiz.de/10010315879
. In the longer run, however, a trade-off between diversification and climate action emerges. We derive the optimal carbon …
Persistent link: https://www.econbiz.de/10012825992
system. Given this backdrop, this study introduces a new measure of energy diversification. It explores its impact on … economic growth with increasing long-run energy diversification. However, some countries (OECD and G20) experience negative … economic growth due to energy diversification in the short term. The results also disclosed that energy diversification does …
Persistent link: https://www.econbiz.de/10013215675
Using data from the U.S. automobile market, we empirically examine the link between competition and innovation … this an interesting market to examine the link between competition and innovation. We use firm-level time-series data over … patenting, and the relationship is reasonably non-linear; (2) higher market-wide competition results in an increase in patenting …
Persistent link: https://www.econbiz.de/10011388173
This study experimentally investigates gender quotas in light of peer review. We investigate competitions with and without gender quotas and a peer review process that allows for sabotage. Our findings show that the possibility of peer sabotage renders the gender quota ineffective in encouraging...
Persistent link: https://www.econbiz.de/10011388217