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Climate Change and Long-Run Discount Rates : Evidence from Real Estate
Giglio, Stefano - 2015
The optimal investment to mitigate climate change crucially depends on the discount rate used to evaluate the … investment's uncertain future benefits. The appropriate discount rate is a function of the horizon over which these benefits … accrue and the riskiness of the investment. In this paper, we estimate the term structure of discount rates for an important …
Persistent link: https://www.econbiz.de/10013009875
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Islamic Banking, Credit and Economic Growth : Some Empirical Evidence
Caporale, Guglielmo Maria - 2016
This paper examines the effects of Islamic banking on the causal linkages between credit and GDP by comparing two sets of seven emerging countries, the first without Islamic banks, and the second with a dual banking system including both Islamic and conventional banks. Unlike previous studies,...
Persistent link: https://www.econbiz.de/10012998263
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Investment, Resolution of Risk, and the Role of Affect
Van Winden, F. A. A. M. - 2010
investment task. Moreover, emotions were explicitly measured, including anticipatory emotions experienced during the waiting … measured during the experiment. Main findings are that delayed resolution can affect investment, that the effect depends on the …
Persistent link: https://www.econbiz.de/10013146983
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Investor Protection and Foreign Stakeholders
Giofré, Maela - 2014
foreign portfolio investment and the direction of these effects supports the conjecture that foreign stakeholders are more …
Persistent link: https://www.econbiz.de/10013069664
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Stock Market Integration in Asia : Global or Regional? Evidence from Industry Level Panel Convergence Tests
Caporale, Guglielmo Maria - 2017
This paper examines global and regional stock market integration in Asia at both the aggregate and disaggregate (industry) level by applying the Phillips-Sul (2007) tests for panel and club convergence. The main findings can be summarised as follows. In the pre-2008 crisis period, no...
Persistent link: https://www.econbiz.de/10012953892
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Gold, Oil, and Stocks : Dynamic Correlations
Baruník, Jozef - 2015
data. We show that heterogeneity in correlations across a number of investment horizons between pairs of assets is a … in specific correlation dynamics. A strong implication emerges: during the period under research, and from a different-investment …
Persistent link: https://www.econbiz.de/10013023110
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Gold, Oil, and Stocks: Dynamic Correlations
Baruník, Jozef; Kocenda, Evžen; Vácha, Lukáš - CESifo - 2015
data. We show that heterogeneity in correlations across a number of investment horizons between pairs of assets is a … in specific correlation dynamics. A strong implication emerges: during the period under research, and from a different-investment …
Persistent link: https://www.econbiz.de/10011272625
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Testing for Convergence in Stock Markets : A Non-Linear Factor Approach
Caporale, Guglielmo Maria - 2013
This paper applies the Phillips and Sul (2007) method to test for convergence in stock returns to an extensive dataset including monthly stock price indices for five EU countries (Germany, France, the Netherlands, Ireland and the UK) as well as the US over the period 1973-2008. We carry out the...
Persistent link: https://www.econbiz.de/10013095490
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Testing for Convergence in Stock Markets: A Non-Linear Factor Approach
Caporale, Guglielmo Maria; Erdogan, Burcu; Kuzin, Vladimir - CESifo - 2009
This paper applies the Phillips and Sul (2007) method to test for convergence in stock returns to an extensive dataset including monthly stock price indices for five EU countries (Germany, France, the Netherlands, Ireland and the UK) as well as the US over the period 1973-2008. We carry out the...
Persistent link: https://www.econbiz.de/10008572486
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Investor Protection and Foreign Stakeholders
Giofré, Maela - CESifo - 2010
foreign portfolio investment and the direction of these effects supports the conjecture that foreign stakeholders are more …
Persistent link: https://www.econbiz.de/10008572590