coefficient of skewness with a positive sign, meaning that the probability of a large and negative excess return is more likely in … a less liquid market. In addition, a positive realized return is associated with a negative coefficient of skewness, or …

, but also conditional skewness and kurtosis information, when forming direction-of-change forecasts. …

, but also conditional skewness and kurtosis information, when forming direction-of-change forecasts. …

Country indices as represented by iShares exhibit non-normal return distributions with both skewness and kurtosis …