with empirical evidence, the model shows that (a) value stocks are those with higher cash-flow risk; (b) the size of the … value premium is larger in "bad times," due to time variation in risk preferences; (c) the unconditional CAPM fails, because …

investors could benefit from changing their allocation to PE. Plans invest in PE funds with higher average risk …-adjusted performance. This is mainly due to access to successful PE managers, not superior selection skill. Decomposing returns into risk …-compensation and "alpha", we find that some plans obtain higher PE returns by taking more risk without earning higher, and in some …

traditional risk statistics. Aggregate research interest is highly correlated with stock size, and salient news and earnings …

valuation of disaster risk. Focusing on media discourse addresses the challenge of sample size even when major disasters are …

to earn higher returns, or investing more broadly to reduce risk through diversification. Using a novel, deal …, but are also the least risky. Returns and risk are both increasing in industry or geographic concentration. And while GP … deal selection, to seek risk-adjusted fund-level returns …

some utilities to use renewables while exempting others. This extra risk is related to more volatile electricity prices and …