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The choice of valuation techniques in practice : education versus profession

Mukhlynina, Lilia; Nyborg, Kjell G. - 2016

practice. The survey design allows us to control for a respondent's professional subgroup (e.g., consulting), education … than education; different professions have different valuation cultures. Other factors are less important. There are also … capital allocation process. The relative unimportance of education raises questions about the role and benefit of higher level …

Persistent link: https://www.econbiz.de/10011518764

An option to cheat : an application of option theory to realize flipping in underpricing

Stojkovic, Jovan - 2013

The paper proposes a novel direction to rationalize and quantify investors' flipping behavior and its effect on underpricing in IPOs through the use of a structural approach mode. The outcome is a proxy value that replicates investors' flipping behavior. When tested empirically, the model...

Persistent link: https://www.econbiz.de/10010258983

Polynomial processes for power prices

Filipović, Damir; Larsson, Martin; Ware, Tony - 2018

Polynomial processes have the property that expectations of polynomial functions (of degree n, say) of the future state of the process conditional on the current state are given by polynomials (of degree n) of the current state. Here we explore the application of polynomial processes in the...

Persistent link: https://www.econbiz.de/10011899816

Comprehensive empirical assessment of nuclear power risks

Ayoub, Ali; Sornette, Didier - 2022

The opposition in a number of countries to the inclusion of nuclear energy in a sustainable energy portfolio, in part due to the dread of what the “nuclear” word inspires, has limited quantitative scientific foundation of the real benefits and risks. This has been amplified by the lack of a...

Persistent link: https://www.econbiz.de/10013491927

Swiss Electricity Supply and Demand in 2017 and 2050. Is the Swiss 2050 energy plan viable?

Mearns, Euan; Sornette, Didier - 2022

The Swiss energy plan 2050 includes an increase of electricity consumption by 37% from the electrification of transport and heating, together with phasing out 2.9 GWe of nuclear power (about one-third of the nation's gross electricity generation) and substituting this lost power mainly with...

Persistent link: https://www.econbiz.de/10013405090

The geography of mortgage lending in times of FinTech

Basten, Christoph; Ongena, Steven - 2019

How do banks offer mortgages through on online platform to areas without their branch presence? Unique data on responses from different banks to applicant households yield three salient findings: First, banks offer 4% more often and 6 basis points cheaper credit when markets have high versus low...

Persistent link: https://www.econbiz.de/10012052445

The global impact of COVID-19 on fintech adoption

Fu, Jonathan; Mishra, Mrinal - 2020 - This version: April 22, 2020

We document the effects of the COVID-19 pandemic on digital finance and fintech adoption and usage. Drawing on mobile application data from 71 countries, we estimate that the spread of COVID-19 and related government lockdowns led to between a 33.1 and 36.6 percent increase in the relative rate...

Persistent link: https://www.econbiz.de/10012219350

Pricing Autocallables under Local-Stochastic Volatility

Farkas, Walter; Ferrari, Francesco; Ulrych, Urban - 2022

This paper investigates the pricing of single-asset autocallable barrier reverse convertibles in the Heston local-stochastic volatility (LSV) model. Despite their complexity, autocallable structured notes are the most traded equity-linked exotic derivatives. The autocallable payoff embeds an...

Persistent link: https://www.econbiz.de/10013491888

Momentum Without Crashes

Chitsiripanich, Soros; Paolella, Marc S.; Polak, Pawel; … - 2022

We construct a momentum factor that identifies cross-sectional winners and losers based on a weighting scheme that incorporates all the price data, over the entire lookback period, as opposed to only the first and last price points of the window. The weighting scheme is derived from the...

Persistent link: https://www.econbiz.de/10014236192

Can Time-Varying Currency Risk Hedging Explain Exchange Rates?

Bräuer, Leonie; Hau, Harald - 2022

Over the last decade foreign bond portfolio positions in US dollar assets have risen above the reciprocal US investor positions in foreign currencies. In periods of increased economic uncertainty, institutional investors hedge their international bond positions, which creates a net hedging...

Persistent link: https://www.econbiz.de/10014236684

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