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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
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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
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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
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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
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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
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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
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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
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Do Lenders Price the Brown Factor in Car Loans? Evidence from Diesel Cars
Beyene, Winta; Falagiarda, Matteo; Ongena, Steven; … - 2022
The transition to a green economy strongly depends on the existence of appropriate economic incentives for agents. The loan market for car purchases is a paradigmatic example in this respect, as lenders may set credit conditions which may discourage or support the purchase of high emission...
Persistent link: https://www.econbiz.de/10014239186
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The role of signal precision and transaction costs in stock, option and volatility trading
Gençay, Ramazan; Gibson, Rajna; Xue, Yi - 2009
In this study, we examine the rationale that informed traders use in choosing various financial instruments in order to speculate on the volatility of the underlying asset, here a common stock. Using a continuous-time trading model, we demonstrate that the quality of the private information...
Persistent link: https://www.econbiz.de/10003970302
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A consistent model of "explosive" financial bubbles with mean-reversing residuals
Lin, Li; Ren, Ruoen; Sornette, Didier - 2009
We present a self-consistent model for explosive financial bubbles, which combines a mean-reverting volatility process and a stochastic conditional return which reflects nonlinear positive feedbacks and continuous updates of the investors' beliefs and sentiments. The conditional expected returns...
Persistent link: https://www.econbiz.de/10003970340