Stock returns in emerging markets are to some extent predictable on the basis of selected instrument variables. We show that local information is more important than global information to capture emerging stock market returns. This is an indication for at least partial segmentation of emerging...

We test leverage predictions of the trade-off and pecking order models using Swiss data. At an aggregate level, leverage of Swiss firms is comparatively low, but the results depend crucially on the exact definition of leverage. Confirming the pecking order model but contradicting the trade-off...

This paper focuses on mean reversion on international stock markets and explores whether this empirical observation is compatible with a rational, general equilibrium asset pricing model. We consider a simple time series model with switching regimes for the consumption process in the G-7...

Im vorliegenden Beitrag werden die Ergebnisse einer Fragebogenuntersuchung unter deutschen, schweizerischen und österreichischen Unternehmen über die Motive zur Emission von Wandelanleihen vorgestellt. Die Interpretation der Antworten der befragten Unternehmen bestätigt die...