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The Jesuits as Knowledge Brokers Between Europe and China (1582-1773): Shaping European Views of the Middle Kingdom

Millar, Ashley E. - London School of Economics and Political Science - 2007

motives, the roles and the consequences of the Jesuits as agents of information regarding China affected the European … and transmission of information. It finds that economic progress and political consolidation in Europe did result in a …

Persistent link: https://www.econbiz.de/10005870547

Detecting Informed Trading Activities in the OptionsMarkets

Chesney, Marc; Crameri, Remo; Mancini, Loriano - Institut für Schweizerisches Bankwesen <Zürich> - 2009

This paper presents a new method to detect informed trading activities in the options markets.An option trade is identified as informed when it is characterized by an unusual largeincrement in open interest and volume, induces large gains, and is not hedged in the stock market.For the period...

Persistent link: https://www.econbiz.de/10005868704

International Capital Flows under DispersedInformation: Theory and Evidence

Tille, Cédric; Van Wincoop, Eric - Finrisk - 2008

We develop a new theory of international capital flows based on dispersed in-formation across individual investors …-standing asset price behavior. We introduce information dispersion into an openeconomy dynamic general equilibrium portfolio choice … model, and emphasize twoimplications for capital flows that are specic to the presence of dispersed infor-mation. First …

Persistent link: https://www.econbiz.de/10005868844

Portfolio choice over the life-cycle when the stock and labor markets are cointegrated

Benzoni, Luca; Dufresne, Pierre Collin; Goldstein, Robert S. - 2007

We study portfolio choice when labor income and dividends are cointegrated. Economically plausible calibrations suggest young investors should take substantial short positions in the stock market. Because of cointegration the young agent's human capital effectively becomes stock-like. However,...

Persistent link: https://www.econbiz.de/10010292176

CEO overconfidence and dividend policy

Deshmukh, Sanjay; Goel, Anand M.; Howe, Keith M. - 2009

growth opportunities, lower cash flow, and greater information asymmetry. We also show that the magnitude of the positive …

Persistent link: https://www.econbiz.de/10010292200

Dividend momentum and stock return predictability: A Bayesian approach

Antolín-Díaz, Juan; Petrella, Ivan; Rubio-Ramírez, … - 2021

A long tradition in macro finance studies the joint dynamics of aggregate stock returns and dividends using vector autoregressions (VARs), imposing the cross-equation restrictions implied by the Campbell-Shiller (CS) identity to sharpen inference. We take a Bayesian perspective and develop...

Persistent link: https://www.econbiz.de/10012819002

Analyzing imputed financial data: a new approach to cluster analysis

Bensmail, Halima; DeGennaro, Ramon P. - 2004

The authors introduce a novel statistical modeling technique to cluster analysis and apply it to financial data. Their two main goals are to handle missing data and to find homogeneous groups within the data. Their approach is flexible and handles large and complex data structures with missing...

Persistent link: https://www.econbiz.de/10010397644

The Norwegian shareholder tax reconsidered

Södersten, Jan; Lindhe, Tobias - 2011

In an article in International Tax and Public Finance, Peter Birch Sørensen (2005) gives an in-depth account of the new Norwegian Shareholder Tax, which allows the shareholders a deduction for an imputed risk-free rate of return. Sørensen's positive evaluation appears as reasonable for a...

Persistent link: https://www.econbiz.de/10010321456

An Evolutionary Explanation of the Value Premium Puzzle

Hens, Thorsten; Schenk-Hoppé, Klaus Reiner; Woehrmann, … - Institut für Schweizerisches Bankwesen <Zürich> - 2006

As early as 1934 Graham and Dodd conjectured that excess returns from value investment originate from a tendency of markets to converge towards fundamental values. This paper confirms their insights theoretically within the evolutionary finance model of Evstigneev, Hens, and Schenk-Hopp (2006)...

Persistent link: https://www.econbiz.de/10005858582

Introducing Capital Structure in a Production Economy : Implications for Investment, Debt and Dividends

Alessandrini, Fabio - Institut für Schweizerisches Bankwesen <Zürich>; … - 2003

This model adds to the standard neoclassical model of business fluctuations by introducing a more realistic capital structure problem, where firms have to balance the tax benefits of debt with the costs of potential financial distress. Therefore, firms solve a dynamic problem with both an...

Persistent link: https://www.econbiz.de/10005859002