We investigate the evolution of US bank capitalization and examine its role in the crosssection of bank stock returns. We use the book capital ratio (BCR), the market capital ratio (MCR) and the stressed capital ratio (SCR) as three proxies for bank capitalization and find that the MCR and the...

This paper quantifies the diversification potential of timberland investments in a mean-variance framework. The starting point is a broad set of benchmark assets represented by various indexes. Including publicly traded timberland investments from the US and Canada in the portfolio does not...