The Value at Risk (VaR) is widely used to measure the risk of banks' trading books, but it also has been criticized in the previous academic literature due to some odd properties. Other risk measures have been suggested as potentially being superior from a theoretical perspective. This gives...

An approach for capturing unobserved customer heterogeneity in structural equation modeling is proposed based on partial least squares. The method uses a modified finite-mixture distribution approach. An empirical analysis using quality, customer satisfaction and loyalty data for convenience...

This paper investigates the market reaction to stock splits, using a set of German firms. Similar to the findings in the U.S., I find significant positive abnormal returns around both the announcement and the execution day of German stock splits. I also observe an increase in return variance and...