This paper examines the effect of risk on bank performance in Ghana. A panel data analysis of 18 banks over the period 1997-2008 is used in the study. The results show that lower risk levels lead to an increase in bank performance. In addition, the results show that when ownership interacts with...

Purpose – This paper aims to evaluate the effect of risk on the financial policy of emerging market firms. Design/methodology/approach – Using data from 34 emerging markets during a 17-year period, 1990-2006, a panel data model is employed for the analysis. Findings – The results of this...

Motivated by the theoretical results on strategic asset allocation, we examine the gains in portfolio performance when investors diversify into different asset classes, with particular focus on the timeliness of such gains. Although the various asset classes we analyze yield significant gains in...

Many papers have recently pointed out that institutional investors allocate only a very small fraction of their portfolio to real estate, much smaller than theory would dictate. This raises the question, Are institutional investors underinvested in real estate equities? Or do we simply have the...

Numerous studies have examined the factors associated with allocation of corporate and government pension plan assets. Yet to date there has been no attempt to identify the sponsor-related conditions that affect the percentage of U.S. private and public pension fund assets invested in real...

This paper reports on the determinants of the ARM choice for commercial real estate projects. The theoretical literature suggests that commercial real estate projects are more likely to be financed with an adjustable-rate mortgage (ARM) if the project's income stream or value is expected to rise...