inclusion of two other aspects: namely the yield and the global risk associated to the portfolio using the CAPM model and the … that none the fund managers have either “selection ability†or “timing abilityâ€. However, risk and return analysis …

A fixed effects panel data estimation of the determinants of European government default risk is undertaken. Credit … risk of sovereign debt is assessed by comparing yields on benchmark government bonds with high-quality private risk … government default risk to depend positively on changes in the debt to GDP ratio and the variability of inflation and negatively …