respect to risk and operational characteristics such as flows, assets, and Morningstar star ratings. Panel-VAR estimations … reveal that the response of funds’ efficiency to a shock in risk is positive and substantial. Some evidence of reverse …

plus a 3x6 months Forward Rate Agreement (FRA), and that Libor was a good proxy of the risk free rate required as basic … building block of no-arbitrage pricing theory. Nowadays, in the modern financial world after the credit crunch, some Libors are … carry very important consequences in derivative’s trading and risk management, such as, for example, basis risk …

under-diversification resulting from the bias toward employer stocks is highly costly. Holding current portfolio risk …

concentrated funds perform better after controlling for risk and style differences using various performance measures. This finding …

funds with beliefs on risk diversification show better return-risk performance measures, but also lower costs. Also, funds … that hold clear views on risk management realize higher alpha and return/risk ratios …

relationship between local bias and risk-adjusted portfolio return while controlling for alternative exogenous determinants within …