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"We survey 1,050 CFOs in the U.S., Europe, and Asia to assess whether their firms are credit constrained during the global credit crisis of 2008. We study whether corporate spending plans differ conditional on this measure of financial constraint. Our evidence indicates that constrained firms...
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correlations with developed countries' equity markets significantly reduces the unconditional portfolio risk of a world investor …
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correlations with developed countries' equity markets significantly reduces the unconditional portfolio risk of a world investor …
Persistent link: https://www.econbiz.de/10012763467
future? The usual risk factors are unable to explain the time-series variation in excess returns. In addition, our evidence … of futures prices. We find that the tactical strategies provide higher average returns and lower risk than a long …
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