Under most reliability model assumptions, all failures in a population are considered to come from the same distribution. Each individual failure time is assumed to provide information about the likely failure times of all other devices in the population. However, from time to time, process...

Censored median regression models have been shown to be useful for analyzing a variety of censored survival data with the robustness property. We study sparse estimation and inference of censored median regression. The new method minimizes an inverse censoring probability weighted least absolute...

Air toxic emission factor data often contain one or more censored points below a single or multiple detection limits. Such data sets are referred to as "censored." Conventional methods used to deal with censored data sets include removing non-detects, or replacing the censored points with zero,...

This paper investigates the effect of the introduction of exchange-traded funds (ETFs) on the liquidity of individual stocks. Prior analytical studies suggest that uninformed investors strictly prefer trading ETFs to trading individual stocks in order to avoid trading against informed investors....

This paper examines the performance of thirty Hong Kong mutual funds during the period from August 1995 to July 2005. The issues of risk-adjusted performance, selectivity, timing ability and performance persistence are addressed. We employ the signal-factor model, three-factor models and the...

The most attractive markets for renewable energy investment are shifting from the developed world to emerging economies. Among the most prominent emerging economies, China, India, and Brazil have become three of the most important global investment markets, and the role of renewable energy in...

The first essay examines how board structure affects manager dismissal decisions in mutual funds. We first find some evidence suggesting that the likelihood of managerial replacement is higher when fund boards are more independent and receive lower levels of compensation. Manager turnover is...

Finansų rinkų magistro baigiamojo darbo tema yra aktuali, kadangi Lietuvoje investiciniai fondai pradėjo savo veiklą tik 2003 m., kuomet LR Seimas priėmė kolektyvinio investavimo subjektų įstatymą. Investuotojų patirtis šioje srityje yra ganėtinai trumpa, gyventojų baimę investuoti...

Mutual funds currency risk management is analyzed in this bachelor paper. It aims to analyze hedging by currency forward and options under different hedge ratios and various durations of the contracts. Afterwards the outcome is compared to non-hedging. After comparing hedging on six emerging...

This dissertation contains two essays in empirical finance. The first essay studies the mutual fund industry, and the second essay looks into the stock market. Both studies provide insights in the underlying mechanism of some asset return patterns identified from the data currently available.The...