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The risks and returns of new public management : political business

Luke, Belinda; Kearins, Kate; Verreynne, Martie-Louise - 2011

Purpose – This article aims to consider success in terms of the financial returns and risks of new public management (NPM) in state-owned enterprises (SOEs). Design/methodology/approach – Financial returns of New Zealand SOEs were examined through a review of their annual reports over a...

Persistent link: https://www.econbiz.de/10009437935

The risks and returns of new public management : political business

Luke, Belinda G.; Kearins, Kate; Verreynne, Martie-Louise - 2011

Purpose: This article considers success in terms of the financial returns and risks of new public management [NPM] in state-owned enterprises [SOEs]. Design/Methodology/Approach: Financial returns of New Zealand SOEs were examined through a review of their annual reports over a five year...

Persistent link: https://www.econbiz.de/10009438391

Do financial returns have finite or infinite variance? A paradox and an explanantion

Grabchak, Michael; Samorodnitsky, Gennady - 2009

One of the major points of contention in studying and modeling financial returns is whether or not the variance of the returns is finite or infinite (sometimes referred to as the Bachelier-Samuelson Gaussian world versus the Mandelbrot stable world). A different formulation of the question asks...

Persistent link: https://www.econbiz.de/10009466156

Financial returns from new public management: A New Zealand perspective

Luke, Belinda G. - 2008

Purpose - This paper considers the potential for profit under new public management, through a study of New Zealand's state-owned enterprises (SOEs). Methodology/approach - 'Examination from the outside' involved analysis of financial data from 2001 to 2005 for the SOE sector. 'Inquiry from the...

Persistent link: https://www.econbiz.de/10009483570

The Levered Equity Risk Premium and Credit Spreads: A Unified Framework

Bhamra, Harjoat S.; Kuehn, Lars-Alexander; Strebulaev, … - 2009

We embed a structural model of credit risk inside a dynamic continuous-time consumption-based asset pricing model, which allows us to price equity and corporate debt in a unified framework. Our key economic assumptions are that the first and second moments of earnings and consumption growth...

Persistent link: https://www.econbiz.de/10009441109

Does the US Government Hedge against Fiscal Risk?

Berndt, Antje; Lustig, Hanno; Yeltekin, Sevin - 2009

We develop a method for measuring the amount of insurance the portfolio of government liabilities provides against scal shocks, and apply it to postwar US data. We dene scal shocks as surprises in defense spending. Our results indicate that the US federal government is partially hedged against...

Persistent link: https://www.econbiz.de/10009441130

Review of monetary policy in South Africa since 1994

Aron, Janine; Muellbauer, John - 2006

and reasonable predictability of monetary policy since adopting inflation targeting in 2000. The SA Reserve Bank's view on …

Persistent link: https://www.econbiz.de/10009441502

Essays on monetary economics and financial economics

Jansen, Dennis (contributor) - 2006

In this dissertation three different economic issues have been analyzed. The firstissue is whether monetary policy rules can improve forecasting accuracy of inflation.The second is whether the preference of a central bank is symmetry or not. The last issueis whether the behavior of aggregate...

Persistent link: https://www.econbiz.de/10009465152

Two essays on the predictability of asset prices:"Benchmarking problems and long horizon abnormal returns"and,"Low R square in the cross section of expected returns"

Sanchez, Benito - 2007

This dissertation consists of two essays on predictability of asset prices. "Benchmarkingproblems and long horizon …

Persistent link: https://www.econbiz.de/10009468641

The research of usage of shares valuation models for stock market predictability in Vilnius stock exchange

Jagminas, Lauras - 2008

The purpose of this diploma paper is to choose the most suitable methods and models of stock market predictability … after the evaluation of the peculiarities of Lithuanian’s and perform the research of stock price predictability. This … predictability are analysed in the first chapter of this work. The methodology of predictability research of Lithuanian’s stock …

Persistent link: https://www.econbiz.de/10009478732