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Non-parametric statistic for testing cumulative abnormal stock returns
Pynnönen, Seppo - In: Journal of Risk and Financial Management 15 (2022) 4, pp. 1-13
Due to the non-normality of stock returns, nonparametric rank tests are gaining accceptance relative to parametric tests in financial economics event studies. In rank tests, financial assets' multiple day cumulative abnormal returns (CARs) are replaced by cumulated ranks. This paper proposes...
Persistent link: https://www.econbiz.de/10013201452
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Mapping finance sources for nature-based solutions in Africa
Pettinotti, Laetitia; Quevedo, Adriana - 2023
, countries seeking to identify finance for nature-based solutions must navigate complex fragmented terms and language, as well as … a wide array of public and private finance actors. Such fragmentation has practical implications. African countries face …. Adding to the complexity, finance for nature-based solutions often combines public and private financing. So far, blended …
Persistent link: https://www.econbiz.de/10014435485
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The genesis of the Black-Scholes option pricing formula
Heimer, Thomas; Arend, Sebastian - 2008
Innovations in the finance industry are an important tool to enhance profitability and to increase a nation's wealth …. It, therefore, is not astonishing that there is much empirical work on innovations in finance. Most of the work however … enhance risk control, how do we generate new processes that may enhance the profitability of finance business? The second …
Persistent link: https://www.econbiz.de/10010298942
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The paradox of monetary profits: an obstacle to understanding financial and economic Crisis?
Bruun, Charlotte; Heyn-Johnsen, Carsten - 2009
financial spheres. The monetary profit inducing capitalist production, emanates from the sphere of finance. In a world of …
Persistent link: https://www.econbiz.de/10010299493
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Understanding the high profitability of Chinese banks
Löchel, Horst; Li, Helena Xiang - 2011
The big Chinese state-owned banks came as winners out of the global financial crisis. According to the Banker ranking, Chinese banks led the global banking profitability ranking through the years from 2008 to 2010 and contributed one fifth of global banking profits in 2010. The Chinese banking...
Persistent link: https://www.econbiz.de/10010307920
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Finance and Growth at the Firm Level: Evidence from SBA Loans
Brown, J. David; Earle, John S. - 2015
We analyze linked databases on all Small Business Administration (SBA) loans, on all SBA lenders, and on all U.S. employers to estimate the effects of financial access on employment growth. Our methods combine regressions with matching on firm age, size, industry, year, and employment history,...
Persistent link: https://www.econbiz.de/10011307476
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Option-implied term structures
Vogt, Erik - 2014
The illiquidity of long-maturity options has made it difficult to study the term structures of option spanning portfolios. This paper proposes a new estimation and inference framework for these option-implied term structures that addresses long-maturity illiquidity. By building a sieve estimator...
Persistent link: https://www.econbiz.de/10011340958
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Finance, Comparative Advantage, and Resource Allocation
Jaud, Melise; Kukenova, Madina; Strieborny, Martin - 2014
in terminating inefficient trade flows. This constitutes a new channel through which finance improves resource allocation …
Persistent link: https://www.econbiz.de/10011345541
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Financiamento interno de longo prazo
da Costa, Fernando Nogueira - 2015
Besides the introduction and the final conclusions, this Discussion Paper has four sections. The first presents the "state of art", that is, the current debate about the long-term financing of the neo-corporatist state capitalism in Brazil. Then it shows the personal and corporate wealth as...
Persistent link: https://www.econbiz.de/10011372255
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Saving by default: Evidence from a field experiment in rural India
Somville, Vincent; Vandewalle, Lore - 2015
A growing share of the world population is getting access to a formal bank account. This allows a move from cash to account based payments. Grounding our hypothesis in behavioral economics, we conjecture that being paid on an account instead of in cash can play a major role in encouraging...
Persistent link: https://www.econbiz.de/10011381206