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The shrinking universe of public firms: Facts, causes, and consequences
Stulz, René M. - In: NBER Reporter (2018) 2, pp. 12-15
Persistent link: https://www.econbiz.de/10012231446
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Why Does Idiosyncratic Risk Increase with Market Risk?
Bartram, Söhnke M.; Brown, Gregory; Stulz, René M. - 2017
From 1963 through 2015, idiosyncratic risk (IR) is high when market risk (MR) is high. We show that the positive relation between IR and MR is highly stable through time and is robust across exchanges, firm size, liquidity, and market-to-book groupings. Though stock liquidity affects the...
Persistent link: https://www.econbiz.de/10011698727
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Corporate governance and financial globalization
Stulz, René M. - In: NBER Reporter Online (2005) Fall 2005, pp. 13-15
Persistent link: https://www.econbiz.de/10010283868
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Why does idiosyncratic risk increase with market risk?
Bartram, Söhnke M.; Brown, Gregory W.; Stulz, René M. - 2016
From 1963 through 2015, idiosyncratic risk (IR) is high when market risk (MR) is high. We show that the positive relation between IR and MR is highly stable through time and is robust across exchanges, firm size, liquidity, and market-to-book groupings. Though stock liquidity affects the...
Persistent link: https://www.econbiz.de/10011520441