Cost plays a prominent decision making role in the life of an individual and organisation because it is a central focus of daily financial activities. In any financial engagement, usually for a reward, the costs that are incidental to the engagement could be broadly analysed into material,...

Introduction: Common approaches in cost-effectiveness analyses do not adjust for confounders. In nonrandomized studies this can result in biased results. Parametric models such as regression models are commonly applied to adjust for confounding, but there are several issues which need to be...

In this paper, using the MCMC method, we derive the conditional distribution of "mean variance" variable. This random variable appears in the option pricing problem under the stochastic volatility assumption. Two real data sets are considered. -- conditional distribution ; equity returns ; MCMC...

The subject of interrelationship that exists between foreign direct investment (FDI) and standard of living has been an issue of both theoretical and empirical investigations. This study, thus examined the relationship between foreign direct investment and standard of living measured by per...

Deriving a functional form for a series of prices over time is difficult. It is common to assume some linearly estimable form for prediction purposes. While this can produce accurate short run forecasts it fails to identify longer trends and patterns that may exist in financial data....

The purpose of this paper is to examine the relationship between the financial development and economic growth in Latin American countries. First, we show the high correlation between financial system indicators and GDP. Second, we test out that regardless the financial structure of each...

We examine whether and how investors' reliance on financial information is affected by the rate of sales growth of a start-up venture. We find that investors discern between firms by the extent to which their products are adopted by the market. For firms that failed to increase their sales since...

Portfolio Theory has during many decades been considered as the holy grail of investment despite the fact that very few empirical studies in the public domain have shown that portfolio theory outperforms a random equal weighted portfolio. We will in this paper empirically investigate how...

In any economy, the banking industry is a highly regulated industry owing to the fact that the industry is considered as the engine of economic growth and development. The objective of this research is to analyze financial performances of pre and post consolidation program in order to determine...

This study assesses the level of implementation of Enterprise Risk Management (ERM) in companies listed in the Nairobi Stock Exchange (NSE). The study also seeks to test the significance of factors affecting this level of ERM implementation and to investigate whether the level of ERM...