Rauchende Schornsteine, Waldrodung, extensive Viehwirtschaft: Dies sind Dinge, die unmittelbar für die globale Erwärmung verantwortlich gemacht werden. Aber auch der Müll, der in jedem Haushalt anfällt, hat direkte negative Effekte in Bezug auf das Klima. Eine Tonne Garten- und...

Seit Monaten befinden sich die Grünen in Umfragen auf einem historischen Höhenflug. Vor allem das wachsende Bewusstsein für Probleme des Klimawandels scheint ihnen Auftrieb zu verleihen. Der folgende Artikel gibt einen Überblick über die grünen Parteien in Europa.

We examine whether the use of the three-moment capital asset pricing model can account for liquidity risk. We also make a comparative analysis of a four-factor model based on Fama-French and Pástor-Stambaugh factors versus a model based solely on stock characteristics. Our findings suggest that...

Critics of Regulation Fair Disclosure (FD) have argued that its enactment would result in not only a decrease in asymmetric information but a decrease in total amount of information disclosed by firms. We investigate this conjecture and find (1) no change in market risk premium, (2) an increase...

The present study empirically examines the contribution of the acquired banks in only the nonconglomerate types of mergers (i.e., banks with banks), where the bulk of the payment is in the form of equity to the acquiring bank and finds overwhelmingly statistically significant evidence that...

For a set of firms with concentrated insider ownership, we find that (a) the bidask spread changes significantly around the board meeting dates, and (b) the actual number of transactions by insiders increases following the board meetings. We also find that there is a statistically significant...

Based on several research studies and in particular the theoretical study of Prakash et al. (1997), it is known that the variance as well as the skewness of the probability distribution of rates of return increases if the investors-investment interval increases. In the present study, using the...

We test the Kraus-Litzenberger three-moment capital asset pricing model (CAPM) and the Fama-French (FF) three-factor (FF) model with the C-test proposed by Davidson and MacKinnon. We are unable to reject the null hypothesis that expected returns are described by either of the models in...

Based on several research studies and in particular the theoretical study of Prakash et al. (1997), it is known that the variance as well as the skewness of the probability distribution of rates of return increases if the investors' investment interval increases. In the present study, using the...

In performing an empirical analysis of stock market returns there are certain conditions under which the quadratic characteristic line (QCL) will be the appropriate return-generating process compared to the linear characteristic line (LCL). These conditions are whether the parameter associated...