The study conducts an empirical test on dollar-denominated sovereign credit spreads in emerging markets, including … of each country's US-dollar denominated sovereign bonds was particularly strong after the global financial crisis of 2008 …-2009. A two-factor pricing model is developed with closed-form solutions for the sovereign bonds. The correlated factors in …

This study develops and implements a theory and method for analyzing whether introducing new securities or relaxing … ‘stochastic spanning’ for two nested polyhedral portfolio sets based on subsampling and Linear Programming. The procedure is … accept market portfolio efficiency but reject two-fund separation in standard data sets of historical stock market returns …