We investigate the presence of significant electricity forward risk premia, using data from three major continental European energy markets - German, Dutch and French. We introduce the risk premium in the framework of a standard electricity spot/forward unobserved factor model, and derive the...

Random subspace methods are a novel approach to obtain accurate forecasts in high-dimensional regression settings. We provide a theoretical justification of the use of random subspace methods and show their usefulness when forecasting monthly macroeconomic variables. We focus on two approaches....

Existing indicators of entrepreneurial activity (such as the Global Entrepreneurship Monitor, Entrepreneurship Barometer, FORA's Entrepreneurship Index, OECD and Economic Commission's sets of indicators, among others) and several variables that have been considered good proxies for...

The comparison of company performances, i.e., benchmarking, is becoming more and more critical. Presently, companies mostly use traditional financial ratios to evaluate their financial performance. We also use financial ratios to measure and compare company performances, from which we create...

Better understanding of inequality, including its relationship to governance and other key outcomes, is relevant both to academic researchers and to policy-makers. Nevertheless, efforts to establish causal relationships empirically remain hampered by the quality and availability of data,...

It is well known that income per capita and most widely reported non-economic well-being achievement measures are highly correlated among countries. Yet many countries exhibit higher achievement in the latter than predicted by the former. The reverse is true for many other countries. This paper...

This paper uses a broad geographical sample to investigate stock market integration during the classical Gold Standard. It is novel in estimating 'global components' of stock market returns, using methods proposed by Volosovych (2011), Pukthuanthong and Roll (2009) and Ciccarelli and Mojon...

Using a large database of U.S. seasoned equity offering (SEO) announcements from 2010 to 2015, we examine the effects of several explanatory variables-firm specific, macroeconomic, fixed income, and stock market variables-on the announcement period abnormal stock returns and on the longer-run...