During the past few decades, significant theoretical advances in portfolio theory and asset pricing have substantially increased our understanding of how to construct optimal portfolios. These theoretical developments have challenged professional portfolio management to develop appropriate tools...

This paper investigates the application of factor investing in corporate bonds. Our results show that proficiency in the drivers of risk and return, the factors, should be used for bottom-up corporate bond selection. We analyze five different factors (Value, Equity Momentum, Carry, Quality,...

This study aimed to formulate a conceptual framework regarding the Foreign Direct Investment (FDI) location choice made by corporations and identified the motivational factors of the FDI location choices. The framework and associated hypotheses were empirically tested in Thailand. The framework...

Implementing a multifactor signal in the corporate bond market into an actual portfolio is subject to many challenges. In general, corporate bonds have higher transaction costs compared to equities and a substantial amount is not traded at all for longer periods. This makes the implementation of...

We investigate asset returns around banking crises in 44 advanced and emerging economies from 1960 to 2016. In contrast to the view that buying assets during banking crises is a profitable long-run strategy, we find that returns of equity and other asset classes often underperform following...

"Mission Investing" (MI) is an umbrella term for the practice of non-profit organizations (NPO) to include their mission into their investment policy. Despite the growing popularity of this concept it still greatly lacks a scientific foundation. This article identifies key characteristics of MI...

Using a typical linear model on a sample of listed firms in China over a period of 10 years (2006–2016), this study empirically attempts proving how peer effects influence corporate research and development (R&D) investment decision. The study goes further to demonstrate that peer effects play...

Achieving low-carbon, climate-resilient (LCR) development is a policy goal of many governments today, and investment in built-infrastructure – in the energy, transport, water and building sectors – is a central part of the challenge. In the face of growing infrastructure needs and fiscal...

We use changes in Brazil s tax on capital inflows from 2006 to 2011 to test for direct portfolio effects and externalities from capital controls on investor portfolios. The analysis is structured based on information from investor interviews. We find that an increase in Brazil s tax on foreign...

This paper examines the effect of tax incentives in the form of bonus depreciation on the quality of investment. Using the expiration of tax incentives via bonus depreciation in East Germany and a representative panel of West German establishments, we show that bonus depreciation significantly...