SMEs have a key role of building a creative and progressive nation. The industrial engines of Japan, China, US, Germany and Taiwan are also driven by the SME sector. Finance/credit is the most critical component in any business process. Any industrial sector cannot work to its full capacity...

This paper proposes a new approach to style analysis by applying a general state space model and Monte Carlo filter. Particularly, we regard coefficients of style indices as state variables in the state space model and employ Monte Carlo filter as an estimation method. Moreover, we utilize a...

This paper illustrates how qualitative analysis can be incorporated into quantitative risk measurement in order to construct an expected distribution of hedge fund returns that explicitly allows for market, residual and tail risk. We show how the combination of statistical criteria with...