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results of such tests. In some cases, with appropriate knowledge of the corruption mechanism, the true values of the …
Persistent link: https://www.econbiz.de/10014130913
The ability to predict corruption is crucial to policy. Using rich micro-data from Brazil, we show that multiple … machine learning models display high levels of performance in predicting municipality-level corruption in public spending. We … predictors of corruption, while public sector and political features play a secondary role. Our findings have implications for …
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One of the most puzzling findings in asset pricing is that expected returns dominate variation in the dividend-to-price ratio, leaving little room for dividend growth rates. Even more puzzling is that this dominance only emerged after 1945. We develop a present value model to argue that a...
Persistent link: https://www.econbiz.de/10012844161
Unlike passive management, where investors almost do not buy and sell securities, active management involves a set of trading rules that govern investment decisions regarding mainly market timing. In this paper, we take the basics of active management and the two fund separation approach, to...
Persistent link: https://www.econbiz.de/10012146691
Unlike passive management, where investors almost do not buy and sell securities, active management involves a set of trading rules that govern investment decisions regarding mainly market timing. In this paper, we take the basics of active management and the two fund separation approach, to...
Persistent link: https://www.econbiz.de/10012845335
The use of prediction markets (PMs) for forecasting is emerging in many fields because of its excellent forecasting accuracy. However, PM accuracy depends on its market design, including the choice of market mechanism. Standard financial market mechanisms are not well suited for small, usually...
Persistent link: https://www.econbiz.de/10013049593
This article considers the problem of equipment replacement in which the replacement decision at a particular time must take into account (i) the state of the existing machine in use, (ii) the available replacement alternatives at the time, (iii) the future advances in the relevant technologies...
Persistent link: https://www.econbiz.de/10014219998