In this study, we examine how a firm's advertising and R&D affects the firm's β-risk and idiosyncratic risk, which are metrics of interest to both finance executives and senior management. Due to the existence of non-normal finance data and heteroscedasticity, this study uses quantile...

This study models and examines how changes in marketing information affects the degree of investor's risk aversion, and in turn, influences investor's decision-makings process under uncertainty. Under the mixed assumptions, the theoretical evidence in this study indicates that cumulative...