Higher capital requirements of Basel III are criticized for increasing the cost of capital for banks. Against this backdrop, Admati et al. (2013) argue that higher equity ratios are not expensive because the required return on equity will decrease. Previous studies have empirically tested this...

The often reported empirical success of trend-following technical timing strategies remains to be puzzling. In previous academic research, many authors admit some prediction power but struggle to substantiate their findings by referring vaguely to insufficient market effciency or unknown hidden...

The often reported empirical success of trend-following technical timing strategies remains to be puzzling. In previous academic research, many authors admit some prediction power but struggle to substantiate their findings by referring vaguely to insufficient market effciency or unknown hidden...