Narrow search
Showing 1 - 10 of 4,214
Cover Image
The private equity premium puzzle revisited
Kartashova, Katya - 2011
In this paper, I extend the results of Moskowitz and Vissing-Jørgensen (2002) on the returns to entrepreneurial investments in the United States. First, following the authors' methodology I replicate the original findings from the Survey of Consumer Finances (SCF) for the period 1989 - 1998 and...
Persistent link: https://www.econbiz.de/10008841171
Cover Image
Sharing RD risk in healthcare via FDA hedges
Jørring, Adam; Lo, Andrew W.; Philipson, Tomas J.; … - 2017 - This draft: 28 March 2017
The high cost of capital for firms conducting medical research and development (R&D) has been partly attributed to the government risk facing investors in medical innovation. This risk slows down medical innovation because investors must be compensated for it. We propose new and simple financial...
Persistent link: https://www.econbiz.de/10011749446
Cover Image
Profts Crisis : Evolving Patterns of Frm Size and Performance in Traditional U.S. Industries
Muthusamy, Senthil Kumar; Kannan, Ramadevi - 2023
With the arrival of the new millennium, many industries across the developed economies are increasingly facing volatile, uncertain, complex, and ambiguous business environments-often characterized as VUCA-caused by a host of disruptive factors hyper-competition, globalized value chains,...
Persistent link: https://www.econbiz.de/10014348897
Cover Image
The Impact of Benchmark Choice on US Mutual Fund Benchmark-Adjusted Performance and Ranking
B. Mateus, Irina - 2017
-adjusted fund performance and ranking. All funds report S&P500 index as a prospectus benchmark, yet 2/3 of those are placed in the …
Persistent link: https://www.econbiz.de/10012950444
Cover Image
Why does idiosyncratic risk increase with market risk?
Bartram, Söhnke M.; Brown, Gregory W.; Stulz, René M. - 2017
errors in analysts' earnings forecasts. Firm characteristics related to the ability of firms to adjust to higher uncertainty …, which is con-sistent with the view that such options provide a hedge against macroeconomic uncertainty. …
Persistent link: https://www.econbiz.de/10011674278
Cover Image
Is socially responsible investing really beneficial? : new empirical evidence for the US and European stock markets
Mollet, Janick Christian; Ziegler, Andreas - 2012
This paper empirically examines the theoretically ambivalent relationship between socially responsible investing (SRI) and stock performance. It extends the existing literature by considering both the US and the entire European stock markets as well as by using consistent world-wide corporate...
Persistent link: https://www.econbiz.de/10009533995
Cover Image
Why does idiosyncratic risk increase with market risk?
Bartram, Söhnke M.; Brown, Gregory W.; Stulz, René M. - 2016
characteristics related to the ability of firms to adjust to higher uncertainty help explain the strength of the relation. Consistent … with the view that growth options provide a hedge against macroeconomic uncertainty, we find evidence that the relation is …
Persistent link: https://www.econbiz.de/10011520321
Cover Image
Cash flow and discount rate risk in up and down markets : what is actually priced?
Botshekan, Mahmoud; Kräussl, Roman; Lucas, André - 2010
of cash flow versus discount rate news as in Campbell and Vuolteenaho (2004). We construct a new four-fold beta … decomposition, distinguishing cash flow and discount rate betas in up and down markets. Using CRSP data over 1963–2008, we find that … the downside cash flow beta and downside discount rate beta carry the largest premia. We subject our result to an …
Persistent link: https://www.econbiz.de/10008748123
Cover Image
The Role of U.S. Market on International Risk-Return Tradeoff Relations
Sun, Licheng - 2017
We study the intertemporal risk-return tradeoff relations based on returns from 18 international markets. We find striking new empirical evidence that the inclusion of U.S. market returns significantly changes the estimated risk-return tradeoff relations in international markets from mostly...
Persistent link: https://www.econbiz.de/10012968046
Cover Image
Tracking the Evolution of Idiosyncratic Risk and Cross-Sectional Expected Returns for US REITSs
Cakici, Nusret - 2014
This paper adopts the methodology in Bali and Cakici (2008) in tracking the evolution of the relation between equity REITs' idiosyncratic risk and their cross-sectional expected returns between 1981 and 2010. In addition to the full sample period, we study this relation for (i) all sample REITs,...
Persistent link: https://www.econbiz.de/10013056735