We examine the performance of U.K. unit trusts between January 1982 and December 1996 within the stochastic discount factor approach across a wide class of models. No one model dominates all the others in correctly pricing passive portfolios or detecting superior performance for hypothetical...

We explore the validity of different benchmark specifications used to evaluate U.K. fund performance, and we examine the sensitivity of U.K. unit trust performance to the factor benchmark specification and two performance measures. Our findings suggest that the different benchmark specifications...

I examine the empirical performance of various specifications of the capital asset pricing model (CAPM) in UK stock returns, using the stochastic discount framework. When the proxy for the market portfolio includes a proxy for labor income growth in addition to the stock market index, the...

We examined the out-of-sample performance of using resampled portfolio efficiency, an approach proposed in 1998, in international asset allocation strategies for the period January 1983 to May 2000. For most models we used to estimate expected returns, using strategies based on resampled...

Phytoremediation using floating treatment wetlands (FTWs) is an emerging nature-based solution for freshwater restoration. However, the potential to design these systems by manipulating macrophyte community composition to provide multiple ecosystem services remains unexplored. In a mesocosm...