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términos de capacidad de previsión. ; This paper assesses the estimation of the so-called equity risk premium, i.e. the … compare the equity risk premium estimates from different dividend discount models in terms of the in-sample and out …-of-sample forecasting ability across different time horizons. Using data from the Eurostoxx 50 from 2001-2021, I find that equity risk …
Persistent link: https://www.econbiz.de/10013210161
Although theories in both evolutionary biology and economics predict that an individual’s health should be associated with the individual’s time preference, no prior study has been done to empirically support or refute such predictions. By collecting detailed measures of health, time...
Persistent link: https://www.econbiz.de/10009439141
In this piece, I take issue with one of the fundamental tenets of law and economics as it has been used to justify gender discrimination in the pricing of life insurance and annuities, namely, that individuals should bear their own identifiable costs so as to avoid misallocation of society's...
Persistent link: https://www.econbiz.de/10009432041
We analyze the problem of an investor who needs to unwind a portfolio in the face of recurring and uncertain liquidity needs, with a model that accounts for both permanent and temporary price impact of trading. We first show that a risk-neutral investor who myopically deleverages his position to...
Persistent link: https://www.econbiz.de/10009475400
A well-developed financial intermediation industry increases domestic savings, efficiently allocates investment resources to the most productive uses in the economy and increases the rate of economic growth. In the Soviet economy the banking system served as a means of collecting household...
Persistent link: https://www.econbiz.de/10009477040
Why is the economy “complex”? For all the recent advances in the management sciences, businesses today face markets … agent-based modeling, will help key decision-makers anticipate the global dynamics of modern consumers, firms and markets …
Persistent link: https://www.econbiz.de/10009480121
"on 25-26 January 2010 in Maputo, Mozambiqueunder the Comesa-MSU-IFPRI African Agricultural Markets Project (AAMP) …The main objective of this paper is to examine whether the staple food markets in Africa are efficient. It does so by …
Persistent link: https://www.econbiz.de/10009445989
UAE as a country brand ranks one for resorts & lodging. It is 31st among 134 countries in terms of national competitiveness according to the World Economic Forum. It ranks one in terms of invested sovereign wealth funds according to IMF, is the fifth largest oil producing nation. During this...
Persistent link: https://www.econbiz.de/10009457380
last few decades, as their high trading volume indicates. Given their prominence, the pricing efficiency of these markets … price with prices of options traded in financial markets. One popular approach to deriving pricing relationships is based on … that options markets are inefficient and that casts doubt on whether options markets contribute to price discovery, hedging …
Persistent link: https://www.econbiz.de/10009459048
This study examines whether client satisfaction can help explain cross-sectional variation in Big 6 audit fees paid by Fortune 1000 clients. After controlling for other factors related to audit fees (including audit quality attributes), client satisfaction with the audit team is positively...
Persistent link: https://www.econbiz.de/10009459082