This paper analyzes the response of the Term Structure of discount rates to the changes in the Federal Funds Target Rate. It also suggests a method of hedging fixed income portfolio's risk to the unexpected changes in monetary policy. We use two alternative widely used models of term structure...

We derive optimal portfolio weights for an investor who has specific beliefs regarding the distribution of a stock price at a future time. For example, a fundamental investor will want to take advantage of the information his analysis provides when constructing a portfolio.lt;brgt;lt;brgt;In...

We study the impact of changes in US monetary policy on the equity returns of real-estate-related industries and the possible economic sources behind the response. We find that over the 1989 to 2005 sample period covered in our study, a hypothetical unexpected rate cut of 25 basis points is...

This paper analyzes the financial and operational performance of Corporate Socially Responsible firms. We test different hypothesis of over- and under-performance of such companies and show that CSR firms perform just as they were expected to perform financially and operationally, even after...

In this paper we study the effect of unexpected changes in monetary policy on the equity returns of real-estate-related industries, using federal funds futures prices to extract unexpected changes in the Federal Funds Target Rate and employing it as a measure of monetary policy shocks. We find...

This paper analyzes the reaction of the stock market to the monetary policy actions of the Federal Reserve (the Fed). Specifically, we examine the reaction of the stock market to the monetary policy announcements by the Federal Open Market Committee (FOMC) of the Fed. We show that the full...