dividend-price ratio of Danish stocks. The key fundamentals-variable <p> is a time-varying discount rate, decomposed into time …-varying measures for the growth-adjusted <p> real interest rate and the risk premium on stocks. In addition, the model includes <p …

We suggest an alternative approach to testing whether stocks provide a hedge against <p> inflation in the long run …

simply an informational effect it will impose a social cost on our economic system. If this is true for intra … cost to shareholders. Most of the studies on contagion attempts to differentiate between a "pure" contagion effect and a …

We investigate the information content of inter-transaction time and find that it varies both across stocks and over … time. On average, inter-transaction time is found to be informative whenever stocks are sufficiently traded. The magnitude … of the information content is found to be larger for less liquid, but still fairly actively traded stocks. In general …