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This study uses the Bayesian approach to examine the incremental contribution of stock characteristics to the investment opportunity set in U.K. stock returns. The paper finds that size, book-to-market (BM) ratio, and momentum characteristics all make a significant incremental contribution to...
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This study uses the Bayesian approach to examine the incremental contribution of stock characteristics to the investment opportunity set in U.K. stock returns. The paper finds that size, book-to-market (BM) ratio, and momentum characteristics all make a significant incremental contribution to...
Persistent link: https://www.econbiz.de/10011996054
A popular investment choice for UK investors is unit trusts. This paper examines the impact of derivative use on the risk, performance, and risk management of UK unit trusts between January 1995 and December 1997, extended an earlier US study. Despite the well-documented increased use of...
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